The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1876-02-10

cal leaders in Washington and else.
where, although they are hypocritical
set, it was hardly to be expected that,
with these expressions of sympathy up
on their lips, they would 60 deliberately
to plundering the defenceless colored
men, women and children. But such is
the damning record of their rascality,
that ordinary thievery and burglary be-
come respectable by comparison. This
was accomplished through the organiza-
ton of a gigantic swindling Savings
Bank" and branches, apparently organ
lied With a view to the peculiar system
of peculation which they carried on.
The Washington Gazette, from which we
gather the following particulars, gives
the facts and figures, including dates and
amounts, with a minuteness that should
cause a blush to mantle the "cheek" of
the thieves who are now glibly prating
about "loyalty" to the Government.
"With one hand they put penny in the urn of
poverty.
And with the other they take a shilling out"
The Gazette says that is unfortunately
true, that you cannot bring these men to
justice, to see them punished as their
crimes merit, while the present Admin
istration is in power. The most we can
do at present is to keep this great crime
in all its deformity before the people,
and look to them for justice and less
corrupt Administration.
Four years ago, says the Gazette, the
writer of this came out boldly in the col
umns of the New York SWn and exposed
the scheme, on information furnished by
an officer of the bank, who resigned his
position rather than be made sharer in
the villainy:
FIRST GREAT RAID ON THE DEPOSITS.
The deposits of the bank were now
Tin 1927 three millions dollars. After
establishing thirty.six agencies in the
South and West, it was more completely
in the grasp and under the control of the
Seneca sandstone ring than ever. Henry
D. Cooke. w. S. Huntington and l.. Gle
phane were in reality the "Finance
Committee" and controlled the funds as
completely as if they had been their
owns To place the funds of a
freedmen's savings bank at the mercy of
such men as these was simply to hasten
its ruin.
First-We have Doctor John L. Kid
well, apothecary, and President of the
Seneca Sandstone Company; loan of Sl0,-
600 at 10 per cent; loan secured by S20,-
600 bonds of the Maryland Seneca
Freestone and Mining company, at 80
cents. THE bonds were not worth the
paper they were printed on
Second-Dr. John l.. Kidwell, apothe-
cary; loan of $1,000 at 10 per cent, Sc
cured by second mortgage bond of tha
Maryland Freestone Company. 1t win
be seen that the venerable doctor, who
is a shining light in the Young Mems
Christian Association, opened the ball,
with $4,000 of the freedmen's money.
A very few months later and the bank
had loaned S74000 to various members
of the Seneca Sandstone ring. And all
it had for security was such stuff as the
bonds, second mortgage, and common
stock of this notorious sandstone COM.
pany.
Third-We had a mysteriously mark
ed loan to Hallett Kilbourn, Esq, $l4,-
600 at 10 per cent. interest, secured by
800 shares of the Metropolis Paving
Company's stock valued at 10000.
This is the concern through which
Shepherd and his ring developed most
of their rascalities. Lewis Clephane, a
member of the banks Finance Commit
tee, was President of this notorious paw
ing company. ...
At the time these securities were
pledged with the bank, only $4,000 of the
stock had actually been paid up by these
men.
Fourth-Matthew G. Emery, Mayor of
the city at that time; loan Of $4,000 at
10 per cent, on corporation coupon GER
tifcates. This was a legitimate business
so far as the Mayor was concerned. But
the Bank had no authority to loan its
money in any such way.
Fitth-A demand note Of the Scharf
Paving Company for $4,000, loaned to H,
X. at 10 per cent, secured by shares of
the company.
Sixth-Here we have that Christian
Soldier, Patriot and Statesman, General
0. 0. Howard, borrowing the banks
money. This for religions sake l sup
pose. Howard wanted $4,000 to invest
in a sash and blind factory scheme. He
also borrowed the banks money on
stock of the Young Mems Christian AS
sociation. When asked if these bonds
were good, he said they must be, for the
Lord was in the cause they were Civ
en- for.
TIVE BOSS TRIES HIS HAND.
Seventh-When money was to be had
on such easy terms, and sandstone stock
good enough security, Shepherd was not
the man to allow his modesty to inter-
fere. He wanted $4,000 and got it, CIV
ing city lots worth $4,000 as security.
Eighth-The charter of the bank for
bids an officer borrowing its money; yet
H. D. Cooke, chairman of the finance
committee borrowed $4,000, at 10 per
cent, on 400 shares of the Y. M. c. A.
Ninth-There we're number of min
listers of the Gospel, too, who got money
of the bank and left their notes and
blessings for security.
The Gazette continues; These names are
enough to suit my purpose. They carry
us back to the time, about six years ago,
when the conspiracy to rob the bank
was first formed. We also get through
them pretty clear insight into the
method of their vile operations. Now,
if we add to these names those of three
or four less conspicuous persons, we shall
have the combinations which not only
,>l,,, Ia.ol A. E.oa1roanJo pop1y hut