The sun., 1873-10-15
WASHINGTON SHOCKED
sHODDY STOPPING PAYMENT.
The Attempt to Garry the Cookes-Dower
Rishis ani False Prctcnccs- s-Downinli Of
Ring Institutions-The Freedmen Pluckcd
senator stewart Of Nevada stops.


wAsnrNGroN, Oct. 13.-In spite OF all the
falsehoods OF interested and subsidized news
papers. such az exist here, the last scheme OF
jay Cooke Il Co. to evado proceedings In bank
ruptcy begins to be understood aud appre lated
as a new deception. The flourish about their
wives rerouncing dover, "a an evidence ofinten-
tion to surrender more than the law gives to the
creditors, Il an lmposture, quite in keeping with
the wilful swindling practised In the sales and
transfers Of Northern Pacific bonds. which will
be thoroughly exposed.
In the nrst place there has been no exhibit OF
real estate for the wives to renounce their right
OF dover In. At the best II Is not believed to
extend beyond the mere banking houses, upon
which liens already exist. In the second place
Jay Cooke, who is the head Of the concern. is
widower, and consequently no remuneration Is
possible In his case.
Whether his private residence near Philadel-
pha, which cost only three-quarters Of = mil
lion, has been covered with a secret trust exc
cuted years ago, like his brothers property here,
remains to be seen. As Jay was tho trustee of
Icnry's concealed deed, only brought to light
ten days ago, after seven years Uf secrecy, suspi
clon IL fairly excited.
Henry ID. Cooke has not dollar Of property
standing In his own name. 1t was all conveyed
to his brother for the benefit OF his wife long
ago. Hence she has no dover to renquish un-
less the Courta should set aside the deed OF
trust as a concealnent to defraud credit and
then her alleged rights-as she Joined In the
deed to jay Cooke-would not be worth much.
Bosides, Mrs Cooke IL In Europe with her chill
dren, enjoying the ease and good fortune Will
seem to be the lot OF many broken bankers. Her
husband will, perhaps, receive a diplomatic ap-
polntment IA things go.
II the whole truth should he told, u would
probably turn out that the other members OF the
Drm represent no more realty than the two
brot hers just mentioned. Therefore the pretence
Of their wives surrendering anything valuable Ia
not only a sham but an outrage that deserves
stern treatment.
To appoint T.. A. Rollins special trustee for
the Cookies would he substantially the appoint
ment OF one Of themselves. lie has been con-
nected with all their operations In Congress.
The so-called National Life Insurance Com
pany Of the United States." OF which Rollins
ofaciates as the chief manager, was n creation OF
the Cookies, and gotten up a. one Of the many
auxillaries TO Goat their speculative banking. 1t
had branch In this city, very appropriately "in
the rear Of Jay Cooke & Cos" a. the Directory
states. The last list published here. though not
the latest in fact, tells tue whole story. Look
at II:
President. Clarence II. Clark Chairman FL
D
Vice-Prcsidents. Henry d. Cooke and f. A. Roll
lins: Directors, Clarence II. Clark, banker; j.
W. Ellis. banker; J. Hinckley Clark. banker; (;
/ George F. Tyler; ". q. Moothcad, banker; r. A.
! Rollins Henry ID. Cooke, banSer; w. f. Chan
/ dler. ex-Assistant Secretary of tho Treasury {;
/ John D. Defrees, Edward Dodge, and L. C..
/ Fuhnestock, banker.
These names show that this company belonged
! to Cooke, was run by Cooke, and that Rollins.
who now figures as its President, aud who Ia
! yronered "a trustee, is nothing but mere hired
agent and instrument OF Cooke. As the conf
pany will soon pass into new hands, OF course II
would be very convenient for the Cookies to
avoid bankruptcy and make Rollins the medium
of saving their rottenness from exposure.
Since 1t has become evident that the National
| Metropolitan Bank OF this city must either 20
! go into bankruptcy or be Immediately recon-
| structed, plans have been formed TO continue
the Ring ascendancy which has brought II to
| the very verge Of ruin.
There are nine directors. but tho real power
has been exercised through J. W. Thompson,
! 4. II. shepherd, Nicholas Acker, and j. B
Blake, President. Moses Kelly, the cashier, has
acted for them az the business manager AMI
Tor himself mainly for the Latter.
j. W. Thompson was formerly successful
plumber. who acquired property and became
I
rant, low-bred, and arrogant he was the proper
person for Shepherd to serve as an apprentice
such was the school In which the present Gov
ernor of this District graduated.
Thompson Is connected with n net work o
city railroads and other projects that do no
pay, and which the Territorial Gov rnmcn
could materially damage by opposition, or aio
hy favor. A tho chef Of the RiHg, Shepherd
has hal it In his power to control this innuenc'
for good or evil, and thus has secured the sup
rort Of Thompson In his discounts at the bank
The former master ami the former apprentc,
/ played into each others hands.
During the recent excitement and before tn,
bank shut its doors, Thompson assumed I,
bully the depositors who only asked for thei
own. After taking care to protect himself, h'
seemed to think II a crime that money shoul,
be drawn out OF his broken bank, which ha'
squandered its resources In the spec ulatons y
shepherd and Kelley.
This Thompson Ia now n candidate for Presl
dent Of "a new organization, and he has bee
seeking proxies in Maryland and elsewhere
+ while his brother has been drumm NJ the cit
, for the same purpose. They have gathered In
good many, but II tho experiment be tried III
Institution goes into bankruptcy. lie il mem
Der of the Legislative Council, and connccte
with the Ring. Being thus tainted, conndenc
, can never be restored with him. There must b
a clean sweep or else final close OF the bank.
There s a nre insurance company called tn
National Metropolitan" which may be regard
% ed as a branch Of the bank, that Is doomed froI
@ Its associ ttion and almost Identity. The Pres
D | dent is Moses Kelley; Secretary, Samuel Cross
r. and Directors Moses Kelley, j. II. Blake, "
e wall, w. q. Metzerott, @. +. Gulick, A. II. SheI
herd, Charles Just, and j. T. Lehman.
Policy holders may well open their eyes whe