New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-09-26
G. NJ. BARTHOLOMEW'S WORK,
ROBBING PETER TO PAY PAUL.


BOLSTER UP WEAK oNEs-So GAIN FOR HIM
SELF.
C. c. Demng the treasurer OF the Florida Con-
struction Company and the Jacksonville Tampa and
Key West railway, who has been in Hartford since
Friday last investigating the affairs of George NJ.
Bartholomew the dctauting president of the Charter
Oak Lite Insurance Company. returned yesterday
prepared to state the exact losses which his COM
panies had sustained through the peculiar financial
transactions of one Of the officers. e. NJ. Bar
thoomcw was president of the Jacksonville, Tampa
and Key West railway and director OF the FLORIDA
Construction Company.
Mr.. Bartholomew's criminal transactions have
been of a very peculiar nature" said Mr.. Deming,
He is not defaulter in the accepted sense OF the
term since it is evident that he has not carried with
him any of the funds that missing.
81 have known Bartholomew in business way
tor the past twenty years and personally much
longer. Tie first recoections of any large ventures
in which he was engaged when he became trustee
under the mortgages of the Hartford Providence and
| Fshkill railway. At that time the road was
mortgaged tor every cent it was worth, and 1t was
| difficult TO get enough money to operate IT, bar
holOmcm pledged his personal credit to keep the roau
| in shape and improve it and gradually brought 1t to
| n place where it was accumuating surplus. The
| Boston, Hartford and Erie and NewYork and New
England railways got possession OF the road ana gave
Bartholomew large fee for his services in improving
| the property. About the same time Bartholomew
| became interested in the Ilolyoke Water Power
| Company, which in very feeble circumstances
Although there were several wealthy in the COM
pany of them willing to risk his own credit 10
| advance its interests This Bartholomew did,
| personally indorsing much Of its paper. lie also
used some of the surplus of the Hartford Providence
nd Eisi m he In IIOlYOkc
was. of course, morally wrong. This was his course
in the management OF all the in which he was
interested He would borrow money from the stronger
company and apply 1t to the benefit OF the weaker
| without the consent OF the directors.
| when, it 1878. the affairs of the Charter
Oak Company we're in such condition that
it was deemed advisable by many to
| appoint receiver, Bartholomew was elected
! president to succeed Marshall Jewell. With the
Charter Oak he pursued the same tactics adopted S 6y
him and applied the surplus funus OF 'ne
HOlyoke Water Power Company ana 0Iner concerns III
which he was Interested to bolster up me insurance
pany e had established spend creuI - a.
meeting his obligations promptly ana athouSn nc IN ~,
Guilty IN obtaining money from the banks MS success
| In bringing weak concerns to positions OF ahluehce
tits way he became Interested In a large number of
ventures. Finally in the Union SILK Company he iounn ~
into which 1t had fallen. Try as he would ne c1n9
not make st pay AN ana wnen .s 6dmnany r,unSerS
wont to pieces the npheava came. 1t became widely
known that he was nvoyei In TINS matter an ana M he & cO
before asked for an accounting from MN pomrea, ~, IN ia1 @
Hal one or two "f the companies requested an adjust
ment could probably have made satisfactory settle
ment by drawing the funds Of the other companies
and by thus holding confidence placed in him doubt
less would have ultimately come out all right a. y
for him 10 DO but TO draw nni avoid the criminal
proceeding. which sure TO follow.
FAR as the Florida CONSTRUCTION company ls con con
cerned the loss Is trng aud the Jacksonville ana hey
West Railway Company is not affected at az Inc con
structiOn Company was organized 70 Ouiu Ihe
and owns all bonds ana stock of the later Barthoo o
not accounted for are forty $1,000 oonds Wncn a.
has used improperly. We are poerfectly wiling IN, .
rendered Ma in the past The $4,000 will out o.
the profits OF the Construction Company ana VIII no
| "Tne feeling against Bartholomew In Hartford ha
moderated considerably IN the last twenty -FOUR aours
since is learned that he las not benefited persona
nv his transactions. lie s one Of the kindesthearted
men ever met ana his ihabits are iautess lie rke'
| individually and lived quietly His hoisehou eE
penses did rot exceed $4,000 year and done thnl
he pcnt over loO year Tor hs c,ong % G
Ills transactions were ottel down slips OK paper anC
filed away in such shape as to be OF 40 ava" except
DO you think he will return to Hortfordr asked tn
II would be a grand thing for his creditors II ~
would think 1t extremely doubtful, as II wouiu U
him ana il they agreed DO 80 there are number
OF small creditors who might have him Imprisoned OF
civil suits What has become OF the T!Oo,OoO surplq
OF the insurance company isa mystery IL was prooaol
| swallowed up by the silk mill. -, o.,
General Louis Fitzgerald receiver ior the New, 1ei
! property OF the Charter Oak Company. was occupied
Yesterday making inventory OF the real estate mere
II is believed by lawyers that This property can De use'
10 satisfy New York State creditors, In which case th
| losses In this tate will be small , ,
| Cyrus W. Field yesterday received an envelope iron
Bartaolomsw mailed at Montreal and enclosing nv
Mr. Field refused 20 say to whom they were addressed
| except that one was for Mrs BariDcCmew.
| gentleman who has made a thorough invesusatoi
INFO RarthOlomew's affairs says that he had hdOrse'
nauer worth 80 900 the first OF January last