The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-02-27

that Sill Meugens should draw on them for the amount
REQUIRED dscountng bill at their own bank Inc mana
gers of the bank lodge the amount WIN 1ynnsO
be handed to Cole Brothers against warrants TINS orange
mep was agreed after inquiry at the lverpoo norougn
Bank and Sin and Meugens upon Cole Brothers, at
three months date for f25 0oo the sum wecn nad eeen
advanced And now inc aay OF sSrouHS he
IN success of operations in metals, and the heavy
expenditure the West Ham Dstery, had become IRE.
trievaby involved, created some sensauon ana THIS
being followed by the ntimaton that they mad suddenly
ecanped created further rumors exceedingly preJudcA
10 themselves and the whole of their associates Through
this the first breakdown OF the conspiracy The suspen
sion n Messrs Davidson and Gordon their connexion
with Cole Brothers. or, rather Joseph wnde Coie ana
tive of an unsatisfactory influence, and Mr. Cole was ut
length himself obliged to commit irregularities In meeting
tanned of the stories respecting the heavy COM
pliciy OF Joseph Windle Cole in fraud and the
was no longer to found at the wharf He had deserted
his post, with all its emoluments and all its dangers
Messenger after messenger came down to sec after the
position of warrants In the hands OF impatient holders
There the manager OF the Liverpool Borough Bank
still waverng whether he should give up this secu
thousand boxes Of sugar Merchants and clerks, soil.
c.ors and bankers messengers looked n from time 10
time to learn tho interesting news that Matoy was IN
The country, and, when they became mporunate were
reorrs1 to his private SOLICITOR who had engaged 70 make
all necessary arrangements Thus whist tue holders OF
he fictitious warrants alternating between hope ana
ear coming In close and heated rooms the nys
'ery which, for all that appeared on the face OF IT, Maoy
porant parsonage refreshing himself his watch
iul and i'll compensated labors, with Continental
tour, making Belgium the great centre OF ms temporary
wanderings. As the news reached Liverpool
that the bills of Cole Brothers had been dshonored,
and that the house involved in difficulties, Mr.: STU
and the managers Of the Liverpool Borough Bauk look
measures inquire into the property represented by the
warrants. The latter party received from their solicitor
the sage advice TO realzs once evidently from the ina
preston that as sufficient metal to provide
for all the warrants the recovery OF goocs represented
by them was to be determined by priority of claim All
cs..h. otc,tfat mar n-thn
gems wharf part Of the bank simply badgered
SILL who went up to London on this business, had TO con-
himself with attending at the oice oil Cole severa
days the Intellectual endeavor TO see that individual
eanwhile obtaining materials for most amusing &C
count which he afterwards to the manager OF the
Liverpool Borough Bank, who, the 4th OF July, fol-
lowed him TO town II explained by Sill how the clerk
had not cared 10 mt odnce HIM; now Joseph Wnae Co'e
had cared to him; how the brother of Cole had
informed him that Cole Brothers would ''go again,
and how he Sl should be easy abont the warrants rs
there was enough metal to meet them and his brother
o. W. Cole) ID honorable man. Previous to leaving
Liverpool the manager Of the Liverpool Borough Bank had
received an Cole give cargo of sugar in
change for the warrants upon which he tesgraphed to
the solicitor not to enter into compromise until he
had arrived Now came up the question Of acceptance
II urged that there many unpleasant rumors 10
connection with Mabys name, and that though there
doubt the warrants were good was best to make
the exchange. With evident reucance-for it was sur
missed by manager that the warrants might possibly
prove larger valuethe VIII ole released for bill
of adng for 1900 boxes of sugar Of the estimated value
OF fS goo.
THE CHIEF OF swNDLERs.
Thus died, by bis own hand, at the early age Of
foriy.two. John Sader. of the greatest, If the
greatest and at the same time the mos. successful
swinder that this any other country has produced.
That he was a man of high talents few knew him
personally doubt and had he been content to apply
those talents 10 honest courses the brilliant opportunities
which opened for their exercise would have enabled HIM
to attain the highest position in the State But his mps
tuosy would not brook the labor, and the toll, and the
delay OF gratifying his ambition in legitimate manner
BE sought the abort road TO fortune and, like all who
have eied that dclusive path mseraby failed The
amount of misery which he caused Is almost iDcaculabe
In the Tpperary Bank numbers Of his poorer fellow coun
ymen had been induced by specous representations Of
prosperity and false accounts, TO embark their all Not
three weeks before his death he had in conjunction with
his brother James issued report and balance sheet re-
presenting the bank to be in the most ourshing cond
ton, and declaring dividend Of six per cent with an al
dona bonus Of three cent Upon the faith OF these
periodical statements numbers Of farmers, tradesmen
halfpay officers, and others in similar condition. became
Shareholders and were in consequence utterly ruined
From this establishment alone John Sadcr had, with
the connvance of his brother coutrive to abstract
f2O0 goo ; and the total defaications Of the bank
As chairman Of the Royal Swedish Railway Com.
papy he issued false shares to the nominal extent Of
ESQ oto, the whole Of which be appropriated What
be obtained from other will probably be
accurately ascertaned but the aggregate must be some
| thing enormous.
Mr.. HuDsON's POWER OF MENTAL CALCULATIONS.
Mr.. Hudson's capacity for calculation, which enabled
him carry his hand the items constituting the aggre
gate Of the vast amounts in which he dealt added TO the
desire to have recorded merely the results OF his tranac
tons led him not only TO suspend entries until certain
had been achieved but really 10 undervaue the
importance OF any formal method. When he had sue
ceeded the Guardianship of the North Midland he was
reported have scoed at the systematic manner in which
the accounts were kept, proceeding which afterwards
rise TO the following satirica remarks IN public
journal Good accounts are troublesome things keep
and occasionally cauee trouble 10 the parties whose
they registers. The true chanders shop system Is
TO keep no books at all. cross for half penny, a
down stroke for "a penny, little o for sixpence, aud
larger for shilling, all in chalk, on board or cup
board door constitute the accounts Of many money get
ting shopkeeper, and, doubt not would suit wei the
purposes of some OF the railways Chalk easily rubbed
out and put on again; ink is permanent nuisance. One
great company isrepoed at one time 70 nave usea pencils
their figures in preference to ink, which, presume,
must have been for the sake Of convenience To do Mr.
Hudson justice however IL must be stated that vouchers
appear have been kept Of all the transactions and
though the entries not in the order which they
arose, afforded to those who searched The
books OF checking balance OF the debit credit Of
current accounts and thus to discover ho~ the
counts he'd been tempered with IN order strike balances
pondjng 10 half yearly statements inquest iona oily
the most rigid accuracy entries ma lie credit
debit OF parties or heads of accoint essential for
the protection of the company aud no full apology be
for his negligence ball ucng cash for rreguari.
ties dates, names and heads Of account His
word allowed to guarantee everything. All was as
sumed TO be properly done that had passed through his
hands.
THE RAILWAY MONARCH.
TWAS nc wonder that the spirit of railway enterprise,
kndpg, after her rsi great point after point
throughout the kingdom touching with Ger magic
| wand the city Of York, should have found men ready
and willing TO euer.sn .he prot Of securing for that
locality the advantages resulting from this means OF tran
sit. OF This number Mr. George Hudson. who at the
time simply member of the Board Of Health, With
no other position IMAM ina, derived IRON NE 0. con
inued assiduty, and who ss linen draper had secured
moderate fortune his family beng respectable and well
established In the County having occupied for at eas two
centuries at Howshan. Mr. idspn ha reached
mature but be was 70 hmsef the man f., the
occasion, and was destined 10 operate with no in
| considerable influence, both in giving stability 10
those enterprises about beng called into exist.
encc, and in makiog the most OF the powers which
Parliament, public coDfdcD-e, enthusiasm creiuty,
any OF the thousand and conf citing motives which
TO support the movement 1t felt that the city
Of York true 70 her interests bcstir bersei
4 I'm matt ttu.u f,t, ~,
/ West Riding appeared he the obvious mode oi
securing these facilities Hudson had looked 10 the his
tory, financial and o.herwise of the railways then in
, exist forming and was satisfied, from the frs;
conception Of the idea tina, railway running out in that
direction, If planned with judgment, economically coz
structed, and efficiently managed, could not fail sue
coed. The complex character Of railway management
compared with any other enterprise, only served
additional motive with him TO entertain the project
he favorably situated too, for securing public
attention In the municipal post TO which he had hecf
nominated, be had shown TO his fellow townsmcn bis