Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1883-10-11
The Am eriCan Prince.

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ment and forgery in New York, and
is described as a millionaire and the
owner of monster rancho in New
Mexico, is an old resident of Milwau-
kee, and was at one time the partner
of our present postmaster, IL. &.
Payne, in the old firm on East Water
street, Of Sherwin, NOVEL; & Payne.
His career his been a remarkable one.
He started in trade in Northampton,
Mass, wnen 81 years of age. He
made some money by the advance IN
prices during the rebellion, and with
a few thousands went to New York.
AS a Spectator there he soon
parted with his money. He came to
Milwaukee and started the firm of
Sherwin, NOVEL; & Pratt. Without
much capital the business was ably
conducted, and in two years built up
a trade of three-quarters of q million.
The business, splendid as it was, did
not satisfy the ambition of SherWin.
He sold out, went to New York and
entered upon a bold and hazardous
mercantile career. Without capital
he declared his purpose of being the
principal competitor of A. L. Stewart
& Co. Boosting Of unlimited re-
sources he leased and fitted up large
new building on 14th street, purchased
on credit a quarter of million worth
of goods and started In two weeks
he failed for half million, with no
visible assets. He went through
bankruptcy. For time he had not
funds to pay car fare or his lunch.
He soon struck q streak of luck from
a few fortunate deals, and in a short
time was living luxuriously. A gilt
sign bore the legend "SherWin & Co.,
Bankers" and a satin-lined coupe
bore him from his office to his rooms.
Then came reyerses. A clerk named
Phelps had been forging state orders
and raising funds with which to spec
ulate in stocks Sherwin obtained
the money on these forged orders and
was suspected of completely. He was
arrested, not as an accomplice but as
a witness, and confined in Ludlow
street jail for some time. Finally a
friend bailed him out, and he went to
Europe, and his luckless friend paid
$4,000 on his bail bond He man
aged to borrow a lot of bonds and
other evidences of wealth which he
displayed in the window of an office
IN London, which bore the sign "Sher-
win, Banker" He managed to get
peoples confidence and to live in
gorgeous style. The eagerness of
British capitalists to invest in Ameri- |
can schemes soon opened up to his
ambition new schemes 1t was in the |
e L. l.
quired the acquaintance of some |
Amsterdam capitalists who had, by |
foreclosure, acquired title to the
Maxwell grant IN New Mexico He
induced them to convey to him an
interest; make him the president of |
the company, and to furnish him
ample funds to develop the property.
He lived on one of the principal |
ranches in great style. His first wife
died three or four years ago, and he
remarked in New Mexico a daughter
of Ex-Gov Gilpin after an elopement,
which furnished gossip for the press
for some time last summer. He started I
East with his bride, travelling in great |
pOmp and luxury, and was Swallowed
by Pinkerton and arrested in Chicago,
as previously reported. His Holland
5ackers bounced him two weeks ago.
lie has been held In confinement in
Cook county jail for several days, and
on Saturday evening he was taken to
Albany, where he is wanted on six
for forgery and embezzle-
ment. The crimes with which he is
charged as being implicated defraud-
ed the state out of $3.50, 900. His case
looks quite dubious now, but it is
thought by those who have watched
MS career that hewill soon be at large
and riding the wave of good luck
again.
New YORK. Oct. 1.-The case
of Frank r. Sherwin, whose
sudden arrest IN Chicago, on
was a surprise to his
friends, himself and family, was
brought to the attention of the SUI
preme court at its general term to-day. |
Sherwin has figured prominently in
public life for many years. Charges
against him date as far back when he
was indicted in Albany, for failing to
there in obedience to sub
poena in connection with the prose-
cution of Phelps, the defaulting
New York state treasurer. Six in
dictments were found against him
but he was not tried 1t was alleged |
he had left the country for trip over
a year ago. He was arrested upon an
old charge against him IN this city
and was taken to the supreme courton
a writ Of habeas corpus. Sherwin was
then remanded to the custody of an
officer from Albany. An appeal was
taken to the general term of the SUI
preme court and judgment was af-
firmed In the meantime Sherwin
gave bail. The appeal was taken to
the court of appeals and that court also
affirmed the decision of the supreme
court directing Sherwin to appear here,
and abide under the general term.
The accused was to have appeared
before the general term to-day but
failed to do SO. That was owing to
his arrest in Chicago upon q telegram