The Democratic sentinel and Harrison County farmer. [volume] (Cadiz, Ohio) 1851-1852, 1852-04-07
From the Ohio Sdtcsman.
STARTLING DISCLOSURES!
stupendous Swindling!!
WHTG VI, WFIG,

tween certain Wings. The following peu
ton Of II. +. Page, Esq, was we learn thu
cause ofit If the statements herein con
tanned are true, they show bold swindling
and whether true or false, we do not wondeI
at the auttering they produced. It's tht
richest article we have read since the groa
Galphin swindle was made public.
To tie General assembly ofthe .State Of Ohio.
Your petitioner represents that the Co.
Ilumbus Insurance Company has recently
perpetrated such frauds upon the people o.
this State, and of other States, that an ex
animation and exposure of its affairs should
be made
For the last three years, and perhaps fol
many years, this Insurance Company has
been totally insolvent. Its insolvent condl.
lion has been well known to its officers, who
did, by conspiracy, most artfully concsa
Its bankrupt condition, and by false state
n, >ents, verbal and written, misrepresented its
cond,' ton to those with whom they transac-
ted busil'ess.
Alta time vhen they had not dollar with
which to pay thesr losses, they insured prop
erty to the amount ot hundreds of thousands
of dollars. They had no means, or reason
able expectation of means, during the last
three years, with which to pay loosses, ex-
cept by borrowing money, which they OBJ
Itained by fraud. During this perlod they
continued to transact business, and to issue
and renew their policies in every part OF tue
Union.
Some time in the year 1851, two OF the
Ioficers Of the Insurance Company, to wit:
VIM. Miner and Demas Adams, jr obtain
ed a loan of ten thousand dollars of the
Western Bank Of Springfield in Massachu-
sets. They stated to the President Of that
Bank that the Columbus Insurance Compa
ny was in solvent state, and had clause
in their charter authorizing them to bank,
and that they wanted this money to bank
upca and not to pay losses, These state
ments were all known by the said Adams
and Minerto be false and fraudulent. The
loan was made to the Insurance Company,
and the whole amount is lost.
n They obtGined a loan Of $4,000 Of Thom-
las Corwin, by coneealing and miarepresent-
ing the condition of the Insurance Company
and its officers and under such cireumstan-
ces Of fraud as your petitioner is informed
Hand believes, that a criminal prosecution
would lie against them. It .Ea. as
In the year 1850, the directors increased
, the stock ofthe Insurance Company without
authority, obtained subscribers in New York
and Massachusetts, by fraud, and took notes
therefor to the amount of $47 900. Since
the failure Of this Company, payment oi
these has been resisted upon the ground oi
fraud and illegality.
About two years ago they obtained loan
of GIC0,00O of the State of Ohio, upon the
guaranty of certain officers and Stockholders
of the Insurance Company, who are now in
solvent, and who resist the payment Of thi'
debt upon the grounds purely technical.
Certain Of the directors of this Insurance
Company obtained Office in the City Bank
and perpotrated frauds uponit 50 as to waste
and destroy about 100000 of its stock,
d Your petitioner is informed and believes
that Joel Buttles, one of the principal mer
in ths Insurance Company, became 2 ditec
tor in the City Bank BY taking $4,000 q
stock, for which he gave his note, and tha
he received dividends upon the same, tha
the stock has since been transferred to hi!
logatees, and that his note is not yet paid,
Your petitionertis also informed and be
leves that the insurance company hel(
$4,000 in the City Bank, for which the!
gave their note. that they received dividend
upon it, and that their note has never ye
been paid, Ia tea .Fa.aaa. "a .....s ,,,a
Your petitioner is also!informed and be
lieves, and SO charges the fact to be. that N
- II. Swayne became dire tor in the Git
le Bank, by ytaking an oath that he was th
- owner of IS, 600 of stock therein, that tlli
stock was transferred to him by Jos. White
4 hill, a director and stockholder in the Insu
rance Company, upon certain conditions, an
!, not absolutely. After the failure of the In
sufance, the said Swayne proposed to re
!, transfer the said stock, but was prevented
\ Your petitionerbe believes the whole transactio
n was fraud to place said Swayne in the @
Z flee of director, in order that the lnsuranc
q Company might obtain the control of tn
City Bank. dH4 ,ssa Efl ,1 Aaa .a.aa.rr
Ds At the organization Of the City Bank, j
4. the year 1845, N. iH.Swayne, William NJ
ly ner, and Jos. Nhitehill, were chosen diret
ID tors, togethcr,with other persons, and Tho
Noodle was made cashier These person
8, continued to- gil said offices from that perip
Il. until some time in October, sl8blY yyhe
h Wm. aiiAsr andsJessl Whitshill resigps'
n % so3.liie' llad = ag o85 8iys gsn
q b laa adi ~ ot.6y II i.'iaasaal siaii
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