The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1865-08-16
The Failure OF Morris Ketchum anal

Company.
New YORK, August 15.-The Even
IHl!s fosI says concerning the failure OF
MOTIFS, ketchum and Company:
IEE cp11S, failure Of Morris, Ketchum and
company has produced a more pro-
found sensation than any similar event
winch has occurred for some wears. at
tended as it is by the flight of one OF
the Junior members of the firm, E. B.
hetchum, who has distracted securities
10 a very large amount, beside drawing
out of the bank as much as possible Of
the available funds of the firm. On the
discovery of these facts, Mr.. Morris
ketchum, this morning, ordered pay
nnent to be stopped, and in a few DAYS
ne VIII be ready to submit to the cred
1tors proposition for liquidation,
Meanwhile all remittances are deposit
ted in the bank to the credit of the re-
mltters. The large capital of the firm,
and the wealth of its senior partner
renders it probable that the loss to the
creditors will not be so heavy as was
nj hrst reported. It is as vet presume
ton to attempt to state the amount of
the detalcatiOn, but it is Variously esti-
mated at from two to four millions of
dollars.
The Washington correspondent of the
Post, noticing the statement in the
chicago Times that JEFF. Davis is to be
tried by a civil court, says that SO L. UGH
as intimates an early trial is without
foundation. 1t is true that the Govern
ment has decided to try Davis in n civil
court, but the date of the trial has not
Deen hXed. 1t is also probable that he
Will be tried ut Richmond.
NEW YORK, August l5.-Edward
ketchum, who has absconded, is 25
years of age, has been married two or
three years, and has one child. Before
departing, he left letter for his father,
i'll which he admitted the crime, and
asked his father to provide for his wife
and child, saying he had provided for
himself.
1t is reported that he abstracted bonds
from the safe of the firm, but to what
extent is not now known. The 4th Ma
tional Bank, it is now stated, is in
Nolved by his transactions, $255, 900,
certificates.
The last seen of Ketchum was in a
trunk store on Broadway, where he had
some fifteen packages of money,
thought from glance to be as much as
$4,000, and where he purchased IL trav-
cling bAg.
A card from the President of the 4th
National Bank says that it is perfectly
sound, the earnings for the last six
months largely exceed the amount of
forged certificates held.
NEW YORK, Aug. 15.-Eurthcr deveI-
opponents of the forgery of gold certiti-
Gates have been made to-day. 1t APP
pears that Mr.. Edwin Ketchum, of the
firm of Morris, Kctchum, Son IL Co.
has been in charge of the business ofI
MIR. Charles Graham, broker on Elk
change place, during the illness of Mr..
Grnhnm. Upon his return to his office.
he discovered that several checks were
from his check book. This
fact has led to the suspicion that Mr.,
ketchum is concerned in the forgery of
certain fraudulent checks that have
within few days past been brought to
light. AT all events, he is absent. 1t is /
said that MIR. Graham has been victim-
lied to the extent of S2S5, 900.
This morning the firm of Ketchum.
Son 81 90. suspended payment, and
Graham & Co. have also announced
their inability to meet their engage
mentS. MIR. Graham stated Mt the board |
that he hoped to be nble to settle all his !
stock contracts at tO-day's prices.
/, Another statement in explanation of
The suspension of Morris, Ketchum d |
Co., is that Kctchum's son had abstract /
ed bonds and other securities from the
vaults of the banking house, to the
amount of S2,OOO,OO
Another statement is that young
Aetchum forged gold certificates to the |
mount of two and half millions of
iollnrs, which had been passed into the |
Golfers of the bank, which will be the
principal sufferers.
Sitting the various rumors, it seems
that young Ketchum is
guilty of rObberies to the amount of
not less than two millions of dollars.
BE had for some time taken the place
Of his father in the arrangement Of the
business, and possessed the full conf
lence of all who knew him, He left
MS home yesterday and has not been
raced since. His partners did not sus-
poet their losses yesterday, so adroitly
we're his operations conducted.
Jenkins, the Phoenix Bank rObber
waived an examination this morning
md was fully committed.
rhe Coming state convention In North