The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-01-28
A bankrupt CONGREGATIONAL MiIIIonnIro.

A Bankrupt Congregational Millionaire.
Franklin (Pa } correspondent of the Lewis
ton (Me.) journal gives the folio wing history of
the case of the Hon. Charles V. Culver who has
been released from Imprisonment in order to
take his seat in Congress:-
The history of late inmate of the jail in this town
ahd county Uust released by direct intervention of
Congress- by virtue OF his privileges az NJ C) IS both
romantic ana of interest. six years ago young
man OF aflabe address and very agreeable appear
ance made his debut IN Franklin, opening banking
ofhce on seemingly small aud (fepOIted) borrowed
capital. BY eteTs OF Introduction from most honor
aple parties by suaVly of department that at once
won and retained large circle OF acquaintances, by
an unobtruslve yet Jealous interest IN the Methodist
ChOrcb, and occasional exhibitions of charity magni-
hcent when compared vito the gifts OF his nephbors
TINS young man rapidly gained popularity and
DlanCbed out into larger spheres of business. New
YORK city became familiar with his name, and Wall
street always responded literally and promptly to
his call for specie and bonds All nv once the sOecu-
latye excitement sprang up, and the Wall street
banker and Franklin banker drew VIVID pictures or
progress and wealth. Indeed he was elected to our
national Congress from hs district and Is now a
member of the Ihrty.ninth Congress- an honor
gwen MIN by an admIring constituency. Reno.
nOuTlshing town in the OIL REGIONS, founded bV
him, and its priucipla street now bears name.
railroad, costing 81 1000, LAID out and built
and equipped Under his control, and at the expense
Ol his pocket, General Burnside, of Rhode Island,
acting as civil Engineer. A private residence
was fitted and furnished luxunously with
Of art. Wild lands OF Illinois and Indiana
were bought up, and the deeds thereof were
at bargains in the brokers Office, and Sir Morton
Ptto and party were feted Oy him with Drodgallty.
Confidence IN him ana credit to HIM seemed without
limit, until, a few months ago, heavy and sudden
draft on his New York house found not enough
funds IN his safe, and Culver, Penn & Co. were
reported as having failed to the amount of So 100000
Indebtedness. Mr.. Culver, who was the financial
agent and manager OF the concern cOntesses to the
Indebtedness Of S4 900 COO. In addition TO several
civil snits, many indictments pending against
HIM, charging him with emb ement ana fraudu-
lent pretenses, in that special deI osits and tempo
Iary trusts were appropriated by him to private
ends. IL is due to Mr.. Culver, whom had be
eved to be of honest purpose to soy that his neigh
bors here generally accredt him with no disposition
TO concealment and believe him 10 be the victim OF
wild and visionary scLeme that have their first
origin in the atmosphere OF the New York stock mar
kets rather than predspOsed swindler. At this
exhibit TO his creditors, his assets valued original
costs, exceeded his debts by SIX hundred thousand
dollars but not more than two-thirds OF the first
price could be realized And while he might have
availed himself of his Congressional privilege TO
secure release from imprisonment long ago he pre-
ferred TO meet his wrong in manlul confession of it,
due reparation as lar was IN his power, and pa
tent submission to the punishment of the courts,
and was only released last week on demand of the
Sergeantat-Ar Arms of the United States House of
Representatives, 1t Is strange sad spectacle The
millionaire OF yesterday penDess to day, and even
his household effects have been knocked down by
the auCEOneer,