New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-08-14

profitable business here, the banks were easily
duped The Chester Bank as stated holds about
$40 900 of this paper, a Middletown bank, whose
vice-president Is one of fathers notes I1I
s. 600, holds about $4,000; one Newburg bang
has over $50 600, another about $l9OOO, and tne
third about $4,000 or $4,000. The New-lork
banks are yet to be heard from.
Besides the speculations already alluded
10 IN which the old gentleman en-
gagged he was interested in paittent alt
electric insOe for shoes, a kind of cnre-ali LOT
everything and he lost about $4,000 IN that
scheme. The machinery for the manufacture ol
them Is now lying idle on his hands, ana II Elsi
dead failure from the beginning. A iot o. '9u
scamps got him into that, as into other slIilidI
schemes. and the result is now before US: II is
bad state of affairs. still another venture IN "lc4 men
he lost pile of money was a patent rupDere po"t
ventilatOT. HIS mind seemed TO nave run Oh ia.e
years in Just such channel as indicated, ana tl qt
course he had willing hands 10 help HIM on. ne
left Highland Mills on Monday night, August 4,
taking the train to Turner'S. Since then We nave
heard nothing from him, and do not know Where
he is. He NAV have gone 20 New-1ork ana taKen
steamer for Europe where we have a lot OF trends
He has fine farm at Woodbury. which Is Worlh
$4,000 and mortgaged to the Middletown oaVIngs
Bank for R5 600. Ny wife holds $4,000 mortgage
on the factory and It's machinery, ana MS New
York real estate Is mortgagcd for nearly an Its
worth. The company. however IS perfectly solVent
and able 10 pay its debts. 1t Is lying Idle, Out IL
will resume Just soon as the legal complications
that fathers actions have made necessary are re-
moved. | have had several friends step TO the
front already and proffer financial assistance. me
New burg Bank which has seized the properly
through the sheriff, think they have right 70 ait
but will dispute their right to more than the @ 0i9
gentleman's third interest. The store AT No. Id
Chambers-st.. NewYork, has no financial connec-
tlon with the company. think father must ne
ont of his mind 10 act as he has done Mother has
said TO me that il strange where all the money
he had came from. and she thought at times lie
acted strangely
WHERE THE PAPER WAS DISCOUNTED.
The bank here involved the most is the National
Bank of Newburg II holds paper OF Halls to the
amount of S52 700. They have discounted Halls
paper for years and always considered him good.
He represented to them that if his matters were
settled M at any time n would he shown that he
was worth 10000 over all debts and LIABILITIES
He asserted that all the paper he offered Tor ulH-
count was business papcrtOr goods sod' put turns
out that lots of II were borrowed. some oi the per
sons whose names are attached to the n2tee navie
been found aud are good. hut some cannon NE louhu
and the bank believes them to hc fictitious nance
This bank frat heard of Halls crooked transa,
tions aud sent for hm to come tn Newhurp While
here he confessed Judgment TO the bank for the iull
amount of the uutes held hY them. and murh ol
which they believe rs NO good, II is on the ludR'
mcnt contcssrd that tho sheriff attached me goo''
aud ohattra Rt lltshaud Mills HAN mas d'no nus,
mcvp with this bank for ten years. lio was a'Acd
scvrral timoN Il the paper 9iiorre Tor dsronnt was
for goods zuld aud ho replied anfmAtivnN ohoh
time. The hank ia the largest in tho county Ahd
one of tho largest in the state, and WhhtcNo' u
loscs of the amount viii not nuft II mu'h
Its last statement showed capital OF
100000 and surplus of $50 4od. Inc
Quassaick Bank here holds notes of persons IN New
lOfk, TWO nom one ana lMh from dllhlltll aHl'utN
ing to 81 900. These are lndoT~ed 10y Hall and he
represented ~ this bank also that they we're busl-
notes, but it turns ont that two OF themare Tor
accommodation. They also have two notes amount
ing To 5000 which are Halls own notes with good
indOrsers here-a well-knOwn merchantile hrm
which viii undoubtedly lose that amount lhe
Quassaick also holdsa business note for Tl21 for
which the company sold goods and which VIII he
paid. The Highland Bank here has about TNOoo
or 50 600 OF the Hall paper one note OF ~ 100 Is
secured ly an Endorsement of the late Assembly
man Morgan Shiut. whose estate Is good. lhe
Newly York banks that are interested are not known.