The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-07-21
THE FAMOUS MIRES CASE.
Operations or tho 0rest French.ltaltan-
Turkfsh-Austrian Banker.-The Charges
and the Evtdcnce-Frcnch Corruption
Exposed, Sc, Sc.

Turkfsh-Austrian Banksr.-Ths Charge
and the Evidcnce-Frcnch Conception
Exposed, &c., Sc.
The HERALD complies from the Paris journals the folio W.
ing report OF the famous Mires cage
The trial Of Mres and Solar the latter being absent by
default on the charges Of swndng embezzement, and
dstrloutng ncttons dividends, commenced June Is De
fore the Tribunal OF Corrcctone Police. Mres brought
with him into court number OF account books. The
members OF the Council OF Surveillance Of
des Cheins dc II is KNOWN cited responf ble
for the distribution Of the fictitious dividends and two OF
them Baron Pontalba and de Chassepot appear
ed the other two Count Simeon and Count dc Poret be-
| Ing represented by an avouo
report setting forth the various operations in which
Mres and Solar have been engaged was read The follow
ing the principal points IN tin 1858 they formed
company commain'ie, called Socotc DIES laisse ct
pany) with capital OF IL 900 00o and in 1866 they
creased the capital TO DO 900 000 represented by 100 900
de Fer The object Of the company to purchase
and sell shares and other securities, and to make nd
yances ON deposit Of such things but was by s sta
tues specially nerdicted from making time bargains on
the Bourse In spite, however Of this introduction Mres
and Solar from the very beginning embarked ip such
operations which took alarming proportions and
| the last four years, for example, tho said ile-
simai .so o cpsra.Sns exceeded the enormous sum
] tho report, twas often followed by disasters.
Thus, the invertory Of 1859 shows that 6,7732l3f
lost Ia Expectations the French rene, 126 244
for combinations cpor) on the rene 100 1891 for con-
tnuaons for railways and ol7b for the payment Of
double coupons ON the other hand the inventory set
was not rezed Of pretended agreement with NJ dc Sa
aranca relative TO the saragosea and Pampeuna Rail
way The report then proceeded to state IN detail the
principal facts discovered against the two accused
l. Operations on the Bourseln May, 1862 n Mires set
down TO the account Of the company loss of 200 000
which he had personally sustained the Bourse, but he
subsequently had the false entry corrected. O. Swnd
lngWhcn the war in Italy broke out Mres and Solar
had recourse 70 measure OF extraordinary audacity
They sent circulars 10 great number OF their custo
mers, saying that in consequence OF the situation of
affairs they had sold at the BOurse the securities
which those had deposited with them and begged
to be authorized TO buy others 70 replace them But the
sales were effected at higher prices than the purchases
and for some Of tho customers purchases at all
made The result Of these operations that large pro-
dts realized Of which Mres took 521 275t and set
down 2,007 $685. to the company. g. Ennbe zzement-
Ont Of the securities deposited With them Mres
lar took II 900 shares and sold them the Boursc That
operation realized $40 645 for Mres and 97Of 10
Solar The two subsequently bought back shares
TO replace those sold but bad not completely replaced
them One consequence Of this operat ION that they
had to pay coupons o the shares twice over rst to the
who had bought them next to those who had de-
posted them A. Ports OF Marseiles this company
Ares improperly sold $500 shares and Solar 400 But
| they replaced them by others bought at lower
| price. Nires thus realized lbs ,SOOf. and Solar
400 francs Various shares and Securities Depo
sits OF such things made in the Casse Generate des
Chen.ns de Fer by different pereons and the Casse
charged 70 receive the dividends and interest them
but Mres and Solar raudulently sold considerable
Der. 9. Mines de Portes ct Senechns -Mres bought
these mines for 0C0 francs for the Casse Gepere
and opened subscription for shares representing much
larger amount. The subscription did not succeed and
yet IN 1856 1t was set down having produced profit
Of 657 ACC francs On that act however, il too
bate to prosecute Z Company Of the Gas works Of Mar
seillosThe capital fixed at 1890 600 Francs
twenty four thousand shares The subscriptions for the
but instead Of returning the whole Of that Mes and
Solar appropriated 3,5o5 200 francs Of it, Three
years, however, having elapsed since that was
cution g. Ports OF Marseiles --Mires bought from
the municipality Of Marseles 400 900 metres Of ground
them rom him He issued ID shares and resevea Is
600 francs in calls. But Of that sum nc appropriated
Zoo Goo france That act y also covered BY
managed to appropriate t22b 800 francs but that
was afterwards restored. 3. saragossa TO Pampeuna
CURED would be 500 600 france and Nres resoy ed to
rase Of 40 600 600 francs But he entered into
tract with Saalnanca by which tho latter undertook
construct the ralwaycr such price that not than
20 600 francs were required Nevertheless Mres and
Solar raised the whole 40 600 france and appropriated
the greater part Of the difference Nor this all they
thereby raised ass 900 francs they also appro
priated paid up bonds Of the same railway which had
been deposited with them 10. Ottoman Loan.The sub
scrption for this losn produced 23l 54Sf and the
commission Of Mires on Il was ls4tcSlsf But in this
titious Diydends.ln 1866 dividend Of 74f 40c. was
given TO the shareholders OF the Casse Generate des Che
26f each; bat was really acquired. In these in
ventores Mres and Solar counted securities Of much
debts as good In isSSshey entered sum Of SIS ooo
as profit from the Roman railways, though the execution
counted as profit though not realized and no account was
taken of loss Of OFF on the Bourse In 1883 nothing
was said Of loss on the Borse Of 1851 1921 In
| 1859 there a real deficit, but profit WAS
made appear by counting ,151 1907 from the Palnpe
luna Railway, though the line was not commenced In
1850 the inventory altogether false, and there was
Large deficit IL Sums taken by Mires and SolarThey
took from the bank different occasions various sums
their simple acknowledgment, but these acts, though r
regular do not constitute fraud.
The President addressing Mres, briefly stated the pre-.
else accusations against him, and recommended him TO
about TO be made by the witnesses reseryng fuller expa
nations for n later period.
NJ Mires--I beg TO make remark which IT, that in
all the facts alleged there is not one in which am per-
| sonaly interested
~ Monginot, an accountants was then sworn and tes-
tilted his examination Of the accounts OF the accused
Mres frequently interrupted him with protests and
explanations, and declared that his testimony was unn
tegbe; that he had examined the accounts as II they
those Of grocer instead Of banker and that dis
cussions must take place on every fact alleged
N. Vanhembeck, another accountant, conHrmed ~
| Nonginot's evidence.
Barbet Devsux stated that in 1856 he entered the
service Of Mircs Co. as an accountant and in April
1852 he perceived that great part OF the securities de-
posted had been sold He represented to b. Mres that
such operation appeared to him very irregular, but
Mres answered that he considered il perfectly simple
that his eyes the securities vertable bank notes
and that he had the right 70 sell them at the most avora
bic moment Mres declared that he had consulted
an advocate the subject who Of the opinion
Mres had wanted him (wness to take part in the sale,
but he had declined Some Of the persons whose seoui
they had been UNIDENTIFIED but delay took place with
gard those who complained by letter The witness ad
ded that in 1860 Miles and Solar had, in addition gold
| $3.50 shares Of the Caisse Generate.
NJ Mires--On that point wish to make OBJ orvation
and beg that may be remembered When the sales last
referred TO commenced the Caisse owed Of
2523 900 francs and another Of 800 600 fra,lcsn all
more than 5000 600 francs That greatly changes the
ma tier.
NJ BarbetDevaux in continuation, said that Solar had
complained Of some Of the operations Of Mree Thus
that person alleged that when purchase OF rcnte
made at the Bourse for the Casec, Mrcs used to say
nothing about il until rise took place, and then he
sisted that the operation had been for him per
sonally, and that he alone entitled 10 the increase
Solar stated witness that he had positive proof
Mires acted in this way, but ne Ind doubt OF it.
Having subsequently examined Mircs' private account
Solar became convinced that his suspicion right and
declared that he would have Mres turned out Of his
post as gcrent Of the company.
IT. Mircs observed that he could not listen with any
ting like patience to such accusation, and he
to affirm that Solar hostile TO him because he had
commended that that PERSONS connection with the com
pany should cease in consequence OF his having published
in the Pres OF which he editor, article OF such
character that tie journal bad been warned by the gov
eminent
june % after explanation by Mires, interrupted by
the President OF the court NJ Malar, formerly in the
service Of Mires as corresponding clerk stated that lie
knew that his employer expecting fall the Bouse