Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1854-07-12
The New York and New Haven Railroad
Fraud -Fnrther Developments


The sturcndous fraud in the New York and
New Haven kailr ,ad stock continues to be the
engrossing subject OF interest in New York
Mr.. Robert Schuyler, the late president, and the
alleged guilty party, has fed the country. He
left New York ON Tuesday, and was ast seen in
the cars at Saratoga, supposed to be route for
Canada. The Eyenn Post says:
The day before he left on the Sd of July. he
and his brother executed an assignment of all the
property belonging 10 the finn, as well as his ia.
dlvldual property, to Mcssrs. Bowdon * Bar
low, attorneys, No. 90 Merchants Exchnnge-
The assignment we have been Informed by Mr..
BoYdoin, is made for the benefit of all the cred
ltors, without preference, and the assigrees have
taken possession of the property, and will as
soon as possible make public report on the
condition OF the estate, its liabilities and as
sets.
Mr.. George Schuyler has not seen his brother
since Monday, and he says "he never expects to
see him again" He says, also, that he is not
aware of the firm hcing benefited in any way by
the large sums arising ont of the Ii, pothecaton
OF the spurious stock. In consequence of he
assignment of all his property. Mr.. George Schuy-
er has resigned the presidency of the Harlem
railroad company.
One OF the many incidents publicly mentioned
in connection with this gigantic fraud is, that
Mr.. Cornelius Vanderbilt had an int. view with
MIR. Robert Schuyler subsequently to the an
nouncement of the failure-otfered him at once n
check for : 10000, and rendered further asss-
lance to the extent of even three millions, if ne
cessary, and would carry the New Haven and
Harlem stocks to par, if Mr.. Robert Schuyler
would only assure him that "all was rit hit" To
tins MIR. Robert Schuyler made other reply
than shaking his head. No such assurance
could be given. Tue enorniiy of this crime,
committed by an old member of one of the most
arStocraic families, and the grandson ,f Gen
plI1N- Ipr, i,n ,l,,ti,, h..
IN financial circles from which the country will
not soon recover
As n matter OF course, since the discovery of
this great fraud, everything pertaining to the
past history of Mr.. Robert SCHUYLER is seized M
ON with great avidity. he matter of his secret
marriage Is much discussed. This was unknown
TO majority of people until since the failure
Mr.. Schdylerh had been living bachel.r and
was supposed Ia be "A bachelor until few months
since, 1t was discovered that he had been PR
yately married many years previous, and had "A
lamly OF ehlldren,one r two OF whom had grown
up and got married. They had gone under the
name of Spcer. Mr.. Sehuyler's explanation
was that he saw pretty gnl with whom he fell
IN love; she was poor and he knew his family
would object To the match SO he married her
privately, and had never diyulged the secret.
The Express of Thursday afternoon SAYS:
The board ut directors of the Harlem Rail
road Company have been engaged this morning
IN an investigation of the affairs of the Company.
We under stand that there has been no over-is-
sue OF the stock, BAT Robert Schuyler has mis-
applied the proceeds of the bonds of the company
recently negotiated to the extent of $500 1000. =.
! The cnormlty of this mans doings are unhcard
! OF IN the annals of finance, and from what is
known we may be prepared for further develop
| mpnts.
| Unfortunately for the credit of the country.
Mr Schuyler had great reputation abroad as
/ vail
railways, was well known ON the Exchanges
OF London, Paris Amsterdam and Frankfort. as
well rs any of our oldest and hest established
mercantile houses. He was the originator and
almost sole executive of that important work. the
Illinois Central Railroad, and only resigned the
"ihee OF president OF that company in oouso-
quence of the law of Connecticut RESTRICTING
presidents of the railway companies in that state
from presiding over more than one railroad cor.
poration at the same time.