The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-17
NEW YORK HERALD THURSDAY IT,

tainly be no novelty as to Wall street dongs 1t was
not very well substantiated. The main tact which
ners Of Jay Gould, were the only parties who con-
sstently bought up all the Union Pacific they
part to protect the stock and keep 1t up in valne.
4 only he Is able to carry such an immense amount
There is little doubt but what he Is, however, If as
reported, he is aided by Horace +. Clark.
THE STORY OF CHECK.
On Tuesday afternoon Messrs. Barton y Allen
gave the firm OF Fearing 4 Delnger check, some
say Tor $4,000, while Mr.. Dellinger himself says
that II was only for trivial sum. This check was
deposited in the Bank OF New York at too late an
the Clearing House, says Mr.. Dellinger but was
returned TO the firm yesterday morning, about
This singular story. while being perfectly true,
raises the grave question whether the Bank OF New
check. Mr.. Dellinger seems to believe that the
bank! bank certainly is responsible, ana many brokers
AN INTERVIEW WITH MR.. BARTON.
Yesterday afternoon, some time after the aiiure
had been announced, HERALD reporter called ut
the office OF Barton Allen. Mr.. Barton expressed
perfect Willingness TO see the reporter.
"Sorry to trouble you, under the circumstances"
saia the reporter but as there are Thousand
house IT was better to get the thing right than
wrong"
in the matter" said Mr.. Barton.
"What was the cause OF the ailureW
"Well, we were overloaded with stocks and
thought we could carry them; but the strngency
OF the money market has been too much Tor us and
we were obliged to 1ail.D
us the report true that Mr.. Richard Schell was
the gentleman who forced you into this. you
having great amount OF his stock on handr
mo; the report Is iase The fact Is that Mr..
Schell was not even customer OF ours, and we did
no business with HIM whatever"
'Then were the stocks you carried entirely on
your own accountYr
mo; we have had several heavy customers who
are interested In the matter but we were also very
heavily interested ourselves in Union Pacific
Western Union, ohio and other stocks, and are
heavy losers. 1t Is no use concealng that"
"The street, Mr. Barton, seems to think 1T very
strange that Commodore Vanderbilt did not stick
BY y yo snnnose Won know he il relation Of ours
II Mr. Vanderbilt had stuck by us we shouldn't
have failed. But he would not"
"Were you dong any business with him ?"
"NOne whatever, lately"
.'Can you let me know the names OF the customers
who were to some extent the cause OF the down.
fall ?"
l. .This is q matter of confidence which dare not
violate"
"What hopes have you Of recovering from this
blow Yn
| ave can't tell as yet. 1t depends altogether
upon how the other brokers treat us. II they are
willing to accept settlement OF SO much on the
dollar, / have no doubt we can get on our ieet
agall but II they exact to the last cent l am
afraid we shall not recover.
"Do You know what will be the basis of your
settlements"
u do not. we shall have to go over all our
books to find that out.n
"Do you know what are your liabilitiesr'
81 have not the slightest idea. 1t VIII require
extended examination before we can tell"
office to learn any particulars he could give Of the
affair.
INTERVIEW WITH s. W. B0OCoCK.
Mr. Boocock said he knew 1t was false that
Richard Schen had been ct ali instrumental IN the
| downfall OF Barton Allen. Richard Schell traded
with him. and, instead OF losing had come out
about six per cent ahead on his speculatons at the
panic. Mr.. Boocock said that the reason Mr.. Van
derbt did not help his relations was that he cared
no more about his relations in business than
/ he did for any one else, and that, though he
had done business with Barton y Allen,
he disllked their speculation. This, said Mr.. Boo
cock, was simply what lie had heard. lie believed
| Messrs. Barton II Allen would be on their feet
again shortly. They were both gentlemen of means,
and had money outside OF their business. He
thought that the panic would be generally very
beneficial to Wall street, and would make money
| easy hereafter but that the tlme when money was
| usually tight had gone over, and that now the
country settlements were through plenty OF money
| would How back to Wall street. lie thought the
amount OF currency was too little Tor the business
| OF the country.
! Several small failures in the street were an.
| nounced yesterday. G. III. Otis, ii. A. Foster and
H. Morse failed during The afternoon, and ior
small sums it was supposed. They are tied
among the ''nabituas," and their failures caused
no excitement whatever among the tnanciers
Barton X Aliens liabilities are reported to be
/ S20o,0O0