New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-08-16
r,,,r,e of One Of the Largest Firms
In. the Banking Quarter.
y,,circ and Ascending of the
Junior Partner,
His Departure with sa,soo,oo0'

Tho Latest excitement Ill W dlI-s''' "h" P'''
a.. ,.o greatest for O number OF years IS the q"
1D '.aoosot Of failures in distinguished nn'ncin
80. Tho old and honored firm OF Messrs' MOTIFS
,,.hnu, Son Co.. has failed for an immense amount
:, ,onov audEdwin r. Ketchum, the late manager Of
M concern and the son OF the senior partner has SUD
,o,,v aisoppeared and as funds TO the amount ol
A. o ooO are found TO be missing at the same time,
a. ooreluson Is that the young man has absconded
With the money or its equivalent in rad debts
N, Ks.ebum ST., resides at Westport Conn, and
oa ,ssgraphed night before last by Mr.. Belknep OF
Tho firm that his presence required Ia town. MI.
Kctobun arrived yesterday morning, and for the hrst
lime learned the character and extent of the astund
INC frauds which had been perpetratcd by his son. he
Immediately directed the house 10 suspend payment
and mike an investigation into the condition of Its
affairs The investigation shows that the frauds were
terpetraea on the house to great extent by abstract
ing the coateras which bankers and brokers had left
With then as bypothecations of loans, and on which
advances had been made. As far as aseertained the
members OF the house are Of the opinion that they viii
he able to pay fifty cents on tie dollar
An the remitanees received yesterday morning from
their correspondents. Mr.. Ketchum directed TO be
specially deposited in of the city banks TO the credit
Of the parties concerned.
Mr. Ketchum is the senior and has been estimaedtO
he wortA from s5OOQCOO TO S6,OOoOOO.
CHARLES GRAHAM g. co. s LOSS.
Mr. Edw. b. Ketclum is said to have forged gold
checks upon the Bank Of New.York to the amount o.
$4,000 which rumor increases to the possible amount
of 800 600. The goldchecks were taken from bool
procured inJune last ostensbly for the of Charles
Grabam & Co, who having made deposit drew
check or left their signatures with the Bank OF New
York which scted the cusodians Of gold for specu
ia,ors and brokers' The checks were numbered from
= O 70 90 both inclusive. and for IS OOc each
sud il is supposed were all used making an aggregate
of 81 5OOOCO The entire filing of the checks was a
forgery and they were used eoaters, and held for
loans.
OF course they we're not presented for payment. They
were executed and their appearance should have
disclosed sfaud at an early period. They were mostly
used amOng country and German hVuses apdthe Forth
Satiord Bssk loaned npoa them to the extent Of
s29W5 20 parties oat18e Of the baBh Of both
Ketcbun and Gresham. II Is stated tb.t in addition
10 this forgery Of gold checks, DIR T. Y Ketehnm has
robbed tie firm Of which be was partner snd active
manager Of large amount Of securities. The sum is
placed as high as s2oOOOOo Mr.. Graham. whose
business has been managcd by NJ. z. B. KetchuU for
TIE past two month"; Mr. Graham being i'll, ID loser TO
he extent Of s2sO,OOo.
The street was filed with r1mOrs Of other losses and
failures, and general panic prevailed Very low
quotations were consequently made in the stock mar
tet and there was little buying The close Of the day
The principal character in this csse Mr. Z. B.
Ketohum is & youthful, dGshing man. and was en-.
trusted with large sums Of money The tale Of his
iransgression ia bref and easily TO be traced Living
4 daily in the atmosphere Of Wa,st, be became in
!suaed with tho gambling spirit Of that locality He
and lost Little By little be was led IN deeper and
O'ePer until to crafty his gambling propensitics he
vent at any length and all lengths swindiua not only
TIE concern over which be had sway. but even commit
ting the crime Of forgery 10 accumulate the means
for fresh gambling, Yet he carried this load upon his
Dram and conscience quietly and skfnlly that no
one OF thos who were in everyday contact with hin
dreamed OF bis guilt He was seer on Sunday night
10 leaTe bis fathers house with small black carpet
bag Which, BOW that he IL gone is remembered to have
appeared Suited full Of bank notes. Government
bonds or sonehing Of the kind He has departed and
nag never be arrested but bis punishment will be
great wherever he goes and the dark close OF his
career merely repetition of the conclusion of many
avid drama thst has been enacted in Walst. where
gold Is everthe soul OF the plot;
cARD-npoRTERs' AND Traders NATIONAL