Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1859-07-14

and financiallya bankrupt. A gentleman
In this town nov holds his notes for about
seventeen hundred dollars. upon which he
10 not able to collect . red cent. II be hiss
no mortgage on his property, it is not be
cause he has no debts, but because he has
no property to mortgage. Any attorney
who can succeel in finding any property in
which Add. Sa ders has any interest, legal
or equitable, may earn . handsome fee by
undertaking the collection Of the notes vs
speak Of This is the pecuniary condition
Of our defamer. As we said before, We
have never desired to drag the financial
rottenness of any one into the glare Of
open day, and we only do it in self 6e.ence.
To Add. Sanders, aud all similarly in
cliued. we have only to cay: You Who
live in glaes houses must not throw stones =
Evnasvillo Journal -AAA SanAesss cid Pa.
Des.-1ts ~ sect EAisoss opinion Of Add
~. Asnaess. ~ hat I'D 10 thought 81
whore he is known.- Statement Of Z. Y !.
Casitsis.
On the 2lst of August, Mr.. Sanders made
me an offer by letter Of his establishment.
in which he professed to explain fully its
business and condition.-In that letter he
asserted without qualities 1t was the
be st office in the State, and in dollars and
cents, its monthly nett income. showing an
annual profit realized in cash, from 81, ,75O
to s., 800 On the 9Th Of August replied
to this letter, sayi g. that on bis repreeen-
tation of the concern. would give him .
stated sum for it. On the 3Olh of August
he replied, accepting my offer, and asserting
in these distinct terms my representations
of the office were correct" This virtually
closed the trade l came here on the 9Th
or 9th Of September. and was engaged for
| three or four days in other matters, during
which time was occasionally il the Office
On the 18th it WAS transferred to me. A
day or two before the transfer he made out
in his own figures q sta statement-which any
one may see-by which he made it appear
from the nett monthly profits realized in
cash-the annual income of the Office had
been $2,724 With these documents in his
own hand writing in my possession, be has
the hardhood to say he made no represen.
tations to me in regard to the buei-
ness OF the office. do not know what &C.
quaintances here have formerly thought OF
him. but do know the estimate they ought
hereafter to place upon his word
He further says, "Mr. G. spent several
weeks in most scrutinizing investigation
of the affairs and materials of the Office, and
he had free access to the books" With the
value and condition of the material was
unacquainted. Iarrlved here on the 8 b
or 9Th, and the office was transferred over
on the 18th. was in the office but few
hours each day. and did not examine q
single book or account, for the reason, that
| cav at glance that they were kept by
no known system or any kind Of order
There were no general or impersonal &C.
counts-no means ofverifying them-they
afforded no light upon the results Of the
business-more than would scraps of paper
except perhaps to himself The examina-
ton of such books was useless A man who
would make false statement, knew could
easily make such books correspond with it.
The personal honor of the vendor was the
only reliance any one could have with or
without his books. On his word and nv
observations OF business, with which was
| COmDCiIcO W rely IOI NY VoSmotC VI vic VI
fee 1t was in the excitement of the Presi
Dental canvass. and appearances were delu
sive, and was deceived.
To confirm his statement, he said beside
living freely, he had in the course of five OF
elk years purchased farm worth $4,000
and paid for his office from it's profits. He
had bossted in his columns-in his contro
versies1 with the Enquirer,-of his owner
| A~l L. :-lA
his departure that he had not paid for his
Office previous to my purchase, nor had ht
paid the first copper or the land. He had
for FIVE years realized the rents, and left biz
vendor to pay even the taxes to save it from
the collectors sale. 1t was soon made man
ifest to me, that he had realized with the
strictest economy scarcely enough for de
cent support. This was after ards testif ed
to bv Mr.. Kenyon and others who had the
management Of the Office.
To avoid the conviction-of defraudine
his creditors for five years, by consuming al
annual income of $1,000 and paying none o.
his honorable debts-which his writer
statement to me would conclusiveiy fix up
on him-he now says the office never made
anything till year before his sale of it
when in suddenly sprung into most remark
able prosperity. Unfor. .unately for his yer
acity. in stating the business for several
months previous to my purchase, he eays
in his letter to me, that "these months have
been unnsuallydull monthsi in advertising and
job work" the only sources Of profit. Ia the
same letter he says year previous he had
been offered $1,000 more for his Office thar
he ash ed me, but its profits were 90 rmeu
perative he would not listen to the offer
He now asserts previous to 1856 it made
nothing. He wrote to me in August 1856
that ak months of that year had been un
usually dull, consequently when he wa:
showing to me profit of $4,000 year, he
could not have been making his expenses
He stands by these collated statement.
selfconvicted, in full. OF the fraud, to the
full extent he has been charged. and o
which he confesses if he we're guilty, i,
ought to destroy his character With honor
able men. present his case as he hes
made out in his own statements, withou,
any assertion of my own.
He says that by inef1iciency and editorial
mismanagement, he finds the business Of
the Office has fallen off one-half from it,
support when he owned it. have the
gentleman's letter to me saying that the
Journal had been 60 much improved under
my care - to mortify him with his own
management of it; it had eclipsed its for
mer reputation; and he feared the people
would not regret the change nor miss biz
abilities.
10 spother letter. six or eight months
after the paper had passed into my control
he ssys II suppose ali your mi.givingt
"about not being able to fill nv place are
II The 0iti1ona IF Eyn
heartily congratulate Asms,lsss on the
change. am not the writer was eight
"or ten years ago. l can see and feel it.
"even If had no friends to frankly tell ne
80. And he goes on to describe the cause
and the nature of the mental imbecility that
had grown upon him. Of which his card is
30 sad proof to his friends of its further
progress
To return to the offensive subject. Mr.. s.,
says attempted to defraud him Of q safe.
i = Nv.IWy a. Al l-AA L.