The Palatka daily news. (Palatka, Fla.) 1884-1888, 1886-09-26

and there are rumors of other suspen
sions or failures, Out none has yet beer
reported.
Previous to leaving town Bartholomew
turned over $500, 900, the funds of the
Hartford Orphan Asylum, of which his
wife was President. The funds had been
left in his hands for safe keeping. II is
reported tonight that the American
/ Emigrant Company, with home office
here and land in Iowa, is involved.
! G. NJ. Bartholomew was President and
/ G.. Nj. Bartholomew Treasurer of the
concern, which had a capital of $500
/ 600. To night the Schuyler Electric Light
Company has procured funds and has
paid its men. Its manager saws this
| evening that he has secured ample back
| ing to tide over the trouble. Officials of
the Connecticut River Banking Company
also say that they have ample collateral
| in good marketable bonds and stocks for
all the paper they hold, and that they
have no considerable amount of Bar
tholomew's paper, but principally Schuy-
Ter Electric Light paper with his en-
dorsement. This paper Is considered
good.
1t has been ascertained tonight that
Bartholomew is in Montreal. Besides
being connected with the corporation
already named, he was director i'm the
American National Bank. the Hartford
Steam Boiler and Inspection Company
and the Orient Fire Insurance Company.
He was also director in the Insane Re
treat and in the Hartford Hospital, and
treasurer of the Watkinson Library. of
which he was one of the trustees He
was Vice President of the State Savings
Bank and member of the corporation
| OF Trinity College. He is indebted TO the
Holyoke Water Power Company, but
| insiders say that the company is fully
protected. Among some of the Silk
Company's paper with his Endorsement
is $500. 900. and of the Union Company
$3.50, 200, already known. His own indi-
vidual paper is out to an extent not
known, and also the paper of his son, in
dorsed by himself.
The treasurer of the Florida Construc-
ton Company, with which Bartholomew
was connected, ascertained several days
ago that there had been slight misappro-
priation of its funds. He was in the
city to- day, and ascertained that the loss
will not exceed $4,000. He says that
Bartholomew services to the company
have been worth to il more than the
amount of their loss. Whether certain
trusts which Bartholomew held, suffer,
and if so, to what extent, is not yet
clear.
In 1853 he was elected a director of the
Chicago & Northwestern Railroad, and
remained in the board until 1861 being
associated with Samuel j. Tilden, VIM.
Il. OgdeI and others. He was a trustee
of the Hartford, Providence * Fishkill
Railroad for twenty years, and President
of the old Boston, Hartford " Erie road
for three years, and also its receiver.
Recently he was the receiver of the Qui-
memont Iron Furnaces in West Virginia
and was connected with many other
concerns.
He has always been large borrower,
Fever until recently furnishing collateral
or making n statement. He was sup
posed to have a large property, though it
was net in sight. Ii is estimated that
$500, 900 of his paper is held in Hartford
and much elsewhere. 1t Is put at over
81 900, 900, but no one knows the exact
amount. He will he thrown in insol-
vency tomorrow, thus removing attach
ments and prior claims.
For several years past the Charter Oak
Life Insurance Company had desk room
at IL Broadway. Their only employee
here was clerk, although a sign On the
door said the office was that of the real
estate department of the company. Very
little business was done in this city. Mr..
L.. {. Burt, who was connected with the
company several years ago. and now &C
cupies part of the offices at q Broadway,
was very much surprised when a SIN
reporter asked HIM about Mr.. Bartholo-
news defalcation.
That's the first I've heard of it," he
said. i wouldn't have thought he
would do such a thing any more than l
would myself or my father"
Mr.. Burt said he thought the company
would not recover from this new blow.
The company had failed once i'm 1873. /
was recognized in the same year. and
has since been run on the mutual plan.