Telegram-herald., 1886-10-04
Ire LesscN o. sAgT1oL oMga.

T1E LESScN OF SART F4OLoaEa.
i4af Blngbazason papsr Is rlzht wbsu
& says a esll4a1lty Ought u ave sense
saoagl b klo4 shsn . assn L. l9sdsd
~iEL a.. the trslsf fands he can carr and
ga 0n8z every ythlag y hsm after ns =
blaasd a.. il - poor policy - ten Pt
ssea tAs most trusted men - Speculate
EIsl other peoples monsy. Asn @ho
are trusted y everybody are tsaglt ~
cave TO uGeh conl1eles Ia themselves,
AM Ia their o~n bus LESS abilities. 1hey
think they esA safely take usks shleh
others coulI Lot, All trust ~ their sope-
riof business abilities 10 carry them
through Furthermore, 10 load . InAn
ap @itA tr..at fluids and sxpeet be VII
manage ths4 50 Is 10 pay large interest
aot only encourages nlm ~ speculate in
hazardous risks, bat Iushe2 hlm ga 10
speculative gambling. Que afternoon II
March, lct5, eK Jadgs ISRAEL ). SPES-
CEH Was Round dead IN eLA-r IA his
Office Ia ~ racuse. lie vac about seventy
yea1s u 4ze, al old resident Of the city,
hal long been one Of the moss active
members II The Presbyterian church,
aud 10 more saDctimOnlOus man ever
walked the streets of the city. tie vas
considered fair lssye OF, and an expert
ia al that pertsined 10 the management
of estates. 10 his business transactions
hs appeared u bs exceedingly prudent
aud careful, and WAS 50 precise IA his
methods a. o. make il aimost painful to
10 business With him. In consequence
0f bis careful methods and the confidence
which was placed IL him By eyers body,
he was entrusted with the management
IL numerous large estates, as we'll as
many small ones. HE body had scarcely
been lad away IN OakwOod cemetery
when gossip began 10 be busy with the
affairs OF his estate. His books, which
he had kept closely guarded by
himself while hs lived, were examined.
aud instead of finding the great accuracy
aud 81 stem ehich was expected, every
thing was in a state OF chaos. Expert
countants were set at work, and every
step of their progress developed worse
state Of affairs than the preceding one.
IL v as only last week that a report of the
last expert who has been at work at the
accounts was given out. IL shows that
there is missing about 100000. and no
one knows where II went. Ia one estate
alone the default amounted TO $4,000.
The accounts are not yet sll Strengthened
/ and Il Will never be known just how
much this heavy defaulter robbed his
clients o., nor Whist he did with the
money. II is, however, the current belief
that be lost a large part Of It through
margin dealings in Wsll-st.
Here was q man whom the public had
as good reason for trusting as any insr
on earth. Every indication OF his char
scter inspired confidence. Everybody
who knew him was ready to assure every
enquirer that there could be no question
as to Judge SPENcER's integrity, and ye
be was deceivng them all. and died sur
rounded by the confused records which
were the only witnesses Of his years o
deceit, hypocrisy and crime. BAgTHoLo
NEWS case is not so exceptional as to b'
solissry. General GRANT at Mt. McGre
gor. and the victims OF Archbishop PUR
CELL, es well as thoee OF Judge SPENCER
emphasize the general warning that ther'
IS no NAPoLEoS OF finance with bor
rowed money and trust funds.