The New York herald., 1873-05-01
TAINTOR ECLIPSED.
Philadelphia Banker Makes
Away with 100000.
The Mania for Fast Living Invading
the Quaker City.

PHILADELPHIA, April 80, 1873.
Wall street may congratulate itself on Its fre.
quent irregularities" and think In Its egotism
that bankers, bank officials aud operators outside
Its precincts are too .smal potatoes" to merit
notice at Its hands; and in many cases Wall street
is correct, but the details OF the recent failure OF
Harrison Grambo, banker, OF tins city, throws In
the shade anything you have had In Wall street in
this line In some time, not even excepting the re-
cent exploit OF the tainted Taintor.
Mr.. Harrison Grambo was certainly ambiMous;
and, SO far as shrewdness at the expense OF prin-
ciple entities man to respect, so far Is Mr..
Grambo entitled to applause for the manner in
which he played his little game. IT. however, this
man congratuates himself on the present situa-
tlon, with his character blasted and his innocent
wife and family made TO suffer by his operations,
then he possesses nerve and elYrontery un-
equaled in the annals of villany. Mr..
Grambs began his career at the foot OF
the ladder; indeed, 1t is said that his
fathers funeral expenses were paid some years
ago by collection taken up by the old gentIeman's
former business associates, so reduced had the
family become pecuniarily. After the death Of the
elder Grambo
THE HERO OE THIS STORY
engaged in q mercantile business, but, ewing to
the popularity Of his method, it was not long be-
fore he found himself o wreck. His next effort
was in banking. He started out on large scale
at once, ana SO lar as assumption ana
could give mn nm tone ok ne ad "a I'm M But
kindly Philadelphia is not the place for q spurge,
aud any business man who ever undertook this
method In Philadelphia has, sooner or later, found
himself q dead cock III the pit
Grambo gave sneer. for sneer, and kept on In the
uneven tenor of his way, unmindful OF the steady
old burghers, who frequently prophesled his down.
fall In course Of time he fitted up his Offices in q
Rrincey STYLE ana " wandering siS were ere
interior OF the banking palace engraved thereon.
The counting house and the private offices, with
ingram iH NJ CARPETS, @ were therein displayed and
people who knew nothing OF the inside working OF
this wonderful institution said GrambO wasa
WONDERFULLY SUCCESSFUL MAN.
Confldtng lab0rers and clerks and working women
and farmers brought him their money to invest,
and always received the interest promptly on time;
but what Of the princpalp Echo answers, what
Mr.. Grambo's sisters were provided with a COM
Portable home. Grambo moved into Walnut street,
that locality SO dear to the heart OF Philadelphia
responsibility; costly pictures adorned his walls,
went on prospering with other peoples money.
Not content with possessing the finest offces, he
fitted up sub-ofnce in gorgeous style in the
ROOMS OF THE BOARD OF BROKERS',
| which was at once the envy OF the younger mem-
bers and an object of sarcasm to the older heads.
bo's onice was also in Walnut street-although
very fine, could hardly be expected to sufice Tor
the
THE PHILADELPHIA GOULD,
and he began to cast his eyes around for q more
palatlal building wherein he might organize O
! banking house without Q rival on the American
Continent. There is IN Chestnut street, between
Eighth and Ninth streets. a very elegant marble
building, formerly occupied by Bailey 4 Co.,
jewellers, and this building the adventurous
Gra,npo decided to possess. He sought out
Mr.. Joseph Tobias, the owner, and made bargain
with that gentleman. Mr.. Tobias agreed to ex.
pend $4,000 In repairs and alterations, and
The repairs were completed, and Mr. Tobias con.
graduated himself on the possession Of such q de.
sirabe tenant.
A few days ago, before Grambo was ready 60
to spread. An investigation proved the correct.
Of the rumOr, and 1t required but two or three
days TO ascertain definitely that GrambO had
failed for $700.OO0. man to whom he was In
debted for gardening went into the stable enc
night, and there found two furniture cars loaded
with household furniture, awaiting the flight or n
few more hours fer its removal to the house for
merly occupied by the Grambos few evenings
ago q crowd was attracted to the new banking
house to see an iron manufacturer remove some
iron work that Grambo had ordered. Two or three
more days elapsed, and the
F1NANCIER OF THE PERIOD
found himself arrested on three distinct charges OF
embeZzlement. Bail was furnished in each instance
but there are more charges pending, and Mr..
GrambO, from present appearances, has an excel.
lent chance OF verifying in his own person the
experiences OF one who suddenly finds himself
transferred
FROM A PALACE TO A PRISON.
Speculation desire to ape the habits and fOllles
OF men who can afford to crafty their wishes, and
ness seem TO have been the causes OF Mr. Grambos
DOWNFALL and the moral OF the story though plain,
will be commented on for a day, and men will fail
with other peoples money just the same as ever.
announced that warrant had been issued forcing
him into bankruptcy. His liabilities are $4,000
and his assets 100000. His residence cost with
the furniture, $120.000; but 1t is heavily mortgaged