The sun., 1878-10-16
fessed to selling the stock and acknowledge

N"S. Nno III btpulb CutTll =
custody last night 1T is understood that
ex-senator sSr Cross Mr. Heass lawyer will move
other partners was arrested.
Mr.. Haar said that his firm recently got into
business difficulties which resulted in heavy
mont They settled with every one except
Belden Co., They had taken orders from Bel
long the two firms had had extensive business
relations. When the firm became embarrassed
md settled generally. Belden 4 Co gave them
told to do. what they liked with these
or these shares WReS nTS
On Saturday Bclden Co called upon Haar 4
2 Hsar 70 sSste M put tasy WsrG Unable to do So
Mr.. Haar proposed TO surrender certain securi-
ties in liquidation OF the account This surren-
firm held. The Union Pacific. 1000 shares,
which Haar Co. had received. they had sold
iSr about SO. After this, coppromiso had been
liaar out. with him. Beden then said
e. him when they were alone in the street:
give you chance 70 20 ahead again We will
help YOU along IN this way. We want you 70 40
On % "pd Si buy all the egg g2d y2G can at ioi There
TO lO2 at least. To-morrow Monday morning
there will 6e announced the failure OF a large
financial institution. That will help. the Hrico
up. So you must buy rs early and as fast as you
can. On the other hand, we want YOU to sell
sides the Continental il being organized that
will knock the spots out Of Western Union"
Haar replied here that Western Union was
shares might send It down to 50. Beldcn
said; Go ahead. sell-sell, and sell early and
LIVELY. or IL will get down to 80 before IL o'clock.
The financial failure will bc out before noon.
and when that ia out everything will take n
Tumble Bsldsn told MIN iaTther TO sell 1000
6s'.. and 5000 shares Of the common at the best
price possible; II would. Belden said. go down
close to 80, Haar,s instructions were that his
firm should not do any Of this work itself. but
should distribute the buying Of gold and selling
said It must bo done in such way that not
Of. q BSsdsa 4, !, Co; T6s, D'. i. Morgan crowd
plot and early on Monday morning set about
he &ad ied his ' part IT Of 0tS tGs programme o. mine
and sent minutes ot all the transactions TO the
olilce Of BGlden 4 CO About an hour ,sitor sitor he
TO their ofilce and was met by Henry Belden.
Jr.. one Of the junior partners. who said that
time 10 look over the advices then. He re-
marked. too. that Haar & Co. had made mis-
.Scad have bessn Ta he said
Of the mistake their calculations had been up
set for the time being, but he presumed the
Haar 10 take the minutes back TO his Office and
arrange them Hear did SO and in an hour re-
hour they were returned % him, aud across
the envelope were the words: There must be
some mistake, these nave been returned 10 you
once" The transactions Of which the envelope
contained the minutes were as follows:
purchase 9; 81 S9 gold At l'l oie M 70 :, sea
.ico Notihwcstern common At IS to S6i. sold t,s'O
Western Onion at ~ to s7sa
Upon the return OF the minutes with this
den & CO. 5 ofllce. He found Connor only there.
the others having gone home Connor said he
Haar 10 call at his house that Monday even
ing. but they finally arranged 70 meet and fix
INK before the Exchange opened Haar again
went TO the office of Belden Co. Saw Connor
eonlyIthe others had not yet arrived Conpor
that 10, would be too late; he must
tect the bank. He went away satisfied that
Beiden X GO. were going t, r"pudiate their
once to protect the bank. The firms overdraft
et the City Bank was according t. Haar about
bank securities sufficient To satisfy il. Haar
posting his securities in the bank made his as;
that i Belden 4 Co. got hold oi him again they
would try % squeeze him yet more The trans
SsVa loss y $50 ool IL S Estimated % tho liabilities Of
his firm at from $4,000 70 t2OO,000, md their
Go. are terribly short Of stocks and that this Job
| which ruined his firm was put upto enable them
to cover, Mr.. Haar says he will make state
ment 10 the stock Exchange.
Haar Co. began business four years ago
| At first the firm was composed OF j II. Haar
and j. Hengstler, but afterward G. T. kuehne-
mundt was taken into partnership. The two
nrst named were connected for some years with
TH1nS5 ,SS Co. aSd & so%pn m h4 Gould
regarded as shrewd business men. Mr.
Kuehnsmpndt was tho active member OF the
| sented Helmers. McGowan & Co.. who did much
3f Bro%n Bros gold business in the Gold
sci in the Sherifs ofce. that his liabilities were
| $3.50 900 and his assets $40 900 Afterward he
slightly altered his agures; The house has
such ash, eading and PENNSYLVANIA. and has
pirSet phi felseGrsphlEc rGommgnicaton with tho
Although not strictly Connected with the
transactions above recorded, the following IA Is
collated from the books Of the Registers once
Mr.. Vim. 4. BE lden transferred 70 VIM. Elston
Magee, who retransterred Il 10 Mrs. Emma Il,
Z house and lot on the south side Of Forty
fifth street 100 feet west OF Fifih avenue.
% rse5 Of Joe to- wm Acr su Aso
in the same way and to the same persons, house
and LOT on. the westerly side Of Fifth avenue.
street eighteen feet four inches BY seventy-six
feet. .moTtgaged for 900 10 John II. Sher-
wood, The deed was filed Sept, 2G,
1t was said in Wall street late in tho afternoon
that Haar K Co. had sold 5000 shares Of Union
Pacific belonging to JAY Gould. II IS said that
heavy 70 carry and that n his dssre to ls1d
IlddT 0 1p.t ubluk ~ hS u LuhIklu lpI ONUtI
spoculations few days ago they called upon
him las the story goesl TO make good def
cheney in the margin. and. on his failure to do
SO. sold the stock in the street to protect them
selves, Gould hypothecated il NJ 30, and 1t was
sold for 66 but whether the difference WAS
turned over 10 Gould Ia not known. II is
thought that the Governing Committee will con-
slider the flaar Gould question to-day.
Since Saturday rumOr in Wall street has been
busy over the promised failure Of some large
financial institutions. According to the aver
ment of Mr.. Haar. Belden & Co. counted on the
failure on Monday Of this concern Tor the sue
cess Of the stock operation TO which he was
party. and on account Of which he failed yes
terday. The rumor is supposed 70 have arisen
from the fact that tho Mercantile Loan and
Trust Company Of l20 Broadway has been m
dergOing an examination by the Banking De-
partment. The examination has been in pro-
grcss for several days. and the report will be
forwarded soon ID the department The exam
ination is being made by Examiner A. B. Kirt-
land and Special Examiner William Lummis.
The institution is not strictly trust company
since II does not receive deposits. One OF the
examiners says that the injurious reports are
entirely unfounded, and that the company is
perfectly solvent Its PRINCIPAL business has
been 10 lend money on estern mortgages.
A GLIMPSE UNDER A MASK.
Little Hattie EnEers IdentincatIOn OF an