The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-01-08
HEAVY SWINDLE AT CHICAGO.
A GROCERY FIRM RUNS AwAY-UNPAID DEBTS
$751; 25.
from the Chicago Journal, Jan. 81

from the Chicago Journal, Jan. 81
About year and a half ago four brother,
by the name of Roe left their place Of bust
ness in Toronto, Canada, and came to thi
city. They brought with them the best o
recommendations from Canadian bankers to
business men in this vicinity, and having
reputed capital Of $4,000, easily started il
the wholesale grocery business at and
Wabash Avenue. Everything in their line
went along without any suspicion Of any in.
tention of unfair dealing and the firm APP.
pesred reasonably successful. But to-day the
news got upon the streets that the brothers
had collected all their outstanding bills Of
every description. Many bills had been
given upon their own credit, and upoA $780,
| 900 stock in store.
The rumor was further made interesting by
the addition Of the statement that moro than
half of this stock was fictitious, that all their
deposits at Preston Il Kean's, amounting to
| S15, 900, had been withdrawn, and the only
amount left to the creditors was $1S5 at
Greenebaum's bank. As the brothers had
left for Canada with liabilities of SlSO,O0O it
was matter to cause considerable alarm
among grocery merchants and other interested
parties. Among the creditors who are known
to be affected by the decampment of the Roe
Brothers, are : Frank Grey, loss. $4,000;
Spalding 4 Merrick, loss, $500; Durand &
Co.. loss, $1,000; Stewart, Aldrich & Co., $500,
and Brown & Gorham, New York, $500.
Many other names are included in the rumor.
reporter of this paper called at the store
of the late firm and found about thirty credi-
tors gathered in the outside counting-room
discussing the situation. The reporter on en-
tering the private Office was met by Mr.. G. Il.
Roe, q brother OF the absconders, who stated
that his information was decidedly meager.
He said that when he arrived at the office this
morning he found the following communica-
ton on the desk:
To the Editor Of the Times:
We find it our painful duty to state to our
creditors that we are unable to nay our debts
in full, and therefore offer to place our estate
in their hands, or do anything else which they
may determine on for the furtherance of an
equitable distribution of, our property and
effects. Roe B.oTuERs,
Wholesale Grocers.
In the same room the reporter also found
the book-keeper OF the firm, who had nothing
to say upon the subject, further than that it
was matter of surprise to him. Several of
the creditors had tried to pump him, with an
idea of ob;ainipg the books, but he saws he
will make no statements unless compelled to
by legal authority. The reporter then pro-
cee6ed Upstairs, where meeting Of the
creditors was being held. At this place sew
eral new developments were brought to light,
and one in particular that caused the faces Of
tho-e present to lengthen with remarkable |
a!aclity. 1t was that, instead of the stock |
down stairs being worth between $50, 900 and |
S7O,0 0O, q careful examination showed it to |
be worth not over ,000 The total amount |
If Indebtedness amounts to S1S7,2S7 Is,
which is owed to about thirSy-ive creditors.
At the meeting much discussion was INDUCED |
n about putting the concern in bankruptcy,
out as sooa as the value Of the stock was an
aonuced, the idea vas given up. The credi-
ors will probably come to some conclusion
his afternoon.