The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-02-28
The Eccles Business.

From the New York Sun Of Saturday
F. II. Eccles, the Wall street broker
who suddenly disappeared from this city
two weeks ago, returned on Wednesday,
and was sent to Ludlow street Jail on COM
plant OF ofEicers of the Third National
Bank. In June last Eccles obtained a
loan of Sl25,OOO from that bank, leaving
as security an equivalent in gold. When
the loan matured, on the Sd OF July,
Eccles informed the Stock Board that he
was going to Toronto to see his mother.
He went of the next day, and boytook
TO the Third National Bank checks for
the amount OF the loan, signed by Eccles
and certified by the Mechanics Banking
Association. Eccles' note requested the
officers Of the bank to deliver the gold in
his Office in Broad street. The bank mes
sengcr was instructed by Mr.. Jordan, the
cashier, not to deliver the gold to any ono
except Eccles in person. The messenges
did not find Eccles, and when he return,
ed to the bank It was ascertained that
Eccles' checks we're irregular, as he had
not money enough on ndeposit 10 cover the
amount called for. The Stock Board
then suspended Eccles.
On the 18th OF October, Eccles sold out
his seat in the Stock Exchange for S. 500,
and gave up his Office in Broad street, and
thereafter operated as an outside broker.
Two weeks ago it was rumored that he
had absconded. Mr.. P. @. Calhoun, Presi:
dent Of the Third National Bank, said
that Eccles had defaulted to the Bank OF
the Ohio Valley Of Wheeling to the
amount OF $4,000. That bank had au-
thorized Eccles to purchase for 1t on q
margin a quantity OF bonds. Eccles did
so, and was then instructed to sell the
bonds, satisfy the margin, and deposit the
Wheeling Banks money to It's credit in
the Fourth National Bank. It was also
said that another bank had been victim.
lied, and the amount stated was $4,000.
Eccles says:
PREVIOUS to my failure ! was indebted TO the
both Of Wheeling, I" est Virginia. In the sum Of
$40 900, Of which my debt 10 the Bank Of the Ohio
Valley was sS0,O0L These banks had been specu-
laIIuH 10 Government bonds, and sent me mAIglnS
10 carry the bonds with and TO sP,eulalo When
was callc on 70 pay the margins found could
not do 80, and failed. Il have wealthy and inh u
entlal friends Ia Canada, and at Onc0 Wtnt there
10 raise assets 10 pay my debts 1telegaphed RON
Toronto to tho Financial News Bure,u that was
raising assets and would pay my eredlior& LEG
graphed TO tho slme etett 70 tho banks, and MI:
Chandler, Of the Ohio Valley, and MI. Hlldreth, OF
the Commercial Bank, came on and spent three |
days with me In Ianada. On the day before yes-
terday telegnphed TO them: Meet mo In New
YORK. l am happy to say have Fllsod thirty per |
cent came on to. New York Of nv own fFeo
will, intending TO acthonorably, and intended TO
pay over the thirty pOr cent and then 10 return TO
Canada and, u possible, raise the remainder came
hero and paid the thirty per cont iGto the Fourth
National bank 10 the credit Of tho Ohio Valley and
Commercial Banks Mr. chandler, Mr. Hlldrnthl
aud myself walked up TO the Ast0r House, and |
there was arrested on e1plas sued out BY the !
Ohio Valley Bank, Mr. HIldroth Eaid 10 me: 'Ec-
cles, you must not think have anything 70 do with
have acted like gentleman and man Of honor
have sued tho Bank Of the Ohio Valley for slV0-
900 dSmlHes for illegal detontion, aud the papers
were served on them BY my lawyer to-day"
Eugene Pomeroy, the counsel OF the
Ohio Valley Bank, and Mr.. Hildreth, OF
the Commercial Bank Of Wheeling, say |
that Eecles's defence is only partly true.
Mr.. Eccles received from them $4,000
to be used as margin in the purchase Of
Of 100000 worth OF bonds. Instead OF
employing the money as instructed, he
pocketed il and went to Canada. Mr..
Aildreth acknowledged that Eckles has
paid him and Mr.. Chandler about 80 per
cent OF his Indebtedness, but he denied
that he told Eccles that he washed his
hands Of the arrest, and did not remem.
ber telling him that he (Ecclesl had acted
like a gentleman and man OF honor, for
he considered his conduct decidedly i'm
proper.