Evening star. [volume] (Washington, D.C.) 1854-1972, 1884-06-13
THE MIDDLETONS, FAILURE.
Important DisclOSures.


SERIOUS CHARGES MADE BY THE MEMBER OF THE LATR
FIRH IN NEW YORK OF MIDDLETON, DICHMAN co..
CHARGES OF WHOLESALE RoBBERY-wHERR HAS
THE MONEY GONE7-CIvIL AND CRIMINAL PROCEED
INas INsT1TUTED-s. Z. MIDDLETON SAYS BE WAS
IGNORANT, ETC.
Since the appointment OF committee on behalf
OF the creditors Of the late banking firm of Middle
ton q Co. on yesterday and the evidence submitted
by MI. Dichman, OF the firm Of Dichman Co.,
No. 30 Wall street, New York formerly Middleton,
Dichman & Coy, the disclosures show the failure
not only to be one Of the most dlsgraceful 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 everything
have been swept away and used by this firm, until
1t is doubtful II 1t pays cent even mill on the
dollar 1t Is shown that they have been given
passed to their own credit and spent The New
York house produced to the creditors to-day the
original letters from Middleton & Co. proving this
fact In several instances beyond all question. In
the language OF Mr.. Dichnan, "Wesley Middleton
has probably kept twothirds Of the accounts In his
head" head This explains, possibly the "misery in his
head" OF which he has complained SO much lately
TO the reporter OF morning paper he insists that
the statement OF MIR. Dichman does him s'great in
justice, and that the books will come out all right
The answer to this Is that the Middletons seem to
have known little or nothing of their books, for
they are In great confusion Mr.. Green, the book
been settled for over ten years, though he has re-
peatedly urged the firm to have them balanced
He protests that he never had any knowledge Of
the disposition OF the securities Of the bank, but
kept his books only from the blotter and from the
memoranda placed on the spindle. Mr.. Dichman,
when asked what, in his belief, had become OF the
missing $500 900 or 100000, said he did not believe
the Middetons had speculated In stocks or had lost
1t on bad loans here, as suggested by creditor In
fact he was very open in his expressions OF 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
Mfddletons had any defense or explanations to
make they could very easily appear he said, before
the creditors committee and show II those large
sums were lost through failures in the ordinary
business channels or had been, as openly charged
deliberately stolen They certainly could be traced
In his opinion till the creditors satisfied one
way or the other. The largest deposit which was
swept away was that Of the Hutchinson estate, ex-
ceedlng S115 OOO and the next highest is that Of
well-known ofncial, amounting to s6l ,OOo A num-
Der OF civil suits have been instituted and some of
the sufferers were before the grand jury yesterday
endeavOrtng' to secure the indictment OF the Mid.
detons for obtaining money under false pretenses.
The developments not yet made public promise
some very ugly features. Mr.. s. E. Middleton pro-
tests that he had no knowledge of the use of the
securities OF the bank, which he charges upon his
PARTNER.