The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1865-08-25

Mr. lowering, the President of the bank
Of New York, for the opening Of GOLD
account, 10 the name of Charles Graham,
received the check book, paid his 81 900
and went off Continuing his daily oper-
atoms, and needing money for margins
with which to carry gold. be has from time
to time deposited With Charles Graham &
Co. gold checks, drawn apparently. BY
well known houses on the street, which
checks were to be held as security. not
presented at bank, and, of course. not de-
tec,ed as fraudulent. These forgerles were
employed, as far as We are advised, only
as margins to money loans made upon
genuine gold checks. Thus, on a million
Of dollars Of gold represented by genuine
checks, and $250,00 represented by forg
ed checks, say abou. s2,450000 in cur
rency would be borrowed, being the mar
ket cost Of the genuine million dollars.
And in like proportion with other loans,
the forgeries representing merely the mar
gins between the amount which should
have been advanced on the genuine checks
and the market cost Of the gold. The
etipOidsicu Will VIC IHoHey icuuoIo as IL
all cases tina: none of the checks should
be put in circulation or in any way used,
except in default Of the payment of the
loan, after notice.
NORRIS KETcHUM, THE FATHER OF THE BAD
SON.
OF course now that be is down, all tho
people will veil their faces and shout aloud:
We kn-w it would be So" We found
Mr.. ketchum at his Office, in compan.
with a number Of friends. lie is a short,
stout man, with silvery hair, a quick, keen
eye. thin lips. and what would be termed
smart" face He said be had no de-
sire at presen. to make any formal public
statement although he nigh! conclude TO
do so. Said he: "My son Edward has
committed great crime. He has taken
from me between
TWO AND THREE MILLIONS
in securities--the assets of the house.
besides, fear, doing other wrongs OF
great magnitude in connection with the
golo checks. The house can not 20 on, OF
course. stopped payment this morning,
partially that might understand GU. con
dition and know exactly where we stand;
but | don't see how We can 20 Oh. Our
remittances this morning were very heavy,
aud were all deposited 10 the credit of our
customers. l have no idea where my son
is gone. What could have tempted him
to do this thing | can not say. lie had
everything which could make his life
pleasant; and his position here was pecu-
niarly such rs must have satisfied him.
lie was at my house on Sunday night,
since when l have not seen him"
GRAHAM, THE vIcTlMIzED BROKER,
who, by the rascallty Of bis customer and
the faithlessness Of his friend has been
brought to the verge Of ruin, compelled to
break up his business and acknowledge
himself unable to pay his liabilities. Mr.
Graham is spoken of by all parties as a
man Of irreproachab:e character AS a
broker he has for thirty years Sustained
an anblemished reputation, and this los,
coming as it does upon his maturer life
is relieved Of his crushing sorrow only by
the kind expressions OF regard and esteem
which greet him a: every hand.
Through Mr.. Graham, Edward Ketchum
transacted bis business, although it is due
to Mr. Graham to state that these checks
seem to have been used mainly during bis
absence while the junior partner was in
charge, a partner who has evinced his en-.
tire innocence in the matter by taking in
on Monday 1886. 5000 of these forged
checks. From Mr.. Graham, who natural
ly was adverse to saying much, We gathe,
ed the following,
81 was Mr.. Ketchum's broker He
was q very heavy operator; some time
ago he made great deal Of money, but
lately be lost. When | was home, / fre>
queDtly checked by my advice, his ope
ra'ions; and, quite likely, had been
here, being older, would have cautioned
him about getting in 80 deep. The check
book was kept here, but it was entirely in
bis charge. We had nothing to do with
it. Having perfect confidence in him VI
did not scrutinize the CHICKS as closely a,
we should. We took it for granted tina,
he was all right and 80 were his checks.
We always took the number OF the check
the signature, &C., SO that in case OF wrong
that could be traced, but We never looked
carefully at the signatures supposiDg, Of
course, that they were correct. The
checks were used to carry gold. The
banks prefer that i, shouldn't be known
how much they lose, and other parties are
interested in keeping the matter quiet.
| have been compelled to stop payment
| was on: of town when this occurred; my
partner telegraphed for me to come down
at once. l did so. suspended, made an
assignment to David Groesbeck, l have
no idea where ketchum has gone, nor
what is the amount of the forgery"
WORTH MARRYING Probably the rich.
est woman in the United States is Miss
Eester Robinson vaunp and h..ut;f,l