The avant courier. (Bozeman, Mont.) 1871-1872, 1872-06-06

II
j Since the days of young Ketchun y fraud
--hyt he way where ii young Ketchnm now
i Wall street has had no really first-class ven
satiop, with the exception Of the ]. Blarl
II Friday" panic. A few days since, however
II trxnspired that young man, named 81
4 more Davis, q junior partner &C the firm 9
i Davis Il Gilnn, ore door from the corner D
WalIand Bread, had been regularly engage
during several months ii raising money D,
securities which did not belong 10 him. al
has bean said. Davis held q small property
Einfereat in the firm of which his father WIN
senior partner. Mr.. Davis, senior, Ii i gen
tieman well known on the street and In New
York social circles, living IN handsome styls
on Twenty -sevcnth street, and keeping hi.
his horses and carriage. His family consists
Of himself, wife, twodaughters Tone Of whom
! was to have been married next week anu
one son, the young man spoken Of.
For the past two years young Davis has
led very fast life. having, besides two fast
horses and the 81 cetera Of fashionable trivoll-
ty. share III private theatre situate up
town. In these ways his money- liberalls
supplied him by lis tather-has gone, and
the money ot others with il.
The first intinaation OF the crash was some
six days ago, when . prominent Wall street
man. residing in Brooklyn, who held some
S35 900 worth of securities from young Davis,
drew upon the firm in the ordinary course of
business for the money. 1t so happened that
the real securities. IN the possession OF an
other banker Ind that same day been pre-
scented to Mr.. Dunn. the second mem Der OF
the firm. An advertisement ellsued. and II
was speedily discovered that the securities
were forged.
..Who did yon get them Of r. asked old Mr..
Davis.
Il .s.Yonr son sir. = replied the broker.
my son John. Impossible!
But It was not only possible but true.
John Elnore Davis was on that day engaged
with friend tut OF the city. He had not
TIL. rt.motest idea that his crime was discUv-H
cred. and lid hot Return home I'll Twenty
seventh street till late. Arrived there, he
found his poor old failier. who had borne III
honorable rsf utatian in " all street fai 40
years, sitting up for him The young man
was slightly intoxicated. bat the hitter re
nrnaehes Of his father soon brought him to
his senses.
But The worst was not yet known. Thirty
five Thousand dollars was small drop in the
financial bucket. The rext day fresh frauds
were discovered. amounting. including the
forged securities, to ovrr quarter of million
Of dollars! The broker who had held the
original $50 900 worth OF securities had frirn :
who also held securities. Obfaineu from Young
Davis, and the moment the whisper went
around that they were mot good. q the Office
Df Davis u Gum was besieged Ii II stated
hat no fewer han thirteen prominent houses
ii Wall street were bitten, and every one de-
.larrs that 1t was TIL; reputation Of the house
ind not of young Davis himself that led to it.
The firm Of course, became responsible for
he whole amount Of the frauds. and to the
credit of human nature be it said that Mr..
sunn, the second partner. expressed his will |
nglsess that the whole of the losses shall fall
Upon the house, the partners should share
like in supplying the deficit. Mr. Davis.
lowever. would not hear Of 1t. II Is SAID
hat when Mr.. Gum made this PROPOSE ion
lesdeclaredfhat so long as his private fortune
would hold ont. he would ''ponyup himself Y
Already over 100000 Of the debt has been
wiped out, and Mr.. Davis EXPRESSES his will
ngness to deem the whole of the forge! |
ecurities within three months. The young
nan has nadea full confession, and Ills II is
eported. departed for Brazil. Atalleyents,
e has left New York, leaving behind him 4
-gacy Of fraudulent debts and arnine. home.
~. r. Star. t..4-