The daily gazette., 1881-12-07
From the Press.
Stephen Prices Fall.
HIS RELATIVES DEFRAuDsp Oh
b si POSSIBLY $4,000" Or Nsss
TRUST MONEY.

w oNQuEsTIoNED INTEGRITY
SUDDENLY SURPRISED IN GIaAN-,
| TIC FRAUDS, MAINTAINS ST.
LENcE CONCERNING HIS
DIsPosITIoN Or E
THE FUNDS. aro IL
Stephen s. Price, Of the firm Of
Price, Parrish & Co., No. 312 Chest.
nut street, who is under 500, 900 bonds
70 answer at civil suit for property be-
longing to his relatives and entrusted
to him for investment and manage
ment, which they charge him with
having embezzled and dissipated,
has had security entered for him and
been releared from the Sheriff's Gus.
tody. just how much the embezzle-
ment Will aggregate is not yet known.
30 far as court records show, three
separate suitors demand total OF
$S4, 600, although it is almost ascer>
tanned that very little is lef. of estates
aggregating $1,000 which were con-
hded to his care. Stephen 8. Price ia
about 40 years old. He acquired a
thorough business training under his
father, Joseph Price, and uncle Rich
ard Price, who, twenty years ago,
were members of the we'll known and
highly successful dry goods firm OF
Sitter, Price & Co. Although the firm
met with disaster in the first year OF
the Civil War they recovered rapidly,
and Richard Price dying in 1865 left a
fortune of $3.50, 600. Stephen 8. Price
Inherited very little from his fathers
estate, but his highly esteemed BUSH
ness qualifications led to his selection
as co-trustee with DR.. William Hunt
Of the estate of Richard Price.
A Press reporter called upon
Stephen 3. Price yesterday to afford
him the opportunity of explaining his
affairs. The defaulter bore his trying
position with great appearance OF
nonchalance, although at that moment
those whom he had defrauded, to.
gether with their lawyers, were gath
cred in his office endeavoring to extort
his methods and some statement that
would afford basis for hoping to re.
cover their wasted estates.
| "No, the time has not come for o
statement yet. Not now, although
suppose it will all come out in time
would like to say, however, thai
there has been no fraud or default,
although there has been mism an
agement-bad Encouragement IL you
like"
at is charged that you invested trus,
funds in your own namep" the re-
porter queried. -
"Oh, yes," he replied, as cody al
though he were admitting an ordinary
business transaction. ayes, did In.
vest some of the funds in my OWL
name, but ! did that by the advice oil
counsel. That was all regular, but
don't deny mismanagement." vi.
"What lawyer advised you to invest
trust funds in your own name ~ wal
asked.
"St. George Tucker Campbell" b,
replied, after some hesitation, a
though trying to recall the name O
some one who would not be likely tt
deny the impeachment. st. Georg
Tucker Campbell is dead.
"Some of the losers say your short,
age will reach 500, 900.
| hht houSouney Soiu ufs TIC
returning to the company of his credi
tors.
HIS FRIENDS sURPRIsE.
Inquiry among those who had fund
in frice's charge say that they have no
been able to extract any intelligibi
statement from the man 10 whose bus
ness ability they had reposed such unre
served confidence. AS much az the
have been able to ascertain Is that rea
estate was purchased In the name G
Thomas c. Price. Stephen s. Price too
mortgages upon it to its full value an
then Hypothetical the mortgages for a
much money as he could borrow o
them. How he eontrived to scatter Q
much money Is just what they can't fin
out. He has borne the reputation almos
of austerity In his personal habits an
way of life. So far as any of his bushes
acquaintance knew he has no bad hal
Its. Inquiry on the street has develope
nothing. save that he Is unknown they
as speeulator in stocks and his visits
the money changes have been simply a
borrower. Some of those whose fol-
tunes are involved express the belle
Price has "salted away" enoug
money to do him the rest of his III,
With the aid Of the processes Of III
courts all his devious fnanoiering an
business methods will undoubtedly 3
brought to light, but he refuses to aid |
the inv tigatIon with something this
looks very Ike shameless effrontery.
Among his business acquaintances th
defaication fell with almost paralyzin
effect. Although the firm had SO nearl
relieved from the dry goods bushes
they retired their old offices and man
neighbors said that Stephen Price coul
have borrowed any reasonable SUI
from them on note Of hand. As far
has been asesItained he vigorously col
| anad hi maalf To dasnnilinp only hla rel