The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-26

hour Of tho disgrace which, for more than Jour years
has or this transaction rested upon the American
name aud caused every right minded lover OF his
country 10 blush for shame is brought home to the
administration. and there would be occasion to
make further comment this unhappy business cx-
cepl for the purpose OF showing the deplorabe conse
quences which sure TO result from failure the
part tho government to deal promptly and sternly
with It's servants Tor any serious violation OF It's
regulations, its instructions. of the well
settled principles and long established usages
the repe,i.ion Of such offences may hero
after become impossible. and the fair fame OF the
American people never again be furnished by such
dsgracefu transactions do not forget the wise and
witty French provcrb, 'sLarons nofre hinge sale en-
fdms;" but this linen was solled abroad and has
long been worn ia the lace oil the whole world. that
have choice but TO make It's publication conspic
nous and as pubic as was the Transaction by which II
was polluted For shis dreary and unpaiatabic task
necessary and profitable, however, 'or doctrine, or
rcproof Tor correction Tor instructions In righteous
ness the materials furnished BY the evidence sub
mitted with the report arc ample.
A FEARYUL SUMMING UP
They serve to show how the ambassador OF the
United forgot his high station that he only
consented to become director Ia o company propos-
ing to sell its In the country which he was
accredited, bus allowed his and Official title Of
voucher Of its exceptional character how by SUBJ
scribne publicly. according 70 hts statement for
10000 Of the stock apparently upon the sane terms
the other subscribers but IN reality upon private
arrangement previously made with the ,enders, IN
which he put no money At risk, and was absolutely
against less the envoy OF the great Repub
lie placed himself in the attitude Of
ruyrER,
at sale; how he specialized in the stock OF
corporation which he had thus helped 10 create and
direct how hc seemed to be incapable OF drawing the
distinction between investment and speculation; how
he associated OF his secretaries OF legation these
speculative operations and awaited OF the services OF
the other to watch the fluctuations Of tho stock
ns and act now s his ssoEss Ss
opinion that IL is proper thing. not merely
for an ordinary man, but for American
Minister sell stock short that IT, to sell what he
does not own and expresses his regret that no did OF
SO and indemnify himself against loss by transfer
ring II 10 else not IN possession OF the Infor
nation which he had received through private
how he confuses his accounts OF profit and loss that
he separate the profits which he actually did
might have realized out OF his orgna transaction with
Mr. Park with the losses which he made in specula-
tons in the stock having no 70 alton to this transaction
with Park how he accepts credits upon Che note which
he had given to Park the nature and origin OF which
he had knowledge whatever except that they
out Of transactions wherein he was Mt no risk;
how he declines further credits OF the same
character, because he thinks that tho limit
OF nvors has been reached; how he arrived at
this conclusion only amer tho public press had been
filled with hostile criticism; how his memory as 10
the mode Of payment for the second allotment OF
shares leads him in London that Park did not
provide the means for the payment thereof, and how
before the committee when It had been clearly shown
that Park did provide these means, rctracts the
statement he made in London; how in the final settle
ment with Park he transfers to HIM payment OF his
Indebtedness stocks upon which he continues draw
the dividends how leaving London he forced to
plead his diplomatic privilege his defence against the
service OF writ in civil action growing OF his IN
fortunate connection with this disastrous undertaking.
and how finally he reiterates his inability compre
bend the false and unfortunate position In which he Is
placed before the public by series OIL advised
in which it is charitable TO regard his memory
At fault and TO look upon him as the victim Of de-
signing and inscriptions men leading and persuading
him to an equal ruin Of reputation and purse.
COURSE SENATOR STEWART
These materials TO show how William NJ
Stewart a Senator OF the United States, while acting
counsel for CLIENT who bad placed his interests
rcscrvedIy in his hands, with whom he had arranged
for contingent iee which should have bound him all
the more jealousy TO guard the interest OF his client,
became the purchaser of that interest, at time and
under circumstances when he could have computed its
value with almost mathematical certainty at price
which gave to the client $780, 600 which practically
the contingent fee and gave the counsel the larger SUM-
1915 00O which should have gone to the CLIENT how
this magnificent sum, which was paid by Park to
Stewart not in pursuance OF express written agreo
mont. such usually regulates large money TRANSACT
tions among the best Of friends, but ia accord
ance with an unwritten understanding apparently
based upon sentiment Of honor which has been for
muatcd into the English language; how tho legal re-
dress wisely secured by tho law 10 the client under
such circumstances was cut of by further payment
at later date which Stewart sIigmatlzes black
mail, and release secured, which, as summary OF
the whole translation. legal curiosity and model
form for lawyers who desire protection from
their clients, II IL well to preserves
know all men By these present. that Jane. Elias Lyon
Of the state Of Nevada now q washn the District
1 y: :as . sssS. The
81 on every .d claim S RICH:
may claim to have against him. whether legal
e Ct aud " s Of sry .s scrn
ton out Of biz rs.son =: attorney
called and the various proceedings Negotiations
Emma mine and the properly thereto belonging and she
conduct and disposition thereof him. tho
In witness whereof have hsreanso set my name and
- : - - ''' - JAMES LYON. isrALI
lEHS % i'is Sas'1
How thus was secured immunity from the claims Of
his Client but not from tho impartial judgment OF the
legal profession and OF the world
PARKS ACTION.
These materials serve 10 show finally how Trenor W.
Park, "a member Of tho American bar, the President
OF tho National Bank at North Bennington. w. and
we'll known to the American public for mis- connection
ss vsays aar VII, MOI no h" Sorco,c ~ %
suffered, the great author OF all this mischief with
skill which has never been surpassed going London
entire stranger, but having carefully prepared the
by large shipments OF ore and glowing Of
the production OF the nine within short month Sc
cured the services bert Grant, the greatest manp
ulator OF speculative OF modern times agreeing
10 pay therefor rate OF compensation which may be
small Tor him, but which IN this country Of primitive
notions would be deemed decidedly MAGNIFICENT how
he provided in the contract for sustaining the market
pending the allotment by purchases of the shares
bond fde investors, process said be usual ia Eng
land but which here would be regarded little short
of robbery; how widows and cergymcn and half pay
officers and others living upon aunuitlcs thus
induced invest their scanty capital in the hopo OF
securing permanent dividends a high rate out OF
an enterprise said 70 be cxccptional by the Amcri-
can Minister tlct US be thankful that such cxcep.
tional cases are rarc); how he ingratatcd himself
into the confidence Of the American representative
ut the Court OF st, James so that within two
short weeks he felt an irresistible desire 10
shower benefits upon him and 10 relieve him from the
embarrassmcnts arising from large expenditures OF
official lnc0mc how hc inspired tho Minister
with that charming confidence which accepts favors
without Suspicion that they are TO be rcqucd how he
issues prospectus containing statements calculated
to persuade the most wary, out which turn out
be ia mournful contrast with the actual issue OF the
enterprise; how, when he was ABOUT 10 lose, by the
resignation OF tho American Minister, the manstay
upon which he rcllcd for the sale VI the remaining af
OF the shares OF the company which had been tied up
for time. he procures letter, which declared To
effect better than to have the Minister
a director wherein his own character is Reimbursed
and the great value Of the property rcafrmcd; how
everybody who could assist ialurc tho successful
preparation OF the sale concated by pulls y
the Senator from Nevada sarcascaiy describes them,
upon the funds collected from couhdiug public,
that by a long pun, strong pull and pull alto
pctncr about ST. 900 900 expended in preliminary
expenses, OF which the great American banklng