The New York herald., 1879-08-05
ANOTHER GOOD MAN GONE WRONG.
THE DEBTS LEFT BEHIND HIM by FRANCIS
MAYBIN-UNABLE TO FACE HIS CREDITORS.
Dur

THE DEBTS LEFT DEHlND HIM by FRANCIS
MAYBIN-UNABLE TO FACE HIS CREDITORS.
PHILADELPHIA, August 4. 1872
Mr. Francis Maybin, the active. energetic and re-
( leious young business man, whose sudden dsap-
pearance has been mentioned. left behind him a
large number of debts. aggregating. according to
the reports something like $4,000. Three months
ago Mr.. Maybin believed to be worth sl5o.O0o.
and this, in connection with the fact he in the past
had frequently advanced money to those to whom
he recently applied for assistance, rendered it very
easy matter for him to procure whatever money he
asked for. Having in this way burdened himself
with an indebtedness which he seemed satisfied he
could not Geet, and being man who had always
held his head very high in the world. and
toned to meet his obligations they fell
due. it is the belief that he left merely
from want of courage to face his creditors
Mr.. May at the time of his departure sent letters
to one or two OF his relatives and his more intimate
friends, explaining that he in financial en-
barrassment and was going away, and confessing
judgments for the amounts due them Notwith-
standing the fact that in this way he displayed ques
tionable preferences, yet all his creditors are liberal
in their remarks concerning him. and il he should
return to-day they would all be ready to help him
out OF his difficulty.
No to know positively what was the
original OF his misfortune, but it is alleged
that the bulk of his fortune lost in stock specu
lations Wall street. New York. Inquiry among
brokers Third street. in this city, failed to show
that he had been dabbng in stocks here, and every
body who had had any dealings with him deny that
that they had the slightest knowledge of his being
in financial trouble until his departure from the
city Then it discovered that he had borrowed
the notes of many OF his friends in amounts ranging
from $4,000 10 $4,000. which he had Endorsed and
had ca he'd in bank.
He is the son OK James Aaybin, an uptown manu-
facturer and his father and uuce, Alexander
Maybin, he inherited large fortune. Formerly
he was member OF the firm OF Thornton,
Maybin Co.. manufacturers OF cotton goods
Ut Tenth street and Columbia avenue about
ten years ago, and upon his retirement
from that concern with considerable money realized,
he went into the firm OF Dornan Brothers. n Co.. the
well known carpet manufacturing hrin About five
years ago he retired from active interest in tbs
firm. and became special partner with deposited
In this way he continued his financial connection
with the firm. but being a thorough business man,
and not desiring lea, indolent life. he entered
into copartnership with his brotner-in-law, Samuel
Is. Stinson ana engaged i'll the insurance business,
under the firm name OF Maybin Stinson. In order
better promote their interests agents,
the lst OF last April Mr.. II. w. Brown, an insur-
ance agent of large experience and considerable
patronage was taken into the firm, which now be-
came Brown, Maybin Stinson, and soon they had
accumulated a large and profitable insurance busi-
ness. 1t was clearly stipulated among the three
partners that the money OF the firm was to be in
wise devoted to speculation OF any sort, and to be
devoted entirely TO Legitimate insurance business
MIR. Maybin, however, did not adhere to this excel
lent policy, but continued business of shaving
notes, i'll which he had previously been quite ex-
tenslvely engaged. i'll many Instances using the
funds of the firm. Messrs. Brown ana stnson,
honest in their determination to pursue the
business policy they had adopted, reminded
Mr.. Maybln or his agreement. and subso-
quent interview led to the latters retirement from
the firm on the lst OF July. Neither Mr. Brown
his brother-in-law, Mr.. Stnson, entertained the
motest suspicion against his business integrity but
the fault OF which they complained was that he did
more OF banking than an insurance business,
which in direct violation of one of the terms OF
the partnership agreement. Although he retired
from the firm, the friendly relations OF the three
continued and Mr.. Muybin transacted business with
Messrs. Brown Stinsbn after his retirement. He
left them with no Indebtedness except. perhaps.
his disappearance in way affect tho credit
OF tho insurance firm.
ESTATE
Concerning his present financial condition there is
reason to believe that he leaves enough behind hum
to his deficiencies. His house. which is one
of the most charming residences III the northern
part of the city, cost him S36,0 but is
numbered with mortgage of $4,000 and ground
rent OF 60J0 or the 500 100 which he had invested
with Dornan Brothers Co. it is stated that he has
drawn $25, ,OO0 But this matters not, IL wond
from legal opinion that that irn is responsible
to the extent of hIs original investment. Mr. Robert
Dornan Is related by marriage to Maybin. Besides
his Sixteenth street Residence May bin held
other real estate, which, although encumbered to u
certain extent, Will increase his assets.
or course the great weight OF this misfortune falls
upon Mr. Maybin's wife and child whom he lett
without a word of warming He IL member OF
the Temple Presbyterian Church, at Seventh and
Thompson streets, practised religious devotion at
home, and was i'll all respects good husband and
father 1t Is the reputation that he has enjoy ed the
lite he has lived which people believe that
in little while he will return and face his diicu-
ties.
In January last Mr. Maybn elected by coun-
ellis Director OF the Philadelpn and Eric Railroad
Company, which position he at present retains.