The New York herald., 1879-02-26
N. FRANK PAIGE.
How a Boston Jobber in Shoes
Swindled His Creditors.
HIS PARTNERS TESTIMONY
Goods Procured on Credit, Invoiced to the
Partner and Shipped
[py TELEGRAPH TO THE HERALD


ouently within the past few months to mention the
name of H. Frank Paige. who is under several indict-
ments for swindling his creditors out OF about.
100000. The details of the alleged swindle have
already been given. as also OF the arrest OF
gang of straw bailers who made several Intellectual
efforts to get him out of prison, for which
they are at present languishing in Charles Street
Jail. The trial at present before Judge Col
burn, of the Superior Criminal Court and several
witnesses have already testified. Last September
Paige bought largely of boot and shoe manufacturing
houses here representing that he had special part
ner who put into the firm s5O 600, and that he had
$4,000 surplus himself, making working capital OF
$4,000 cash. After he had the goods delivered
at his store he arranged with one Charles T. Stet-
son, formerly bookkeeper for him. but ut the
time of the transaction partner. to ship several
lots of the goods to Baltimore and other Southern
points in his name. He raised considerable
money thus. and when the plan was perfected and
his schemes likely to be discovered he it is charged
burned his books and sent Stetson to Europe. The
latter got back few months ago and made state
ment which put Mr.. Paige in very uncomfortable
position. In his testimony before the Court Stetson
makes out very dark for his former partner.
GETTING READY TO FAIL.
Among other things he said Paige told me that
he could get goods to the amount Of S15O000 by CIV
ing his note and afterward settle with his creditors
for about fifty cents the dollar Paige purchased
goods after July of fifty different firms had
conversation. with Paige the first week in August
relative to sending goods to Baltimore and other
places; Paige ordered me to send goods to Phila-
delpha and Baltimore and to ship the goods in my
name and ask them to send me by return advance,
and instruct them at the time to sell them
for my account, and during the season up to
November made several Shipments; the second ship
nent was made about ten days after the first ship
ment don't remember how many shipments were
made the last week in October; in this shipment
there some goods from Pierce Son. Holt. Jr..
and others some of these goods were brought into
the store about week before they shipped;
Paige instructed me to make out all these invoices in
my name and also the bills of lading as he did
not wish his name to appear; the latter part OF Au-
gust he ordered to ship these goods in his name,
but to invoice them in my NAME as he had heard
that it was rumored that he was going to fail.
Stetson gave list of the firms from whom Paige
had bought goods and those to whom consignmcnts
had been made. Among the latter the hrm of
$4,000 OF goods had been shipped. During the FORE
Of eean
continued his story and said that Paige
had told him that Mr.. Stern had agreed to
take the goods at the cost price, seventyfve cent
to be advanced; goods valued at $4,000 were thus
sold. the same being bought by him of parties in
Haverhill, Lynn and Boston to fill his consgnments;
Louis Stern, one of the firm of Henry Stern Co.. CT
New Orleans had office in this city; witness knew
goods sent TO Stern & Co. were in Paige's
name; there were goods shipped to Park.
tSe o told Witness to BE- as in q
failure the creditors might trace them; in shipping
the gSSas a < to b na Of
shipped goods from Paige's storc these goods were
sent in October. and consisted of property bought
of Hill Co., Murphy " Son. Houghton X
Co.. +. L. Wheeler and man named
smith; samples of goods bought by Paige Of
Grotzan. Mitchell & Co.. Of Bsltimore Paige said he
must round and get slippers, which he finally
got of Son, of this city; these latter goods
were sent to Grotzan. Mitchell Is Co.. Stern Co..
New Orleans, and Park Lynch Il Co., Galveston and
the rest were sold in the store in Boston, witness
could not rccolect whether or not Paige told him
about the terms which he Paige made the pur-
chase.
INVESTING RESULTS SALES.
After detailing several other transactions Mr.. Stet
showed how Paige tried to get money and keep it
away from his creditors. lie said Grotzan. Mitchell
4 Co. remted by check gave the check to Paige; he
told to indorse and did he returned it to me
in my name: said his lawyer told him that it
would not do to deposit any more money in
deposit; he told me to select either the Faneuil
Hall or the First National Bank where there were
posted the check in the First National Bank and told
Paige of it, he replied that is all right gave check
from x J. s. Bunting to Paige when gave him the
Mitchell check; this check received advance
on goods consigned in my own name on the 9th OF
August. this check is dated August 10. but not
handed back to me; opened my account ut the First
National Bank the 3oth of August; received other
checks from Grotzan Mitchell 4 Co.. and
all but two of them were deposited in
the First National Bank; these two were
received while in Baltmore; the first week in
September Paige and talked about the money in the
First Nationa! Bank and he said it should be put into
United States bonds drew the money and bought
Government bonds: this was September Z and
bought that day 900 from Brewster Bassett Co.;
bought the second lot two weeks later handed them
to Paige he asked If they kept record of the num-
bcrs and names. and replied In the ALTERNATIVES; told
him that they knew me there and he told me TO buy
the rest somewhere else; bought the rest of Charles
A. Sweet Il Co.; bought $1,000 in bonds from
Brewster Bassett Il Co. in all; bought from Sweet
Co. between September 3 and November 2; altogether
bought s23. 900 from Sweet & Co.
BURNING THE BOOKS.
Stetson testified as follows on the question Of de-
stroying the books gel had conversation with
10 he carried out; Paige stated that lie had been
thinking over different plans and had consulted
sppear; told him / did not like
that plan. as had been hero so long; he paige,
take care of mo; advised him to box up the books
and send them to some fricnd he stated that that
would not do. that the books should be
] did not like that course; Paige replied
that partnership quarrels were of frequent
occurrence; then spoke to him about our copart.
ership papers that did not feel safe under the cir
cumstanccs; next day he brought me the coparncr-
ship papers and signed them the partnership papers
and signed between October Is and 81. 1878; these
were the papers signed; was at the store when Mr.
Coolidge called he pressed Paige hard to settle his
account; Paige said he would his counsel and try
MYSTERIOUS DISAPPEARANCE.
day or two afterward he lPagc) informed me he
had seen Mr.. Avery, who told him that the only way
bo could get ont of paying Coolidgcs account was
tor the books and myself 10 disappear. and for
leave letter stating l had left: he
promised that the letter should not be seen
Ivy any party but Mr.. Coolidge; he stated
that he wanted me TO 20 10 Baltimore first. and
20 leave before Wednesday, he had sgrecd that day
10 show Mr. Coolidge balance sheet; this Satur-
day; he then asked me II had collected all that
due on the consignmens 10 Stern & Co.; he asked
me II 5000 would do; said no; he then offered
me 10000, which accepted he then handed me
two notes ON Stern Co.. one for $500 and for
rOi
which he had just received then weut over tho
books aud then took them TO the in the OF
the store. where we commenced TO burn them all
the books were burned with the exception Of the
ledger.
LYING LETTER.
The following lettor delivered 90 Paige on the
ed day OF November by mel
NOVEMBER o. 1873
int, .,,.u ~