Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1886-09-27
AFTER THE CRASH.
more about the Bartholomew Muddle-
Cyrus W. Field Comes to the Rescue Of
the Defaulter's Son-A Half Value Civ.
en- the Worthless Paper Held By the
Bank.
HARTFORD. Conn Sent Ok

HARTFORD, Conn, Sept. 25.
better feeling prevails tonight in rela-
ton to the Bartholomew defalcation and the
affairs connected with it. The banks holding
the papers of George NJ and George W.
bartholomew defsulter and his son, had but
little hopes of realizing, except where col.
lateral was attached. This afternoon it is ru-
mored with authority that this paper will be
made good to at least one-half of its face
value. George w. indorsed for his father,
and the older Bartholomew was on the paper
of his son. The son had over SlOO, 900 out,
and his name was on for his father for the
same amount. If the banks are able to real
ize even one-half it will be so much to their
benefit, for this paper was considered worth
less by many. 1t is believed that Cyrus W.
Field has offered to help George W, and
thus place him on his feet
Another development today was the finding
Of the $4,000 believed to have been stolen
from the Hartford Orphan Asylum. This 10
the money offered to d. r, Howe, son of
MRS. Howe, the treasurer, on Saturday night,
and which he refused, as he did NO wish to
keep it over Sunday. Today it is learned
that in the midst of all his troubles on Mon
day, Bartholomew deposited this money with
the Connecticut Trust Company before max
ing his fiighl. The $20, 900 in securities held
in trust were exchanged for Florida railroad
bonds of less value than the original
The receiver of the Hartford Silk Com
pany of Tariffville was in the consultation
today with counsel for the Charter Oak Life
Insurance Company. story is afloat that
Lewis Co., silk manufacturers of Phila-
delphis, have 100000 second mortgage
There is $500 90 first mortgage, and Mr..
Bartholomew had q third mortgage for
amallQr q q.
ported, are in negotiation to take up the
smaller mortgages and continue the busi-
ness.
The receivers report will not be ready for
another week, when it will be given to the
public. He has ordered the tapestry depart
ment to resume operations, and this will con-
tinue until the stock on hand is made up
Receiver Edmund A. Stedman of the Charter
Oak Company was qualified in $3.50 900 this
afternoon. His bondsmen are we'll known
Hartford men of wealth, each taking $685.
900.
To reporter Mr.. Steadman said: "On
Monday work will be begun towards unrav-
elling the tangle in Charter Oaks affairs.
Local affairs will stand for time, while Mr..
Brooks and myself bend all energies towards
harmonizing the out of-the-state interests"
A private letter received here from Hon.
VIM. Fl. Barnum contains a reference to the
Bartholomew troubles, and especially as to
his use of the bonds of the Florida Railroad
Co. BY pledging them as collateral. Regard
ing this MIR. Barnum writes: Bartholomew
has left our railroad all right, not using As
much as he was instructed to by one-half
Ii is said today that when Mr.. Bartholo.
NEW went to New York last Monday he had
no intention or going to Canada. He called
on Mr.. Field, who found him in an extreme
ly nervous condition, and quite unable to
give proper attention to business. 1t was on
Mr.. Fields advice, it is said, that Mr..
Bartholomew went to Montreal for temper
ary rest and to recruit his system, which was
breaking down under the mental strain and
the effect of three sleepless nights.