Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1873-02-13

While i'll the confidence of our bankers
he represented that Henry L. Smith, a
distinguished Western fnancier and CAPT
talist, was his partner, and so complete
ly had he won the confidence of his nu-
merous friends that his story was believ-
ed, and the endorsement of the mythical
s'Henry j.. Smith" brought thousands Of
dollars. When the notes of Cree came
due he presented others, and when these
finally went to protest he made such rep
reservations that a settlement was delay
ed until he could hear from his ''agents"
in the West. On small sums borrowed
from farmers and others he paid extrav-
agant rates of interest, frequently re-
turning the principal some time before
it was due, pretending that he had too
much money on hand. Winning the
confidence of the lenders in this way he
would, it is said, on the next occasion
borrow all that would be given him, and
then payment was not thought of. He
was, four years ago, thought to have
been worth quarter of a million of dol
lars, and he borrowed money to pay the
tax on pretended enormous income,
and he was then rated by commercial
agencies as "a No. l. He was for
years Postmaster and made this position
conducive to his speculative plans. In
credulous ones were told that if Tom
Cree was good enough to be Postmaster
he ought to be trusted. Within year
the bubble has burst, and to-day hun
dreds of rich men are made poorer, some
of them almost penniless and hundreds,
yes, thousands, of poor men, as well as
widows and others, find their little bank
accounts in the hands of the absconding
speculator. The banks are heavy losers
by forged notes, mortgages, etc. The
banks at Poultney, VT, Whitehall, Gran
vile, Fort Edward, and, it is said, one
New York bank, suffer. The losses to
banks alone foot up fully to $3.50, 900,
and not less than $150,000 is due to far
mers and others. His accounts as Post
master are now being investigated by
Detective Spencer, of the Postal De
partment, and it is generally believed
that they will be found in surprising
condition. A peculiar and distressing
| feature of the case is the fact that his
early benefactor, Mr.. J. II. Northrup,
of this place, who had always reposed
implicit confidence in Cree, is almost
ruined financially. The operations OF
Cree have swept away handsome com
potency which Mr.. Northrup had few
years ago. He was a heavy cndorser fol
Cree, and stuck to him till the last mo-
ment, saying, in the end, when the full
wreck of his fortune was revealed,
"Well, Tom, you have at last sent mt
where | took you from" Within a yeal
the allegation was made that Cree haC
taken to drink, and that before his sud
den disappearance he was evidently en-
deavoring to drown his sorrows in the
temporary oblivion of intoxication. Il
has been asked what became of the i'm
mense sums of money which he receiy.
ed His fast life consumed everything
His personal expenses exceeded 1926, 00(
per annum. He had the fastest horse
in the country, and was the most liberia
man in all things. He was known Of
all, and liked by all for his open-handed
ness and liberality on all occasions
Some time ago he erected a costly mOnu
ment in his lot in the cemetery--so cost
ly and magnificent that it was an objec
of attraction to visitors from the city
Cree is supposed to be ont West, specu
lating again. He is about thirty-fvC
years of age, light build, blue eyes, anC
not of an impressive appearance. 1t il
reported that he was seen last week il
Essex County, where he was travelling
under the suggestive name of ''Shift.
The correctness of this is doubted II
conclusion | need only state that M
event in this section has ever created Sc
much feeling, nor has ever any other eX
perience been so costly to the people no.
better lesson taught. The credulou
creditors of Cree acknowledge this Will
shame.