The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-03-19
the FINANCIAL DIFFICULTIES OF ?. I. BARNvM.


THE FINANCIAL Difficulties OF P. T. BARNUM.
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Supreme Court.
SUPPOSED MILLIONAIRE MONEYLHss-rHE YANKEE
oLooK BUN D0wN-BARNUh "THs POOREST kIND
OF A BUSINESS MAN"-rHE STANDARD OF MORALI-
TY FOR sHOwMEN PEG OR TWO HlGHKR THAN
THAT FOUND IN THE Atmosphere or WALL STREET.
MARCH l8-The defendant was further examined this
morning.
Q. Do You hold note against John Taylor, Of Albany
for large aounts A. loaned John Taylor and others
500 in July 1851 for whch loan took John Taylor
and Others JOINTLY and several notes payable in Ave years
from that date that held by the Pequonnock
Bank ofBrdgepor Connecticut collateral security for
debts and for clock debts for about that amount
Q. Did that note bear interest ts fscs at per
cent? A. 1t does.
@. Have you received the amount of interest tina
Ioes A. They gave i annually for $700 with
interest payable whom the large note mstursa in July
1866 these interest notes, amounting to $6,So0
cnangsd for mortgage which mortgage assigned to
secure the clock debts assigned 1t tos bank TO which
| the clock company were Indebted.
Q. Are all the mortgages your property bona fde
Tor value received. A. fney 6ond fde for real
| debts; never gave any others.
Have you not number of business Of different
parties that you received from the Jerome Company A.
did have but they ell Transferred and passed oat of
my possession to secure debts.
Al this stage of The proceedings the adjourned
to the Office of Mr. j. w. Gerard Jr, the defendants
ceunsel, where II resumed.
O. Did the Jerome Company assign you the lease OF the
store recently by them In Broadway A. They
and owing BY me for more than the consde-
ration of the assignment
Have they put you in possession Of any clocks or
behafs A. They put ms in possession of 81 900
worth q cocks, and attached abous 500 worth more
Q. Wha has become of these clookss A. hsve sold
portion Of them-more than hslf-and assigned the
to debts tor more than tho consideration
Q; What bscame CT the proceeds Of the portion sold
q. Have you a mortgage for s4 600 .ssins. a Mr.
Hamilton, formerly Of Bridgeport now Of Chi,agos A.
=: i 1a
aeDts; it was more than the consideration.
9 Where is s. > JsromsS 4. He saiisi for Liverpool
| In the Persia, on her passage from this port.
2: When will he RETURN A. BE eaid hs should return
Q. Have you claim against the Jeromes for fraud in
Their transactions with you? A. don't like to charge
any man with fraud oonsider 1T more charitable to
oy ,bs great multiplicity Of their for they
had stores in New York, Philadelphia Boston, and IN
England, and manufa stu.sd one or Two million dollars
that In June last they statsd TO me- IN writing (Which
taemsn s now in my possesaion that they were tnen
worth $l67 00O this statement made from
sber previous Jan lary annual sta,emsnt; wnsrels,
within months from that time, they have proved TO
be bankrupt for several hundred thousand dollars and
YET they not claim have sustained any eria loss
src+ they made m6 that statement think the charge of
oreotors tnsn shsnreves for these same creditors IN
June last and siuce indused by written AID verbal
statements to that effect to believe that the company
wealthy, and in the language of Of tho letters
ceived from cashier OF New Haven Bank that they
we're receiving as much accommodation as they ready
deserved BY thus nvigng me into this transaction with
the Jeromes these creoitos have secured large por
uon Of their debts BY tauerrng sad debts from thsir
= ..1sss Ssa ":s a. aG ia ~ s:s
largely for the Jeromes as they were valuable customers
Of his continued till Late In December last to assure
L hy
| s.ntstons inclined assume the bonds and many
Of the obligations that he in tor the Jeroe he
one OF the who advised me- in Dscsmber last,
borrow 500 900 to lend to the Jeromes think there
that the charge of fraud more properly belongs to
Them than to the Jeromes who were their tools
catspaws still did endorse paper tor the Jeromes sup
| poAjpg 1t was for walls.
| You say you have money-how could you hsve
raised the $i06 coo which you offered to With
hs clock cIeoitors A. could have reserved much Of
ns money wcn nave since psao to private crea'tSrs
nectcut which viii be sacrificed under assignees'
for three four hundred dollars
could have realized had tn disposition Of the pro-
Q. Who owns that portion Of the Museum which con-
tsins TIE theatrical roemY A. believe it belongs TO
Mr. Morris who lives at Yonkers and who leased IL to
MI Ger in, and Mr.. Genin leased It to me; both leases
Q. 10 you own copper mine nine ia connecticu.9 A.
did and after losing about $40 900 in working it,
sold 1t out for about 900 in December January
| last.
Q. Are you interested in any circus company in the
United States or ekewhsres A. lam not.
/
neye bords you have held since June last and where
AND how you have used them? A. am the poorest kind
of business man, but my late bookkeeper Is pre-
pairing statement which shah be furnished you within
twenty tour hours, giving you every item to dollar you
win fDd that have desire to keep anything back for
sish you understand that the standard of morality for
sh 70 peg two higher than that found in the
atmosphere Of Wall street. Qaughter)
O. How much do you owe he Nassau Bank, and what
amount Of the Pequopnock Bank stock do they hold
collateral? A. the ba aak S18 566; believe that to
be the amourt and they ho S12 OF the Pequonnock
st ck and m gsge real estate in Connecticut to
any deficiency.
O. What the present value Of the stock OF the Pc
qusnnock Bsnkf A. don't know what It would bring
at fcrced ssle, but 1t worth the books OF the bank
from $106 to $12 per share; the bank has lost
| dollar by ne the Jerome Compsny.
O. You say you have paid and secured $50 600 Of
the jerome Clock Company's cebts-why did you pay
that amountS A. In instances in order to
attachments from my property and in other In
stances because the parties holding jerome paper held
colaterals tor any indebtedness which they might
have sgainft me;
!! Adjourned TO Wednesday morning.
Police Intelligence.
/ vITRIoL THROWING AGAIN.
The attention of the police has lately been
called to actions Of some maliciously disposed in
| div,duais Who for several weeks past have been