The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-09-30
A PuILADElpiis FINANCIER,
Mysterious Disappearance Of 9
Philadelphia Merchant.
His Reported Departure for Brazil-failuro OF
tho Firm M Vein Goa DsAoienGy Of
$500, 900 and Only 500, 900 As.ets-
Several Trusts Victimized. A

several Tru60 vlcCluA1zoos
PHILADELPHIA, Sept 90, 1871.
The falluIe OF the firm Of Charles Vein Co. Is
confirmed here tonight Great excitement has
been evinced among tho merchants ana brokers IN
Third street over the intellisSoe ine eAac'
amount OF their liabilities ls not known ". Du' si'e
result OF the investigation OF the accounts OF tue
firm far seems to show that the debts Of the urn
are from three to four hundred thousand dollars.
The most remarkable part OF the AFFAIR is that the
general partner, Charles Vezin has absented him.
self from the city since Friday last, and it Is alleged,
has absconded with considerable sum OF money.
In an interview with his attorney this evening
learned that Vein has been traced TO hotel In
New York. and that he left there on the Saturday
following, and took passage for Brazil.
The business OF the firm has been very extensive
for several years past but although Vein has al
ways stood well here his reputation considered
spoess by the elite OF the city, his business capacity
has been questioned, and many state that for two
years he has made no profit. but been
spending private money and moneys committed to
his care 10 trusts In 1869 William Fontalne, OF
Prussia, concluded special partnership with him
for $4,000, which was part proceeds Of an estate
sold here, which has, Of course, been lost. For
some considerable time past MS attorney knew he
SURPRISE as ne protested he had than sufficient
assets 10 cover any amount he could obtain on loan
and In addition it was known that he had an extern
sive credit.
The greatest portion OF liabilities are owing to
French and English merchants, but some small
amounts are due TO home dealers. The assets Of the
firm, as far as can be discovered, amount to about
sixty thousand dollars.
The paper of the firm has recently been unmarked.
able except at enormous rates. still 1t has been pro.
tested that the finn was solvent
He was partner in the large BOhlen trust, In CON-
pany with Robert Q. McMurtrie, celebrated lawyer
here which trust was created by the death Of john
Bohlen In Europe about three years ago, and the
occasion OF Mrs. hlen, the widow, coming here
permanently to reside at one time the trust part
nership was offered to VIM. Segler, President of
the Bank of Commerce, but he declined in
favor OF vezn The general impression Is that this
trust has suffered severely by his manpulatlons but
as the other partner Is away from town nothing
positive, as to the amount taken here.can be ascer
tanned. lie was also trustee for his brothers and
sisters In large estate Of oo0 left by his father
for division among children, and this trust has
been broken into 1t is feared to a large amount.
Again he was sole trustee for Fontaine, his special
partner who Is now in Europe.
His lawyer tonight stated that for some time
life, spending large OF money in charitable and
public institutions, and as he could not have made
any money from the business at 24S Chestnut street
he saw he was getting involved deeper aud deeper,
and seeing finally that he could neither meet his
Liabilities nor refund the moneys to the trusts he
found there was nothing left for him but suicide or
absconding and he had doubtless chosen the latter
course.
The commercial Register states that the firm Of
Vein 20. is first class; but the events OF the last
few days prove the lallacy OF their reckoning.
Vein has had high SOCIAL position here, and
took an interest IN all public movements, particu.
larry German affairs. He was formerly Consul III
Philadelphia for Bremen, and has since been Consul
for the Grand Duches OF Hesse Darnlstads and
Baden ana for the German Confederation, for which
ne received several Thousand yearly He would
have been created Consul for the German empire.
He was prominently connected with the great
German Peace Jubilee, and took an active part
In the French and German fair OF the close Of the
war.
he was for two years Commodore of tho Schuylkill
Navy and member Of the Undine Club, President
of the TeutoaIa Fire Association, ana otherwise
identified with all the leading societies In the city.
He married into the family Of the Prussan Colonel
Palisky. and has daughter now being educated
with her mothers friends in Germany.
He has not lett the least clue as his deficiencies
by documents, nor has he cOnlded to any friend
his determination to abscond, and the books Of the
firm are In such q state that The accountants Is
unable TO tell the exact amount OF money he has
with him. The general opinion Is that q greater
portion of the money has been spent, and that what
he now has with him Is sufficient only TO meet
present necessities.
Much sympathy Is expressed here for his brothers,
who are in the mercantile business here ana doing
AF tanir fnsh n
lished large business in Philadelphia upwards Of
sixty years ago.
An Investigation into the accounts OF the
BoEien and other trusts Will be commenced
Immediately aud the results made public, but the
complications at present such that no one can
! form correct idea Of the amount Withdrawn from
| each or all OF them
Having so many influential friends here, and
| aware that personally he uad many warm admirers,
II Is believed that he must be fearfuly involved to
| cause him to risk everything, mis- reputation and
| prospects, by leaving his AFFAIRS In this manner
! The reasons alleged for his going TO Brazil are
| that the United states has no cxtradtion treaty
| with that country.
| Further developments are expected tomorrow.
WEATHER REPORT.