Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-02-04

lust addressed a long communication 10 inc
timore Sun" in relation to his liabilities and his
means of payment upon the face of which it would
seem that he is remarkably honest, and intends to
sacrifice every thing for the benefit of his creditors
Before we go into his present situation, we will
sketch his history
j. Beal Steinbergcr is the of an old German
farmer residing near Mount jackson, Shenandoah
County, Va. The old man is reputed wealthy, own
ing several farms in Shenandoah and Greenbrier
Counties, and has followed grazing and cattle deal
ing for many years but only lately, (say seven
eight years. that he engaged in the business OF
q monopolst. Old Steenbergen carried on his busi-
under the agency Of Mr.. Nicely, who was
shrewd man, and if he had continued him as his
agent, il would have been better for his son, j. b.
Steinbergcr, and the farmers OF Shenandoah County
Young Steenbergen lives miles from Newmark-
ct, Shenandoah County, and 10 from w Woodstock the
seat of Justice He comm nced cattle dealing about
the year 1880, and he has been very heavy pur-
chaser of cattle in Tennessee. Kentucky, and Ohio
ever since He was successful, for his dealings
were legitimate. He was ambitious, however, and
wished to become a rich lie very igno-
rant and was conscious of this great defect in
gentleman, and consequently was very silent upon
most subjects, except money transactions, upon
which he always talked largely. In the year 1885,
when the Bank of Maryland was in high elevation,
the Cashier Mr.. Poultney, gave this Steenbergen
$4,000 of the Bank of Maryland notes to circulate
He did so, and among his own neighbors, honest
Germans, he exchanged this trash paper of the Bank
of Maryland for Virginia paper, and held the amount
in his hands for speculation. Before the time
rived when his note to the Bank for this Sl5O000
became due, the Bank failed, and this caused the
riots in the city of Baltimore After the Bank fail
ed, Steinberger paid his debt by the deprecated pa
paper of the Bank bought of the very farmers he
exchanged with, at 40 cents in the dollar He made
by this operation about $4,000, perhaps more.
He married, few years since, Col. Beirne's daugh-
ter, residing Woodstock, Va. Col b. is in
tolerable circumstances, and loaned his name in
blank signatures and endorsements to his son-inlaw.
He now refuses to pay, and has advertised Ia that
effect and under law in Virginia he is not bound
for paper which was obtained in blanks and fled up.
1t is in relation to this latter affair that he has
published the long letter above alluded to. In this
he says that his fathern-law is liable, and that he
had full authority TO his name, and that he will
give all the evidence and assistance in his power to
compel Col Beirne to pay the notes he has endorsed.
In reference to his authority he publishes this
letter -
"DEAR BEALAgrceabe your Iuest hereby authorize
you ana A. b5ne Jr e use my name as endorse Please
te stock mentioned in my asi as viii be compelled to sell
ANDRrw BEIRsE.
j. b. Steenbergen, Esq"
In connection with this, Steenberger adds the fol-
lowing comment
will appear whenever the requires proof that
from the date Of this broad and gnqshl authort his
esswu IA ns numerous extensive and complicated trans
actions under circumstances when must necessarily have
rested IN his sars end that yt no objection made
such an use OF tins authority, until August, 1883.
j. b. STEESBERGENr
Thus stands the affair at present; and under all
the circumstances think il not mpos sible that
both the beef buyer and his father may gull the pub
lie once more, get up sham quarrel throw their
creditors off their guard and divide the ad vantages
Ii is said, estimated that Steenbergen is indebted
to the IT, s Bank, $780, 900; Western Bank of Balti-
more, something like So, 900; Merchants Bank of
Baltimore, indirectly, about $4,000; Commercial
and Farmers Bank of Baltimore, indirectly, $4,000;
Bank of the Valley at Winchester, about SIS 900.
very modest total for beef buyer to owe to five
Banks but one which will readily account for the
extraordinary monopoly and consequent high price
Of beef within the last few years In one instance
last summer beef cattle were bought up in Balt-
more for New York to the amount Of SlS0,00O in
day; and this done by the agency and assist
ance of the banks.
This is bad than the monopoly of
-four in Rochester and the part of this state
BY the cans, and causes us to wonder no
longer at the hig price have had pay for food,
for the last few years. But the great beef buyer
has shared the fate of the Rochester flour specula-
tors, and the fate that later awaits all in
famous monoposers of the necessaries Of life.
The following, amongst many other curious anec-
dotes, is told Of Seenbergen. He wished 10 obtain
large loan at particular time from particular
bank in Philadelphia; one Of the Directors of this
man" any money, and Stcenbergen adopted this plan
for overcoming his scruples. The director had
very fine bull calf on his estate near Philadelphia;
steenbergen went out TO it, and when the pre-
misses he admired il very much, and commenced the
following conversation -
iSteenbeTgen-IIow much viii you take for that
calf
Director-oh, don't want to part with it. It's
a valuable calf.
81 know it's very valuable, therefore want to
buy it. How much will YOU takel Ill pay YOU any
price you may ask.
D.-Will you give me Si00l
81 will-Il draw my check for that amount at
once, and,take the calf home.
This done; and in few days afterwards lac
called again on the Director, and said, "Mr. -,
] owe you $50" mo you don't" answered the
Director. OH but do though" repeated Stecn-
bergen How sol" exclaimed the Director
why that calf Of yours sold for $780, and as
| made 800 profit in three days, think you
titled to half of it," Enough said" added the
n;roctor. aud n IL needless fr US To add that the