Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-04-13


Ryan Sentenced for Two Years. Bloody
Row at Minneapolis.
S. Angler Chace has for years been one of the
most active citizens Of Fall River, Mass. He
was member of the House in 1865, and of the
State Senate in 1867 and 1868; is a member of
the Baptist church, and has been Jealous i'll re-
l'glous and benevolent movements; is president
of the Five Cent Savings bank of Fall
River, just now under cloud, as
to reputation but said to be secure; is also u
director of the Fall River Manufacturers Mu-
tual Insurance Company, and of the Fall
River Spool and Bobbin company; and until
lately was treasurer of the Fall River Manu-
featuring Company. In 1859 the Union Mill
company was started in Fall River. and Mr..
Chase became its treasurer. Their mill en-
ployed 500 operatives, and its weekly pay 70 |
amounted to Sl3.4o0 while its annual product
has been II, 500, 600 yards of what are techni-
cally called print cottons. Out of the earnings
OF midi No. I. eniA No. q was built,
the stock, the par value of which is 81 600, was
lately quoted at 5000 to $4,000, and the COM
pany's paper was readily discounted by New
England banks at low rates
rive Boston banks were the principal holders
OF the Union Mill company's paper. Recently
they declined to take any more. and Mr.. Chase
after valniy trying to borrow $4,000 calling
only because his eagerness caused sus-
picion) was obliged to let one of the
company's notes go to protest. Then
came an exposure and Mr.. Chaee's confession,
For three years he had kept a1oat an overis-
sue of the company's notes, with his endorse
n cat, the amount steadily increasing until it
had reached, at the time of the exposure, $780,
0U. To this am olnt, and probably $4,000
more borrowed on a verbal engagement in the
name of the company as a temporary accom-
mediation, his personal liabilities are also
known to be heavy. The stockholders are in
dlyidually liable and at least one, and prob
ably more Of the directors. will lose their entire
pany's cash and concealed its loss by the over
issue of notes.
.Nora Developments.
FALL RIVER, Mass, April 12.-some further
developments have been made In the Chase do
falcation, it beiag shown that the control of the
mill was in the hands Of Chase and his immed
late family, Mr.. Chase holding IL shares in his
own name and controlling others, the directors
being comparatively stockholders. The expense
of building new mill was pushed through by
him against the wishes of the more conservative
directors. They were out voted and through
his desperate efforts he was enabled to float his
BITS on the market where the directors were
but little acquainted.
A stated his wife knew nothing of his en-
bezzlement and all her private property will
be swept away by the treacherous action of her
husband. He also induced his brother-in-law,
| N. 3. Durfer, treasurer of the Fall river manu-
featuring company, to allow him to draw
against $4,000 with goods sold by the corpora
ton of which Dnrfee is treasurer, and the
! latter is placed in the position of a defaulter
unless the amount is restored. Durfee has
| been invited to resign his position.
| Chase has remained Mt home SUFFERING from
| intense nervous prostration, and declines to
| make any statement. It is said he spent $780,
900 in paying debts of the estate of the late
DR.. Nathan Durfee, of which he is one of the
executors, but nothing is known as to where
the balance OF tho money went. The direc-
| tors, however, propose to sift the matter to the
bottom. The creditors of the Union Mill COM
pany are not confined to the banks. Kilburn,
Lincoln d Co. are creditors for about $50, 0OU
for loans, and Messrs. Whiten 100000 for
carding machines. Various expedients have
been been suggested m to set. settle With the
shall mako an assignment of its property
ind the directors of all their individual prop
erty to the trustees to hold for the benefit OF
! the creditors and attempt the experiment Of
working out the loss. The creditors. of cou-se
| to grant an extension running over severa
years. Another is. that new company bt
formed under the present corporate name. u
carry on the business, but some of the stock
holders have feeling that nothing should II
done until a full and complete di covery
is made of all the facts. Henry tearce o
Providence, who attached the MILL assentet
to-day to allow the mill to run, but after to
morrow it will be shut down indefinitely.
It is not likely that Mr.. Chase will be PLACED
under arrest until the directors have exhausted
every possible means to discover where tn,
money has gone. 1t is considered here he ha
nothing left, but in addition to his defalcatiol
| J. 10 he has fhe als =,
several requests which he has received in pas
years. When these are considered in conneC
ton with the last enormous defalcatior
Chase's Interpretations will largely excee
the present estimate.
The general feeling here is that the wors
feature of the calamity is the depressing effet
, it will have on Fall River manufacturing il
terests, but there is determination espresso
by the corporation directors to adopt such pre-
cautionary measures that similar disasters wi
hereafter be impossible.
: Special Telegram to the Giobe]
TWO YEARS.
= W1SoNA, Mimi, April 12.-Col. Dad Rya
a convicted of manslaughter in the fourth degr
the penicentiary at hard labor. Ryan thank.
), the jury for the just and mild verdict. II
! criminal cases are now all finished.
STILL HOPE.
: HARRISBURG, Pa, April 12.-The board
prisons having informed tho governor of
action in the Kehoe case, the warrant for tt
o execution has been recalled pending the fin
re decision of the board.
y ABsCoNDED.
II DENVER, Col, April 12-Later develo
IS ments seem to conclusively show that t
d. ., First National Bank, of Colorado Sprint
d will not be weakened by the malversation
q Mcintyre, the Ascending vice president.
new set of officers have been chosen for Il
I'd bank. and its affairs are believed to be OF
al sure footing. No cine to McIntyre's mo-
5: ments has been obtained, but it is suspect
81 he has gone to Europe.
ng BAD TRADE.
CNc1sSAr1, Ohio, April 12.-Yesterd
ed George Mckay alias John W. Scott, "
was serving term in the Hamilton coul
S. Jail for robbery of the postoffice in Or,
county, Ohio, was pardone out by Presid
on Hayes and taken to Mt. Vernon, Ohio, VIII
mt he will be tried for the murder of John ]
r. Cormick, a wealthy hardware merchant, &C
nv mitted in 1875.
ar FcRaERY,
,he R1cHMoNp, April 12.-J. D. Clay, clerl
IN, the county court of Halifax, and former
member of the legislature, has been arres
- on charge of forgery in manufac,ul
- pension claims against the government.
see MoLL4E MAGU1REs ARRESTED.
~, ,us suSEuRY, Pa, April 12.-Peter McMa
me- and Jack G'Neill, Mollie Maguires, have
big lodged in Jail on the CT s.ge Of being i'm
aili Gated in the murder of Frederick Ee:
the near Shamokin, December 10th, 1874.
other Mollie Maguires have been are.
charged with burning schwenk's coal Ii
I. er at Mount Carmel in June, 1876,
! Of grea1E cP1s.