Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-08-17


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We CLEAN from the Louisville Courier
Journal of yesterday further developments
touching the great financial move Of At
wood, whose frauds have been previously
chronicled. That paper says
The loss of money is not the darkest fea-
ture of this astonishing case. It is now said
that not only did Mr.. Atwood forge indorse-
ments on his paper, dispose Of stocks left in
trust and Appropriate the money, use reck-
lessly and criminally the names Of the firms
in which he was partner, betray his off,
cial trust, and obtain money from the banks
upon other false pretenses, but that be also
ssraisedn paper which he wished to nego-
tate, from q small amount to sum more
commensurate with bis demands. 1t is
truly dark, sad catalogue for which he
will, one way or another, have to answer.
But through it all the sympathy of the COM
munity With his stricken family is constant
and sincere.
The amount of Atwood's pecuIation, as
far as can be gathered, will prove but a
triHe. if any, less than half million.
Many of the losers are, for some reason,
10th to state the amount of their losses,
but the following approximate the truth:
Citizens Bank, $4,000; Northern bank,
$4,000; Western Financial Corporation,
SIS 600; Louisville Insurance and Banking
Company, SIT, 900; First National, SD, 900;
Planters National, $4,000; Peoples, $10,-
600; Bank of Louisville, $4,000; German
Security, $4,000; Falls City Tobacco
Bank, SIS, 900; City National, $1,000; Ger
man Bank and Ins. Co., $50, 900, probably
considerably exaggerated); Bank of Ken
lucky, $4,000; Bank of America, $1,000;
Kentucky National, $500, Central Savings
Bank, $1,000; Farmers and Drovers' Bank,
$4,000; Manufactu: ers' Bank, $50, 900,
(probably much exaggerated); Shelbyville
Bank, $4,000; total, $360,500. 1t viii be
seen from this list that the Kentucky Ma
tional Bank suffers more lightly than the
rest. So
To these may be added number of in
dividuals who lose about as follows: A. o..
Brannin, Sc, 600; John Long, 81 900; b.
M. Messick, $11, 900; DR.. Lewis Rogers
$4,000, and the Union Insurance Compa-
nv $4,000. Total $68,0Q0-m making a
grand total of S42S,500.
Besides these, there are many others
whose losses are not known; among them
G. w. Norton & Co., A. D. Hunt & Co.,
Charles NJ. Thruston, Miss Thruston, etc.
L
ever, or which Atwood & Nicholas were
agents in this city, win suffer by Mr.. At
woods financial endorsements. On the
first of August full statement was made
with the companies, and accounts all
squared.
The firm of Schoeffel & Co. is seriously
involved. .- , -s---. - ---.-..--..
All persons involved in the affair viii be
| II,
and every opportunity given to work out OF
the difficulties into which they have been
50 suddenly and innocently thrust by their
misplaced confidence.
1t is said that among Atwood's transac-
tions it has come to light that number OF
Gas Company bonds left with him bY his
fAther-in-law, DR.. Lewis Rogers, some time
ago, when the latter went abroad, wele
sold by Atwood and the money appropria-
fed to his own use; aud that in order to
keep DR.. r. from discovering this breach
of trust, he had been regularly paying the
dividends on the bonds ever since.
It is also said that large number OF
bonds of the Union Insurance Company,
of which he was Secretary, were sent in to
be exchanged for new. The new bonds
were issued and the old ones we're laid aside
\
authorized to cancel them. But instead Of
doing so he hypothecated them for loan
of $4,000, which was swallowed up in hi:
operations.
The draft received from New York an
nouncing the deposit of $4,000 to hi:
credit in a bank in that city, and agains
which he drew drafts TO twice or thrice
that amount, turns out TO have been genu
/ Ior In
York bank before the money was actually
rendered that institution to meet them, anC
being so much in excess of the amount tht
bank refused the deposit. What became
| of the funds we are unable to say.
During the four or five days preceding
the exposure, Atwood procured from thu
banks in this city, on sight drafts, abou
100000. He paid no maturitieS; he ma0t
J no important Investments as far as is known
vet no money of any consequence wal
, found on his person when arrested. Tit
question is pertinently asked: What did ht
do with Lhe funds? Where are they at thli
tine? fass..
This affair has been one Of the most start
ling and is pIooably the most extensive Sc
ries OF frauds ever committed in tbs com
munity. 1t has scattered loss and ruiz
drOuuu bu0 SNH PAU VI iAO SLAGg Aah
brought distress to the families of some o
his victims as well as anguish to bis own
1t has given our monetary circles shocE
from which they will be GONE time in re
J covering, and it will be long before entir'
confidence is restored.
The case is indeed sad one TO contem
plate. One who was extremely honoreC
, and trugted, with every moral and religious
tie to bind him to the right, after series o
enormous but well managed frauds, find
exposure burst upon him like the clap G
doom, and is suddenly hurled from hi
high position, disgraced aud dishonored
and, if last nights report be true, now agaiI
fugitive from the scene of his misdeeds
His fraudulent transactions are said to b.
mainly comprised within the last fOu
months. In that time he has lost or mad
, away with about 100000. What became
> of ii? Did be lose il all in speculation
These are questions that arc asked on al
sides, and as yet there is no satisfaction
answer.
Atwood was deacon in Rev. Gilbert II
, Robertson's church.