The New York herald., 1875-02-21
AN ADROIT SWINDLE.

AN OLD NOTE TRANsACTION-FIvE THOUSAND
DOLLARS INVOLVED.
On or about toe 1lth day OF May last the old and
well known firm OF c. & r. Poilon, ship chand.
lers, OF South street, gave 70 James Buckley, an
emp0ye for negotiation, their note for $1,000
payable four months after date. The firm was
induced 70 pursue this some wnat irregular COURSE
with their paper upon the representations OF MIR.
Buckley that q friend OF his had quite an amount
of trust lunds, which he would be glad to loan
upon prime paper at less than street rates. Hav.
ing implicit confidence in Mr.. Buckley the Messrs
Poillon delivered the note in question 10 MIN lor
the purpose of having the same discounted The
next heard OF the note by them was through
Orlando NJ. Bogart Co., note brokers'
Of No. 8 Nassau street, by whom the
same has been discounted for one Joseph H.
Livingston, representing himself as from the New
England Lie Insurance Company, OF No. 40 Broad
way, and TO the order OF which company Messrs.
Boyart Co., delivered to Livingston their check
for S4,S33 33 IN payment for the note. 1t now
appears that the Messrs. Poillon have been made
the victims to o heavy amount OF q well organixc0
set OF snarpers and swinolers that have for years
infested the neghborhood OF Wall street. Upon.
investigation We hnu that one George Ii. Smith
became acquainted with the act tnat Mr. Buckley
was some times entrusted with the negotiation or
commercial paper for Messrs Poon, so a deep,
laid plan was concocted TO draw Buckley into the,
trap and secure possession IN some way OF
the note in question, II only for brief
time. knowing that the money could be-
readily obtained upon 1t. Smith introduced
Buckley to Livingston at the Insurance
ONCE, as above as the man with the trust funds.
Livingston takes the note and disappears with It.
smith follows soon alter to look Tor Livingston.
ln the meantime Livingston returns and says that
he paid Smith the money. less his brokerage, and
this was the last air Buckley or the Messrs. Poll
to pay II, or dollar Of money OF the proceeds OF
the same. Livingston has always claimed TO have
acted only IN the capacity OF broker In the prem.
ses, but Messrs. Beebe, Wilcox Hobbs, the attor.
neys Tor the Poillon Brothers. claim 10 nave se-
cured such Information as convince them that the
whoe transaction was well concOcted and deem
laid scheme 10 rob their clients out OF SIS, OOO ancc
that Livingston, DR.. Park and smith were the par
ties who put up the job and received the proceeds
Livingston was arrested on thursday evening lase;
at the Grand Central Hotel by Officers Fields ands
Connor, OF the District Attorneys once. He was
committed TO the Tombs without bail.
Park ana smith are not TO be iOund. AftogetherS
IL Is remarkable case, and fully illustrates one OF
the many risks that attend the prosecution Od
business IN the vicinity OF Wall street. In Justice
TO MI s. s. stevens, the agent OF the New Eng-~
land Life Insurance Company In this city, au
headquarters, we VIII state that he says thav the
check Tor the money paid oy Messrs. Bryant h Co.
TO Livingston was endorsed by =. Kenny, his book.
Keeper as attorney Tor him, without any authority.
ana tnat Livingston was only an Incidental and
recent acQualn ance. There is likely to- arise OuN
OF the transaction some important legal question:
IN regard to the responsibility OF endorAers and
how far bank Ia liable In It's csrtincatiOn OF the
correctness OF an endorsement a. was done m
TINS case by the cashier or the First National Ban6
IN reference 70 the endorsement or Kenny. and
which enabled Livingston to get the money.