National Republican., 1873-05-06
TAINTOR ECLIPsBD
A Phil ladeiphia banker Makes Away with
a7OO,OnO.


The details OF q recent failure OF Harrison
GrAmbo, banker, Of Philadelphia, throw In the
shade any thing that has occurred In Wall street
IN s Re Y s9s p no. even excepting the
Nj. Grambo began his career At the foot of the
lsdderj indeed II Is said that bis fathers funeral
,6D sSRepses Her 1d sSS aso Sy rmsr s1eS
business sssec,aies 80 reduced had the family
become pecunianly.
After the death Of the elder Grambo, the hero
Of this story engaged In q mercantile business,
hut, owing TO the popularity OF his method, II
was not long beforu he found himself wreck.
ms next effort was IN banking. lie started out
on . large scale at once, and 80 far as assump-
ton and cheek could give him tone, he had Il.
But the brokers OF the city never took to him
Grambo gave mecr for sneer, and kept on In
the uneven tenor Of his way, uunindful OF the
steady old burghers, who frequently prophesled
his downfall In course Of time he ntted up his
ofhees In princely style, and wondering ooun-
trymen were frequent recipients Of Gnmbo's
circulars, with the interior OF the banking palace
engraved thereon. .....
with sofas and easy chairs, and all the papers
and royal ingram carpets, were therein dis
played, and people who knew nothing OF the IN
side workings OF this wonderful institution said
Grambo was q wonderfully successful man.
Oonndlng laborers and clerks, and working wo-
men and farmers brought him their money to In
vest, and always received the interest promptly
on time; but what Of the prtncipafT Echo
| answers what
Mr.. 0rambo's sisters were provided with
street that locality SO dear to the heart Of Phis
dslphia respectabtlity; costly pictures adorned
| his walls, the finest viands tempted hts palate,
and arsm6o wen! on prosperng with other Peo.
nnest oflces, he ntted up sub-oiiice In gorgeous
style In the rooms Of the board of brokers, which
was az GnGe she 81 enyy S1 ine y, ny oGaSst oa
The banking palace In Walnut street-Mr.
Grambo's once was also In Walnut street
although very nne, could hardly be expected to
| 20 cast his eyes around for more palatial build
| ing wherein he might organize banking house
without rival on the American continent.
There Ia In Chestnut street, between Eighth
and Ninth streets, very elegant marble build
Ing, formerly occupied by Bailey A Co., Jewellers,
and this building the adventurous Grambo de-
cided TO possess. lie sought out Mr.. Joseph
Tobias, the owner, and made bargain with that
| gentleman. Nj. Tobias agreed to expend ti5,0OO
In repairs and alterations, and GtAmbo decided
completed, and Mr.. Tobias congratulated him.
self on the possession OF such desirable tenant
few days ago, before Grambo was ready to
gan 70 spread. An investigation proved the cor
| rcctness Of the rumor and u required but two
or three days 70 ascertain definitely that Grambo
indebted for gardening went into the stable one
| night and there found two furniture cars loaded
with household furniture awaiting the night Of
few more hours for It's removal 10 the house
formerly occupied by the Grambos.
A few evenings ago q crowd was attracted to
| the new banking house to Aee an iron mAnufac-
| turer remove some iron work that Grambo had
ordered. Two or three days more elapsed, and
| the nnancier Of the period found himself ar
| rested on three distinct charges OF embezzle-
| ment. Bail was furnished In each instance, but
there are more charges pending, and Mr..
| Gramb0, from present appearances, has an ex-
oellent chance OF verifying In his own perssn
The experience OF one who suddenly nnds him
self Transferred from palace TO prison.
| Speculation, dealre TO ape the habits and
| follles OF mon who can afford TO crafty their
wishes, and an overweening vanity and belef in
his own cleyerness, seem 70 have been the
| OF the story, though plain, will be commented
| on for day, and men will fail with other peo-
pies money Just the same as ever.
At q hearing In the case OF GrAmbo, II was an-
| nounced that warrant had been issued forcing
him Into bankruptcy. His liabilities are 500 OOJ
and his assets 100000. Ills residence cost, with
the furniture, $40, 900; but 1t Is heavily mort