Nebraska advertiser., 1860-01-12
Miscellaneous.
[FrOm the COrunn, (Nieh.) cOurieE.l
Operations OF a Banker In MiChi-
gan.


/ gan.
Many of our readers have heard ol
the absconding of Jan.es G. Wallace
who had been for some months past car
rying on a banking and lroking business
in this place. Many false ruInors are
afoat; the most extraya ant stories are
circulated and believed 3sd for sso rasi
few days no little excig40agnt has been
felt both here aud iIiEesroit as to b.
whereabouts, and the amount of his ILL.,
gotten gains.
All that is known of Wallace by our
citizens has been learned in their busi-
ness transactions with him; of his ante
Cedents even his most intimate friends In
Corunna know nothing. His first appear
ance in this place was on the 9th of May,
1859. He introduced himself to our cit
izens as James C. Wallace of New York,
and stated that he was looking up loca-
tion to get into the banking business, pro-
ducing testimonials as TO his character and
capacity, sighed by Bowen, Holmes &
Co., the well known silk and dry goods
men of New York. and endorsed by l..
A. Everett. Cashier of the Broadway
Bank and Dennison & Wykof, grocers,
Of New York. The well known respon-
sibility of these gentlemen, their high
commercial standing, together with Wal
lace's plausible manner and business like
method of proceeding, induced our mer-
chants to give him encouragement, and
he being pleased with the place, as he
said, determined to commence operations
at once. He purchased safe. hired an
office, and then went 10 Detroit to make
deposit and arrange business there, he
returned on tie 18th, and the business of
the Exchange Bank of James C.. Wal
lace" commenced.
By his straightforward dealings, his
promptitude and obliging disposition, he
soon gained the entire confidence of the
community here, as well as of the banks
of Detroit, as his operations there show.
His obligations were always met when
due, his notes were always honored, and
everything went along smooth and nice
until it was discovered that we had been
walking in the dark on a cake Of ice, to
the end of which we had come, and were
now laundering in the water. Wallace
had taken much interest in town improve
ments, was liberal with his time and mo-
ney, and really seemed valuable acqui-
sition to the place. There was, however,
some things about him that could not fail
TO attract the attention of those best ac-
quainted with him-his style of conversa-
ton to those who were intimate with him
was not in keeping with the position he
occupied in society-he was low and vul-
gar, and given TO obscenity. He had
too, at times, when excited, a nervous,
broken manner of expressing himself
fact which he evidently knew. an enlea-
vored to guard against His business
here consisted entirely Of a legitimate
exchange business; he loaned no money
and borrowed none, but contenlcd himself
with changing money, and buying and
selling drafts and exchange. Several
times he has gone TO Detroit and other
places, to be gone for few days, during
which time he would close his office.
About the lst of October he went to
New York, and was gone some ten or
twelve days; when he returned he gave |
out(that he had made arrangements to
admit partner, a man by the name Of
Thomas r. johnson, who, he said, was
to invest $4,000 in the business, and no
tice to that effect was published then in
our columns. The partnership was TO
have commenced on the 10th of the pres
ent month. On Tuesday, of last week,
for the purpose of meeting his partner,
and rectifying a mistake he had disrov-
cred in his account with one of the De-
Lroit banks, as he said, he went TO De-
troit carrying with him a small hand
trunk; he was to have been back on
Thursday, but did not come. No unea-
siness, however, was felt by our citizens,
rs it was supposed he was waiting for
Johnson; Tor was the least suspicion en-
until Saturday last, when one
Of the firm of G.. & A. Ives came to Co.
runna, and attached the safe and furni-
lure in his office. Many then thought
here must be some mistake, and it was
not until it was discovered that he had
aken with him all his clothes that it was
generally believed that he had absconded
many were even 10th then to be con-
rinced
Wallace's operations here were not
arge-S1 800. at the outside. 1t is in
Detroit that he has made his largest haul
-he even waited on some of bis custo-
ners here, to see if they did not want
heir deposits. and actually refused to
axe money offered him on the morning
If his departure. Meeting one of our
in Detroit, he offered to let
lim have some money, but Of another be {
borrowed 500. Z
In Detroit he waited upon D. Preston !
I Co., G. s. A. Ives, A. H. Dey, the S.
Bank of Michigan, and the Farmers & {
Mechanics Bank, all of whom he has
windled to some extent-the probable I
ggregate of which will be from ten to c
welve thousand dollars. He had with
i'm number of sight drafts on the Peo- '
les Bank of New York. and purporting
D have been drawn by Banking firm N e
illinois.
These he disposed of to the gentlemen t
re have named, receiving in exchange
urrency and Western bills. He finished a
is transactions on Thursday. since which c
me he has not been seen, It seens that il