The New York herald., 1871-11-01

business OF the kind,n and so no proceeds from
Cookies to B. X. Jamisonis. Saaer's Drexers and
other banking houses In Third street. and receives
the same answer everywhere until finally he
sumbes into Yeq4es'. He has hit the spot at last,
and succeeds In getting bis money. less
pssc0UNT OF FIVE PER CENT.
IA wing fonud out show 1t Is done'. he comes TO
Yerkes the next month, as soon AZ ne receives his
warrant In this way Yerkes, through his friend
ing city warrants, and ''dvidend day. between
Jones and Yerkes must have been very interesting
snow, Yerkes,r says Jones you needn't return
these warrants, but we. thats JoEesl WIN let you
cky warrants 10 be negotiated ut less than par.
you can get that for them, and Whatever you get
Hf give 70 S
that city warrants went one and one-eighth
per ofsc aoSys par wncn o
poor.' Again, the CITY Treasurer receives an issue
Of city warrants which he is instructed to sell for
JONES' LITTLE BELL
tap two squares distant. He appears on the scene
saurferred from the City Treasurers 10 Yerkes ONCE
to he negotiated. This thing runs along smoothly
demon Of look possess,on of s Yerkes
with Reading stock on the brain," he rushed into
aaSe Wsse aeS sobed %
ing' or "Pennsylvana' fluctuations. and. the
city warrants being handy n.. and easy ,o. 70
Yerkes. in technical phrase, was .sbuln9 the mar
ket." stocks deprecated, the Chicago 6re sent
7. Yerkes, Jr.. awakened to lind himself sl
4 } BANKRUPT
The news OF Yerkes' failure spread ut once and
but short time elapsed before his ofice flied
with anxious creditors and newspapers reporters,
Yerkes was cool, and very frankly informed me
that he had failed and that his affairs very
suit Of my interview. o brief telegram, was PUB
iished IN the HERALD At the time
Baroary." as il is Called in slang parance % among
Philadelphia brokers. with general dstrust. Every
one suspected his nesnoSr and for two
time, but broke ont anew when Vt the 3.
for negotiation. Business was - q standstin for
s4ssooo .irreseusrity' Is no common one one in the
e'sKef f NY "a coxxrrrrn OF sEvnsrYn
Was sy councils to I've the r
was was the 1 9psIot @ OF the investigation. An informal
examination was had and Yerkes held IN
to answer the charge. The investigation pro-
Ceeded and the absence OF the warrants was proved
beyond doubt. Yerkes mad q second examination
Ing held in elghIy Thousand dollars bail-ffty thou
sand on the charge OF embezzlement and thirty
ton Philadelphia has experienced for years.
arrested He should have been arrested nrst. what
has MI. ysrkes to do with the city IS he response
Treasurer; iSs H. i. i the man the city mus; mus.
agent. nothing more. nothing less, and what rea-
son had the Inv vesugating Committee to order
delpnia can understand 40 not wish to
be % understood .s.r as trying TO shield Yerkes or
Ger % the ctys stew steward s he Oia%e a1ene MAS IS
accountable to the city. Yerkes Is accountable to
as osr the e
broker IN Wall street VINO had been entrusted with
Gr g
ernmept. have twice seen Marccr, who is SO over
WEIGHT OF HIS MISFORTUNE
tnat1t ls Impossible 10 get connected history Of the
affair at his hands. He could only tell me this
his voice was trembling from smotion, that some
one chad Just told him that Yerkes was
e 10 @ De ans
sss ss,sss me s s q ssrss
are good, and 1t is believed that Yerkes viii TX tue
70 ss
men who are investigating the AFFAIR are, some OF
s IN for
the guilty parties whoever they may be proved to be-
Philadelphia for some reason Is q subject Of l, rdi
OF adopting measures to stay the shafts OF rdicue.
her citizens seem determined TO aEord ord outsiders
fun now aimed at the Quaker City. The system
now In vogue at the Treasurers Office is unhealthy
one. There Is not bank clerk IN Philadelphia that
would think Of allowing anything expressing cash
value TO pass over his employers desk without re-
ceving collateral therefor; but Jones, chief clerk
in the City Treasurer's office, takes It upon himself
pass to his friend Yerkes city warrants valued
At s47sO0O without receiving cents worth
Of collateral as security and Mr. Marcer,
the Treasurer, excuses himself from any crimi-
nality by saying to the investigating committee
''IT Is A CUSTOM OF THE OFFIcE.n
custom OF the Office Well, the sooner Phila-
delphia public officers are relieved or the .scus-
toms'' the better 1t will be for the taxpayers and
the officials themselves.
Another CUSTOM In vogue In Philadelphia may
we'll be rescinded. refer to the payment OF public
servants in city warrants. lt Is unjust to the re-
cipient unjust 10 the taxpayer and unworthy or the
second city In America.
Philadelphia Is well able to pay all her public Of
fceTs In cash. 1t Is only necessary to make the
Inmates. cover the amount needed and raise the
money by taxation. II is an outrage that city Of
the wealth and Importance OF Philadelphia should
descend 10 defraudlng her servants out OF 1--WE per
cent OF their salaries for IL s to all tnteuts pur
poses deiraudIng. 1t Is fact patent TO all that no
one can get a warrant cashed without submitting
to that discount and the sooner II is stopped he
better.