The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-03-17

The Financial Trouhles - Phineas T. Bax-
[From tia Sunday hareury. March l6.l
BARNUN's DIFFICULTIES.
Mr.. PhDess T. B.rpnm WAS sxAminsd, last Friday,
before NJ. Justice Hoffman, Of the Supreme Court In
relation to his private affairs and his insolvency.. He
appeared with his counsel Mr. Gerard and for several
hours was suhjected to most rigid ORDEAL He
ed promptly to every question that propounded,
which must have satisfied every of the purity Of his
integrity.
Although Mr. B.rnum admit. that the property now in
the hands OF his asgnees for the benefit Of his creditors
will not under the existing state Of affairs, l3uidas
one third Of his liabilities, he still considers himself
solvent and Gays that he will allowed 10 proceed in
surplus sufficient to secure him . fortune
There was one remarkable statement made BY Nj.
never been . correct and judicioas business He
says that he had supposed that he endorser for
hundred thousand dollars only but to hi. infinite sur
prise. he last January discovered that he their
paper to the extent Of nearly half million Of dollars.
No prudent endorses for his friend neghbor,
assists him in business without knowing to what extent
he loans his name Most Of the notes OF the Jerome
Clock Company. on which Mr. Barnum Is found
dorser hs signed and endorsed In banksthua
leaving ,he company 70 III up the paper Is best suited
consider himself morally Responsible because they wore
endorsed In blank We cannot agree vi him in thus In
stance, and TO find his good nature, confidence
and carelessnes. led him into deplorable
The examination Of Mr.. BArnuu has not yes been
cuded and II Is not unlikely that 1t viii occupy portion
preston on the mnds OF those who Instituted these pro-
eeedipgs that Mr. Bsrrum has insidiousy disposed Of
some OF the large estates which once stood In his name
and, possible they intend 70 fasten him the charge
of perjury. We do not believe they will meet with much
success in their undertakings.
During the examination Of Mr.. Barnum yesterday, he
stated that his enue wealth consisted in gold watch
diamond pin, and few obligations In his favor, BY him
considered worthless He further stated to the court
shat he supports himself keeping boarding house In
Eighth street the provisions being furnished ~ bis
IN law and the vegetables contributed by friends in Com
Decicut. He ikewise remarked that he had but two
suits of clothes and s25 in cash 10 his possession How
are the mighty allen
from the SUNDAY Leader March 16.]
THE LIFE OF A sHowMAN-RICH TO-DAY AND
POOR TO -MORRow-MERE CUNNING DANGEROUS
ELEMENT IN HUMAN CHARACTER.
r. 7. Barnum, who ew month ago was reputed to
supreme Court brougat there by Of his creditors,
to explain all about his properly BE states that he
row lives IN this city that the Museum once his and all
its curosiies have been sold for $ 000 that he paid
$2 COO fer it fourteen sgo and that now be has not
the least interest in it. He says that last June he was
worth $500 eco His property he valued at $500 900 and
he owed $500 000 About This period the Jeromes
along and wished him to endorse their notes for $c0 00O
Brnum did il and repeated bis on similar
paper he supposed take up the former Final he
sseeitsined has he had endorsed 70 the amount of
$464 000 and far he knows there may be miuion
OF dollars Of this paper out ~ he often sgne1 In
blank for the Jeromes to put in what amount they
chose. STILL Barnum don't consider that he has failed,
Jeremes don't exactly consti failure &c alleges
that the holers Of these of bis the very
persons who induced him 10 become responsible tor the
Jeromes.
The splendid paintings at Barnums house at ranistan
he he SOLD for 900 though they cost him
His assets Crystal Palace stock which not
worth halt much the shin of the celebrated woolly
horse once in his possession.
Nov, whoever has read Barnum's biography, written
by himself will consider 1t very strange that he did not
follow his own ADVICE Who that knows Barnum could
believe thst he would endorse the notes Of clock
In the world, according to his own estim.te Of the
value Of his property in June last he says he owned
property which he valued oo 81 $500 600 and 1t vas
$500 AT this very time he endorsed for
half miicn Of collars without carefully scrutniz
ing be responsibility OF those whose paper he put his
name to. He even mor'gaged his property to raise
for the Jeones in December last There be
woody horss in all this repused failure Of Bsrnum
after ALL The Jeromes did get this $50 000 BArnum
say he raised In bonds several counties and
towns. but friend Of his just at this time had looked
they were bankrupt and he was ruined Barnum then
SOLD these bonds at loss Ct $50 900, and took the
money he to pay bis own fs' e. a,n who,,.
has read his biography, from his own pen must be eats
fed that his moral principles strongly de-
veoped His book which he managed to tell IN various
countries of the globe has dsgraced the American
1t lie nothing but history OF the art Of getting money
point Of view no better than thousands ~ho have SUIT
e ed the penalties Of the Laws for such practices The
world always better off without such geniuses Bar
No pretends that he possessed tAlen. In
any honorab bic and dignied employment He Is . mere
cunning Snowman, who would seize upon other mems
ideas and apply them 10 the art ofmoney making without
proper Remuneration in business point Of ve~.
SHOW me how you i've, and where you live, and
where you get your mears to ve This one Of the
questions put to Bernum during his examination and he
replied to It BY saying that ne lived in this city, in
Eighth street, ano kept boarders and had no other
OF support except some mest given him b. his
son in law in Connecticut and some vege ables which
grew hs farm Last year. He said he had gold watch
ard breast pin worth some four i've hundred dollars
which be would produce, required to do 50. He also
casually remarked that he had two suits Of clothes and
about twenty Eve dollars in money.