Savannah morning news. [volume] (Savannah) 1868-1887, 1884-06-14
A BANK RUN By ROBBERS.
MIDDLETON & CO.'S CREDITORS
NOT TO GET A CENT.

100000 Wiped Out and ITS whore
abouts Mystery-Mr. Dichman Bold
" Charges Robbery-HIIddleton Cries
"Iujustice"-The Books Not balanced
in Ten Hears-other Mercantile Conn
plieations.
WASHINGTON, June 13.-Ths Star pub
fishes the following:
Since the appointment OF a committee on
behalf of the creditors of the late banking
submitted by Mr.. Dichman. OF the firm OF
Dichman Co., of No. 80 Wall street New
York, formerly Middleton, Dichman 3 Co.,
disclosures show the failure not only Go be enc
of the most disgraeeful but one OF the most
disastrous on record. Property left for safe
keeping, good margins on stocks charity
funds, all Of the deposits, and, IN fact, every
tim have been swept away and used by this
firm until it is doubtful ifit PAYS a cent or
even mill on the dollar.
ROBBERY CHARGED.
1t is shown that they have been given funds
to make purchases which thcy have simply
passed to their own credit, and spent The
New ] ork house produced to the creditors to-
day original letters from Middleton 4 Co
proving this fact in several instances beyond
all question. In the language Of Mr.. Dich-
man, Thy, Mr.. Middleton hassprobably kept
two-thirds of the accounts IN hls head. This
explains, possibly the misery in his head OF
when ne has complained SO much lately" To
a reporter Of morning paper he insists that
the statement of Mr. Dlchman does him
great injustice" and that the books win
come out all right.
LOOSE BUSINESS METHODS.
The answer to this is that the Middletons
seem TO have known little or nothing OF their
books, for they are in great confusion The
bookkeeper and assignee say that the books
have not been settled for over ten years,
though he has repeatedly urged the firm to
nave Them balanced. He protests that he
neNe never mao any knowledge OF the disposition OF
the securities of the bank but Kent his books
only from a blotter and from memoranda
placed on spindle.
DICHMAN VERY BLUNT.
Mr.. Dichman. when asked what. in his be-
lief. had become of the missing S9OO 600 or
100000 said that he did not believe that the
Mlddletons had speculated in stocks or had
lost It on bad loans here, as suggested by a
creditor. In fact he was very open IN his ex-
presslons of his opinion as TO what had become
OF some of the deposits and the large amount
OF securities, and openly urged all legal
steps TO find where these funds were.
II the Middletons had any defense or expla-
nations 10 make they could very easily aDpesr.
he sald, before the creditors committee and
snow II those large sums were lost through
Ialiures Ia ordinary business channels or had
been, as openly charged, deliberately stolen.
They certainly could be traced in his opinion.
TIL the creditors were satisfied.
SOME HEAVY LOSERS.
The largest deposit which was swept away
was that OF Hutchinson N Tate, exceeding
Sll5.O0O, and the next highest is that OF a well
known ofhclaL $4,000. A number OF civil
suits have been instituted and some Of
the sufferers were before the grand Jury yes-
terday trying to secure an indictment of the
MlddletOns for obtaining money under false
pretences. Developments not yet made pub
nc promise some very ugly features. S. K.
mlddleton protests that he had no knowledge
OF the use of the securities Of the bank which
nc charges upon his partner.