The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-02-26
This viii do for TO. dsy.



WALL STREET AGAIN OBSERVATION-DISCLOSURES AL
LEsED FRAUD, MOUNTING To SlsETY-FIyE THOU.
SAND DOLLARS
An arrest vas made yesterday by officer A. NJ. G.
Smith Of two men, by the names Of james Mckay aud
John p. Cry der, on warrant Issued by Justice Lo-
throp, wherein they stand charged with obtaining
certain bonds and securities valued ct ss5 ooo from
walter p Flanders, Treasurer of the Milwaukee and
Mis.,ipp, Railroad Company corporation instituted
by the stste Of Wisconsin. These bonds, Sc, are
alleged TO have been obtained from Mr. Flanders by
islfe and fraudulent approximations
IL appears rom the affidavit on Gle at the police
court, that Mr. FLANDERS the treasurer OF the CON.
pspy Welt. this city In October lsst, with vs~ OF
rsbirg come 800 COO certain securities guaranteed
By the city OF mhraukis and farmers Of tina. vicinity
fof The PpfPo,- Of getting funds TO enable them 10
build a railroad rom mil~sukis 10 ,ons point
on the Mississippi river, These securities were
made redsemsbs In ten yesr' ana TO Interest
of ten per cent, and were therefore. valued q. par
Accordingly Mr. Flanders had been 10 the city bat
sfe~ DAYS When he called u.on b. James Mckay, vho
introduced himself aud said he heard that he had
Western securities for sale and that be believed
broker Of kis acqusinisnee would purchase TEEN;
snc r.pressntsd that Mr. John Cry6sr Of the hrm Of
Wsinore Crydsr, -as the broker aludsd 70. bat re-
que,tsd his (crydersl nam. should not be knosn. as
The brokers In III. street might affect the market.
cobfsqusntly the operations were kept q, quiet ne
possible An interview -as then had between Mr.
flsr d.rs and Mr. Crydsr, which took place At the
counting room Of Wetmore Uryder In the afternoon
after b0'insss hours Here Mr.. Flanders ~as intro.
n. John Cryder, the member sf that hrm. These
interviews rsspsc lively took place at the countng
room Of The house shove nsntioned Ultimately terms
were entered into By Mckay and FLANDERS tor the
pureta ace ~ said securities. 70 be taken Ia tlo 900
lots TIE ,scurisss to be d-po.tes Nth responsible
hou,e and only TO be delivered as paid for Mr. Crydsr
rss the purchaser, through Mckay Who acted a. the
brt her In III, natter for which services he received
saB55 Mr. Mckay mentioned the house Of suschsn
scott With shcm the securities we're 10 be deposit
ID 70 b delivered By them when paid for q per
agreement subssquently however. It -as Fixed upon
20 esTostt the With Jsudon Co. ss that house,
upon inquiry made by Mr. FLANDERS. found to
y. amply rsspontibie Mr. Wander. requestsi Mckay
70 intruduce him 70 Jsudon s. Co. bsfors his return
oWnconsin that be might b. satisfied With the men
Accorsinsly Mckay escorted MIN 70 the counting
room q Jauden Co, aud there introduced him 70 q
Mr. AleNsndrr II Jsuoon, Who Mr. ga induced to
believe rss the heed Of that house. NJ Fland.r.
turnta to Wisconsin. and came back 20 Nss York
about the 9TH Of November foll3wtsg aud the next
day, the 5th Of November. tbs paper. prepared
ans executed by FLANDERS TO Crydsr. Mickey and
Jsuaon being present Il the time Nos thu. the
operation vas consummsted. aud the securities
deposited. ss supposed 10 b. -ith Jao5on A Co.
Mr.. Flanders returned home 70 au~auks sub.s.
qu,ntly on locking over his papers he Discovered that
The isbatUr. TO one of he papers signed John y.
Crydsr the p" written in between IN t4i,t man-
ner Ths fact az once surprised Mr. Rlsnder. as
be kner the nsms ought 20 b. John Cryder. and not
4 JohnP Misunderstanding howsver, tue nr.t so 900
| OF the securities we're taken. and Mr. Pap isrs re-
I tsitsd the each through the M.rchAnt, Bank. But
that v.tbe sr-t and the received the bssne-
vas dispessd ~ ny the PARTIES holding them ct som-
ten per cent lsss than ga. guaranteed 70 be given
/ street at that prizes, came h. the knoplsdge OF Mr
FLANDERS -ho hurrisd forthwith n the city % In.
,e'ugsts The csse ON his arrival here he
| tanned that be bad been duped - calling tn.
| boufe a Jaudou 20. be Nas informed that A sxaa
| der " Jsucon ~ss not member OF raid house but
brother ~ the hesd Of that firm and that no deposits
~ the said securities had ever been made with 10 Al
house and in reference TO Cryder h. ws fospd to
| cupy Q similar position he being the son OF Johr
CfJ DER. Of tn. brm OF Wetmors asd Cryd-r and no
| contested 9TH that house a. partner IL d
| po- alleged that Mckay Cryder and JandoI
have Oh aimed the above named securities, amounted
to sss 600. by fsiss aud hauduent represents ton.
The shove facts derived ron the evidence oe
fore the Police Court which in great measure pbs.i
biz !. parf, matter In justice 10 the par
ties thsy stss that the vhoie matter j. subject 70
| sxrlsnation vixen heard before the msgtstr..e Nj
Mckey and Oryder vere plscsd IN the custody o. q
tfhcer unti the case IL further investssted
LFFt Der Owing 20 the crowd u sdvertisemsntsi
thi, DAY paper compelled TO defer unal u
norrew the publication Of vat amount q Interest
irs LEGAL matter, which -e have 10 typs