The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-12-17

Two Msilier aeeast.rs Poekesed by ahe1
Inventors OF the diamond Fraud. q
lFrom Che san FraneAsce chronicle.

from the San Francisco Chronicle.
The company was Incorporated, trustees
were appointed, they called q meeting. elect
Ell O president, secretary, treasurer, and st,.
ncrintendent, and the stock was apportioned
IL was then ordered TO be issued among them
selves, and the entire stock was placed In
fsalston's hands. with tho exception of five
shares each. which the trustees were obliged
To nave to enable them TO act rs trustees. All
the stock OF the company that had ever been
sold-about twelve thousand sharcs--be.
longcd originally 10 Philip Arnold. and was
purchased from him by the incorlorators
Fifteen thousand shares were bought in New
York of Arnold at $40 per share, making
100000. by Ralston, Dodge, Harrmnt,ing
Lent, and Roberts. They afterwards sold il
for $40 per share, the profits, $4,000, being
divided among them. Besides this, Arnold
sold Lent $3.50 shares Mt $40 per share, re.
cciying his pay, s2j0,00o. in gold coin.
The company was then organized with
100000 shares Of the value of 300 each, or
q total value Of sl0,000,000. The whole O!
the capital stock was issued. or this stock
$4,000 shares was held by W. C. Ralston for
the shareholders. whoever they might have
been. But $4,000 of it was sold, this being
The stock purchased by Latham, Gansl. Sloss,
and others. This was ali the stock that was
sold, or il any more was sold, it has never
been given into the Office for transfer on the
company books.
William NJ. Lent has paid out over $780,
600 cash, which, of course, is 4 complete loss.
He had never seen the grounds, and invested
solely OH his faith in Janin's report and the
stories circulated by others. William c.
Ral>ton comes next among the losers, having
advanced S25o.0Oe to help make the payment
to Arnold.
The following gentlemen purchased stock
for the amount set opposite their names.
AS The cash was paid in every instance, the
money is a total loss: Nj. S. Latham, $50
900 {; Michael Reese, $4,000; John Roscn-
field, $4,000; Louis Soss, SAC, 1000; Maurice
Dorc, $4,000; Thomas Sunderland, $4,000
ID. ID. Cotton, $4,000; J. w. Gashwilcr
$40, 900 Charles w. Lightner, $4,000; w.
+. Babcock, $4,000; Il. Parrot, $4,000
Albert Gansl. $40. 1000; Mr.. Hooper, of Cross
& Co., $4,000.
The amount swallowed up from Harpcn.
ding, Roberts, and General Dodge is not
known. but they all three are heavy losers on
paper. The probabilities are that their loss is
not much 1t may be just the other way Be.
sides the above the New iorkcrs-Sam. Bar.
low, General Mcclellan, and others-losC
about 100000. Arnold owned $4,000 shares
Of stock, or onc-foIrth ofthc whole stock. He
realized on The sale of it in gold coin from
victims in this city at least S550,000, besides
what he may have sold elsewhere. 1t is said
that he has only 1000 shares of the original
stock left. Arnold is now supposed to be in
| Kentucky. He has been on the frontier nearly
all his life, most otthe time during the last few
years in Arizona. where he has been mining
but he came originally from Kentucky. 4
short time after Janin'S first visit to the re-
putcd diamond regions Arnold went to
| Kentucky and secured fifteen negroes to go
back and help work the ground. When he
| got to Denver with them he found he was
being watched, and remained there waiting
for an opportunity to slip of unobScrved
| he waited there about two months, and
! then be was ordered by the company to dis
| band his men and give up the expedition
He did 50. and afterwards came to san Fran
cisco when tclcSraphcd for, remaining but 4
shoyt time, and then going East. lie ha,
borne the reputation Of being sharp, Shrewd
INSCRIPTIONS fellow, and yet, with ali these
| qualities. he has never been known until re.
Gently to have any money. He isn't troubled
| on that account now.