The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1857-02-02
OF See first page.

pany confirms the statement OF the cIrcum-
stances in regard to the embezzlement of the
bonds by the agent in England, made us few
days ago. The agent, VIM. Digby Seymour,
it appears, is a solicitor, and appends NJ r to
his name. The correspondence discloses the
coolest effrontery in deliberate villalny that we
have witnessed in long time. lie induced |
the former simple and confding President o.
the Road to transfer to him--according to the
assignment on the papers-absolutely and
Internationally $650000of the bonds TO dis
pose Of at his discretion. But his letters
admit indirectly that they were held by him
in trust for the company. After all the fat
tering promises by which he procured this i'm
prudent assignment of the bonds, had proved
alacious, the Company directed him in repeat
ed communications to withdraw the bonds
from the markat-cease his efforts to sell
them-and to deposit them with Messrs.
Earrings.
He replies cavalierly to these instructions,
and says he is very ready to relinquish the
trust which he had assumed gratutousty, to
aid the company, and acknowledges that lie
then had all the bonds in his possession I'M
sed. After all this, he disposes of $4,000
Of the bonds in the purchase Of a steamship,
for which he transferred the bonds at about
so cents on the dollar. He says as the bonds
could not be sold for cash or iron he bought
the ship with the view of selling her for cash
or iron for the use Of the Railroad Company,
and this he appears to have thought very
adroit piece of fnanciering. After sending
her to the Clyde, and spending large sums in
repairs on her, she was seized by the original
owner for the balance Of the purchase money,
and bought in at Sheriff SAFE for the amount
due on her; so that, all which had been paid
or expended on her was total loss. This in
comparable agent now cooly says, as he pur-
chased the ship for the benefit of the company,
when they shall assume the loss and make
him liberal compensation for these services, he
will settle with them for the balance OF the
bonds. He tells the company if he should
"be subjected to any annoyance in re-
spect to this business" he shall "insist on
compensation for the loss he has suffered" in
embezzling their property, and adds:
The property in the bonds is vested in me
by deed. | hold besides, an absolute power
of Attorney from the Company. | was cloth
ed with the power expressly to enable me to
dispose of them as Knight deem prudent.
The failures in the public enterprises of our
neighbors on the south side Of the Ohio, do
not arise from any lack of public spirit and
liberality on the part of the people in furnish
ing means to prosecute such works, but from
an absence Of administrative talent, and prac-
teal business experience in the chief manage
ment. They make the common error Of
selecting prominent politicians or men who
have gained some fame at the bar or on the
the stump, to direct works requiring the very
opposite qualifications and habits to those
which such men possess. Two of the most
important enterprises in Kentucky, the Louis
vile and Nashville and the Henderson and
Nashville roads, have been retarded and theil
success jeopardized by placing men Of more
political reputation than administrative talent
in the management of them. All evils cure
themselves in time, and the experience Of thC
past, will prevent like errors for the future
Henderson, famed for the shrewdnesS, energy
and intelligence Of her business men, coulc
have made a selection Of officers for her road
who would have been unequaed for capacity
and fitness by the managers Of any road il
the country, and who would before this date
have had the cars running over greater part
of the road. We are glad to see the names o
some of these men in the new Board of Direc
tors. They afford good guarantee that tht
road, notwithstanding the embarrassment
the past mal-admnistration is likely to entail
on the company, will continue to go ahead.
The grade work is nearly completed fol
twenty seven miles from Henderson, and The
work is in forward state of progress seventeen
miles further, to Madisonville. The amour
already expended is about 100000 TIKI
amount required to prepare the road for tht
iron from Henderson to Madisonvile forty
four miles, including cross-ties, will not cx
coed 100000. The company can command
abundant means to complete the road, as soor
as confidence shall have been restored among
the present stockholders, and the community
generally on the line. The Engineers est
mates for the unfinished work, as published
are too indefinite to afford reliable data as t.
the entire cost Of construction to Madsonville
but enough appears to show that the roa(
will not be an expensive one. Eighteen hun
dred tons of American iron have been contrac
ted for at $72 per long ton, delivered at tn
wharf, in Henderson, with parties in Coving
ton, KY.
o. Mr.. John Appleton, of Maine, former
ly Secretary Of Legation to London under MI