, 1866-04-05
FINANCIAL AND COMMERCIAL


WEpSEspAr EVENING. April 4, 1866.
The failure CT assignment Of D. Hutcmnes Tad
ger, noted yctterday, has excited considerable
comment In financial circles today, and The general
verdict seems TO be- that sniee little game has
bet n p.ayed by somebody. The tacts Immediately
connected With the failure ARE ~ follows: Abon.
eleveu Or halfpast eleven O'Clock yesterday fore
noon, Mt. B. Il. Badger went 10 the Second Ns-
lionaI Bank and informed the officers Of that rns1-
tutluu that he had $10 o00 In gold to chip 10 New
York and which he wonld ship to their order, and
bring them the express receipt for the game before
the bask cloeed Is oc1ock) iftheJ would accommo-
date bin wiih <1s6o in currency, so that he could
make additional ruschaees-he to give them
draft0 New York, with The gold al collateral As
The Cashier Of the Second Sntioun1 BanE had ro
reasop TO doubt but 3ir. Bsdger would bring IN the
gold receipts and drats, he agreed to do be eare
him the curn ncy. Immediately thereafter. Mr..
Badger proceeded to the 1lerrhsn1.' National
Bank tnot the Commercial, as etnsed yestesday>,
told The Earae s1oGy, made the tane arrangement,
received f19 so more. and promised 10 bring in
the exchange with the gold or the express receipt
therefor. before the bank closed. These two suus
-anonn,Ing to gas ESQ be deposited with 4. c.
Baoscr i Co-the pr1ncipa1 Of which tsn I. a
cousin Of hfs-and By tEu o'clock p. N. he had
made IN Assignment 10 4 roan n4med Smith, said
10 be his booE.keepeT+
On the afternoon Of Monday however, MI. Dadg-
er purchased gold and Sterling exchange from
JHmct Boyd & Brothers, 10 the extent Of ana,
and paid The latter with check on 4. G. Badger +
Co. Hc also on the came day made purchases OF
gold, &C, Of NJ cosmfth, TO the value Of 81, 4o1
and pad hin In the eAfne way. Both these checks
we1s dcpoe1ted and went through tic Clearing
aouse, but they ~ere returned yesterday forenoon
unpaid-A. Z. Badger Co. having refused TO paj
them.
Both Boyd + Bruthett md N. Corwith acceptcd
these checks as payment. with the understanding
which existed In the minds OF the public That 4 C.
Badger i Co. al~ayn paid the oserd.a1.e. II any.
Of B. H. naaEer, and they did not think 1t neces-
eary TO pet the checks cerded at the bank, theY
peDeEally do with weak dsa~err.
II is also proper to state that the oicets Of the
Second National Bank At least, upon inquiry, were
inform ed by L. e. Bsdscr T. Co. that any tlan.ac-
tfons they (the Second National Bauk) had with B.
H. Badger, wpuIG he sali night, md on the strength
Of this assuaree, they did not in the Ieatt doubt
bnt Nj. B. u. Badger wou!d hiring in the $4,000 in
gold which he Informed them he bad In hss pos-
session. A. be agreed to do.
We understand that Mr q. Il. badgers account
IN the bsnk of 4. c. Badger 4 Co. WAS oTerdrswn
yesterday morning, and that N soon a. the latter
received the deposit Of IS 80 they sshut down.
On him II Is natural that the officers Of the Second
National and The Merchants National Bank should
feel aeE1ie~ed; but It was not necessary that A. G.
Badger + Co. should know where B. Il. BADGER got
the money 10 make hts account gqod.
1t proper to add that there Ii reasonable hope
thnt lhe claims Of James Boyd l. Brothers and n
Co5eth Will he paid by A. c. Badger & Co., as. at
the time the checks wess presented there wns sut1.
Gent 10 the credit OF B. Il Bsdgcr 10 pay them.
Mestrs. Boyd q Brothe1s e1press themselves ful;y
ssilefed that Af, B. Il. Badger, when he gave them
the check for $a70o, bad eyery reason to suppose
that # would be promptly ca.hed on presentation.
The Claims agninst B. Il. Badger are reported as