Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1857-11-25

L HE OF. LOUIS SWlNDLERs. ne Hollow
ing particulars of the thirty thousand dollar
s~ indie III st. Louis, we COPY from the St.
Louis Democrat of Friday morning last.
"Sevem years ago exploded in New York
city. the heavily involved dry goods firm of
French Hadsell. They effected a COM
promise with all but two three creditors,
separated, and began each anew French
was invited 70 Boston by q. w. Mclean, then
residing there, and since well known and
highly esteemed citizen of St. Louis. He
(French) bought largely, and made extensive
sales for two years, patrouizing the firm of
Pierce, Brothers, & Flanders, wholesale Cry
goods Dealers to the amount of 100000.
His payments were, during tins period, regu-
larly made in advance of all purchases. Two
years ago he brought to Boston his old part
ner, Hadsell. and procured credit for him of
Pierce Brothers & Flanders, TO the extent of
5000. He received credit for six months,
but paid up in two mouths. His purchases
were continued up to some $40, 900 worth,
and his payments we're always prompt. In
August last, Hadsell again went to Boston,
with a large amount credited to him in ad-
vance Of his past purchases, and boughta bill
of the same firm, to the amount of $1,000
OF the other firms in that city he bought
still more, and proceeding with prime credit
to New York and Philadelphia, made similar
bills in those Understanding III all to some
$50, 900. At about the same time French
bought bill of $1,000 of Pierce & Co., and
similar bills of other firms in Boston, New
York, and Philadelphia. The two then re-
turned to st. Louis with a stock of some
100000. Prior to these purchases remit
tances had been remarkably prompt-thence-
forth they ceased entirely. In excuse they
-, Il.
getting three per cent. discount per month on
payments which they were making to their
Philadelphia and New York creditors, but by
December l, would remit from $40, 600 to
$4,000. 1t was shortly ascertained that not
a dollar were they remmitting to Philadel-
phla or New York, or to a creditor in Boston,
but were making forced and ruinously low
sales here Mr.. Carlos Pierce of the Boston
firm, arrived here on Monday, and was cor.
daily received by Hadsell, who assured him
that he was just preparing to surprise him
with heavy remittance at leastS5O00. French
received him i'll the same style and promised
$4,000 in a day or two Mr. Pierce now felt
the old confidence in both-fnding in their
stores still remaining some $4,000 worth of
goods.
But on Monday night French, and espe-
cially Hadsell, made active efforts to cash the
his clerks to collect all their Jew customers in
this city, paying $40 for each Jew customer
brought in On that night Mr.. George E.
Currie was met by the police and further
sales were for the night stopped, as before
stated
On Tuesday, Pierce being engaged with his
friends. and suspectng nothing, did not visit
Hadsell's till one o'clock in the afternoon.
he found that Hadsell had not been at the
store during the day, but saw the store crowd
ed with customers buying rapidly at their own
prices! He then procured a writ of attach
ment, which was served at P. NJ, by which
time, of $4,000 worth of goods left in the
store on Monday night, not $4,000 remained
When the writ was served, younger
brother of Hadsells slipped with large sum
OF money-he having acted as cashier in the
forced sales-out OF the back door, and
escaped. He was at length traced to house
on Seventeenth street and arrested, with the
clerk Chamberlain on the morning of We'd
nesday. French had fed, and an attachment
was served upon his stock. vast quantity
of costly fabrics were found to have disap.
peared from the drawers.
On Wednesday morning Mr. c. w. Nc
Lean started for Bunker Hill IN pursuit of
Hadsell and French--they owning real estate
there. He came in sight of them but they
escaped him, and nothing has since been
| heard Of them. Their property at Bunker
| Hill was attached, amounting to some ten
thousand dollars. On Hadselrs account
some $4,000 are recovered.
On Wednesday night, Holbrook, clerk
for Hedsell, was arrested. With him were
| found important papers and large amount
| of money. He offered to tell much if re-
| leased. He said that French and Hadsell
had, some time since, sent the most of their
| stock to Frenchtown in charge of the clerks,
! Chamberlain and French; that at II o clock
of Monday night, French, Hadsell, Holbrook
and Morrison, went to Frenchtown, where
sale was made to Morrison OF the balance
there remaining, worth $4,000 for $500.
| Yesterday morning Marshal Rawlins, the
| Sheriff, and Mr. Pierce, proceeded to Nor
rison's store. He stoutly denied that he had
bought any OF the goods in question but Mr..
| Pierce readily found numerous articles bear
ing his own private mark and the peculiar
stamp of his firm. The Marshal was about to
arrest Morrison, when the latter agreed to
give up all the goods on receipt of what he
had paid for them. To this point $500 worth
only had been identified. 1t was agreed to
| pay him $500 for the whole. Thereupon his
visitors were taken to the top of his shelves,
where nothing was visible but mass of dirt
and rubbish, apparently accumulated for years
over a surface some two feet by forty. But
the covering boards being removed, bin forty
feet long, two and half feet deep. and two.
feet wide was revealed, filled with costly
goods. These were taken as part of the prop
| efry attached.
The claim of the Boston firm will be COW
cred"