Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1867-09-06

A TALE OF YoUNG CRY Not quite two
months az new branch Of business de-
veloIed itself in Burlington. Being a city,
and flourishing enc. with Mayor and Al
dermcn, and Police and Boards and Water
works and things, having a good many
trades within ! or limits that prosper in city
air, it Was but fit ard proper that another,
which most doth thrive about six story
blocks and amid the roar OF Omnibuses and
drays, should also spring up to embellish and
accommodate the City Of Burlington. 1t
is law Of nature that demand creates sup
ply, and to meet the last want and ployide
the last Distinguishing characteristic Of
great city, there appeared an Exchange and
Brokers Office. 1t burst out IN full splen
dor on Main street one morning, after due
course of preparation in the way Of paint,
paper, whitewash and furniture glowing in
the beauty Of its huge sign and ornamented
curtains, seductive in display of greenbacks,
silver and US bonds in the window. easily
accessible and evidently going to be "a big
thing" The card of its managers appeared
in the morning paper something in this
shape
Banking and Exchange Office
&. En-. Swindled * Go,
Dealers in Government Securities,
&C., &c, all regular and in due form, with
a well known New York house for CORES
pondents, an endorsement editorial of the re-
liable firm. and a special good word for the
" enterprising like gentleman, the resident
partner" with his "eye for business" and
glad welcome to our city. Burlington
felt larger at once. The citizens held their
heads higher, looked proudly across the
street and winked knowingly at each other
as their country friends stared at the new
sign and blazing window, and "wished they
could come and live in the city, where money
was so plenty"
The new firm throye, "turned over their
capital twice a day, bought gold and Canada
bills, all that offered. kept their neighbors
posted as to the quotations, and were
thing OF beauty unquestionably,-ior six
weeks at least. Meantime their agent in
Montreal was selling drafts on New York,
in small sums, at favorable rates, which
were promptly met, credit was established,
and every prospect of a good business.
One morning the PRESIDENT partner with
his ''eye for business announced his in
tention Of going to New York after some
that said eye had lighted on. The non resi-
dent partner hadn't come, and it seemed
necessary to close the Banking and Ex-
change office for few days, even at the risk
Of losing some business, and compelling
somebody to 60 elsewhere to get greenbaeks
for his gold but he would he back by Sat
urday and next week do a larger business
than ever. So the silver and greenbacks and
bonds were locked VI in the safe, the shiny
new curtains drawn down, and away went
the "cye for business leaving Burlington
meanwhile dependent on the daily papers
and private kilograms for the market quota
tons, and holding its exchange till the eye
should get back, or sending it to Fisk &
Hatch, or Howes X Macy, or some other
small metropolitan concern.
One morning two days after, it is reported
there rushed up from the Vermont Central
depot after the arrival of the Montreal train
an anxious-looking individual, much re-
sembling bank clerk, whose already lengthy
yIsage grew several inches longer as be
caught sight Of the closed door and drawn
curtains beneath the glowing new sign, and
shortened not at all after Intellectual rars
and shakings at the door aforesaid nor was
his anxiety a bit allayed on information
speedily volunteered by the bystanders that
the resident partner chad only gone to New
York for day or two. "Gone to Texas.
more like he's cheated Us out Of 81 600
and absconded, sure enough 80 "Abscond-
cd who?'' says well-to.dO looking man,
just alighted from the hotel coach, from the
depot. " Not {. L. a Co. you don't mean
it! Why, We bought draft on New York
for $1,000, and it's come back protested, but
! hoped to find them here. and arrange it
some way gone, luggage and all. ch blast
the swind.ers -
"Gone swIndlors ~ cries third also
Just alighted, well, who would have thought
it | cautioned our senior against buying
so large draft of that fellow, but he said it
was all right. So we're all swindled are we /,
what shall We do? But echo only answer
cd " Ou-u-u."
Alas for the glory Of city Institutions |!
alas for the nyalIng Of Wall Street and The
eclipsing Of state street the Banking and
Exchange Office was closed for good. its en-
terprise had eliminated IN a thorough swim
die. and the gilt sign over the door was the
only reality left to satisfy the protested drafts
held by the unfortunate Montrcalers. The
country cousins now ask anxiously what's
become Of the broker? and the citizens wink
sadly at each other as with dependent shrug
they answer - broke and run away " In
quirics as to the ''reliablc firm of those
who vouched for IL, only disclosed the I'M
reliability of the Information on which the
vouchers were given.
They folded their tents lie the Arabs
And silently stole array
1t was an old dodge, selling small
drafts which were promptly met, no doubt
by renting by express the very funds re-
ccIycd on them, till a credit was established,
and somebody was found some fine day, to
buy several drafts for LARGO arnoun =