The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-02-13
A Gigantic SWindle-Attempf TO
6upe German Bankers.


.o,r..,i. S.;ndIe-Attemnt 10
Supe German Bankers.
Under the General Incorporation laws
Of the State Of New York, many swindles
have been perpstrated by bogus corpora.
tons. The 1fnes Of Monday last ex.
poses a large fraud about to DO perPe-
trAted upon the people Of Germany BY
ono Of these concerns, calling itself the
Baltimore & Clinch Mountain Coal Com.
plny. The enterprise hinges upon I'M.
settled titles Of lands in West Virginia
and Kentucky which a gang Of swindlers
here has used extensively in the forma-
ton Of incorporated joint stock compa-
mics for mining and transfer purposes, as
such flooding the country with bonds
which purpOrt to be first mortgage bonds
90 very large tracts Of land in those
States. The land in parts Of the two
States mentioned is covered by grants
dating back to ante, Revolutionary
times. The tites have never been
out OF the families to whom the
giants were originally made, while
nan actual settlers occupy the lands
a. ~sauatters. These facts became known
~ an ~enternrisipv genius named
Charles O. Richardson, now confined in
iail, implicated with W. 81. Gildersleeve
and others in drawing from the United
States Treasury the back interest due
upon certain registered bonds, Richard.
son at once proceeded to form companies
Of the kind mentioned. The title deeds
10 the lands held under the names Of the
different companies were forgeries under
these titles. This last Company Is thus
formed. The incorporators are W. Il.
Gildersleeye, now In Ludlow Street Jail
under ,ndictuen. for a scheme to rob the
Uaited States Treasury, with Henry W.
jacobson audthree others. There are no
papers on record to show who the officers
are. The Company came into existence
about a wear aso, and, according TO its
certificate Of Incorporation, It 10 to cOntin.
ue in existence for the term Of
twenty years. Coupon bonds were Issued
10 the number Of 1000. Their face value
I, $1,000 each, secured by a frat mortgage
on e5oOOO acres Of land belonging to the
Company, lying on the headwaters of the
Sandy and Cliuch rivers, in West vir-
GINA. The bondholder was entitled to a
deed for $40 acres Of land whenever any
coupon was duo and upsid for ninety
days. This clause makes these bonds
peculiarly desirable to German immi.
grants who will buy them up and come 10
this country with the intention Of settling
ON their newly acquired possessions. But
neither on the face Of the bond, nor on
INV paper on file in the County Clerk'a
Office. can any information be derived as
10 where the land is situated. The trus.
tee named in the boud-charles G. Lewis
lis a man Of good reputation, who
has been inveigled into this specu.
lution by the misrepresentation Of
It's promoters. There arc undoubt-
eddy other men connected with the
Company who believe the titles Of these
lands rest in tho Company as represented,
and who are respectable and honest bust.
ness men. As the people Of this COM
muni.y have been so frequently imposed
upon by fraudulent bonds, this market
was not deemed good to introduce the
bonds Of the Baltimore Company, and
the operators thought 1t would be profit.
able to negotiate them in n foreign mar.
ket. A member Of the gang was accord.
ipely dispatched to London, but The
f~ioauciers there we're too inquisitive, aud
the agent crossed to Rotterdam, aud sub.
,%eoneptly visited Antwerp and The Hague.
In none Of these places was he successful.
ae proceeded 10 Frankfort, and here his
nlan met with consideration from the
bankers, and it Is stated upon
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