The New York herald., 1876-03-22
A TRUSTEE GONE.
Sudden Disappearance of Lawyer
William G. Barrett.
HE SAILS FOR EUROPE
Startling Rumors Of His Heavy
DefalcationS.
What Clients and Friends
Have to Say.

Considerable excitement created in legal circles
In this city yesterday by rumor that Mr. William C
Barrett the well known lawyer mad absconded Tho
rumor also coupled with another tho effect that
he had deiaulted n large amount AS Mr. Barrett
known to be trustee for several important es-
tates belief seemed TO be that he had msappro-
priated the funds In his hands. How he
went away, when he started, and to what
extent he had become defaulter. was
unknown, and the more investigation was had the
mysterious and remarkable seemed the whole af
fair Cleaned from multiplicity OF statements COM
bining much fiction fact the state of this case
seems TO be about as iolows:-
SUSPICIOUS.
In first place said that for the past two
or three days rumors have been flying around of a
heavy defalcaton the part of prominent member
OF well known legal firm who had been ntrusted
with large numbers OF bonds and other
curities belonging to hs clients, and suddenly ab-
scondod Fresh from reading of the glar-
ing frauds in which many of the high
officials of the country have been implicated the rumor
spread general feeling of insecurity and people be-
gan ask another when is this kind OF thing going
to stop. To many political stealing was no new story.
and the that have recently been printed CIV
ing the particulars of the seangs of the adminisira
tion officials only confirmed their previous belief; but
when they were told that William c. Barrett late OF
the firm OF Barrett, Redaeld Hill, OF the best
known legal concerns in this city, had fed the country,
carrying with him the funds which had been intrusted
to his by his clients, their interest was imme
diately excited 1t was blow that struck directly
home; il was not government funds that had been
stolen the savings bonds and coupons OF nearly
a dozen of the leading families OF the city
Tho first ntmation of tho real state OF tho case ap
h. el,,h
the story of the incorporation of the funds belong
ing to prominent New York families received strong
backing in q fresh history, in which Mr. William q.
Barrett credited with dofrauding some Montreal
clients OF q large amount On Monday the news began
to spread and the Montreal rumors took decided ap-
pearance OF truth when positively affirmed that
Sir Archibald Galt had from Canada about ten
days ago in order TO make an examination into the
business which Mr.. William c. Barrett had charge Of
for Montreal parties Mr. Daniel Torrance, OF
this CITY, 1t was reported was interested with Sir
Archibald Gait In this case and together
they appear to have made arrangement with
Mr.. William c. Barrett that secured their claims BY
an examination OF recent real transactions
found that William C. Barrett and wife conveyed by
deed 14th Of March blocks of real estate Of
the value OF about $50 900.
By many of his personal friends these stories were
received a tissue OF falsehoods, he known by
them to be good Christian and regular attendant OF
the First Reformed Episcopal church is also said
to have been very charitable, and is credited with hav
ing supported quite number OF old friends that
IN distressed circumstances Yesterday the departure
OF Mr.. Barrett and wife on the Perere for France
the subject OF general conyersa'ion, and people
appeared to have gained considerable confidence
making their statements about the losses Of their
friends without the slightest hesitation.
EXACT AMOUNT
OF the loss sustained by clients did not appear to be
known as although there plenty OF as to
the amount, nobody appeared to be able to furnish
any definite information the subject The clients
appear have suffered mainly in convertible property
such as bonds stocks and coupons and there
charges thus far bearing upon any fraudulent trans
actions real estate. 1t alleged that Mr. william
O. Barrett has been in difficulties for time past
and the decline in the value of real estate has
brought matters TO climax and placed
his business affairs in such muddle that
he found himself unable to clear them up He is also
reported 10 have lost considerable money by the de-
cline of property that he purchased IN North Carolina
and Others asserted that on the 1t said he
had suffered heavy losses through the decline
the value of Pacific Mail stock. OF course, in the
stement that the OF his departure created there
innumerable rumors flying around, placing the
dealcations at very large hgure some even going so
$500 OoO0 That, however. appears to be exaggera-
ton of the condition of affairs, for although the
victims themselves cannot give the exact figures, there
appears be comparatively lttlc doubt that his New
York clients will lose 500. .00o
Such the confidence in the integrity and respon-
sibility OF Mr. William @. Barrett that many OF his
clients although warned by the rumors Of the Mon
real business paid serious attention to their own
affairs until they became startled by the intelligence
that he had really left the country. They then has
tened examine into the condition of his Affairs and
from what asserted found they had suffered heavy
loss There has not yet been time, however to inves
tigate the entire matter and some Developments may
arise that will place matters In more favorable light
VISIT TO THE OFFICE
A reporter Of tho HgRALD called on Messrs. Reddeld
HILL at their Offices. in No 20 Nassau street, yester
day The rooms, famous for their elegant ap-
pointments. were in dapdated condition, present.
ing all the appearance OF place from which the occu
pants were moving The furniture was topsy tLrvy,
and books and papers strewn about the floors
! of the several apartments Messrs Redneld x Hill
were in and received the reporter quito cordially Mr.
! Hill however who the spokesman for the firm,
determined to say nothing in relation TO Mr. Bar
retts rumorcd disappearance.
"I nave nothing TO say about the affair at all, sir
replied Mr.. Hill ~ have not any intention what
ever OF making any statement touching the rumor;
that you will be merely wasting your time asking ques
tons. Hereafter occasion may arise TO warrant our
making some sort of statement Until u shall, how
ever will be silent II Is useless TO ask any questions
There that about Mr. HIPS manner which showed
beyond doubt that he was in earnest Therefore the
/ reporter withdrew.
Tho firm with which Mr.. w. c. Barrett formerly
connected originally formed ten years ago by his
| entering into partnership with Mr.. Brnsmade In
| time Mr.. Brinsmade retired and Mr.. Redncd took his
place. and about the same time Judge Barrett also be-
4. partrer. When the latter elected
to his present position he eft the nrm
and succeeded by Mr.. hilL A few weeks
ago the affairs OF William q. Barrett found
be in nsolvcnt muddled condition, a result
which led TO his retiring from the firm This fact was
however, not known until yesterday, when II
] ncadb bV AZ Nail of
I gentlemen had any connection with the extensive
trustee business transacted by Mr. Barrett, and they
consequently know nothing about that branch OF his
7 law business.
i UNSUCCESSFUL sPEcULATIoNa
William G. Barrett led INTO extensive land specu-
lations South Carolina through John Mckay, for
merly broker who failed in this city. Mr. Bar