Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-12-20
THE "POlsTEas~ VICTIM.
Chicago Times.

Zines. 1hey form the usual story OF
speculation, losses, efforts TO redeem
them, and further losses finally in
yolving the principal character in
disgrace, and bringing him within the
clutches OF the law. The recent deal
on the Board aud the heavy decline
IN corn are supposed to be the causes
leading to the young mans exposure.
Less than two weeks ago, when the
commission firm Of Kreigh & Davies
failed, William Corwith, the we'll
known pig lead manufacturer, was
said to have been caught to the
amount Of several thousand dollars.
This was, however, denied by all the
parties. While their disclaimers were
. ecepted, it is now surmised that
Gordon Corwlth, Nathan Corwith's
son, was actually involved in the firms
failure, and the developments that
have followed il would seem 10 con
firm this. The facts as cleaned by the
Times are that young Corwith has
been specializing on the Board for
some months past, and met with a
series of losses, which exhausted all
the funds he was able to command
In November, when the drop 10 stocks
was at its lowest, he confded to a
bosom friend, it is alleged, a scheme
ny which the fortunes of both weuld
be made. The young gentleman to
whom young Corwith's plans were
conhded was the son of A. Booth. the
FISHERMAN. The Senior Booth has
been Ill for some time, and is at pres.
ent IN very precariOus health. His
business, IN the meantime, has been in
the hands of his son. Young Corwith.
IN the latter part of November, went
o young Booth aud represented that
MI. N. COrwith was a member
OF a syndicate which had a big
thing in stocks on hand
waiting for it to develop. The son
stated that he had received a pointer
rom his father, and with $4,000 or
Sl0,O0O could mako his friend Booths
and his own fortune. Young Booth
was to furnish the meney and youpo
Corwith was to furnish him A peroent.
age OF the profits. On this represen.
tation Booth advanced him S86OO out
OF his fathers business. The follow
ing day young COrwith returned and
reported that the scheme was working
satisfactorily, but a little more money
was needed to reap its full benefits.
Booth, jr advanced $4,000 more from
his fathers business. The following
morning Corwith, jr., had another
conference with young Booth, The
Investment promised well, but il
would be necessary to put some thou
sand dollars more 10 Immediately to
prevent the possibility of losing
Young Booth drew on the elder
Booths exchequer to the amount of
$1,000, which was at once put in young
Uorwith's hands. He departed, but
returned the same afternoon and re-
ceived $1,000 more from Booth, who
who beginning to feel a triae anxious
about his Investment. The total sum
lntrusted to young Corwith was S22,.
OOO, and young Booth had not vet
seen the color of the percentage Of
profits which he was to receive in
consideration Of the capital furnished.
That same evening Corwith came to
him and made the astounding confess
sion that every penny Of the $22, 600
was gone and nothing to show for it.
lie told the story of his DISASTROUS
speculations, and'how the mount OBJ
tanned from his friend had been blown
In N tue short space Of three days in
a vain attempt 10 recoup himself for
former losses. Young Booths as
tonisment was so profound that it took
him several days to get over it, and he
yielded to COrwith's pleadings to keep
the matter quiet till something could
be done, the more SO as the elder
Booths health made it necessary TO
keep all information from him. But
asdays passed on and no provision
was made to reimburse him, he con
Gded his trouble to his friends, who
advised him to take legal steps imme-
diately. NCorwith was informed of
this intention, but had no reply to
make. Accordingly, on Tuesday an
order for his arrest was procured
by Messrs. l.. H. Bisbee
and briggs, Booths counsel
from the Superior Court. Young
Uorwith was represented by Melville
W. fuller He gave bonds in the sum
Of $4,000, and, therefore, escaped
Imprisonment in the county Jail for
the time being. Through the high
standing of the persons interested, and
the Influence Of the counsel on both
sides, the matter was suppressed in
court, and every effort was made last
night, TO keep the facts from becoming
public.
His story was that he had long been
acquainted with young Booth; that
Booth had frequently given him money
to invest in all kinds Of speculations,
and that lately both of them had lost
money. II told him. said Gurden
Corwith, that | had been unfortun-
ate. and that his money, with mine.
had been sunk in my unfortunate in.
yestments."
Have you received as much as
$22, 900 from him lately.2'
mo, | don't think | have all in ono
sum. He has given me money to
invest at different times during sew,
eral years past"
Has he lost $4,000 %recently?r
Il don't think be has. He has lost
more than that altogether, although
the money has not been advanced"
Gurden indicated by his converse
ton that he did not know what stems
Mr.. Booth contemplated taking. he
said it was simply a matter OF specu.
alton by which both of them had
lost money. He said he had not seen
the papers in any legal suit, and there
tore could not speak about Mr.
Booths intentions. lie had nut his
case in the hands OF a LAWYER. and
that ia all he knew about the matter.
He then said he had heard incident.
ally that Booth was going to law about
the matter, and therefore he had gone
to his lawyer. He was anxious that
the matter shouldbe kept quiet.
A Ridiculous Insurance law.
NJ ~ o.