New-York tribune., 1890-04-02

account was opened on the books OF the company
in the name of J. b. Cleveland, the brother Of
OTcstcs Cleveland and the present Treasurer OF
Jersey City. The moneys OF the Dixon Company
were freely used and charged, now to the account
Of Orestcs and now 10 the account of Jerry
Cleveland At this time there great talk in
Jersey City about the Nicholson paving job and
" tie Reservoir job, in both Of which j. b. Cleve-
land WAS made the scapeeoat.
Ills WORK BEGAN EARLY
In the committee report 70 the stockholders on
April Il The following paragraph occurs:
Mr. Clcveands irregularities began at early date
by overdfawing his personal account ana allowing MS
brother j. b. Cleveland 10 do the thing until. at
the beginning Of 1870. their united dciacaton reached
the sum Of $l991s4 r.
At time when the financial burden was heaviest
on Mr. Cleveland, on a certain afternoon he limited
to The secretary of the company at the overssuc
of 81 90 20 of the companys stock to be passed 10
the firm If Fowler Champion & Co.. saying that
the necessity for it would be over in thirty days,
and it could come back and be destroyed. This
scheme. however. was not accomplished. owing TO
the refusal of the secretary, without whose sig
nature the certificates were valueless to join III
the undertaking.
The books of the Dixon Crucible Company show
that the firm Of Fowler. Champion & Co.. when
the latter went to pieces, owed tie Crucible Com
pany all told, S697,144 II on account of the
paper put forth by Mr.. Cleveland to complete his
Court House speculation. Fowler, Champion &
Co.'S failure was about rs complete as il well could
be- for they did not pay one cent on the dollar.
DISCUSSING THE REPORT.
Richard Butler president Of the Butler Hard
Rubber Company, No SO Mercer-st., was the chair
al h, bn ctcpl--
holders to investigate the condition of the Dixon
Crucible Company when it was found to he en-
barrassed by Mr. Clcvcand's methods Mr. But
Ter was seen at the Union League Club, where lie
lives. by o Tribune reporter last evening. lie
could not use language forciblc enough, he said,
in repeatng all the allegations contained in the re-
mort of the committee of which he was chairman.
All the allegations were true when the iepor'
WAS written and they were true to-day MI
Cleveland had heard the report read he sad. ana
he never attempted to deny that its contents were
truc Mr. Butler said that be could not from
memory recall just the amount Of The PERSONA
dcfalcat on but il was about 100000. Mr. But
Ter continued:
At that time and few Of my friends lends hcd aeo%'
one third OF ne stock OF y iNo 10 D cent ON tbc MONEY
We had invested paid little or no ai'ei,'"n 10
~ ~ thn 7ro~porr,tis,n We trusted him implicitly.
rinallv I'M. papcr which he had been puiLnS out
and then the stockholders hearing 81 tAat i'' br-'i
the invc,tjcaton which resulted in the report when
was made by the other members of the committee ana
myself. That report made Nr. Cleveland 'V".,I,
thief and he could not deny it, lie never ha~ crnic'i
il either and if ! had my way about it he would havd
been IN the state prison al Trenton long ago "'rc nc
~0sncrte him and mt him vhcre he belonged when u
wa> made clear that he hat stolen such li-' sum "i
money. but owin- to a tmidy on the part OF the
a., al
TIMID STOCKHOLDERS.
MANY of the stockholders although well-todo men,
depended to large extent upon the income they 70
covcd Of 10 per cent upon the money invested IN the
Dixon Crcihle Company. They were afraid t'at tAo
cxposure w0n-i disastFOu, to the nerc-t OF the
company that they would not only find their incomes
cut of hut that they would loc the money which thfy
had invested. Nothing cond induce them to chanfe
their minds, 50 the WLor Alil,t. wa, 4'p''' "a,
shares Of the stock which Cleveland he'd were mort
gagged for more than thc,r par ''iHr' 80 D., lr' w.,
owned none of the stock Hui hc i1Ah'i one "i '"'
bc,t paying enterprises ID the country ana IL ha b.,
great wonder that The co'nlAi; na' 'ci "'o % J." i'
what that mm stole from IL ana lnl l'-'i, "I " ''''.
financial basis again. il Is n2" abont 10 De- thcn OF
Of the receiver, hands and the ldct that t ha- cor
Icd this terrible load imposed upon IT h' 'irN'iiHs
t,alinGs shows what wonderful lrfa T"rtVr power 10
had and demonstrates what splendid Investment II
Chancclar Rnnyon saws that there has never been
ANYTHING Ike it 100 the history Of NcWJrre ef corpora
tious IT, SAYS that when he appointed the receiver
tho company was apparently ruined past redemption.
and that il is marvel hOw IL managed to pay for the
stealing of its manager.
Mr Batter expressed his satisfaction % know
that Cleveland was about to he exposed and lis
career ended lie expressed willingness to d"
anything in his power to accomplish such an OBJ
iect. and assured the reporter that he Was per
fcctly willing u be quoted rs denounclng Clevc-
land as q robbcr and "A thief lie declared tho'
many prominent men in Jersey city knew all the
details Of Clevcland's connection with the Dixon
Cruciblc Company, but tie fat Lad never before
appeared in print for Tia" reason already cN-
planned, that they were afraid that its publication
would he inimcal TO the Interests of Tie company.