The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-05-15

oo'ANNhd, Iuhy 14.-COttOn In fair
demand and firm-middling 22L; re-
ceipts 437 bales; sales 200; stock lG, S77.
MOBILE, May 14.-Cotton firm-mid-
dhng 22%; receipts 80 bales; sales 500;
PHILADEhPHIA, May 14-Cotton quiet
-middling q.
BosToN, May "A Cotton auiet-mid-
dnng ~; receipts 1,454 bales; sales 100;
stock $4,000.
NORFOLK, Nay 14.-Cotton oniet-lnw
stock 2,031.
A STARTLING STORY OF WALL STREET
LIFE. Since the days of young ketch-
INNS frauds-by the way, where is young
hetchnm now?-Wall street has had no
realiy hrst oast sensation, with the ex-
ceptlon of the "BIack Friday" panic.
A few days since, however, it transpired
that young man, named J. Elmore
Jaws, Junior partner OF the firm of
DAVIS Gunn, one door from the corner
OF Wall street and Broad, had been
regularly engaged during several m onths
past III raising money on securities
whlch DID not belong to him. AS has
been said. young Davis held small pro-
father was senior partner. Mr.. Davis.
senior, is gentleman well known on
the street and in New York social circles.
living in handsome style in Twenty,
seventh street. and keeping his horses
and carriage. His family consists Of
himself, wife, two daughters. Zone Of
whom was to have been married nert
week. and one son, the young man
spoken of.
For the past two years young Davis
has led very fast life, having. beaides
two fast horses and the et cetera of fash
lonable frivolity, share in a private
theatre situate up town. In these wavs
his money -liberally supplied to him by
his father-has gone, and the monev ri
others with it,
The first intimation had of the crash
was some six days ago, when a promi-
nent Wall street man, residing in Brook
lyn. who held some $35, 900 worth of
securities from young Davis, drew upon
the firm in the ordinary course of bust.
ness for some money. It so happened
that the real securities, in the possession
OF another broker, had that same day
been presented to Mr.. Gum, the second
member of the firm. An eclnircissement
ensued, and it was speedily discovered
that the securities were forged.
WHO did you get them Off" asked old
Mr.. Davis.
Your son. sir," replied the broker.
my son John! Impossiblel"
But 1t WINS not only possible, but true.
) Ohm Gilmore Davis was on that morn
Ing engaged with friend out of tho
CITY. he had not the remotest idea that
MS crime was discovered, and did not
return home to Twenty street
till late. Arrived there, however, he
found his poor old father, who had
borne an honorable reputation in Wall
street for forty years, sitting up for him.
Ihe young man was slightly intoxicated,
out the bitter reproaches of his father
brought him to his senses.
But the worst was not vet known.
$55. GOO was ANAL drop in the financial
Dncket. The next day fresh frauds we're
discovered, amounting. including the
forged securities. to over $3.50, OOOl The
broker who had held tho original S35, 900
worth OF securities had friends who also
held securities, obtained from young
DAVIS, and the moment the whisper
went round that they were mot good.
the oifice of Davis & Gum was besieged.
1t IS stated that no fewer than thirteen
prominent houses in Wall street were
bitten, and every one declares that it
was the reputation of the house, and not
of young Davis himself, that led to it.
The firm, of course, became responsible
for the whole amount of the frauds. and
to the credit Of human nature be it said.
that MIR. Gum, the second partner. ex.
pressed bis willingness that the whole Of
tho losses shall fall upon the house, the
partners to share alike in supplying the
deficit OLD Mr.. Davis, however, Would
not hear Of it. It is said that when Mr..
Gum made his proposition, hs declared
that 80 long as his private fortune would
hold out, he would "pony up himself. !"
Already over 500, 600 Of the debt has
been wiped out, and Mr.. Davis expresses
his willingness to redeem the whole OF
the forged securities within three months.
The young man has made a full confes.
sion. and has. it is reported, departed
for Brazil. At all events, he has left
New York, leaving behind him a leeaov
OF fraudulent debts and ruined home.
NeU Pork Star.
On Friday last, at the Southern Ban.
tist Convention, in Raleigh, DIR. Curry
kQ IL