The miners' express. (Dubuque, Iowa) 1849-1854, 1854-07-19
SCuUYlERIS MS.
From the N. Y. Herald.


From the N Y. Herald.
Itoppears that MIR. r be't Schuy!es's swnd.
ling Transactions were no, conf .ed to the New
York aud NV ilav-n Railroad Company.
7 IA, II rrem Il ,lr I'D Cd.npaly nave been sui
fer.r. in IA dit. r.n way Tnetc has leen no
over issue Of stock, bal tine ass Is h Company
have been puro ned aud Appropriated to his
ludi idua use. 1t Is oui impression that the
wh"E rs MI knnAn vet We lrust the worst
has air. adj come To light. Mr. Schuyler has
moi been c,.nhutd t. his house by sickness, late
". jnc statements abnu; an attack Of hem
nrragr Of III, lungs, were Inventions. He has
gone Ia { ahada lnr other cool place. New
Tuik too hnt ia h..ld ltlh
Two mil oa of dolil Is an immense sum 10
be tx r~un d by from the pockets of
about Two ht!rIiIt Stockholders, particularly
vii u nan, o h.-r 81 'cKholders widows
AID .rthans vii hrt .'neir all invested in The
cnii,panv and d. p ndt mt upon regular divid-
ends iur lne raym-n OF their current expt nses.
Siany 81 has class Ina We been struggling along
dur ~ H.. 81 it'n s.un of dividends caused by
the Nnrwalk accident, hold ng on 10 their stock,
under all circumstances, with the hrmesl belief
ii. It's snlv, ncy, with the rongest h pc that at
an carly Is, dividends would be resumed, and
all would ga along smoothly and prosperously
aga n. Al the pleasant anticipalions have
b, en- suddenly swept away, and the bank
rnptc --t:ller, helpless bankruptcy-of the
company occas,ohed by the of man
Sc"r have been ruined to pamper the ex rava-
rance and aid the specuia'ions Of this highly
r-tp.c able member OF our aristocracy.
If Sing Sing does not become his residence,
tlat Institution might as well be at once abolish
ed. The probability, however,is that he will
not be moesied-lhat ne will be suffered to live
quietly upon the reserve he has undoubtedly
secured, and die peaceably in his bed, amidst
plenty, while many Of his victims will, perhaps,
daily suffer Tor The want OF the ordinary neces.
sarTes of life. The privation and distress
brought upon so many helpless stockholders, is
but part OF The great evil arising from such
vllainy Our laws are very defc in this
particular, but we have not the slightest idea
that any reform will be made.
From the ~ Y. Times
Governor Morris is reported this afternoon to
be in pecunary trouble, and the rumor is that
his confidence abused by Schuyler. The
Harlem Railroad Company are also severe snt-
ttrers He had no such easy access IT, their
transfer books as to infict the same character of
loss as uuon his own Company, but Is their deb
tor in large sum for the bonds of the cencrrn,
unacc ountei for, and severe shock is thus
Civ. n To The market value Of The stock 1t fell
81 per cent. Railway iron, purchased on
! credit abroad for certain unfinished roads in
which he was contractor, has been derived on
arrival here, or pledged for money or mercan-
tile paper, to he used for other purposes. In
| round numbers, the sum total of the misappli-
cation OF property, as at present ascertained or
reported may be thus stated:
Is, 900 shares New Haven Stock, fraudulently
issued 81 900. 900
Bonds of the Harlem Railroad Company 300 900
Advances Railroad Iron diverted 100000
Total sa.so5, 900
From the Journal Of Conn cree.
The developments noted furnished a got
text for a severe rebuke Of few Of the banks
which have been so eager to lend upon stocks
in preference to lending to their regular mer-
camille customers. But inasmuch as their
moral is obvious. and The danger is now tina,
our banks will lose all confidence In such secu-
rites, and go to the other extreme, we forbear
further commen s..
From the N Y Express.
The Parker Vein fraud was S., 100000 nom
inallv, but the stock was selling at so low a
price that the cash realized from $7,O0OOOO Of
stock, deprecated to so low a market value
was not comparablein amount to this
The largest defalcation befor this we believe
to have been the over issue Of stock by tina
President Of the Schuylki Bank of Philade-
phia, on the bank of Kentuky, for about $780,
600
Mr.. ScHUYLER's Letter OF RESIGNATION
The following is copy of the letter from
MIR Schuyler resignng his post of President 81
New Haven Railroad. and absolving his brother
from all knowledge of the fraud, which he al
| the same time confesses
New York July 3.
Gentlemen | beg to resign my seat in the
| Board of Directors of the New York and New
| Haven Railroad Company, and also the office
| Of President and the appointment Of Transfer
Agent of the Stock Of the Company.
| Your attention to The Stock Ledger Of your
| Company is esse ntial, you will find there much
that is wrong. The details can be furnished
you with precision, though cannot do so.
| In reference TO the connection of these trans
actions with and G l.. Schuyler, | wish to
make my solemn assurance that in no way has
| my brother been concerned in them, nor has he
ever known or been informed of them. In fact
| there was no mode in which he could obtain
l:--4--~-urry'II- pr rTun mn SUI, ana nave
ever been quite as careful to keep him in lgnor
ance as any OF ler person. He could not even
have ascertained the facts from our own books
and accounts, and to those of the New Haven
Comnany in my charge he had no access.
Your OBJ ,dient servant.
ROBERT SCHUYLER.
To the Directors Of the N. Y. T. N. II. r
R.