The New York herald., 1871-05-05
SHARP FINANCIAL OPERATIONS


Extensive Forscries In Lynchburs, va.-A
Merchant AbscOnds With Large Sums Of
Money-Ie Leaves for Europe, Never to
Return.
LYNCHBuRG, Va, May 2, 1871.
On Thursday last quito sensation was created In
the business circles OF this city by the discovery OF
numerous alleged forgeries, which were committed
by former prominent merchant, Mr.. Ambrose
Woodruff, well known as the senior partner OF the
late frm OF Woodruff & Co., grocers and commits
sion merchants. Mr.. Woodruff has for years past
been largely connected with the trade OF this city,
and has always occupied a high position In society,
as well as being leader In mercantile transactions.
1t was known that he had recently been engaged in
some very heavy financial operations and for three
or four months past mad been so
PEouNIARILY EMBARRASSED
that he failed to meet his monetary engagements
that suffered his paper TO go to protest. Notwith-
standing this, however, he was regarded as an homo
rable and correct business man, who was possessed
oil SUFFICIENT means to extricate himself from his
financial difficulties, ana the reasons he assigned to
his creditors for his failure 10 fulfil his Obligations
allayed suspicion and luled them into the impress
sion that he would eventually be able to pay out
Thus matters remained until sunday, the 2sd OF
April, when Mr.. Woodruff left this city, ostensibly
to be absent Tor lew DAYS on private business and
when at the railroad depot ne borrowed atty dollars
from gentleman whom he met there, promising 10
pay him on his return. Strange TO say he did noc
come Dack as promptly as mlgnt DO expected In
business man and nothing was heard from him until
Thursday last, when MS brother received letter
from him, dated New York, announcing briefly his
purpose 10 sail for Europe,
NEVER TO RETURN
Inc nteiligence was received WIN no ORDINARY
degree or surprise, as neither his family nor friends
had had any fntination OF his ntenloR 10 cross the
ocean. The news among his creditors naturally
gave rise to suspicion, which then led to an ex-
animation OF his transactions with eacn, and soon
the glaring fact became disclosed tnat he had per-
petrated q number OF forgerles, the full extent OF
which are not yet known. II Is estimated that the
loss suffered by the mercantile community here Will
ONE HUNDRED THOUSAND DOLLARS.
over sixty thousand having already been ascer-
tanned. Mr.. George T. Pe.usants and Mr. John
N. peasants, or Amherst county. are Cne gen
tlemen whose names were forged-the former
being the father.in-law OF the a0sconding mer-
chant. The banks and brokers OF this city
are sufferers in limited way, IN various amounts,
ranging from $500 tO 5000. All the frauds were
not accomplished by forgery. Large amounts placed
IN the hands Of Woodrnf as guardlan-macl Uf 1t
being borrowed by him OH false representations,
ana Obtained by breaches OF rustwere also spirited
away. Among the losers ! tlnd that The Peoples .
savings Bank suffers to the ttine Of $1,000 certain
ana probably $4,000; the First National Bank 5000
oniJ-another note It holds for 900 betng genuine;
spence, brokers', 5000 Mr. i. A Krise, broker. has
had An attachment Of 1890 levied on WOodrun's
rum brothers OF the alleged f0rger, lose 5000;
Richard Mathews, $500; Mrs. Breson, $4,000; Lee,
Thayer d Co., $l,5OO, and case OF
PECULIAR HARDSHIP
IS that OF Mrs. George w. Lee, who had loaned
Woodruff Sl,4oO. the savings OF years as boarding.
house keeper IL ls impossible to say how much or
tho amounts already ascertained and believed to be
lost was realized on genuine endorsements, or now
many and what amount OF the notes gwen are spu
rIous. Tie farm OF the iorger In Amherst county,
which IL admirably improved, has been levied Oh TO
viOus mortgages on It to a considerable amount
probably to the full value OF It, meeting OF the
creditors OF Woodrun was held last night TO ascer-
tain the actual status OF his financial transactions,
at which proposition was submitted py his
brother
TO ASSUME THE PAYMENT
or $4,000 TO the creditors In ten lnstaments bear
Ing ELK per cent interest, provided they
would relinquish all claims whatever against
the IOrgcr aud against woodruff u Co. In
the event this proposition is declined then
the brother proposes To surrender all the
property OF every kind belonging to each OF the
Woodruns. the creditors to give full release, but
TO be retained. A committee was appointed 10
ascertain the entire Indebtedness and report to the
creditors.
A SUSPECTED TRANSACTION.
Among the alleged forgeries many Will startlc the
people mere still more II discovered aud confirmed.
the infant heirs VI Samuel Mler deceased, six IN
number, ana MIR. Miller III his will bequeathed tC
them about S!0.0JO each. lhc legacy consisted
principally or coupon bonds, ana 1t has not ye
JransplIcd whether woodruff has tampered with
them, as he did with all other moneys that came
enormous. The affair causes uni. ersaI regret here
on account or the high and honorable position OF his
relatives IN society, though OF course, no reproach
can attach 10 them.