Delaware Republican. (Wilmington, Del.) 1843-1874, 1873-07-31

"TnE RArmnuN Thirty five
years ago, the above mentioned operations were
as widely known throughout the country as the
"Credit Mobi,ier rauds" are now, and created
as much excitement. Though almost forgot
ten the memory of these transactions has been
recalled by the dea'h on July 21st, at Fort
Washington, n. Y, Of "Rathbun," aged eighty
two. The New York Tribune of yesterday
gives AN interesting account Of Rathbuh and
his financial operations, which we republsh ;
Benjamin Rathbiin In early life removed
from Chenango county, N. y, to Buffalo. He
became proprietor of the Eagle Tavern, and by
cleanliness, order and discipline made 1t famous
among the hotels of tue country. Extending
| his business he became interested in lines of
stages between Buffalo aud Albany, and started
+ the noted Telegraph Line, fer sA passengers
only," which was run at a speed higher than
| hal been previously attained by coach in the
| United States, and made for it a name among
trAve Hers from the West. But hotel keeping
and staging failed to satisfy his ambition. lie
embarked in speculation. Lots without num-
Der At prices without limit were bought, and
dwellings, stores and warehouses were erected.
For tic first time in the history OF the State q
fever of speculation broke out, which, for uni
versatility and wildness, has never been APP
preached by any other city in the Union. Rath.
bun was in every thing; nothing daunted him
lis example was SO infectious that the graves
L
lrtH the vor.z and in II night made fabulou:
fJnUnes-On paper.
lie plan OF his iolgerles was as ingenious a,
ii was original. TO certain parties lie woult
propose to buy certain property, or bnild ce
tain structures. To raise the neces sary fund.-
with which to initiate the enterprise, he woulC
, make his note for five thousand dollars payable
in New York city NJ three or six months, aut
ask the party whose interests were 10 be promo
ted to indorse the same. The Endorsement OBJ
tanned, he would resort to his counting room
and make from ten to fifty notes, Of the sam,
, date and amount, payable at the same time ant
place, and his clerk, an expert penman, woul,
forge the Endorsement. 10 such magnitude
had these transactions grown, that regular Of
flee was maintain i'll New York city Tor tin
t purpose OF negotiating the pape the manage
being his nephew. During the few years tina
the fraud was kept up the amount negotiated
reached millions of dollars. At length one o
1 the five thotIand dollars notes, bearing tn
, forged irdoifo uent of the late David e. Evans
then agent of the Holland Land Company Ii
Batavia, was protested, and notice sent to him
Mr. Evans paid the note, but Oh examining TIN
back found TO his dismay that his signatur
/ had been forged. True, lie had indorsed a not
| of that date, and for precisely that amount, bu
it was not this one. Investigation followed, tn
plot was discovered, and the whole iniquty eS
posed TO light. Rsthbun was arrested, tried d
: Batavia, convicted, sentenced TO five years j
the State Prison, and served out his time. Sui
n seluently he came to New York city and opeI
ed hotel in Broadway, near Cortlandt stree
n but was not very successful. Afterward Il
i kept for some years a small hotel at the cornt
of Broadway and Forty-third street. OF all u
a millions that had passed through his hands, i
!, lie yer put away dollar for himself, nor coul
n he at my time have called himself the hone
n possessor of fifty thousand dollars,