The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1877-08-16
NEW York Herald, 9Th inst,l

lN'NW
A case came to light in the District Attorney 8
Office yesterday strongly illustrative OF the Temp
atlons to which merchants struggling hard against
fate are oftentmes subjected, and which, u yield
ed TO- Invariably terminate In misfortune ana ruin
| A Young man named Frederick Maxwell, success
sor TO the firm Of Maxwell & Payson, who for
twelve years carried on the business Of Wholesale
fruit dealers at No. 200 Front Street. some two
years ago started on his own account II would
appear that his reputation was un'arnished and
that he enjoyed great confidence In commercial
circles several banks being always ready TO anord
him every reasonable accommodation. In con-
junction with several others, however, he suffered
from the depression Of the times, and about nine
DAYS ago made an assignment OF his properly
Two days later he went TO his lawyers, Messrs.
Chamberlain, Carter & Eaton, and communicated
TO them the startling fact that, In trying 10 save
himself from impending failure, he had negouat
ed forged acceptances TO the amount OF sS3,OOO TO-
wit-S2O 900 on the Metropolitan National Bank
$4,000 on the Market National Bank, and $4,000
on his former partner, Mr. Payson He expressed
the desire that all the holders Of the forged paper
should be called together and all the facts OF the
case frankly set before them. This done he pro-
ceeded to his home at southold, L. l., where re-
sides his wife and FIVE interesting children. On
Friday last he returned 10 the city, where ne met
his creditors and confessed the entire TRANSACTION
to them. According TO the stI.emento OF Mr.. EATON
one Of Mr.. Maxwells counsel, the directors OF the
Market National Bank, AZ their meeting decided
to institute criminal proceedings and, having de-
termined TO have Maxwell indicted, Mr., Eaton
urged the directors to take no steps In the matter
Offering in behalf of Mrs. Maxwell to make resti-
tuition by placing at their disposal the entire OF
her property. The directors took no furlhersteps
until their next regular meeting Meanwhile
Mr.. Eaton again went to the directors ofthe Mark
ct National Bank and submitted full statement
of the assets and liabilities CT Maxwell, together
with certificate from W. A. Harding, an expert,
showing that the money ootained on the forged
paper had been used by MAXWELL In the legitimate
channels of business The directors, however be-
lieving they had duty to perform toward the
community, finally resolved TO proceed against
Maxwell on criminal charge, upon neaIlng I Oh
This decision Maxwell himself communicated
with the District Attorneys office, whereupon
warrant for his arrest was intrusted 70 detectives
OConnor and Field, who took him into custody.
Maxwell, accompanied by his vile, appeared be-
fore Assistant District Attorney Bell. Alter an
examination ofthe facts the prisoner was COM
mitted to the Tombs. Mr.. Gilbert. cashier oi the
Market National Bank, went before the Grand
Jury Yesterday to testify in view Of theindictment
TO be found against Maxwell, but tns matter Will
not be taken up for deliberation until to-day.
The Transactions,
II would seem that Maxwell had an account In
the Market National Bank for fifteen years and IL
Is said all his dealings with that institution nave
hitherto been Of the most satisfactory character
MT Eaton said that while the directors expressed
great sympathy for him In his misfortune, they
considered in view of the circumstances, they
had no other course open 70 them then the que
they pursued. Mr.. Eaton further stated that MAX,
well never failed before, ana hsd always $1,000
well in commercial circles, his financial emDar,
rassment in this instance having been brought
about in legitimate way and not through any
reckless speculation. HIS failure amounB 10 ABOUT
s660O0 including the forged paper, ana MS nomln-
al assets are set down at 540O0 the estimated val
ne of which is $4,000. 1t was further stated by
Mr. Eaton that of late Mr.. Maxwell sustained CON
tinual losses owing to tho dullness OF Ine Hult
trade Drafts were drawn by Maxwell on nisOwn
customers,and had them discounted at lne MapRet
National Bank but the forgeries In the Melrop0'
Titan National Bank were negotiated tnFOugn
brokers' AS Maxwell was leaving the District
Attorneys Office for the Tombs yesterday evening
he seemed TO feel keenly his uniorunate p0Sltol;
When arraigned before Police Justice emlth ana
asked to plead he said "All that is stated IN the
affidavit Is true. ! am guilty" only one com
plaint was presented against him in the ponee
court-vz., that of forging the acceptance 0i b:
Dannemiller & SON. Of Canton, Ohio, TO bill OF
exchange for Sll5S dated July 9, payable IN sixty
days Detective Field, however, stated 70 the
Court that the total amount OF the iorgerles was
S38 600 The Justice remarked that in fixing the
bail he could go only by the record, and would,
therefore require the prisoner to justify In $1,000
Maxwell promptly replied that he didn't T. care for
bail He was prepared TO go to prison. The Dall,
however was fixed in the sum named
In appearance the prisoner is not more than
thirty five years of age, although he is iortytwo
years. He is apparently man of education; He
seemed much dispirited at his ruin, but eVlnced
a determination to abide by the consequences OF
his crime unhinchingly. He was committed to |
the City Prison 10 await trial.