New-York tribune., 1882-02-20
MR.. CLARKE ASSERTS HIS INNOCENCE

William G.. Clarke has been employed as con-
fdental clerk by the stock Exchange firm Of Colbron
Day & Field. at No. II Newest. since January
l. at which time the house began bust
ness. The junior member Of the firm is Cyrus W.
Field. jr Mr.. Clarke was formerly senior partner
in the firm Clarke, Friend Fox Co.. wholesale paper
dealer. Chicago, which established years
ago with the aid Of capital from the Friend Il Fox
Paper Manufacturing Company Of Cincinnati. The
Chicago house did business OF between 100000 and
SsOO,O 600 year. Last November Mr.. Clarke wound up
the affairs OF bis firm and settled with his partners and
then he came 10 New-YOrk.
Dispatches from Chicago published in THE TRIBUNE
Yesterday accused Mr. Clarke of misapprOpratlng the
receipts Of the sale Of the stock and business TO
the Butler Company, and said that he lef5 the
firm with outstanding debts amounting to S13OOOO.
A list OF the creditors included the following firms:
Campbell Smith, at No. 1l2 Nassaust., $4,000; Will
lam H. Parsons also Of this city, $1,000; Rochester
Paper Company, 100000 Hampshire Paper Com
pany, South Hadley Falls, Mass, ss,OOO Whiting
Paper Company Holyokc Mass 81 600; Patton Mills, of
Neenah, Wis. $1,000; J. H. Wren Co.. bankers, Of
Chicago, 81 9OO and Batavia Qll.J Paper Company,
$4,000. 1t is also said that several banks In Illinois
losers to the aggregate amount Of about 100000
The news of the inability of the firm meet its
ing liabilities was surprise TO many OF tie creditors
The general disposition however Ia to defer action until
the arrival Of Thomas Fox the only surviving memIer
OF the firm besides MI Clarke; from Enrope
De IL expected 10 reach this city winn
day two. His son, MAJOR George b. FOX. mas
been taking charge OF his fathers affairs in his absence
The senior member Of one OF the largest paper deal
ing in the country, who Is ont OF business,
said yesterday that he knew nothing of the
condition of MIR Clarke's firm, but about two years
ago he saw some OF the figures OF the business
which submitted 10 him by Mr.. Clarke,
and thought that the expenses were TOO heavy for the
size of the business. Cyrus W. Field last evening said
tia; after reading IN the morning papers the accounts OF
the trouble of tie Chicago firm he had held
conference with Augustine Smith, OF Camp
bell Smith; Mr. Solbrony; OF c,I1Es Gs s3n,i Sad
denied the truth the charge against him. aud had Of
fered to produce to-day full release from AL Liabilities,
which he had obtained from the junior members of his
firm when their settlement made. Mir. Field
thought that II anything about Mr. Clarke had been
wrong. he would have received information OF IL
from Mr. Day. OF Chicago, VINO was member or the |
New-York firm of Colbron, Day a Field and who was
aware OF his Mr. Fields senstiveness 70 tic interests OF
his son. ~,
Al the Burlington where b. boards V. C. Clarke last
evening denied. TRIBUNE reporter that he lad ils
appropriated any OF the money or Ills nrin as had
been published, that he had scretly left Chicago
The published story was or missatements and
gross cxaggerations The actual net liabilities OF the
100000 Mr.. Clarke said: MY partners and myself
agreed To settle our affairs IN last october, anu on
November l the firm wound up' then sold the |
good will OF the business and our stock TO the |
al. OF "A business that made The amount paid
was about 100000 instead OF $4,000 a. reported and
al but $500 AND TI' FOX PAiq IeceiVed notes %oTt6
Sg5OOO In November the statement 0f the |
FIRMS condition, which should have been furnished |
ne, was delayed. In December examined our books |
bills receivable were fewer and the Ds payable larger
;han had expected. About the middle or the month l.
with young Mr.. Friend and young Mr.. Fox, |
went over the books, but without the as |
Inc net liabilities at the worst, were |
only $4,000 Obtained till release Of al liabilities