The Portland daily press., 1883-08-10

For several wears Mr. Copeland has been ac-
cast0med 10 sell his own single name paper in
ihe street. and 10 take the proceeds and dis
count his bills. In some instances he gave his
notes Tor merchandise, but generally he sold his
notes, which went readily from al TO 81 per
rent, and eashed his bills. In the fall of 1881
Meesrs. Shaw q Brothers commenced endors-
ing the notes OF Copeland without his request
aud without his knowledge; when he found
their name on his paper he supposed they had
bought 1t and discounted il when they wanted
naoney, and, as he believed them 20 be very
rich he was pleased and flattered by the conf
denee they manifested IN him. He afterwards
learned that they had iDdoreed this paper
while in the brokers' hands for sale, but was
not done at his request. One would suppose
that this would help Copeland's credit, but It
worked just the other way. People preferred
the t~o-name paper, and Copeland's unin-
dorsed nt tes we're not SO readily disposed Of.
MIR. Copeland has always bought more or less
goods ~ Shaw Il Bros, and after these in
d0rsements be bought more largely Of them,
always at fair prices. On Oct. 2, 1882, Mr..
Shaw stated 70 Mr.. Copeland that he wanted
10 use some money and asked him to advance
10 him SO le notes on SIX months, for which
Mr. Shaw promised to deliver him leather IS
required. Mr. Copeland then made for Mr..
Shaw notes amounting to S2l ,022 60, and re-
ceipt therefore which was signed by Mr.. Shaw
IN person aB ION account Of lea her TO be de-
iiveredF Nov. 8, 1882, Mr.. Copeland advanced
20 Mr.. Shaw other similar notes, amounting to
S32 522, and received similar receipt. Nov.
10th he advanced in tne same way $2l ,66l.
Dec. Z, 1882, no signed other notes for $37 1916,
and again received a similar receipt. He
should have stopped here. He should never
have gone SO lar; and nothing should have in-
ouced him 10 20 jni tier. It is easy TO see it
and say u Eow. Bat Mr.. Copeland fully be-
iioved shaw to be "A very rich man. and that
the leather or the money would be forthoom-
iug when wanted, and SO he went on making
notes for Shaw aud taking receipts for them,
and buying what leather he wanted Of Shaw
and at times receiving some money on
account until July, when the actual balance
due to Copeland from Shaw above all leather
and cash received Of him amounted to $685.
726o Meantime Shaw q Bros. were short OF
money and LETT Mr.. Copeland to take care OF
the loaned notes, and ia April and May Mr..
Copeland took up $40 eco OF ihese notes, and
in Jaae SS4, $40, 50 that on July 1st he had ac-
tnslg paid out III cash, on Shaw Bros notes
%59O03 above all leather and cash received
from them. Meantime Mr.. Copeland had
MADE some heavy business losses, had carried
heavy interest account aud had made some
sacrifices TO raise money IN the hope TO 90
through safely. lis payments were heavy but
ha inft them all. His Cash cook SHOWS ihat ne
peid out Ia May S246, 94l.58, ii Juuc, $4O4,-
bl2 Al, ana IN Jaiy so, ,604.9S, making over
%yUO,O0O IN these tbfee months. For mouth
he mad been urging Mr.. Shaw to pay him some
money Oi RiVo nim leather upon which he
could raite tue money, but he was put off from
time to time and received but little About
Two 7eeks ago he made formal demand upon
shas & Bros. FOR the leather due him upon
their receipts aud waa informed that they could
nnt deliver IT, He then told them that they
must iuruish him means or he could not 20 on
They paid hiua some comparatively small sums
but noi enough to be Oh substantial help. he
then saw that " was not possible for him to go
tafoagh the season, and believing it to be Just
10 his creditors and best for them and for him
self, ha suspended payment.
commlttse OF five, including one from
New York. was chosen to examine into the af-
fairs and ascertain tho best method of settle
mont. 1ho meeting was harmonious through
f.ut