The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-01-19

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sFIRIr OF THE AeE-MoDERs FrNANclRRiNe. One
OF the most extensive deep laid schemes Of fraud
ever attempted has just exploded One bomb shell
burst in this city and one in Boston, but both came
from the same mortar.
The following are the particulars OF this last sys-
tematic scheme OF rascality.
II appears that on Saturday evening last, man
named ID. L. Patterson, who has lately purchased
largely OF books and merch ndize in Boston, was
arrested in that city, on suits brought by Little
& Brown, and Croker & Brewster, booksellers,
and also on complaint Of one OF them OF obtaining
goods by false preences. Itseems that he has been
pursuing an extensive scheme of vlany, by which
he has obtained icredit for large amount Of pro-
perty--by some stated at $4,000 by others at
larger sum. He commenced business by purchasing
about $1,000 worth Of books, for which he gave a
short accepted draft on Theodore J. Martin, law
YER having an Office at No. 81 Water street. in this
city. This, and several subsequent drafts were
promptly paid, which at once established the Gre
dit OF this Patterson he taking particular to
refer those of whom he asked credit to those who
had received the paid drafts. There were some
suspicious, however, that all not right-particu-
larly as the boxes of goods, when sent away, were
marked merely with the letter p enclosed in dia-
mond.
The creditors accordingly kept an eye upon him !;
but they could not refuse to trust him for goods
so long as Martin, who was reported wealthy or in
lucrative business, promptly met the drafts
But on Saturday, some eight or ten drafts were
returned protested for non-payment, and the matter
exploded at once
1t has been ascertained thatlhe purchased books
to a large amount of Croker &, Brewster, Little IL
Brown, James Monroe & Co., jerks Il Palmer, B.
B Muzzey, c. H. Peirce & Co., Lewis & Sampson,
and some others; wines, &c. of Blake Il Trumbull;
shoes OF E. Townsend; candles, &c. Of Tapley Il
Crane and H. Lincoln Il Co.; ale of Curtis. Leavens
" Co.; gum shellac of Henshaw, Ward Il Co.; cloth-
ing of John Simmons Il Son; paper of Mr.. Parker;
coffee of Bacon & Sons; dry goods of Hobart 81
Cummings, and some twenty or thirty others, OF
Boston; and segars Of F. Holden g. Co., and soap OF
Davis & Dickinson, of Cambridge. 1t is known that
he is connected in the business with some half do
zen persons in New York and we learn that re-
QUESTION has come on for one or two OF them,
and such evidence as will lead to complaint
against others, whose names we are acquainted
with
An examination of the case was commenced in
Boston on Monday afternoon, but the character of
the false pretences not tu ly stated on account
of several witnesses being absent at New York.
Little and Brown said they expected to prove that
sundry books purchased at their store by the defen
dainty disposed of at auction at New York-that
catalogue of an auction sale had been seen con-
tanning sundry books purchased of them cores
pondlng in number with an account of sales made by
them to Patterson, some of which were known by
Mr.. bennett, of the house OF Munroe e. Co.. of Bos-
ton, to have come from their store.
We have few more particulars of this bit of ras-
cality, which we shall give tomorrow or next day.
Let this explosion be warning to merchants not to
go too extensively into the credit system.
SHIP BuILDNe-There are now three large ships
and two large steamers on the stocks in this city
All to be launched and finished by the first day
of next May. Aggregate value four hundred thou
sand dollars
These five vessels are building lat the following
yards.
One steamer at Smith Il Damon's, for the PEOPLES
Line of Albany. She is to be three hundred and
fifty-nine feet long-twenty-n feet longer than
the Empire! Her name, we believe, will be the
Cataract
The other steamer is at Lawrence 81 Sneden's.
She is intended to run between Boston and Bangor,
and will be called the Penobscot. Size not far from
five hundred tom,
A ship OF twelve hundred tons burthen is on the
blocks at Brown IL Bells. She is for the new line
of Liverpool packets-W oodhul & Minturn agents
Her owners have settled upon Liverpool as the
name for her Captain Eldridge, formerly of the
Huntsville, will take command.
Another ship is at Webb 81 Aliens yard. Monte.
yuma is to be her name She is building for the
old line of Liverpool packets, and will be superb
vessel in every respect. Captain B. L. Waite,
of the England will be her commander better
one could not have been selected
Weservelt Il Mackay, the builders of the Ash
burton, have just laid the keel of Ship to be of the
size of the Hendrick Hudson. She is for the Lon.
don line of packets, to take the place probably of
the Ontario
Our shipwrghts are thankful that these vessels
are wanted. Ii keeps them in employment and
givesquite an active appearance to our ship yards
GRAHAM's MAGAZINE FOR FEBRUARY.-When we
noticed "Graham" for January, we suspected that
its splendid embellishments and admirable literary
contents had been prepared TO purpose at the
beginning Of new year and new volume but
we were in error. The February number is not only
superior in all respects to that for January but it is
altogether the finest specimen of magazine ever
printed in this country. Even " William Blackwood
81 Sons might be proud to issue such magnificent
collection of articles in single month. Cooper,
Longfellow, Dana, Cheever, Cotton and Mcrcein,
all Of whom write for Graham exclusively; and
Willis, Story, Burlegh, Wakeman, Coates, Her.
bert, Hoffman, and some dozen othershave articles
the present issue. "Born to love Pigs and Chick
ems" by Willis The Fire Doomed" by Coates;
The Autobiography" by Cooper; and The En-
chanted Cum" by Hoffman, are the best stories
" The Demurrer" by "a Committee" is scorch-
ing reply to some questoner Of the superior genius
of the ladies', God bless them! and the Letter 10
Charles Dickens" in the Editors Table, is decided
ly rich. The engravings entitled " The Captives,"
and " The Lovers Signal" from the BURNS of Raw
don, Wright, Hatch and Smile, of this city, are the
best ever published in magazine, and quite equal
10 the finest in the London Keepsakes. Israel Post,
SO Bowery is the New York publisher