New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-12-13
CHARGES OF EMBEZZLEMENT
EDMUND YARD ARRESTED IN PARIS.
his CONNECTION WIN A SUSPENDED riRM-NoSgY

FROM ~. NJ BD8ARr co,
complaint was lodged In District Attorney
Onrv's office about two weeks ago by the legal
representatives of Sally Carr shaw, esecntti, ci
the estate " Charles q. shaw. who died about
twelve yeats ago, rhafaina Edmhnl Yard with eihi
hp11ns $4,000 of tho fhhda ~ the estate, ahd III,
matter being laid before Tho Grand ln,t, ah hdiet
ment was fouhi against hM Ito was arrested on
December -, ~ Paris at the iplneat ~ tho criminal
authorities ar thIs eitY, The question a. u
whether tho otenoe waa an eStIailtahie ono arose,
aud the matter was discussed lor several days IN
tho pisrIot-Attorneys oilioe, Algemon \, Sullivan
appeared as the counsel tor the shaw estate, and
George S Sitt was in some way interested ia the
case, Aaron j. Nandorpoe appeared for Mr. Yard
and argued against tho eNtradltlon, and Mr. snlli
van was heard in favor ol 1t. The Distrot-Attoruey
held the matter under consideration for a few days
aud finally applied for extradition papers.
During the lifetime of Charles g. Shaw Mr. Yard
his most intimate friend. aud they
ciatcd in many business enterprises together When
Mr. Shaw died his wife, who shared her husbands
confidence in the business ability and integrity
of Mr. Yard, gave him as the.execurix of Mr. Shaw's
estates power of attorney which was unlimited in
its scope and gave him full charge of the funds of
the estate, to invest and reinyest as he thought
best. Mr.. Yard retired from active business many
years ago, having accumulated fortune estimated
to be between $500, 900 and 100000. lie was for
thirtytwO years the senior partnerin the house or
Edmund Yard n Co., afterward Yard Gilmore ~
Co importers and jobbers of dress goods in Phila-
delphia. In 1868 Mr.. Yards two sons, Edmund
Yard. jr.. and William Yard formed coparner-
ship with John o. Willis under the firm name of
Edmund Yard. jr., Co., importers oi white goods
and laces aud carried on the business at No. 81
Leonard-st, this city. Mr.. Yard, ST., advanced tho
firm 100000 to begin business, and through his
influence the firm secured good rating with r. G..
Dun 4 Co. On December ], 1869, Mr.. Yard. ST.,
put 90, 600 more n.o the business. The hrm APP
pearcd To be doing good business aud making
money. and in January, ISL Mr. ard. sr; repre-,
scntcd that tc firm had surplus of N21t 600, and
IN March. S~i. the finn claimed that ITS captawas
$3.50 900 and It's liabilities small. which was
believed to be true by its friends While apparently
in the s0undcst financial condition. the firm sud
denly and without warning collapsed, ana on lnly
10, iSS /, made an assignment to -iiermah W. van
dcrpoe and William Friedman with preferences
amounting to to5O,u00 ana liabilities above 100
600. Among the preferred creditors was the he-
cciyer OF the estate of Charles q. shaw. - Ihe
amount was LETT blank, aud ln the papers heh IN
the County Clerks oicei II IN stated that Whatever
amount was due the estate would be paid bat 10
WAS not known AZ the time 1t - now asserted that
the firm OF Edmund Yard, H., co. had been IN
n shaky condition Tor long tune before tS inllufc,
and that Mr. Yard. 81, had boon advancing 10
money from time tn time To keep IL awe ana hit
used not only his own means but large portion oi
the 1000 ~ MS possession brlongnR 10 the es.
tate of Charles q. Shaw. Exactly what the amount
was cahnot bc ascerinncd ~ al persons connected
with the cnse MAINTAIN inyNrtlous silence ,
Mr.. Yard A., VA, Dlnch Affected by his sons iail-
nre aud bcramc exceedingly dc,pondout, IN August,
about one month after the irms failure hts heatl
being romrctcly shattered. he with an invalid
daughter and ther members o hi. family. went to
Iuroup aud they have alncn been living In Swilcr-
band. No proceedings had been taken by the heirs
of the ohaw estate against VII. Yard. sr for the re-
cnvery of the sunandcred estate. though n sette-
mcnt had been asked for but was not made. The
heirs Of the Shaw estate know ~ the time that
lOlus were being made to the suspended firm, but
they did not uurVi0n the integrity of Mr.. Yard. ard
interest was paid upon all the Investments lie made
at the rate of per cent per annum. The partcnilf
charge upon which Mr. Yard 81. was arrested grew
ont ul "a business transaction that he had with ~
W. Bugirt N Co., bankers and brokers' of NJ. lOs
Broadway, who suspended payment az the time of
the Marine Bank failure. MI Yard borrowed
80. 600 from Mr.. Boaait gave two notes thetetdi
of - 900 each and put mp a. rol lateral ten bonus
uf the TWENTY third ST. Raload Company. which
belonged ~ the estate ot charles q. shaw. The
proceeds oi these notes he loaned rs his sons hfin
and the firm failed before the npics were pnid.
Recently unp of ~" fiirnls eff Nr A1ii t'nlerpd
tbr lull amount ~ $4,000 tO charles -. SHAW. one
uf the heirs ui the shaw estate. Hud willie he ah "
under considerations and without plih 2 ieiusins ~
arrppting II. the complaint uas mai" iht W. l4iht
airist Nr lail hpf1ip 4. lrit the country hft
fntirS ~ appointment ~ a ipiuts.ut1ttp ~ The
{ uurtt lpi h's nipp, uulh WhrW 80 rpnris tuhlI
tp sritr iuiihs his hnsrhtr. II IA sph ~ tWst
havH4 lhHWpisp ~ tlp tiiai ihaf THE atihst ~
Ntr Aaui g. nni Gt tho uNiiH'sp 80 uishiNg hn
inai hi, dni pau hn hAi ~ ihn a,iii.mpnt 80 tW
shaw estate. lhifh afp others Nh1 h,letr ihat thn
d, nhlN tht Hist ut 5Diius nl atiul pfNNnf llNgs
that 80 soon 40 las - hInH8hi heit tiibie Wlll '"
other charges made against hin which VIII ooFei
q n.uch larger sum oi m"hei.