The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1885-04-10

Ups and DoWKs Of sPECULATORs.
Shs Case OF ssnsy, the Hsw York 1x-
Bank Hsssidsnt-spseulasoe Who 3s-
coma InRanf ,

The Case OF 1snsy, the 1eW York N.
Bank 1sssidsnt-Dpsoulatee Who os-
come 1usant. ~,
New York Letter in Utica Herald.
What an instance of The ups and
downs Of life is found in George I.
Seney. 1t is hardly year since the
press was eloquent in his praise. He
had built churches, assisted colleges
and endowed h,spitnble. Hence his
fame as a beuefactor had extended from
America to foreign lands. It now ap-
pears, however, that his greatest work
was the destruction of tho Metropolitan
bank, CT which he was President.
this bank had capital Of $3,0OO,-
600 and the shares were at one
time quoted at GO per cent. above
par. Now, howe yer, the Metropolitan
has gone out of existence-ruinedb by the
man that should have been its guardian.
It is really case of robbery, for he was
not placed at the head OF that bank for
the purpose OF investing its funds in
paper railroads. Seney's splendid house
is in the hands Of his creditors. His
picture gallery is 10 he offered at
auction in few weeks, and his
mode of life at $4,000 q year is
changed to poor fo ks scr;mpage.
Such is the condition of the man who
last year was one of the kings of fl
nance.
Seney could not content himself with
the mere routine Of ianki9s His
ambition cravea distinction. He wa,t-
ed to be railroad king, and here
lie is ruined man. spreading VIDE
train of ruin for others. Tue WORST
feature in this general wre,.k is tie ,oss
of character. The former pl,ilantl ROY;
il row charged with swin,ling. Yi.s.
in fact, is tle basis of the action
brought against him Ivy John S. Stan
ton in the Brookly court. How strange
it seems that this disclosure is to he
made in that very city which once con-
sidered him one of its highest honors.
Stanton is q holder of Ohio Railroad
bonds (River Division) which were
issued by the road to Scney aud his as
sociates. The amount was $4,000, 900,
and the object was the finishing of the
track, Including bridge, which would
We an important outlet. The plaintiff
nuw Iute.ntis 10 provo tI,.t Snnar, inv+e oh
of using these bonds for the above m,r-
pose, turned them to private benefit.
He and his bank were heavily lopletl
with 5tI,er bonds Of the same road, and,
in order to shove them off on the un-
suspecting public, he paid the interet
on them, and thus kept up quotatio.
until they had unloaded as far as possi-
BILE. Tho special issue of 45,00O,OOO
was thus absorbed, and the improve
tnehts for which they were intended arc
untouched. Hence the plaintiff brings
action, and il verdict be obtained
against Seney there is enough fraud to
render him liable to Imprisonment.
William j. Hutchinson, the once snc-
cessfuf stoeh speculator, Is now insane.
and it would not lrs surprising If Sen y
should reach the saiilc unfortunate COLI
dition. General Eagan has Just died ut
the Wards Island Asylum, ind SO has
DR.. Shine, late surgeon of the elevat d
roads. Wards Asylum is the "Bed!sm'
Of this city, and it may be added that
this term, so often applied to lunatic
asylum, is merely corruption of Beth
lehem, which was the name of the old
est establishment of the kind in Eng
land. Insanity is rapidly increasing.
and the Wards Island institution must
soon be enlarged. The ratio in this conn
try is one in $50, while IN Englandi it is
one ih 1888. The total number of luna
tics in Europe and America is 1S9, ,4O2,
of whom l4v,0W are confined in asy-
lums. What an immense number to be
SUPPORTED by charity! Of this number.
England contains 30,2Gl and the
United States 81 ,Je3 Scotland con-
tains 4,571, while poverty. stricken 1re
land, whose population IS not dout e
that Of Scotland, is burdened with 10. 81
lunatics. The earliest medical writer n
this subject was Hippocrates, who live
47OB.C. Lunatic asylums. however, ire
comparatively modern. There are sew
enty- four lunatic asylums in the Unit d
States, and ~ show how this disc Q
rapidly follows civilization, it NAV he
added that institutions Of this kind have
been required in Oregon and Washing
ton territory. The number Of pauper
1unatics in this city.is 1,G2o, of'whom
two thirds are females. There is an asy-
lum for each sex, and both institutions
are crowded to an unwholesomc and
unsuitable degree. The increas. of in
temperance and other vices indrs d
leads to degree of mental mala,ly
which may awaken us to the danger
which threatens society.