St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1883-08-17
The Pros and Cons Of BariOW's
Failure.


GEN. CIRCUITS SOLILOQUY.
Adapted by the Brattleboro Phenix since the
Barlow smash
Though the mills of God grind slowly, yet they
grind exceeding small;
Though with patience stands He waiting Win eA'
actness grinds He all"
AS SEEN THROUGH NEW YORK EYES.
The failure of the Hon. Bradley Bar
lows bank at st. Adams shows how
speedily speculations may sweep away
the hard earnings of the most success
full star-route contractor. The eXpla-
nation given also shows that MIR. Bar
lows experience as Il contractor did
not teach him how to conduct bank
with due regard for cOntiding deposit
ors. What right had this bank to dis
count railroad paper to an amount eX-
ceeding its deposits, and to make loans
upon railroad bonds which the market
rejected The fact is the bank was
part of Barlow's private estate, as those
will remember who recall the star route
investigation of 1876. In those days
Mr.. Barlow was king of the star mail
service, engaged in developing the
country. The annual pay of his routes
was more than 81 ,000,0 900, and his lib
erality and generosity were sometimes
severely taxed by inquiring persons
whom he found it necessary to paclfy.
Phenomenally fortunate as a mail car
rier, he seems to have failed as a rail-
way owner, probably because he found
the methods by which he built up a
large fortune us contractor In the
service of the pOstot1ice department
not applicable to the management of a
railway New York Times.
THE METHODS OF THE BANK.
The failure of Mr.. Barlow may have
been an honest failure, but what shall
he said of the broken bankq What
shall be said of the action of the pres
ident and directors who have dealt
thus in these wild cat securities
What of the state bank examiner, who
but recently expressed his satisfaction
with the investments of the bank lie
> must have known the financial stand
ing of the road; he could but know
that its bonds have had no market
value for years. Knowing this fact, /
: can only be said that he was derelict il
= duty and, with the directors of the
broken bank. is only deserving of the
most severe censure. As to the Irus
company, which, too, seems involved
S through the action of its president
the case is far more fragrant. Many o
D Mr.. Barlow's creditors can bear thei
losses. The creditors of the Trus
company are poor, and its embarrass
ment is but their financial ruin, ant
, prolific of distress. 1t is true that TIN
! president of that institution disclaim
{ any serious trouble. 1t was his dut,
y to have guarded against anything tina
could have been construed as such
and it is to be hoped that his declara
tons may be verified. However hon
esl Mr. Barlow's failure may have bee
the results in this direction seem to b
-, but the fruit of course of action tina
= must be looked upon in a differen
y light Windsor Journal.
a ANOTHER VIEW OF THE MAN.
V The announcement of Mr.. Barlow
e failure will he received with Il genera
t expression of sorrow wherever tina
Il able and enterprising man of bushes
:. is known. Mr.. Barlow was IL man {
= great business capacity, energy, merry
II and courage. He was no Speculation
# no scaIper he rose by his own abilitie
! from narrow circumstances to grca
It wealth. Ten years ago he must hav
T. been worth half a million of dollars i
e property that was as good as cas'
q His enterprising disposition persuade
- him when he was over sixty years {
}. age to take hold of the South Easter
l. railroad. He has finally been swami
y sd rs able men Of business often al
e causes that no man could foresee.
l. year ago we presume he would ne
il have asked any guarantee of his sue
Il cess, but he has been wOrsted by fat,
= With characteristic squarencss an
II trankness and courage Mr.. Barlow Ina
n not sought to cheat or battle his credit
!, ors; lac has concealed nothing he la
= turned everything over to the ban
II that is his chief creditor. Tn
Il writer has lived in st. Adams tw
! years and he has heard the bitteres
I, personal enemies of Mr.. Barlow ADM
y that he was Il man of his word ma
IS square and upright in his bushes
dealings. Furthermore, Mr.. Barlo,
was devoted friend and Il helpful cit
izen. More than one young man i
Franklin county has been set up i
. successful business through Bradle
Barlow's generosity, and altogether h
stands for type of business men VIII
make the wheels of local enterpriS
move, who do not dance about Wa
street, but put money and brains int
. Legitimate business enterpriSes.-R ut
! In, IN