Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1865-09-07
The Ketchum Frauds.

'Burleigh" gossips as follows about
the Ketchum defalcations in New York,
and gets in some facts not before made
public:
1t is ascertained that young Ketch-
ums flight was fastened by the detec-
tion of his forgery the day before he
disappeared. One of the forged checks
came into the hands of a wealthy Ger
man firm who had loaned Ketchum &
Son $4,000. He said nothing, but i'm
medately called in his loan. 1t was
paid. He advised friend of his who
had loaned $4,000 to call it in that
day and TASK no questions" The two
circumstances admonished young
Ketchum that his secret was out and he
fed He was not untainted before. His
margins, amounting to the astounding
sum of half million, had attracted at
tention, and in one or two instances
loans had been refused him. The story
Of his GOODNESS, nerve and hardihood are
made up for the occasion. In the house
where he obtained temporary refuge he
shut himself in his room, took his meals
privately, ate but little, was nervous,
walked his room most of the time night
and day, so much so as to excite the
sympathy of the family in the house.
The arraignment of young Ketchum by
the public prosecutor, and his commit
ment to the Tombs, was sad surprise
to all parties. 1t was understood that
the forged gold certificates would be
taken care OF, and that no one who had
lost money would appear against the
young forger. That had been arranged,
for money is potent here. But, by
strange inlatuation, Ketchum kept on
his person the evidence of his guilt, and
on the forged paper that he had, he is to
be arraigned and tried under the statute
of the state. When put into the cell so
lately occupied by a murderer, he wilted
and quailed, going to the inner side of
the cell and crossing the inner door. A
young man, at the head of the financial
world in this city, with an elegant
home, moving in the upper walks of So
cial life, with all the cash he could
spend put into his hands, in moment
he falls into the deepest disgrace, and
becomes the tenant of lelon's cell.
AS was true of Windsor and Jenkins,
there is a woman or two at the bottom
Of all this.
Few firms have had such disasters fall
upon them so sudden and heavily that
have excited so little sympathy, as the
Ketchums and the Grahams Ketchum
senior has been what the world pro-
nounces sharp and hard, though a sue
cessful man. He always exacted the
pound of flesh and had the scales and
knife ready. He had little sympathy
with debtor and considered failure q
crime. And when he went under, as
such sharp and hard men generally do,
there was feeling OF relief rather than
of sympathy. We had large firm in
New York, few years ago, which in a
certain class of goods was the heaviest
house in the city. 1t was reputed to be
wealthy, and the head of the house. an
imperious but talented man. was an au-
tocrat on change. He settled all the af-
fairs of the house, and when poor
debtor, unable to pay, came before him
to get the best terms of settlement, he
received the harsh answer, "A hundred
cents on dollar" And that his prin-
ciples might be known, he had a large
sign painted over his counting house
door" No compromises" He laughed
at the idea that he, should ever need a
| favor. And when he was told that men
as rich as he had failed, his incredulous
answer was, "rll see to that" But he
went down deep. His failure was over
wheiming and complete. He felt not
only the disgrace Of failure, but the ex-
ultation which he read IN every honest
mans eye. He hung round for a long
time on the outskirts of trade. looking
like man who had committed a great
crime or was suffering a terrible retri-
button.