The sun., 1873-10-07
SHEPHERD IN DISTRESS.
INTESTTGATING THE sUSPENDED
RING B4NK,
4 Movement TO Gust the Boss a d his Con.
fcderates-One of MuiIetts Lite Opera
tions-Tf odae, the Deauiting Favorite OF
the Administration.


WASHINGTON, Oct. 5.-Bcsides the serious
losses sustained by the depositors Of the Nation
al Metropolitan or Ring bank, through its shame
ful stoppage Of payment, there is another class
likely to suffer severely. This bank is the agent
u the District Government for the payment of
interest on all the bonded Indebtedness, and
the depository Of the Shaking Fund Commission
ors, Of which It's jobbng cashier Is one.
The quarterly interest on portion OF the old
municipal debt due on the lat Of October could
not be met Except in certified checks That is to
say, instead Of paying out the money which lad
been deposited FOR this purpose, the bank issued
promise. which have no market duc.
The annual interest admitted by the sinking
Fund Commis 4ioners, exclusive Of tho issues OF
bonds and certificates Illegally made 10y the last
Legislature IS t6.iei5l2i. How much of this
sum may h We been placed In bank from the
taxes already collected Is not IN M, because
the RING director, and ofi crs have refused e.
GLOW cN u stockholGcrs to examine the books.
Tho principal shareholders, who have hereto
fore hern divided among Themselves are now
coming together and cOuccrtug measures to
turn out i.s worthless President, Or. Blake, and
its cunning cashier, Mofcs Kelley, vino IL be
lieyed 10 have featLeled his nest at their eK-
pense.
Only fcw years ago this Kelley was clerk in
tho Interior Department. and had not dollar in
the world beyond his -alAry. Like Cofax ard
other hnaycs OF the tribe, he adopted Tie reiig-
iuus dodge as profess ~, put ON sluct.mouious
airs, stood high In the church, an1 was very
ur-ont for the conversion Of the hcathen.
Ry these nnl similar acts nc elbowed his wnv
into tie bauk, and, by degrec3, watching his
his chance and affecting humility, become the
controlling spirit in connection with shepherd
aud few Others Il his stripe Now he 1gurcs
as the ostensibo owner Of a large real estate,
ard IN partnership with the Boss has been put
ting up blocks VI houses In yaiioUs parts OF the
city. involving grcat outlay OF ready money.
The question Is naturally asked, where did
this Chra atian cashier got those tv,rtlcs and
nfYes 4 thousands to invest in speculation-,
who had no visible property when no entered
the lanky Perhaps the answer ls best furnished
by the dllapldated condition u the concern. lie
and his confe dcrates, inside and outside, have
pretty well rJned Il.
\ movement was recently made hv some 81
the parties interested, who eaw these symu-
toms with distruat, 20 got nd q this Iious
clsl'.r, but shepherd. 1hompson. sud their
Ring, fairly bullicd the honest directJls into
submission, and 1t failed.
The next experiment Is likely 20 he moro sue
oes-nil, for sense Of common danger a.li bring
week mon over. who have horetofo-o been in
umidated hy tho sheer audacity OF plnuderers
There B, determination to dslncect this old
institution Of it, Ring odor by tho peromptory
dismissal 4 D'akc, tho President, for incom-
potency and because OF bis being member Of
the board OF Public Works: Kelley. the cashier.
for notorious jobtcry ard shepherd. Thomp-
son, and other dirccturs who have been !oa.Gel
with them.
II may le zoo l7tc 20 save the bank from tie
damage dome TO i,s good uauc auI tAe injury T.
IT, material iutcrosts, bat tuls D. the only Ic-
medy lcf, 20 try. Come what may, the Aug an
stable must be cleaned aud this crowd sent
where they belong. II thcre be hesitation.
measure will be taken 10 compel bankruptcy.
80 much Is certain.
II is evident that this bruk must have
been drained down to tus lc,.. when
shepherds notes, endorsed Ly the beet
Of tie Ring, arc hawAed about AZ a large
discount. There h. not "a re- ponsible banl. here
that dare lend him dime, though wearing
Graut- commission "a Governor. That IL one
test ~ how The appointment has been received.
Al tie pretended receptions and other
administrations fur Shepherd are got up boy him
s,If. paid f1r by tho peoples money. and intend
ca to rrop him up financially AMI otherwise be-