New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-09-24
G. NJ. BARTHOLOMEW'S DEBTS.
ESTIMATED LOSSES OF VARIOUS BANKS.
CONDITION or ENTERPRISES IN WHICH HE HAD
HAND-sgNDING A DISPATCH FROM MONTREAL
tBY TELEGRAPH THE rRIBUNR.l

| CONDITION or ENTERPRISES IN WHICH HE HAD A
| BAND-sgNDING A DISPATCH FROM MONTREAL
tBY TELEGRAPH TRIBUSRl
HARTFORD, Sept. 23.-There is no longer any
doubt that George NJ. Bartholomew is in Montreal.
From there he telegraphed to his family Wednesday
The investigation OF his affairs proceeds as rapidly as
possible where so many companies aud interests
are concerned His defaicatons are IN so many
directions and his paper Is so generally held Dy
banks In this part OF the country that IL 10 impossDlo
TO get At anything like accurate statement OF the
| different amounts. The Charter Oak Life Company's
business will be at . standstl until Receivers Brooks
| and steadman can secure the necessary bonds OF
S5Oo,0oO The vaults sealed this morning and the
clerks were given . holiday This morning Henry u
Robinson, attorney for the Phoenix National Bank.
through Commissioner George p. Mclean filed peti-
ton with Judge White. of the Probate Court for the ap
pontment Of trustees for the estate OF George NJ Bar
thoomew. Tho debt is about $4,000. His indebted
other banks In city s estimated as fol-
lows:
Hartford National, less than S500o0 First National
about $1,000 Farmers and MechanlcS said by bank Off,
to be small while reports give the amount as
5.0OO with $25, 900 secured by good collateral
Exchange National Bank $4,000; Charter Oak
National Bank 800 o00 part cured and some
Union Mil paper; Mercantile Natonsl Bank, $23,oOo'
most OF which n Barthoomew VS. paper with his sons in
dorsement; Ena National Bank, not over $4,000;
Phoenix National Bank, estimated at $4,000; Ameri-
National Bank, estimated at $20 000 all secured
These amounts comparatively small and will not
affect the banks Much Of the paper, at least haf' Is
with good collateral and the banks all have surplus
from which to pay the remainder OF the loss
The saving banks held little Of the paper. The Me-
chancs Savings Bank had $2l 900 of George W. Bar
thoome VS. paper indorsed by his father aud covered
by collateral or the banking companies, the Connect
icut Trust Company had $4,000. all Union Mills
paper Connecticut River Banking Company, not over
$4,000; Hartford Trust Company, $4,000 Union Mills
paper.
Bank Examiner Mygatt who examined the National
banks after the Plunkett defacaton is in
town to-day. He says: "Whatever loss the Hartford
National banks may sustain on the Bartholomew paper
will only affect their surplus earnings and that not Sc
rously The paper OF the Hartford SILK Company and
the Union Manufacturing Company with bis indorse-
ment is OF worth little. being unsecured, save
by the property OF the nsolvent corporations This
will be lost largely. The bonds OF the Florida
| Land improvement Company are said to be
| good. These are held some extent
as he had the handling of them; The
notes that Mr.. bartholomew falsely negotiated. The
Electric hps .a9 WI stock ss sos iH 0ss she
company is permitted to 90 on. meeting OF the d.
voted to ask tho persons holding the companys paper
with Bartho lomews Endorsement for few days delay
1t was stated yesterday that George Barth olomew.
the son. had liabilities OF 81 $4,000 ard no assets Is
expected to-day that lie viii pay 80 l3 cents on the
| Orphan Asylum. Mr. BartL olomew held $4,000 OF
the funds OF the asylum In good securities On satur
| day Mr. Bartholomew handed over $4,000 ID bonds,
| dschargng the debt .
Mr Bartholomew Saturday stated to the directors
OF Charter Oak Company and to Its attorney that he
felt desrous pay the 81 05000 due to the company
He gave to Secretary Willard package Of Sl4O,000 Of
| Virginia mining stocks and bonds He thought they
| were worth $4,000. The Emigrant Aid Company was
chartered with alimt OF Sl,0O0000 cspltaL recent
| report placed the paid-up capital at 100000 This
said to have been in existence IN 1882 According
| to the report made In April, 1882 the general
business named at $264.6i3 l5 Among the assets
were 10000 acres Of land In Iowa worth from 81 20 TO
ST all acre. Four hundred thousand dollars worth OF
| land had been sold, which 100000 had been re-
| ceived, the boance to be paid In years time Tie
business Is known to have been profitable IL 10 SAID
that company may have some OF his paper or that
he NAV have issued his own responsibility as
ts As trustee for the Waklnson estate he
| is reported about 81 1000 short
| No one has vet ascertalned where Mr.. Bartholomew
sank his money His en- terprises were usually success
| ful, so far known, and although he PAID a
| large interest account, being a large borrower
| his profits and salaries must have more than made
that good His salaries must have amounted to between
$4,000 and $4,000 year for the last twenty years
and expenses were not large. as he was frugal man
He had no rating at the commercial agencies. because
he never made statement OF hi. affairs Neverthee:s
he was enabled 30 borrow much as he wished IL Is
surmsed that he converted large amount OF prop
erty into United bonds and taken them to Mon
| trea.