The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-03-15
A TRANSACTION IN BoNDs.
The Explanation ihni - iindn of q. NJ. toll
IiEs's Arrest In pnris.


During the past month various publica-
tions bave appeared In the newspapers relative
to the negotiation Of forged securities by one
Chas. Il. Farnham. These publications showed
that Farnham, alias williamson. alias Perrin.
was a noted negotiator OF forged bonds, who
several years ago succeeded In vlctimzing sew
eral prominent banking houses In this city TO
tho extent Of nearly S20O,OO0, and that the banks
and bankers had subscribed fund OF $4,000 to
secure his arrest and conviction. These pub
lished statements have also contained an ac-
count Of the manner IN which the banking house
OF Rollins Brothers & Co. OF 81 W all street was
deirauded by Farnham out OF about $1,000, and
that whilo attempting to obtain an additional
sum Of $1,000 on California and Oregon Railroad
bonds, Nr. +, II. Rolllns, In charge OF the New
York house. discovering tho spurious character
OF the last named bonds, Immediately caused
tho arrest OF Farnhsm, and under the direction
OF District Attorney Phelps instituted criminal
proceedings s2ainst him. Farnham Ia now in
the Tombs awaiting trial, not only on complaint
OF Rollins Bros. & Co., but to answer 4 dozen or
more other indictments found against him for
offences Of n similar character. The circum-
stances under which Mr. q. NJ. Rollins, the
senior member OF our ntm, undertook the nego-
tiations Of bonds In Europe In behalf Of Farm
ham are briefly as follows:
During the latter part OF January Mr.. g. NJ.
Rollins about leaving Tor EurOi on I'M
portant business Of the house. "A day iOr two
before MIR. Rollins sal ed Farnham proposed
| that lie should secure loan upon certain mar
ketable securities, IN Europe, as money could
| be- had there upOn much less rate ot interest
| than In Now York, and upon Mr.. Wolns's ap-
prov. Of the proposal FArnham delivered to Mf.
| Rollins, few hours before he sailed, package
containing a large amount o. securities ap.
! parcntly valid I'm all respects. Upun tho arrest
/ Of Farnham In New YORK MIR. Rollins was mme-
! diately te!egIaphed at brussels, and apprised Of
| the arrest and the probability that the securities
! In hls possession were worthless, but unfOrtu-
nately, as we have subsequently learned, Mr.. kO!-
! lins had in the mean time applied Tor u loan at
| Brussels on the securities, and placed them
| with banking house in that city until the psr-
| ties to whom he applied had time to m Ike In
| quiry regarding them, and had gono to Paris In
company with Mr.. A. Hnrmans OF Brussels, All
employee OF our house. for the purpose OF trans
acting business connected with prominent
| American railroad company. which was the
main office, OF his visit 10 Europe.
After the departure OF Mr.. Rollins for Paris
| tho character Of .the ponds was made known At
| brussels through the action OF Mr.. Rollins Ia
| New York, und upon tho arrest OF Hr. g. NJ.
Rollins aud Mr.. Harmsns IN Paris. at tneif
special request they were taken at once To bfus-
! tpon being Informed OF the arrest our ilrm i'm.
| mediatclv furnished the Consul and the counsel
! Of the Belgian Government evidence, by anida.
| Wits and other documents, showing tho good
| ,aith and innocence OF our firm and u senior
menter Ia their connection with said Farnham
| and his spurious securities. These documents
| were supplemented with letters rom the pfosi-
| dent Of the Sew York Central Railroad Com
| panV, District Attorney Phelps. ana well known
| haukeis. also personal explanations Oy officers
Of the California and Oregon Railroad
! and other prominent gentlemen, commend
| Ing In all respects the action OF our house
| IN successfully securing the real offender, and
| exrressng their belief and confidence In the
| good faith and integrity OF our arm tu this mat
| ter. These documen; =. statements, AMI letters
fully satisfied the reprc sentatves OF the 3elgi
| Goyernmont OF tho eutire innocence OF Mr.. G.
| ~ Rollins and MIR. H9rmans i:i connection with
| the negotiation. and they accordingly without
| delay advised their Government u their belief
| and forwarded the evidences mentioned. And
| we advised that upon receipt OF tho evil
! dences forwarded the Belgi in Government will
| discharge Messrs Rollins and Harmans from
| custody.
1t IL with much regret we compelled 20
| undergo so much publicity la the matter, as
| well as the loss OF the moneys advanced by US.
| ROLLINs BROS. & Co.