The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1884-10-17
The Chicago Members OF q Liver.
pool Firm Gets Away
With 100000.
HeB,com,s Penitent and Writes a Let
ter Explaining How He Was Lured
Into Option Dealings
And Compelled to Steal More and More
to Hide His Losses-The Worst
TO Come.

John A. Atkinson, defauitlng member OF
the pork packing firm of Davies, Akin
son & Co., on Lake avenue, was told that
he was not at home and that there was
no telling when he would be home. Mr..
Davies was seen at his hotel. He said:
"When arrived here on October Sd a
clerk handed me letter written by Mr..
Atkinson which will explain much, II not
all" The letter is as follows:
CHICAGO, ILL.,, October 8, lS84,--I have
a most terrib confession to make. |
have lost large sum OF your money In
speculstons on the Board Of Trade, and
have used money borrowed fro n the
banks to pay sses. don't know the
amount but II must be over $4,000.
This deception on my part has been going
on long time. made money at first,
and encouraged by the hope OF making
up some portion Of last years losses,
l took larger lines and was
long on lot OF stuff when
the panic came last May. Then it
was impossible to sell out, so l sold
a quantity of pork short, and was
caught In the Armour corner. still
he'd on to all the stuff, after paying the
loss on pork, and about five weeks ago
was within a few thousand dollars of
being even, but prices collapsed and left
IN tiers worse than ever. All these
months | have been d, ceiving the
banks as 10 the position we were in,
hoping that 1t would come out all
right. But it went on from
bad TO worse, and every effort made to
make money only plung me deeper into
the mire. A great many trades arc still
open, but the market shows little sign OF
doing any better. know there is no
palliation for the baseness and ingrati-
Ia ie OF my conduct, and, were it not for
my wife aud little ones, | would end my
life. As 1t Is, am broken down by the
terrible strain. 1t has been d."
The letter ended abruptly at this point.
Mr.. Davies, the senior member of the
firm lives In England, where he disposes
of all the products of the Chicago house.
Finding it impossible to get straight
account OF his business, Mr.. Davies re
solved TO come 10 this country and inves-
tigate for himself.
The firm was started by Mr.. Davies,
who Is wealthy commission merchant
of Liverpool, and Isaac Atkinson, con-
fidential clerk In bis employ, who came
to this city for the purpose. Mr.. Atkln-
sor was accidentally drowned in the lake
of his residence in Kcnwood, some four
years ago, and John A. Atkinson succeed
ed TO membership in the hrm on his
fathers death.
"The first intlmation had OF anything
Irregular" said Mr.. Davies, twas Atkin-
sons letter which is corroborated by the
most painful facts, permitted the at
tachmeut by the Continental Bank for
S25, 900, because this note Is discounted
on the strength OF warehouse receipts,
the property Of which really belonged to
the Bank of Montreal"
"Let me explain" continued Mr.. Da-
vles, tone OF the strongest clauses In the
partnership contract Is to the effect that
Atkinson should not speculate or do any
thing outside Of legitimate business
wi bout my consent, as he had no capt.
tai In the firm. The business here was
simply to supply the Liverpool house;
there was no outside trade. Some
twelve months ago Atkinson asked for
money. Knowing that there was
ample capital here, wrote to
him asking him why he was
drawing still moie, amounting to $780,
900, and suggested that there must be
something wrong. In reply to that he
cabled that an employe of the firm
named Harbers had been specializing,
unknown to him, and had paid up losses
in margins by excessive overdrafts. Har-
bers, Mr.. Davies explained, was man.
aging the commission department OF the
establishment, and represented the firm
on the Board. His connection with the
firm Is, OF course, at an end, and
what has become Of lin Mr.. Davies
processes not to know. Regarding
the latest developments, be said:
"The mother of Mr.. Atkinson has
started suits against the firm, one of
which is,for an entirely fictitious amount,
which she knows. The claim Is for
money on deposit. Believing Atkinson
to be honest and reliable, | never
doubted the Iarbers transaction; Har-
bers himself wrote me letter to
Liverpool, admitting his irregularities.
! have not gone into the books
yet, but this late development leads
me TO believe that the populations
amount to not less than $500, 900 That
is as far as can Judge. 1t is very prob.
able that further developments will be
made In day or two"
II is said In commercial circles that the
Bank of Montreal Is still out some Sl40.
900, which 1t carried, because Mr.. Davies