The times. [volume] (Richmond, Va.) 1890-1903, 1890-02-02
ROUND ABOUT GOTHAM.
The Wrecked Bsnks-The Chief Conspir-
ator Has Probably Escaped.

NEW YORK, February l.-One fact
that appears most prominent to-day,
amid the complex and not yet fully ex-
planned story Of the wreck Of three banks
is the fact that the chief conspirator has
probably escaped. Pell, the peddler OF the
stolen securities Of the Sixth National Bank,
and Claassen, the president Of that institu-
tion, who is under ARE +. seem now 10 have
been only small partners Of the boss CON
spirator James A. simmons. the
contractor, who had many stupend0us
financial and contracting schemes ON
his hands, has skipped, and SO has Nallack.
the president Of the ruined lenOX Hill Bank,
and Pelrs partner. simmons il said to have
been the chief manipulation OF the scheme 10
get possession Of the Sixth National Bank
and that Claassen was his agent simmons
took ~ shares Of the l,03j purchased from
President Leland. II is known that he has
been pressed by his creditors for money, and
the cutting of the Sixth National Bank is
regarded as ab0ld scheme for relief from
his financial difficulties.
THE EIGHTH STREET TUNNEL.
One Of Mr.. simmons, schemes was the
Richmond Tunnel Construction and Rail-
road Company, which is building a tunnel
under Eighth street, in Richmond, Va. lie
was the manager Of the company, and had
charge Of the finances. II was bonded for
81. 10000, and he claimed that nearly one
half 0f the amount had been sold and used
in constructing the work. Mr.. LELAND for
mer president of the Sixth National Bank.
has advanced funds sufficient 10 guarantee
payment OF depOsit0rs in full at as early "a
.I.t -. lf m
4 "''''' iA"'s-~ f>-crrp a.
For week past state Insurance EXanin-
ers Michael shannon and John A. Koran
have been examining into the condition of
three insurance companies organized under
the laws OF this state. and doing business
i'm this city on. the assessment plan. II iheir
surmses are true, the Guaranty Mutual
the Security Mutual, and the Mercantile
Mutual, OF this city, are practically insoi-
vent.
THE WASHINGTON CENTENNIAL.
The Plan and Scope Committee Of the
Washington Centennial celebration have
voted the unexpected balance Of the tund
20 Sl,1ll in publishing a mem
orial volume detailing the.work done bi the
various committees. etc. Most of the mem-
hers Of the General Committee wish the.
balance iuIutu 'fft 20 tH. "iN" ''"'' ~
the best possible way in which the centen-
NAL celebration could be perpetuated and
the occasion cOmmemOrated.
THE WORLDS FAIR SCANDAL.
The real secret Of the Worlds Fair scan
dal is said To be that Depew and Belden
have locked horns with Platt and iliscock.
That's the whole sum and substance Of IT,.
platt's interference with the fair bill has
.aised a new difficulty. The question has
been asked, "Csn subscribers 10 the guafan-
tee fund be- compelled 10 make good their sub
scripti0ns il they do not wish 10 DO 80, IN
case Platts men are added 70 the incorpO-
rators - The finance committee. under the
terms Of the subscription heading, has
mower 10 withhold the guarantee fund from
The corporation formed il it so desires, and
il was intimated to-day that such acton
would be- taken il necessary.
A trust among the hat manufacturers Is
being negotiated By a British syndicate.
Last Tuesday evening. Celia Luther. four
teen years Old, was sent out from her nome
i'm DelmOnlcO place. Brooklyn, 10 buy Loaf
of bread al a bakers not half a block away
She has not since been seen or heard from
Three wears ago another girl disappeared
almost this time OF the year in this same
neghborbOOd.
RICHMOND TERMINAL.
There has been considerable talk abOu
Richmond Terminal in Wall street for th'
past week in expectation Of an advance
| The following figures were supplied tn'
street By the parties in control,
The company now controls 1921 miles o
road and water lines, an increase Of z.
/ within the past year. Last year was th'
/ first in which the company had a surpiu
over fixed charges; IN every year Deion
I that since It's organization It's nteres
charges aud running expenses exceeded 10
income, and there were years ln which ~
only income was the proceeds Of loans
/ That for the first time there is credit 10 th
profit and loss account Is due TO the fac
that the losses OF previous years will b
noDinally offset by charging up 1l.JyoVV
capital as full paid, although preY0usl
carried on the books as hall paid.
The net revenue for the past year wa
SGCS 1856. the increase in the bonded der
1896. 900, the decrease in the floating del
81. 100. 1884. and the net increase IN th
total debt $500. .l6. This net increas
i'm debt is recommended by an excess Ot II
curities acquired over securities sold
Sf,l7j,Gi0.
In is probable that during the current yea
the floating debt OF little over S2V0,O'
+ net can be further reduced by the viii
drawal Of some securities. The cOmpan
. has now LEFT a comparatively small amour
OF securities which IL could Withdraw
. advantage. and il will require an eXpen7i'
[ development Of the properties which u col
/ trolls before their surplus earning power ca
: be largely increased.
p OF these the Virginia Midland is Oy u
d the most important. Although ~ now carr
but little over its liked charges, its buSlnc
o is growing as fast as that OF any ROAD IN u
: south. and il can hardly fail 70 keep
A doing so. Tor the Piedmont Air Line IL q
h main trunk line Of the south, and is equi
: ment has been largely added % and }
/ motive power largely increased during z
4. past year By the demand Of is ~ -ressii
IL business,
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