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

annum-a sum appareutly sufficiently adequate
TO TCmunCTatc the services ot each.
The banking house before mentioned took
charge OF the collection OF sub-cripuons to the
capital stock OF che company, and increasingly
abOred 20 push the enterprise to successful
Status among other stock companies. That
they succeeded in O measure Is strklngly appa
rent TO quite number OF persons, who may be
now the poe-essOfs OF some OF its scrip. The
manner oiliving adop!d by the Treasurer Of the
.ussuU,auon, II seems, did not for time attract
the attention of the directors, who, although
aware that he was residing at one of the most
fashionable hotels OF the city, were totally To-
norunt OF the enormous expenses which we're
daily incurred by him IN the qualification OF
his epCurcan tastes. The most fragrant Hn.
vanas aud the finest wines contributed to
hs enjoyment, while last, but not least,
IN the items OF the claimants upon
his purse, is 10 be noticed the tact that there
was one of the denli-mOade stopping at the same
hotel with the gay Treasurer, and occupying
rooms adjoining his own-these, connected with
living expenses of "iellow" in the person of a
married man, who undoubtedly had a strong
hold upon him; besides the weekly remittance
to his wife and family, who resided in Pniladcl-
phia, contributed TO involve the Treasurer SO
deeply that, Notwithstanding the fact that he
was still unsupported OF having msapproprated
the funds OF the Company, yet no doubt TO his
own MIND the conviction became evident that
the evil DAY was approaching and to avert
that, he bent all the energies which he had.
Fortune seemed to favor his plans. His high
character seemed to be above reprOach, and Tor
several months no investigation into the al airs
OF the Company was had by the directors.
AN ACCIDENT OCCURRED,
which, by arousing the suspicious of a gentle
man interested in the affairs OF the Company,
DreClptated the expose A carpenters bill for
work done in the Office OF the clearinghouse on
beng presented, was declared to be eXtortion-
ate, and payment refused. The carpenter sued
and obtained a judgment for his claim, which
ufoc ,fI1u1 ly afaHh h
OF the money drawn on q check which had been
paid by merchant Of this city, as Il subscrip-
ton to the capital stock OF the American
Cotton Planting and Loan Company"
Such misapprOpration OF the funds of the
company did not escape the observation OF the
gentleman III question, who Ieiated the circum-
stance to one OF the directors, who, at the next
meeting OF the Board, called tor the Treasure r's
account. Under the plea OF excessive business,
that officer deferred the production Of his ac-
counts until the next day ut noon. al which
time ne promised the gentleman in whose hands
the affair had been placed by consent OF the
directors, to EXHIBIT such account. rhe next
day arrived ,abut no Treasurer was on hand; but
instead, message was lett for the gentleman
TO meet HIM at twelve the following day, July
=. Tins appointment he also failed to keep but
FLED FROM THE CITY
10 Philadelphia. An investigation revealed the
fact that Notwithstanding the large amount of
funds which had been paid in for SubsCriptiOns
the total OF which cannot at present be def.
mtely ascertained, on account OF the Treasurer
having left subscription books in various lOcali-
tes known only to himself, and having been in
daily receipt OF letters supposed to have con-
tanned remittance, but which is estimated to
be upwards Of $780, 600, large number of bills
OF expense incurred during the formation Of the
company still remain unpaid.
From some underlined reason the directors
have so far taken no steps to have the default
ing Treasurer brought to Justice, although it is
reported that he resides in Philadelphia, thus
showing Culpable negligence in the manage
causes much complaint on the part those who
have been led into the scheme by the known
responsibility of the gentlemen composing the
Board of Directors.
Further investigation will undoubtedly throw
more light upon the subject. In the meantime
all parties who have suffered through the acts
OF the defaultng Treasurer will, by communi-
catmg with the superintendent OF the Police
Agency, further the ends Of justce.-N. Y
HfLnld.