, 1875-08-20


sw1vD11Ng pANKEps
Police authorities in larue cities l,ava 1onp
becn in tho habit of making collections Of
the implements used by tho rogues who nrcy
upon the community, such as slung-slo,s.
iim1nies, pistols. knives. felso kevs. cbise}s
knncklcra, blud9cous. csc,.--l,ut mona of tha
authorities hare yst exhibited to the public
in these collections tie indictments use,1 bv
ccrtain c1nss Of bnnkcrs in preyipe upon
tho community By the PRACTICE of the conf
tlence game. Such an opportunity is now
offered in the cayo Of DUNCAN. SHERMAN (
Co. Alongside Of tho iimmics, and knuca-
lers, anl forged checks, should bo hung. for
instance, tue official statement Of tho assets
and liabilities, AS recently filed BY the As.
sieneo in Daukruptcy. showing thu remark.
able shrinkago Of capital amounting to its
complete destination, This might bo accom-.
panied by sample copiea of tho worthless
rags held by DUNCAN, SHERMAN l. Co. ~
securities, consisting of railroad, mining. and
insurance stocks, not worth the naper
they arc printed on, BY list of tho
disastrous snccu)etions in which tbev enraoed
outside the Legitimate channels of banking
and by some Of their accommodation swim.
tlo paper, Such m exposition would bo er.
tremoly interesting, as showing how unscrt,.
pulons bankers NAV 10 on for years. play;no
their confidence garnes upon tho public, until
at last the whole affair ends In COLLAPSE. the
exhaustion of confidence. and the t1efrandjno
of those who have had dealings with them.
The public might loarn d useful lesson from
it, md the exhibition might a]eo nroye paaful
III a warning tn otber unscr,nntona hankera
Taking thu aummarv Of nuso,n suyp,,.r
L Co. IS accounts o. in poiat. wnat n showing
they make Total copartnership liab,litiea,
S4,910,013i Total copartnership assets
S1,B54,5G8l SINK, that is, creditors swin-
died out Of, 81, 055, i IL, BY o gigantic conf
dence ga,ne It is now announced TINT thew
offer to INV 80 por cent to their creditors On
time. Creditors lad better take It, They
will never nav Al much noain. md tha ,,os4;-
b;lity Of 33 per cent is better than nothing.
They con learn q useful lesson from
the result Of jar CooKs i Co.,s
failure in this respect, The asseta are
figured at 81, ,854, ,5o8. How much they wilt
realixe may be inferred from examining one
class Of aasots, namely, stocks and bonds.
It ia q suggestive list: Paterson L parampo
Rnilroaa, Mobile l. Ohio Railroad. Mobile /
Ohio consolidated bonds Mobile l. Alabama
Grand Trunk, Arkansas bonds, Alabama
bonds, Mobile County bonds, Eureka I,ake
and Yuba Canal Company, Albert Mining
Company, Surprise Valley Mining COMPANY.
t.k
itcrn, "other items" tho whole footing nm
the u estimated market value as s5G7. 10
in reality mainly composed Of ra1a kites.
and paper balloons, averaging. at generous
estimate, 10 cents on the dollari There uero
other rotton securities taken In consideration
of high ratea of interest, and this firm. which
enjoyed the rcspsct md confldence of the
community, also imposed upon It by raising
money upon Its accommodation gwindJe
drafts, tha stale resort Of yery vulgar awin.
<lless.
With such practices as these, the conedence
game has been played for yeara anon an nm,
suspectinR community. The eix millions os
capital Of tho firm could not hive been Inst
in few months, It must have taken yeara
Where Ia jt2 The two m;lliona 1eft IN mt tbo
original capItal, It liz thu c7ed;,ors' uonav
These practices were not only kent nm for
years. but thew vere kant Nm to the varv ,aat
The $40, 900 out Of which the Citv Of ch;cauo
was defrauced. which should haya baen a
special depos,t, va. taken nj a inns whan I'm
firm wasn1 wortb ", can,s m ,ha ,oli.- os5
was mid ant IN other cre1,tors "a hn,, ~
,,,p,a,,rna,t F,r s,,h ,...t,..,a -