The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-10-13
NEELD'S DEFALCATI0N.
Mr. Edward Ferguson Expresses the Most I'm
limited Faith in His Missing Partner.
Chicag GO Tribune.

Chicago Tribune
Pinkerton operatives are after N. M Neeld, Of
]. c. Ferguson & Co., who ran away Thursday,
leaving behind fictitious warehouse receipts on
which he had borrowed $685. 900 from the banks:
but so far no trace of him had been found. It
was a: first supposed that he had gone to Cana
da, but some people believe that he went West.
The Bank of British North America. which was
in for $75, OO0 will prosecute him if he is caught
in Canada, while the Chicago banks will see
that he is punished if heis captured in this coun
try Detectives have been sent in all directions
to hunt him up.
James Dueli of the Beard Of Trade. saw
Neeld and his wife leave Thursday night rer the
Grand Trunk. Neeld mad on a new overcoat
and looked very spruce while he seemed to be in
extra good humor
II don't know what to think of It," said Mr..
Edward Ferguson Yesterday. ut came upon
me so suddenly and surprisingly that can't
comprehend il. have not been attending to
business for two months. My wife fell off
horse in July and has been very i'll ever since. |
remained at home with her six weeks, and then
came to the Office for hour day, and after
wards staid at home for three weeks. Recently
l came down, went on Change, and returned
home at o'clock, entering the Office merely to
get my coat. / did not know what was going on
whether any money had been made or lost. but
judged from Needs appearance, that there had
been losses. He showed 1t in his actions.
never asked any questions, and he never told me
anything. There have been many reports about
how much we owe on the board. We had $17, 900
up in margins, Ssnd rpur net indebtedness is
$40, I'll Outside of what Is due the banks and
our Liverpool agent. DIR. Goodbody, there is no
Indebtedness. The talk about warehouse re-
ceipts floating around on, the board is nonsense.
No such receipts out haven't heard from
Neeld, and do not know where he is. There is
no truth in the rumor that the family got tele-
gram from him. The last time l saw him was
on Thursday night He told me he was going to
New York to see Mr.. Howard. I was attending
to my sick wife, and walked out and bid him
good-bye He was very much agtated. He had
been excited for ten days, and the family sup
posed that his nervousness was due to the illness
we can attribute it to~other causes. His friends
had advised him to go away, fearing
he would get sick. He managed
the business entirely and negotiated the
paper. l had nothing to do with it. and
never signed warehouse receipt. There is q
the banks will have expert go over the books
for their satisfaction. AS / understand it, the
books are perfectly Straightforward no false
entries. do not know what will be the out
come. There isn't member Of the firm who
attributes any dishonest motives to Mr.. Neeld
All believe he was led into 1t by a combination OF
circumstances that he could not avoid. We hope
to be able to make some arrangement to use the
valuable plant at the stockyards and the name
of the firm, which is worth 500, 900 to the one
who uses it. My mother has a mortgage on the
plant for about $50, 600. 1t was made five years
ago, but was not recorded until recently The
mortgage was given to secure her for money
loaned to US when we came from indianapolis
and started the house, she having received tho
money from her fathers estate. I notice that
insinuations have been made about the fire in
our house at Indianapolis in 1881 The loss was
amicably adjusted. and all the insurance men
interested said everything was straight and hon
orable 1t has also been said that Mr.. Neeld
was high liver, and had a magnificent house on
Michigan avenue My father and mother, Mr..
Neeld and his wife, and my wife and myself
lived together in a rented house and shared the
expenses / don't think Mr. Neeld took away
enough to last him for thirty days. ! am posi-
tive of it, He told my father the night he left
that he hadn't any money, and my father gave
him some of the market money in the house.
and gave him $3.50 that my wife had saved
from what had given her. don't believe he
had more than 5000 or $500 And have every
reason to believe that he hasn't hidden away
anywhere single cent for himself or any mem
Der of the family. believe that he was induced
to overtrade. and lost every dollar In specula-
ton. Everything is gone; we have nothing left;
but we intend to give the creditors every nickel
we can get In the next five years"
Mr.. E. B. Howard who r<cresented the firm
in New York, reached ChicagN yesterday morn
ing and was seen at the Office He said: II in
tend to pay every cent of the liabilities if it
takes me ten years to do it, believe Mr. Neeld
to be an honest man, and do not believe that
he took away with him a dollar of any mans
money. Overtradine has been the cause OF all
the trouble. The liabilities of the firm have
been greatly exaggerated, and there is every
prospect that the firm will resume business"
Mr.. w. r. Goodbody, of Liverpool, Eng,
another member of the iirm said he was a cred
itor to the extent of $50 900 or $1,000, and ex
pected in time to get 1t ALL He believed Mr..
Need to be strictly honorable. Whatever
might have been the cause of the failure, he did
not believe it was due to any dishonest motive.