The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-24

ole al the same time sarres.ed taa :" M.
-apman would give him go =, he o. ~, ~ a %S
eans to replace the other $40 tons " r. az the wharf
time for delivery IN pan NO, 10 ex s ,na w o
% hh 1nis confessed had commit ID il the latter
oud manage TO conceal II IRON ,, ro 81 Of the World
aa ~ peen ss in this particular Transaction Overend
- G.v would no doubt have at once handed
W. ,, he man who had the ampudence to ask that
nc ponce no, ~. do anything disho,nrable
I he exposure Of Cole and ais accompces would ne
aby lead their bankruptcy, and the great city house
a lose by that event sum not much under GOO 00O
|" although Mr.. Chapman, at an interview with Gordon
October II, shocked to hear that gentleman can
idy own he chad shipped the copper represented by
srtain warrants, he determined that his wses course
would be hold his tongue lest the fall Of these reckless
cnators should shake even the credit Of the eminent
~ on which thew leaned As he saws in one of his let
ers the magnitude of the frand took II out OF all ordi
ary course OF proceeding and compelled US 70 have con
liberation for our own position with the public" Thus
oly does the great city merchant, whose reputation
tod high as that of any man In England take II for
ranted that when the stake is larger than usual u per-
ned him disregard the customary distinctions between
light and wrong Bitterly doubt does Mr. Chapman now
epent the cowardce that made him the holder OF so dscre
He thought he could not afford TO be honest
this matter and he let Cole compound for his felony
were by delivering the 800 tons Of speter at els ton,
md he told Gordon to join with him in hushng up the
fair that II might not go forth TO the public And
shat has been the result Of all this map9uvrng to main
ain intact the reputation OF Overend and Gurneyp For
light months longer after the discovery of the fraud the
,ankrups continued keep their heads above water and
o plumber all around them, supported by their presumed
fairly claim the poor consolation he says
re finds the reflection 'sthat has appeared OF
oss by any new advance on Hagan's warrants since
october, 1853 for the Commissioner mentions at least
rye case in which Gordon borrowed money fictitious
warrants from Mr.. Vaughan, after the date men,
| toned by Mr.. Chapman. In june 1854, Davidson and
iordon absconded, and from that time to this the law
;ourts have been occupied unravellng all the comp
ations of their affairs, till at last when the end OF this
ad business was nearly reached the secret whish Mr.
Chapman rsked much to preserve was wrenched from
0hsn with every possible circumstance OF Nomination Ia
Imam ennrf ha hach aa hal
one who. while connivng at felony had the mean
10 take advantage of the position OF the man who
lad committed the fraud to screw out OF him large sum
# money, and who, by this conduct has placed blot
IN his escutcheon which no time can remove" We'll is il
or the country when the 8 stem OF publicity winch we
echoes it a warning Of what those may expect, how
eminent for wealth and station who stray never
title from the strict path Of honor.
The excitement caused by revelations that affected the
baracter Of great a Mr. Chapman has been of
ONE benefit to the wretcbed bankrups. People cared
Jnly know what would become Of the great wether
and were almost inclined to pity, rather than invoke
uFther punishment upon such poor little creatures as
}rdon and Davidson. But all this generosity is very
much misplaced We may even doubt whether the Com
missioner justified in granting the bankrupts pro-
ectlon from tender regard Tor the intense sniermgs
which two young men, 30 extremely well connected,
must have endured through their three years impr-
onment But at any rate the refusal OF certificates 10
uch men was quite unavoidable, unless the Court Of
Bankruptcy to be regarded merely as place for white
washing rogues and setting them on their feet again. rob
heir neghbors with impunty. Men who, having already
allied begin business again with capital Of f5O0O rush
specuatons wildly that in the fifth year alter their
second start their operations amount TO II year
the sixth year abscond 10 the Continent with what
money they lay hands upon to escape their CREDITORS
not at any time proper subjects for sympathy and
The best thing that be done for such per
sons s to keep them from commencing trade again.
ltut it is now proved that Davidson and Gordon
borrowed money throughout their career on war
rants they knew to be fictitious. "Coe, David
and Gordon" says the Commissioner, "were through
acting in concert nobody who has read these papers
with the attention have doubt it," Against Gordon
particular, the is cear for his own advocate
Confessed that il Mr. Chapman told the truth about
fthe interview of October IT, his client had claim
| to certificate Mr.. Chapman's evidence this
point s confirmed by that Of Mr. Bots, his clerk; and
If if doubt its truth. it is in the highest
degree improbable that such the bankrupts init
matey connected they with Cole in business,
could be unaware Of the real of the warrants in
which they dealt freely If we acqut them of knavery
their simplicity be such that for their own protec
ton they ought to be debarred from ever again engaging
in any kind Of business.