News and citizen. [volume] (Morrisville, Vt. ;) 1881-current, 1886-07-15
GRIGGS, OF CHICAGO.
MS CAREER OF BUSINESS AND
LUXURY ON PROMISES TO PAY.
Purchase of the Chicago Inter-Ocrnn rs
II StarIer-An Inexpensive Yachting
Trip In the Mediterranean and AM
other Over Here.

| Trip In the Mediterranean and An.
other Over Here.
One of the most noted cases of Hun.
CRY Joe confidence business, is that OF
Samuel G. Griggs, Jr., who was under ar
rest in New York upon the charge OF
swindling a shipping agent, and.leading
him on a wild goose chase in England
under the pretense of employing him to
assist in the purchase of yacht. He
is about 25 years of age, and comes
from one of the most highly respected
and prominent families in Chicago.
His father is a well known publisher,
and his wife is the daughter of an emf.
nent Baptist divine. The young man
graduated from Chicago University in
1882, and has since been leading the
life of an adventurer and having a royal
time at the expense of other people.
As soon as he graduated from college
he determined to enter journalism. lie
endeavored to purchase controlling
interest in the hoening Journal, of Chi,
cago, and failing to do that decided to
capture the Inter Ocean. That corpora
ton has a capital stock of $500, 600,
nearly one-third of which was then in
the treasury, unsold. Young Mr..
Grirgs went about among the stock
holders, and, by offering higher price
than they supposed their holdings were
worth, purchased about third of the
stock, and gave his notes payable for it
sixty days after date, the notes and
stock being deposited in the Chicago
National Bank until payment was made.
Then he went to William Penn Nixon,
the manager of the Inter- Ocean, and en-
deavored TO buy the treasury stock, not
yet issued. But Nixon, not having
sufficient confidence in the young mans
ability to make the payment, declined
to waste any time in negotiating with
him, and Griggs went away angry. He
next sought Cyrus Ii. Mccormick, the
son of the late manufacturer of agricul-
tural implements, who had just inherit
ed from SO, 100000 to $50, 900, 900.
Mccormick at this time was counting
the sister of Griggs, and being in sub
missive mood, was persuaded to go to
Nixon and purchase the stock. The
latter was very ready to welcome man
with as much money as Mr.. Mccormick
into the Inter- Ocean Company, and sold
him the stock at price less than Griggs
had offered for it. A few days after the
sale was made, and while Nixon sup
posed that Mccormick was buying on
his own account, Griggs obtained pos
session of the stock on the pretence of
having it transferred to his name, so
that he might vote it at an approaching
election of directors. Mccormick,
having full faith in the honesty of his
sweetheart's brother, gave him the GER
tifcates, and, much to the establishment
of Nixon, young Mr.. Griggs walked
into the Inter- ocean office and demand
ed that the stock be transferred to him
self, eNplaing that Mccormick was his
representative in making the purchase.
As soon as the transfer was complete
Griggs, instead of returning the certi-
ficates to Mccormick as he had agreed,
took them to the Illinois National Bank
and there borrowed $37, 500 with the
stock as security. With this money he
went over to the Chicago National Bank
and there took up the notes he had
given in payment for the shares he had
bought from other stockholders. Then
he had a controlling interest in the
paper, expecting to hold it until the
Board of Directors was elected and he
had placed himself in charge.
His next move was to visit all of the
newspaper offices and select his staff of
assistants. He had been a scribbler for
the press in college, and was familiar
with the abilities and usefulness of local
journalists, and his choice showed rare
judgment. BY offering exorbitant sala-
ries he secured promises from number
of editors and reporters that they would
take positions under him, and told them
as he told other people, that he had in
herited large fortune from his grand
mother in Rhode Island. But before he
could carry out his scheme Mccormick
came down upon him, and the affair was
settled by Mr.. Griggs, ST., and Dr. Lor-
inner, whose daughter was to be married
to the young swindler in few DAYS.
The wedding was held, and to get the
the young man out of the way, his
father and father-in-law each contribu-
ted $500 to pay the expense of we'd
ding trip to Europe, hoping by the time
he returned the scandal would be for
gotten.
After making journey over England
and Scotland, and by letters of intro
ductiOn secured an entree into fashiona-
BILE circles there Mr.. Griggs chartered
yacht of an English nobieman for 81 900
month, and made a cruise of the Med
iterranean. The yacht was completely
stocked for three months cruise before
he left Southampton-all on crcdit-and
after visiting all of the fashionable ports,
and seeing everything this side of Con-
stantinople, the young man sailed
around to Liverpool and there took a
steamer for New York without paying
his bills. The nobleman, who was out
So, 600 for the use of the vessel, had to
pay all of the liabilities to release it from
libel, and found his acquaintance with
young Mr.. Griggs had cost him some
where about $1,000. He sent man to
Chicago to collect it, but never got any
thing.
Soon after his arrival in New York
Mr.. Griggs, having acquired taste for
yachting, repeated his adventure with
equal success. He purchased yacht
from Mr.. Duryea, the Glen Cove starch
manor rather agreed to purchase it i'll
case it suited him after he made q cruise
and, taking his wife aboard, sent the
skipper out for long invoice of sup
plies, Which were furnished on credit.
After making voyage to the West In
dies, and as far north as Bar HarbOr,
Mr.. Griggs put in at Boston, and, with
his wife, was handsomely entertained by
the friends of his and her father in that
city, where both of them had formerly
resided. He returned the hospitality by
giving elaborate dinners and excursions
upon his yacht, his credit being good
there But Mr.. Duryea and the mer-
chants who had supplied the vessel at
New York heard from the skipper that
the crew had not been paid, and began
to feel little nervous. They sent a
man down to Boston, and Mr.. Griggs
settled their accounts by drawing bogus
proIessed to Ce very njqlghhic gilas lis
honesty was suspected, surrendered the
yacht, and returned to Chicago, where
he was followed by his angry creditors
as soon as their checks were returned to
them endorsed mo funds" Like the
English noblcman. Mr.. Duryea was
compelled to settle all of the bills to
save his vessel from seizure, and they
amounted to several thousands of dol
lars. He went to Chicago for the pur-
pose of sending young Mr.. Griggs to
prison, but his heart was softened when
he discovered the distress of the bows
father and fatherin law, and Welded to
their plcadin9s. MIR. Griggs, Sr.. cashed
the bogus checks, and Mr. Duryea re-
turned to New York satisfied.
Soon after this adventure Mr.. Grigrs.
with no capital or credit. and in the
face of long columns published in the