True American. [volume] (New Orleans [La.]) 1835-18??, 1839-12-02

Real Estate Lotteries In our remarks in our
paper of Friday last in relation to these lotteries,
IN expressing our conviction oftho flirne S., more
particularly Of that Of Messrs Caldwell, Oakley,
and PIitchard, did not intend it to be understood
as deno,ng the fairness of that of Schmidt and
Hamilton. The truth is, we may have been somc
what biased by our friendly feelings towards Mr..
Caldwell, but lcsldcs, we were not then so we'll
acquainted with the affairs in relation to the lottery
Of the former firm The attacks made against
these gentlemen more particularly, has drawn the
attention OF many persons to the subject, who other
wise would have continued to treat it with neglect
relying upon tho known good character Of all en-"
gagged in this affair. We have ourselves given the
matter some attention, and have, moreover, made
enquiries that has satisfied our mind very clearly :;
first, that the lottery is got up in good faith that
it will most assurcdly Re drawn; and that the
prizes will be paid to those who hold the fortunate
numbers.
As to tho character Of Mr.. Schmidt, it is unne~
cossary for us to say more. than that we have
known him a lang time, that he has many friends
in this city who hold h m in great cstccm that he
has relations who have been long residents Of this
Guy, VI HtlHulH. aHu STCil CTGull. III not
strange, therefore, that Mr.. Banks should, to
Obtain an end Which it was we'll known, he has
long most ardcntly desired TO exricnte him
self from the firor of the banks pursue tho
course he has of dsposing of his large property
by lottery, when it is we'll known that the great
value oftwo parcels of il, could not be disposed of
in the dina,y way. The idea was suggested to
him. and having full confidence in tho capacity
and Integrity of Mr.. Schmidt. a contract was en-.
tcref into before notary, with all the forms
Of law, and with every regard to the interest of all
the parties, and to the security ofthc public, with
out whose confidence, the scheme could not be
carried into effect.
To insure this confidence, it was stipulated that
all monies, as fnst as received, arising from the
sale of tickets, should be Immediately deposited in
certain banks, under the joint trusteeshp of
Messrs. J. B. Perrault and A Bouduin, two of our
most respectable citizens, and whose names alone
should be a sufficient guarantee for the fairness Of
the VIII oe project.
The agent. of Messrs Schmidt and Hamilton,
in the other states and in foreign countries have,
learn upon inquiry, been selected with TIE
greatest care, and regard to responsibility and
safety. They are in the United States, Cashiers
of banks, Merchants Of wealth and rospccta.
bity, recommended by the first commercial houses
in our own city. Tickets are delivered to wonders
only when their valuc is paid t,"n; and the
amounts thus received are paid into banks to the
credit eftIe New Orleans banks. where il is re.
tanned until the completion of the drawing Of the
lottery. The names of many of the agents have
been submitted to us, but it would be highly i'm.
proper to make them puolic, because the sale of
tickets Of foreign lotteries is in most states prohi.
bitcd. In Mexico, England, France, Holland and
Germany, agents have been established and they all
account, and at short periods, 10 Messrs. Barring,
Brothers. London, and Jacques Lafts of Paris,
who keep the proceeds Of sales, until the further
sale of tickets in Europe is stopped, when the
Trustees here draw for tho amount,