The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-09-11
ARDTHER COLLAPSED INSTITUTION.


How Soma Co,nnanies ora Rrougb+ into Evis+
o,oo ov,d IIo,, rrbo, c-,5sooI,, nio o,,t T,,.;5o
ence' ana now Ahey suooehIy DE Out-1nside
View Of the Workings OF a SG,500,000 Com
pany-Laree Men Making Small Returns-The
T,oosrrey a wall z,o,,,, oaioio1 Oooo,,,,,, ,,,i+t
ca " " - Nilio1''i, Ooo'Ap "A'u
the EundE-Fast Llfe IN the Meropohs-Aueged
Embezzement OF 900, Etc.
Those readers who may have been IN the
@ haDit vi t % naoau SIIGeV, 5 .g
~ t % ' ~ III @ auv 49,, 90 - Ot t
~ %tU thoro Si+S 'po ] ~ Gs.t
i - - ,oo+d 90 NJ p 4 U.o
49,, ,',1dor tbo +oIsnT titIo of ttrho S,o,
Stt piontinnr - CO.. ToU1ro,,I :; ti az tsL
SouIOl 49, itaI 81 60 E6N NoN 4b ,,t t coz
III ot tp,boo+ ~ nssoyot 'Ai CIV "-o
1io noS Soto hoo,, booTo n tho stroo+ ,rp,s
40 tbn necr that T6e ins+iTntio,' Tas nt go
d o ,Go Row Of L;rTIond oUd tbot o' it ~ az
cors ere nntanSied Snnei irH U
tendent Warren, ofthe General Detective Police
Srooc,. No go bc,odwoy fnrnisbee tbo f1o1s -,
itf, t tho ,rn,@rs ofn,rosaid 'A' '"0'' ~
'0''''N-' ~ VIZ w." '-V' '""'N'
THE COMPANY.
.. D,,
ii appears tnaU some tllne III feoruaTy laSt
gentleman Wloely known as one OF the chel
paymasters IN the DepaItnent ol tne Uul con-
celyeo the plauSiol4 laSa 4i I IoIdg Sd stOcK
company, the oplects OF Whic1 were louIloiu,
Vlz.;-Flrs', 10 Iurnsh caPlIaI 10 revive Ine
now depressed industry OF the South. SECOND,
10 turnlsh lnaterlal ala ana PIactlcal auVlCe 70
immigrant VINO mlghl manlles! an ampltlon 10
demonstrate the ldea that Whlte laDof could
develop Cne agrlCultuI1I r lCsoGice9 vi tnaC SeC
tion OF the country. Ihld 10 eNJehu ana 10
the freedmen by furnishing advances to the
planters, thus enaOllng the latter 10 employ Uhe
former at iair wages. Fourth, 10 SO manage
the business affairs OF the company as 70 renuer
the investment OF the capltal therem deposlted
profitable" to the STOCKHOLDERS OF the concern
TuE PLAN
.... -, - a., .,..., ...,,.,
IN me loln On suDaEueS o t, 10 plahIeIs Wlos9
Plahtatlons Mele nte nun l iloGl IN oluCes anu
Iost iaNolautS lIOaSeu' anu i iH t Ie puLcISG VI
those Ialus Which ~ snoI'u yleIu 'ne iiiost natteI
ing prospects oI iaIge returns, All advances
were 10 naN5 pgen i 5y upUn n5s. niGIIeaSes, pro
perry executed % and i. uelyeLeo @ 20 the company,
IN & W oe ,ienS TS Sne Jaws vi
pared for market, to be shipped to the branch
office Of the company in New Orleans,
and divided or sold according to the
terms of the mortgage. In word, the
stockholders we're assured that each share
of took would be secured by every mortgage
held by the Company, which mortgages were IN
most cases to require the payment OF the ad-
ofthe crop remaining after the payment OF ad-
vance and interest. AT that tlme the whole
Northern people were impressed with the idea
that 1t could be clearly demonstrated that white
labor could raise cotton and sugar, and that
the Southern soil was not wholly dependent
upon black labor for its development. The
pans set lOrln Ny INC OllhdOol VI lhc OOhpduy
seemed admirably adapted to accomplish that
end, and as consequence the protector OF the
enterprise was successful IN assoclatIng
with himself an eX-Secretary OF the war De-
partment, an eX-Goyernor OF the Granite state,
an eX-Treasurer OF the United States MINT,
and an eX-SecretarY Oh State OF the STARE OF New
York, in connection with several wellknown
merchants OF this and other cities. Among the
notables thus collected by our worthy eX-Chief
Paymaster was as before stated, an eX-Irea,
surer OF the United states MINT at the clEy H OF
Brotherly Love, who was at that time one OF the
leading members OF banking hrm which
enjoyed tair reputation, and who generally
allowed this company, while IN embryo, the free
use of his office, in which the directors held
their meetings, which Office was elaborately fur.
nished with the most costly appointments and a