Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-07-20
Another De3aultiug Bank Officer six
Hundred Thousand Dollars ,.a.:r--
The Defauiter 4 Suicide.
Tie Late University Regatta Dec sion
By the Umpire -4uesada Arrived
Utica's Death by Poson-
Etc, Etc, Etc.


three hundred thousand dollars of the
funds of that institution upon doubtful
securities. 1t is said the account Of T,
ii. ROdman, the secretary of the Brook
lyn trust company, is short thirty-fOuT
thousand dollars. For the latter amount
the company holds collaterals, but
whether they are good or not remains
to be determined. The defalcation was
not definitely ascertained until yester-
day, when it was brought to light by an
investigation instituted by the directors.
Not only did they find that Wells had
overdrawn his personal account,
out they also discoV cred that
he had taken worthless securities
for the sum OF $500, 900 dollars, so that al
together there was an inroad of $3.50, OOC
made on the capital stock Of the com
pany. The securities in question are
from the State of Georgia and New
Haven, Middleton and Willinantic
railroad company. On the former Wells
had loaned $50, 900, upon the latter
s200,O00 of Bullock's bonds, which it is
claimed were illegally issued and inter-
est on which the present authorities de-
cline to pay. Whether the railroad
bonds will ever become worth much is
q question. In the meantime, simple
facts are, while the capital stock is five
hundred thousand dollars, there are over
three hundred thousand dollars in una
vailable bonds. The deposits on hand
we're about two million three hundred
| thousand dollars, Of which about four
| hundred and fifty thousand dollars be-
| lOnged to the city, sixty-eight thousand
1 dollars to the county and four hundred
| thousand dollar to Mr.. StilIman, of the
firm of Barney, Butler & ParsOus Of this
| city. Mr.. Stillman represents, as de-
positor, several trusts, among them
| the funds OF one or two collapsed insur-
ance companies, Of which he was re-
| ceiver. Eight directors made
/ they believed it entirely posi-
bic for the company to continue business
in few days, and that the depositOrs
| will lose nothing. Daniel Chauncev has
been appointed receiver. The Union
| says: "Since the recent developments
in regard to the affairs of the bank,
many persons who at first believed that
Mr.. Wells met an accidental death, are
] inclined TO the opinion that he commit
| ted suicide rather than face the eX-
| pOsuTe which he saw was inevitable
The Telegram has the following: ''This
| evening Telegram reporter was in
| formed that upon further investigation
of the committee to-day it was found
| that both the capital and surplus of the
company, the former S50G, 600 and the
latter $3.50, 600 have been almost obliter-
ated, and that the losses Of the company
by defalcatiOn Of the president and bad
debts will exceed $500 900.
A Vienna special states that Hiram
GarrettsOn, of Cleveland, Ohio, has been
appointed chief American commissioner
in place of Jackson Schultz, resigned.
and has entered upon his duties.
Several important tax records of Brook
| lyn are missing. and are believed to have
been removed by some of the late ring
20 cover up former errors.
The flooring Of the Presbyterian church
in Hudson City, New jersey, gave way,
during an entertainment Thursday
night, and forty children were injured,
some seriously.
Last Thursday the parents of Utica
Brooker called on a lawyer and said they
had reason to believe that their daugh-
ter, who died July 7th, had been poi
soned, and that they suspected physi-
| eian who attended her of being guilty
Of murder by his knowledge and con
nivance. Colonel Blood, Mrs. Wood
hull and Miss Clafiin stated that the cir
cumstsnces of their sisters death were
suspicious, but refused to join in the
story Of poisoning. The lawyer de-
ellned to institute an inquiry before the
grand jury.
John O. Babcock, umpire in the late
csllege regatta, at Springfield, publishes
card in which he SAYS: at is proper
that the public should be informed of
certain facts, which will explain the
confusion that resulted in determining
he actual winner. The score or finish
ing line instead of being located at right
angles with the river banks, as it should
nave been, was by carelessness or stu
pidity on the part of those who located
tt, placed diagonally, the east end of
line being some one hundred and fifty
yards lower down the river than the
west end, where the judges were request
ed by the umpire to station themselves.
By this arrangement boats arriving at
the east end Of the line, which was
some two thousand feet long, rowed a
proportionately longer course than those
omlng in on the westerly shore. Had
the line been located properly at right
angles with the course of the beats the |
result would have been entirely differ |
ent, and the race decided on the merits |
Of the crews instead of on chance of DO |
sition Of crossing line, two points OF |
which were equi-distant from the start. |
Fhestarting out of the course or changing |
the same was wholly with the regatta |
committee, and not within the province |
Of the umpire, who supposed it to be |
correct. Reports of the eleven judges |
eieotod tn serve will be reeaiyed in q few |
days, and the positions of the seven
boats not placed will then be an
nounced.n
General Queseda, brother-in-law of
President Cespedes, confidential agent
of the Cuban republic, arrived here yes
terday, bearing dispatchesto to the Col0m-
bian minister at Washington concern
ing Cuban independence. He states
that fifteen hundred troops have been
promised from Mexico; that Peru will
probably soon render assistance, and
that arrangements are being made for
holding at Washington a conference of
representatives of all the South Ameri-
can republics to promote Cuban inde-
pendence.
Tue Post, in its latest edition, contra
diets the statement made earlier in the
day that Drew manipulated corner in
Erie, and says it is well understood that
nearly all the stock is held in Europe,
principally in London. Since the re-
cent election, it has been the disposition
to sell stock on the part of English hold
ers, and they have, the price being high
er here than in London, sent over orders
to sell in this market. Their brokers
have executed their order, selling in ad-
vance Of the arrival of stock, and trust
ing to their ability to borrow it for de-
liveries from day to day. The result is
that those few German banking firms
who held Erie here availed themselves
Of the situation and refused to lend their
stock, or to sell it,except at high price.
They have the power, and probably
will keep the ''corner" up until the
steamers arrive having on board the
Erie stock recently shipped here from
London.
The mortality report for the week
shows an increase of over twenty-nine ]
per cent. in deaths as compared to last
week.
A game of baseball, for the benefit of
the family of the late Mr.. Kelly, an at
tache of the Herald, was played to-day
between the Mutuals and Atlantics.
The two mines changed catchers and
pitchers for the occasion. The ATTAIN
tics won, nine to six.
-
The shah and suite left Paris yester-
day on special train for Geneva.
a-4-S ,
The races at Long Branch Yesterday