Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1876-01-05
1 DIPLoMATIo scoUNDREL.
In the reports Of the recent turbu-
|ont meeting Of the Emma Mine share

state that the assertion OF the Direc-
tors "that General Schencls, the Amer
lean Embassidor, had been loaned fl0,-
900 by Mr.. Park to enable him to
purchase shares, and that he secured q
written guarantee from Mr.. Park tor
interest at lS per cent per annum, un-
known to his colleagues, created q con-
siderable amount of indignation" We
have already (says the ~ Y. Tribune
published Mr.. Schenck's direct tcsti-
mony on the subject, given before a
Commission in the suit of the Emma
Silver Mining Company, of London,
(Iimitcd) against Yrenor w. Park and
others, and our readers know what
mortiiying exhibition our representa-
tive at the Court of st. James therein
made OF himself ltappcars that Park
was total stranger to Gen. Scbenck
until he went to London TO sell the
mine, and that few days afterward
they were introduced to each other the
proposal was made that Gen. Schenck
should become shareholder in the
Company and that Park should fur
nish the money, And when counsel
asked Gen, Schenck what object he
supposed n stranger could have in ad-
vancing $4,000 to him for such pur.
pose, he seemed inclined to attribute
Mr.. Parks behavior to mixture OF
patriotism and bcnevolence. ~ think
it is probable" said be, "Mr. Park
knew that my circumstances were not
such as TO lift me' above the need Of
adding to my income if | could. lie
was an American; | was the American
Minister here and he might have de-
sired that the American Minister should
be connected with the Emma Mine
| did not go into his motives so much
as did into my own" Gen. Schenck
was not allowed to escape, however
with this guileless answer, and aitei
some pressure he acknowledged that
he was well aware Park wanted the
weight of his name. And accordingly
few days aiterward the flaming pros
pectus of the fraudulent Company an
nounced that "Major.Gencral Schencb
has, on account of the exceptional char
aeter OF the undertaking, consented tC
act as one Of the Directors" Writer
agreements were made between Gen
Schenek and Mr.. Park at the time o
the loan and purchase, SchenclS assign
ing to Park i75 Of the 500 shares a
security for his note of 10000, ant
engaging likewise to execute a mort
gage on bis house-in Washington, if i
should be required in the course Of th'
year as additional security, and Parl
guaranteeing dividends on the share
at per cent a month (aiterward re
duced by consent to 10. If ther
should be any default in the dividend
Park was to take back the shares a
par, and by rendering their par valu'
he could at any time discharge himsel
from the guarantee.
In all this y noticeable point is tn
ease with which Gen. Sohenck iorme'
intimate business relations with an ad
venturer already of i'll repute. MI
Park was identified with and was ur
derstood TO be one Of the projectors c
the Mariposa Mining Company,
swindle which New York capitalist
have not yet forgotten. lie was col
cerned in the New York, Boston an,
Montreal Company, railroad throug
line on paper whose pretended frs
mortgage bonds were palmed off upo
the foreign markets, and are not no'
worth dollar basketful. Larg
suits were already pending again'
him on account OF this negotiation
lie was besides tangled up in warrior
extraordinary transactions in thestre
and in general, was the sort of perso
. whom reputable business men woul
let severely alone, and whom Il
American Minister should not ha,
consented even to meet, much less
have business transactions with.
1t will be observed that while 81
shares were allotted to Gen. Schenc
the assignment covers only four hu
drcd and seventy-fve. The othe
: General SohenelS took for a friend, +
!, eeiving, it is to be presumed, their p'
value $4,000, which he seems to hay
kept giving Park his note for the fl
purchase money. Afterward, as
states in his cross examination,
parchased 800 additional shares, ca
ried them while, and sold ont at
profit of 60 or CA share---say Sc, 90
He received dividends at the rate
Is per cent per annum for thirtc'
3 months on 475 shares, and for son
time--it is not explained how long
on 300. These were his gains. Ho
much he lost upon another speculate,
in the shares, made in partnership wi
= a friend, and what he paid in the fin
settlement with Park, are points up,
which the examination throws no ligl
> Butindeed these matters are not prop
subjects oipublicinquiry. Thcamou
OF the losses in which he may ha'
become involved by the sale of i
name cannot affect the gross impr
priety of his conduct in the first
stance, and will not lessen the dcsi
of the public that he should resign
y post which he can no longer fill wi
credit TO his country.
= --==H-----e>
IS Grandpa Grant didn't forget Mel
d and the baby in his message, but J
h vlted the attention of Congress to sor
!, law regulating the status of our gin
d who marry foreigners and our bo.
n who happen to be born abroad. Ora