Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1878-02-06
The Case OF Batchelder.

The alleged defalcation and forgery Of James
Henry Batchelder, Of Lincoln, awakens general
interest in this county, as he was born in the town
Of Barre NEAR Plainfeld), from which town his
father removed to Marshfeld, where he resided
for some years. After the son became quite
young man, his father again removed to Barre
village, in order that he might avail himself OF
the excellent educational advantages there in
fitting his son for business. Young Batchelder,
having completed his education, and being OF an
ambitious turn Of mind, ut once removed TO Bris-
to and engaged In mercantile pursuits, and later
became heavy dealer In lumber For several
years his business ran smoothly, and the profits
were large. After the hard times struck him, MS
II did all business, he still continued, gradually
extending IL until he virtually controlled the clap
board and shingle business in this section Of the
country. In the course OF his ambitious career he
bought large mercantile establishment In Bur
lingtop, to which he paid no attention, leaving
everything relating to the business to his clerks.
His connection with the Brandon National Bank
began about four years ago, and by that institu-
ton he was regarded RS one of the best Of their
customers. His notes were promptly met, and the
interest upon the same presumably large), was
pau. IUe OlnteTN VI tilt uhuhi ItEhih-
ing him as a reliable business man, apparently
relaxed their ordinary rules, and suffered his
paper to be discounted without the ordinary and
necessary regulation for so doing The stories OF
Mr.. Batcheder, and the cashier of the bank Mr..
Bascom, do not agree. Mr. Batchelder claims
that after he got into difficulties, the cashier en-
tered into partnership with him, and the two.
together, ran up an Indebtedness to the bank
which Mr. Batchelder was unable to liqudate.
Mr. Bascom, having let down one bar, without
the knowledge of the other officers of the bank,
was constrained by the necessities of Mr.. Batch
elders condition TO go still further, which he ap-
pears to have DONE to the destruction Of his own
reputation and the serious impairment Of the
bank The total Indebtedness OF Mr.. Batchelder
to the bank now appears to be about one hundred
and ten Thousand dollars, and what his assets
may prove 10 be no one can tell The probability
is that they will turn out to be small. Aside
from the loss to the bank, very many Of the mer-
chants and business men of Addison county are
understood to be heavy creditors, having accepted
orders upon him for goods sold. The result Of
the whole business is ~ yet indefinite Mr..
Batchelder's business extended somewhat extern
svely into this county; but the mourners here,
we are glad to announce are very Few. Inc
hearing is to be had to-day wednesday,, before
Justice Knapp, at Middlebury, after which more
will be known about this singular and excep-
tional case
Mr. Bascom says that after the first protest of
Batchelder's paper, he at once wentto Middlebury
and saw Batcheder, who said there must be some
mistake, but that ii would be all right, and re-
quested him to cover them for few days, until
he could set them right, instead of sending the
matter before the directors. Bascom did this,
and was soon drawn in, whence he could not es-
cape without exposing himself Then he had to
keep letting more money to carry Batchelder and
prevent exposure, hoping all the time that the
latter's promises could be made good. His ac-
counts are all correct, and there mas been no
classifying. Mr.. Bascom has always borne the high
est reputation as an honest man and thoroughly
competent cashier.