The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-08-17

been impossible to the present moment to determine
the value OF the missing papers The abstrscted secur
ties were not exclusively the property Of dealers with
the banking house. but belonged in part it is said to
the hrm As was stated in yesterdays HKRALD Messrs
ketchum Co are placing in bank, TO the credit Of the
remitters, all funds sent to the frm They will hold
themselves responsible for missing securities owing
70 the fact that they abstracted by member Of
the firm, though it doubtful that the law could compel
them 10 guarantee their recovery a. name
OF the firm was used only once by Edward Ketchum,
when he obtained upon check, the very day Of his
flight, the sum Of three hundred thousand dollara
Mr.. GRAHAMs LOSSES.
The lossee Of Mr. Charles Graham who acted as broker
for Edward Ketchum will, it is presumed be more than
equal to million Of dollars In his own name he had
hypothecaed for Mr. Ketchum forged gold certificates
to The amognt above stated Other certificates received
from Mr. Ketchum equivalent in value to upwards OF
e'ahi .andred thousand dollars hove since the dscove
ry Of the defacaion besn Pronounced genuine after
having been submitted to minute examination Mr..
Graham is announced is making the necessary pre-
psrations TO effect early settlement with his creditors
STATEMENT OF Mr.. NORRIS KETCHuM.
Mr. Norris Kethum, senior partner Of the firm, on
being called upon declared that he had desire make
formal statement though he might possibly conclude,
at some future tme do 80. He merely remarked
taken from me between two and three millions in
res-the assets OF the house-besdes, fear, doing
other wrongs Of great magnitude in connection with the
gold checks The bouse cannot 60 on, Of course.
stopped payment on Tuesday morning. partially that
might understand condition and know exactly where
We stand but don't see how 60 Our remit
ances This morning very heavy were all de-
posted to credit OF customers have no idea
where my has gone. What could have tempted him
to do this thing cannot say He had everything which
could make his life pleasant and his position hero
peeuniary such must have satisncd-hm Ho was Of
my house on Sunday night, since when have not
him.
TO THE EDITOR OF THE HERALD.
New York, August 16, 1885,
viii you please give place in your columns to the fol-
lowing letter. which have addressed TO the editor Of
the Times. and oblge KETCHUM, SON l. CO.
To THE EproR OF rHs NEW YoRK TMEs:-
DEAR SiR-Your money article Of this morning and
10 less extent those Of other daily papers, contain i'm
putatons and msstaemens as TO the character Of
business dealings which calculated to greatly
not only ourselves but the interests Of creditors
II s not true that we have ever engaged In excessive
speculations in stocks gold or made any ''heavy
osses thereby We had nothing to do with the recent
rate amount not increased since July 20 and most Of
the time not sufficient TO supply the wants Of our hor
We have not been recently or ever borrowers OF money
and consequently have not bad to provide margins ON
loans either in the ordinary way, or, as nsnuaed by
your money editor, by dishonest practices.
We have and have had stock gold under hypo-
thecatonS but the contrary have always been large
lenders Of money upon the various recurtes dealt IN on
the street.
Owing to the frequent absence from town OF Mr. era
ham, we ceased giving him orders in February last and
have not since that time employed in any manner the
services Of himself or his firm
speculaons and the frauds upon resulting hererom
commanded 30 far are informed the confidence Of
all vhn knn Inn Raan fin UAtfro
WIN '''" H'A' ''p''s KsEffcH5M, SON co.
AN ESTIMATE OF THE LOSSES.
tisreported that the firm Of Morgan Dabney held
100000 in forged certificates the Importers and
Traders Bank $685. 900, the Fourth National Bank
$255,00 and Charles Graham h Co $2sb, 900, giving
thus far total Of So65 900 In worthless checks No
doubt the amount in the hands Of unknown parties will
increase the sum by half million.
STATEMENT or MR.. GRAHAM.
Mr.. Charles Graham, who acted Mr.. Edward
Kctchum's broker made the following brief esposa Of
such facts Of the have come 10 his knowledge
al was Mr.. Ketchum's broker He very heavy
operator Some time ago he made great deal Of
money but lately he lost when was at home he fire.
quenty checked by my advice his operations and quite
likely, had been here, boing older would have eau
toned him against getting In deep The check book
kept here but IL entirely in his charge had
nothing TO do with IT, Having perfect confidence in him
did not scrunize the checks closely should
We took for granted that he all right and
his checks. We always took the number and
signature Of the check, &C. that In case Of
wrong they could he traced but never looked care
fully at the signatures supposing, OF course that they
were correct The checks used TO carry gold The
banks prefer that IL shouldn't be how much they
ose and other parties keeping the mat
ter quiet have been compelled to stop payment
was out OF town when this occurred; my partner telc
graphed for Inc 10 come down once I did 80,
pended, and made assignment TO David Groesbeck
have idea whore Ketcbum has gone, what Is the
| amount Of hs forgery"
STATEMENT on rIiE NEW YORK BANK.
Mr. Levericb, President OF the New York Bank, has
| made the subjoined statement;
''Mr Edward Ketchum introduced here 10 Mr.
in June last when he made u written application In he
| half Of Mr. Charles Graham 10 open TN account We
| gave him gold check book which contained five hun
drcd checks running up from No. Ss5Oi These checks
need the four signatures OF deposor register teller and
endorser before they be Of any service Thcyrare
numbered and checked, there be no possibility Of
any fraud here. Mr. Kotcbmn handed q check for
one tlousan nd dollars by Mr. Graham but s,nce
the book was taken Mr. Graham has neither made do.
post drawn check, although he paid one thousand
dollars for that privilege 0n Monday heard that there
forged cccks Hooked and found three
| one signed BrockelmsuB, Unesr Co, and two signed
Hallearten Rersfed After went OUT Of town st ave
O'Clock twelve oshs turned up, each for ave thousand
dollars. hh singular fact that none Of these checks
and there II telling ho~ many Of them are out the
book cannot he found-hsve been presented either for
deposit payment !, is than probable that the
forged checks used simply @ margins and that tho
proceeds OF the securities which be h said 70 have takcn
from tho hcuse N take up tbe checks when
the margin wss exhausted"
| TINE SPURIOUS GOLD onKoks ~ coswcrcur.
tiepcw currently veported that the counterfeit gold
checks 70 the amount cf several hundred thousand dol
l"rsa few estimate shs total fully million Of
do'Iarhave been tAken otslde tho city and Deposited
AssolWews for 'sesa New Bsyen csnsses'esA " cnS