The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-08-03
WHOLESALE SWINDLIYG IN FRANCE

Twelve men on Saturday tried by the Tri-
bunal OF Correctional Police of Paris on the charge
OF swindlng, IN connection with a company called
lie Cheptel This company was started in IS53
with nominal capital of 1000 00Of to be raised in
shares, Tor the purpose of providing oxen to farm
ers to be tattened and then selling them the pro-
hts OF the sale to be divided between the farmers
and the company. The company had two eerants
each with salary at the commencement of g. OOOf
and afterward of l0,000f; and it had directors
sub directors, and inspectors at salaries varying
from l,000t to 6.00Of., with Is per cent. on the
profits IN their respective districts, and per cent
on all subscriptions obtained by them.
In the trst year, the operations of the Company
only amounted to ,260f, and yet the salaries of its
oincers and the general expenses were 9S $500 The
gerants and agents gave out that the COMPANY was
destined to realize profits 100 900 G0Of in
its hands being for example, it is said certain to
reallze 25,00O, ,OO0f. year. Several persons sub
scribed shares to the amount of 725 4O0f of which
they paid up 343, ,320f. OF that amount. l79 207f
were employed in providing oxen, and the rest was
swallowed up in salaries and expenses; vet at a gen
eral meeting of shareholders held in 1855 it was an
nounced that the expenses were only 63, ,773f, and
that the profits 40 per cent. A dividend of not
more than per cent. was, however, declared
Notwithstanding this apparent prosperity at the
next general meeting held in 1856, it was announced
that deficit of no. GS9f existed; but nevertheless
the meeting made to vote discharge of all liza
biities to the gerants, and augmentation of the
capital to the extent of 10000, ,000f New gerants
were appointed, but the Company did not prosper
At length, in November, 1856, the Company was
obliged to dissolve ITSELF and then it was discovered
that gross frauds had been committed, money and
shares having been appropriated larger sums than
were paid having been charged in the accounts false
representations having been made to induce per-
sons to subscribe for shares, &c. On the whole ac-
cording to statement drawn up to the lst of Janu-
ary, deficit existed of not less than 1,563 ,G3Sf-
The tribunal, in Judgment of great length, con-
demned three of the accused, named Marie, Rever-
chon and Seghers, who took a leading part in the
fraud, but who have absconded, to five wears
imprisonment and 3 3,000f. fine each; another named
Marie Plot, to a years imprisonment and 500f fine:
two others, named Mercier and de Warouuier each
to two months Imprisonment, and the former to
lO0f., the latter to l,000f. fine; and one named
Guerin to 500 OF the other five accused, two, NM.
Butler and Lallitte, advertisement agents, who
were charged with some irregular transactions re-
spectng advertisements, acquitted; and iudg-
ment on three was postponed. Mercier in addition
to the condemnation on him, was ordered to pay
IA ,O00f damages to two persons who had been speci
ally injured by him.-Galignoni8 Messenger.
THE BROOKLYN NAVY YARD.
There 2,l00 workmen on the rolls at the
Brooklyn Navy Yard, and work is lively. The razee
Savannah is lying in the stream ready for sea- She
sails on Tuesday for Aspnwal and San Juan Her
officers are Captain Jarvis; Leutenants Worden
klncad, Carter, Erwin and Pelot; Purser Cahoone
Surgeon Mcclellan; Past Assistant Surgeon CaId-
well; Marine Lieutenant Hays; Mdshpman Mos
ley; Masters Mates, Harris, Bowers, -; Cap
tain's Clerk, Curtis; Boatswain, BIagdon; Carpen-
ter, Wiesner; Sailmaker, Rogers; Gunner, Moran
The Savannah has a crew Of 3l0 including 45 ma
rines. She mounts % guns on the gun deck, and
two ten-inch Paixhan pivot shell guns ON the spar
deck.
The frigate Sabine is being fitted out in a tho
rough manner. She was built in 1922, but was
launched only year or two ago. and has never
yet been in commission. She will be ready for sea
about the middle of August, and will probably be
sent to the Brazil station.
Orders were on Saturday received from the Navy
Department to commence the work at once on one
of the seven steamers authorized at the last session
of Congress, and her keel will be laid in the ship
house whence the Niagara launched, as soon as
the ST. Louis is off the ways. Herlength to be 200
feet, measurement 1000 tons, and draft of water
about l3 feet. The law limits the draft of all the
new steamers to IA feet She will be pierced for
four heavy guns, two ll-inch swivel guns and two
long 81 Founders. The work will be done under
the superintendent of the naval constructor.
The marines are now quartered near the GATE
They number about one hundred
The new reservoir building is rooted in and nearly
completed. The steam engine and pumps are on
the ground in working order. The supply of wa
ter will be ample-l20 gallons per minute-although
the well is only about 25 feet deep.-Ne,o York
Times.