Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1866-10-06

ing. At the request oil the leadlhB creu-
forts. we abstained on Saturday from
giving a detailed statement of the losses,
Int as they are now we'll known IN com
circles, we give themln full, as
far as ascertained: a t 1 4
Plank of Montreal. .................... $40, OOO
Third National Bank. lO,sOV
AIechanics' National Bank. 5,090.
Fourth National Bank ......-.-..: 4'oOo
Sturges' Sons, or Field, Palmer Letter lo'ocV
Total .,.............. ........... $4,000
THE above represents the amount OF
money which MIR. Doolittle obtained ON
Monday and Tuesday last, under cir
cumstances which leave no. room to
doubt that he has perpetrated bare;
faced swiudle. The $4,000 obtained
from the Bank of Montreal was received
in this way. He called on MIR. Park,
fine manager, and representing that he
was settling up his Cedar Valley BUSH
ness" and that one of the contractors a
MIR. Stebbins, was going to Canada, and
rather than take the bills of exchange
of the Producers Bank with him there,
where it was but little known, he was
desirous of procuring the bills OF the
Bank of Montreal on New York, to the
lanonnt of S15, 900, and he (Mr. Doolit-
tlel would give the Bank of Montreal
the bills of Che Producers Bank en- the
Corn Exchange Bank of New York. -
Not suspecting any attempt to perpe
trate a fraud, and being DESTROYS to ac-
commodatelaF brother banker, Mr.
Park made the exchange as pro
posed. The result was that Mr.
Doolittle sold the bills Of the Bank o
Montreal, and pocketed the proceeds
failing at the same time to provide the
/ Corn Exchange Bank with funds Il
meet the bills which he had drawn anC
given to MIR. Park. 1t is proper, how
| ever. to state that before the latter con
4 scented to make the proposed exchange
1Mr. Doolittie assured him, ron In
honor" that he had abundance of meanl
i'm the Corn Exchange Bank to NEE
his drafts, and that the exchange o
drafts was asked only for the purpos,
of accommodating ''hIr. StebbIns. -
Whether or not there was ever any sucf
parsonage as MIR. Stebbms does mo-
Iappear.
The Third National Bank lost th'
$40, 900 set opposite it as follows: Fol
several DAYS the Producers Bank wal
/ unable to pay the, balances agalnst 1T
and Mr.. Doolittle negotiated with the
cashier to pay in Texchange on New
York. Some of these bills Were paid
| but those drawn on Monday and Tues
day last were not paid, and probably
never will be. But before MIR. Holmes
accepted his bill of exchange, he de
manded OF hlm list Of the gstockhold,
ers of his bank, ana he presented list
of names including one or two Iowa
bankers and other monied men-all ol
which, it has since been found out Wai
false.
| r The loss of the Mechanics National
Bank was made by purchasing bill o.
exchange on the Com Exchange BanE
of New York, whieh,p Of course, Waf
not paid.
The loss set opposite the names o.
Sturges' Sons, and the firm of Field
Palmer & Letter, was made IN thus
manner. Mr.. Doolittle bought IRON
Mr.. Sturges a draft on New York ioi
SO, 600, paying him with check On his
own bank. The draft was taken by MIR.
Doohttle to MIR. Letter, of the firm
UNCONVENTIONAL anu SctNt 80 AiiIi5 49,
wing i'll payment therefor $40 oOo ~
money. Meanwhile DOoolittles cheek
to Stnrges' Sons was returned unpaid,
and Mr.. Sturges Immediately tele-
graphed to New York stopping the pay
ment of the aforesaid draft, and also TO
Mr.. Doolittle's correspondent In New
York, warning him not to pay any
checks with the expectation of that
draft being paid. Whether the firm OF
Stmges' Sons or Mr. Letter has lost the
$780, is a question for the courts to
decide. Mr.. Letter is an innocent
holder of a good draft, which MIR.
Sturges refuses to pay; but it was OBJ
tanned from him under false represen-
| tations. -"
The other frauds were perpetrated by
selling bills of exchange which were
worthless, Mr. Doolittle pocketing the
proceeds.
But MIR. Doolittle made numerous
attempts all round the city to make a
much larger haul than he did. He went
| from banker TO banker with formida-
BILE array of names as stockholders, try
ing to induce them to purchase his ex-
change, but failed except IN the cases
\ a