Delaware inquirer. (Wilmington, Del.) 1859-18??, 1859-09-24
A GIGANTIC swINpLE IN SCOTLAND.

A GIGANTIC swINDLE IN SCOTLAND.
The Scotch papers have an account of the
fnanceering operations in Scotland, which
equals anything outside of that country in
rascality and deception
| In 1773 there was established at Carron, a
Company for the production of iron from the
ore, and its manufacture into different articles.
They not only made CRATES, stoves, and other
| articles of domestic use, but also implements
| of war. The original capital was only EDO,
600, raised by shares of ESQ. As evidence
of the prosperity of the Company, it is said
| that 200 in 1S47 was not an adequate price
for a share. By some management the con-
troll ofthe Company was kept in the Dawson
| family until the year 1850. 1t is now alleged
that this family took such good care of their
| own interests as to neglect that Of tho Com
pany. 1t is claimed by the prosecution that
| they "cooked" the accOunts--that they put
the affairs of Company in Il false light. They
! so managed the balance sheets rs to make the
| results bad when it was in reality good, their
| object being to get as much stock as possible
| in their own hands. 1t is said that since 1873
the accounts of the Company have never been
properly examined-that the profits have been
systematically understated, and everything
done to make the stockholders believe that
| the business was not fourishing. The Daw-
sons so managed this that between 1929 and
1888, the annual amount of profits retained
| from the stockholders was f17,00 The con-
| sequence was, that the shares of the Carron
| Company went down instead of up, and the
Dawsons always contrived that some member
| of their family should purchase the shares
offered for sale. Unlike other swindlers, they
| did not wish to represent their company as
| successful when it was not so, hut they wish
| ed to conceal its ilourishing condition. Well,
| things went on pretty smoothly, tho share
holders now and then asking for accounts,
4 until finally dissension took place in the
Dawson family. The consequence of this was,
that after the death of Mr.. Joseph Dawson, in
! 1850, the sum of f3l6,000 was accounted for
to the Company by the other members of the
| family.
| The allegations against the Dawsons are
made in a suit against the Company brought
| by a shareholder, who, in the year 1857, sold
20 shares at the rate of f700 per share, and
which were bought by the Dawsons. BelieV-
ing, from the developments mrde since the
| sale, that he was induced to sell his shares
upon the misstatements of the officers of the
| Company, the shareholder wishes the sale an
nulled, and to be replaced in his original posi-
| ton. The whole affair is unprecedented, and
whatever may be the issue, it would appear
| that for long term of years, the shareholders
were ignorant Of the financial position of the
Company. The moral likely to be drawn
from the proceedings of the Dswsons is one
similar to that drawn from the Schuyler case
THE VICTIM OF IMPosSIBILITIEs.
Napoleon III. is the victim of impossible
| ties, if we may believe his own statements at
| this moment and such we believe he is real
| ly and ever has been since he assembled the
throne of the French Empire, because he un-
I dertakes impossiblities. lie gave his Royal
| Cousin the Emperor Francis Joseph, his word
| at Villafranca to use his best endeavors to re-
place the expelled Princes of Italy on their
thrones in conjunction with Austria. He no
doubt thought this would be very easy mat
ter. He could and did snap his fingers at all
idea of Sandman interference in such cause
and he intended ''loyally' to keep his word
with the Emperor Of Austria place French
troops at all important points, and carry out
the Presidency of the Pope nominally, with
| the real power divided between Austria and
| Sardinia. In all their quarrels France would
| be the natural arbitrator, and, therefore, SUI
preme judge.
| This was the plan sincerely entered into,
but expressed in writing in State paper phrase
! as simply using his best endeavors, in con
nection with the Emperor of Austria, to re -es-
tablish the Princes. The Emperor of Austria
/ thinks Napoleon is playing him false, because
| Napoleon only Loyalty used all his influence
and not his arms. Diplomatic arts to per-
suade the people are freely and openly resort
| ed to, but, at the same time, when it comes
| to the real point, he fatty tells them that his
army shall not force the Princes back on
| them, and that neither shall that of Austria
| Napoleon has 'loyallyn kept to the letter of
the treaty, but it is, he says, impossible for
him to go further and impose Princes by force
of arms upon an unwilling people. So it is,
| but the question is did he not undertake il ?
1t is now clear that he will simply stand still
and give his advice, but let the people do as
they like in Italy. They have an army of
forty thousand men led by a glorious and
| true-h hearted old republican who would as
| soon let Napoleon smell his gunpowder as
not, and little sooner This will be in effect
sort of Italian Republic, under the moral
support of Sardinia, but not legally and out
wardly perhaps attached to its throne, owing
| to the iealousies Of Austria.
| Napoleon has all his public life been tho APP
parent victim of these impossibilitieS. He has
seemed to be insincere because he has at
I tempted too much. He has great powers to
serve his friends and injura his enemies, and
please all. But he cannot make black white.
! He cannot serve liberty and despotism at the
| same time, and no cannot keep his word when
given in two opposite ways at once. As a Re
publican, he swore to uphold liberty. The
| leaders were suspicious of him; liberty was
impossible, and he became an Emperor, and
pretty absolute one. He entered into an al
| lance with England against Russia-neither
was to make peace without the other. But
| it was impossible to make peace OH English
terms, and so he gave England to understand
| that peace was necessity with France, and
he made peace at which England grumbled
| terribly. Then he promised Italy liberty to
the Adriatic. But it was impossible to go Oh
without awakening the hostility Of other ma
| tons than he had intended, and so he made
| the peace of Vilafranca. Now the intent and
| endeavors of that peace are impossible, and he
cannot go further. In each and all of these
cases it will be observed he goes far and does
more than most would do who did not keep
their word. But he makes those for whom
he does most his worst enemies, because he
has promised to do so much more. The fact
| is he promises too profuseiy. He has governed
France ably, well, and prosperously. He
went quite far enough with Russia. He has
done much, very much, for Italy in advancing
| liberty. He has given the King of Sicily
kingdom which he has received most ungra-
ciously, and, like usurous creditor would
receive q dividend of fifty cents in the dollar
m, a franea ntion in which ba n nd ,nada tuyS ~,