Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-06-08
DIRECTOR YOUNG ACCUSED.
Arrested for Defrasding the Millward-Clif
Cracker Company.


PHILADELPHIA, June 7.-Ephrainl
Young, President OF the Millward-Cliff
Cracker Company and Director in the
Spring Garden National Bank, was ar
rested Yesterday afternoon for conSpir-
ing to defrand, and placed under $50, 600
bail for hearing before Magistrate
Devin on Wednesday next, at twelve
o'clock.
The information upon which the war
rant was issued was furnished by Il.
Broom Beltield, director Of the Mill
ward Cliff Cracker Company, who
charges that Ephraim Young, Frank
Brenton and Francis w. Kennedy en-
tered into a conspiracy to cheat and de-
fraud the said company Of its promis-
sorry notes, and to subject it fraudu-
lently and Illegally to a very large pecu-
mary liability.
Ephraim Young was the President Of
the Milward Cliff Cracker Company and
director in the Spring Garden Bank.
Frank Brenton was Treasurer of the
Millward-Cliff Cracker Company. The
affidavit further charges that Francis
w. Kennedy, the President of the Spring
Garden Bank, conceived a plan to give
a false credit by false appearance Of
assets to the Spring Garden Bank by
procuring improperly and fraudulently
the signature or Endorsement of the said
cracker company to promiSSory notes,
which notes were deposited by him with
the Spring Garden National Bank and
in some instances discounted by it.
Brenton, the Treasurer Of the cracker
company, yielded TO the request of Ken
nedy to make or indorSe said notes, and
Young was cogniZant of the fact that
said notes were thus improperly made
or Endorsed and were improperly used
by said Kennedy in the Spring Garden
Bank
Notes amounting to $50, 900 were made
and Endorsed in the manner above stat
ed, and of that amount about S34, 500
were discounted at the bank. The ma
jority Of the notes were made by Gay
lord & Co., of Buffalo, n. Y, defunct
pie baking concern, to the order CT Mill
wardClitf Cracker Company, and by it
Endorsed. A numb ,r of them, however,
were made by the cracker company to
its own order. The following is par
tial list of the notes thus fraudulently
issued: February 90, 1891, note for
$1,000 made by Gaylord & Co., and in
dorsed by the cracker company.
March 20, note for $1,000, same maker
and indorSer.
April l, note for S., 900, same maker
and i.ldorser.
April %, two notes of $4,000 and
50, 500 spectively, same maker and in
dorser.
February :, 1891, for $4,000, by the
Cracker Company to his own order.
February 20, 1891, note for $4,000,
and MAI CHI :, 1891, a note for 81 900,
both by the Cracker Company and to its
own order.
In several instances notes were dis
counted to take up old notes and any
difference in the amount was made up
by Young issuing his personal check.
1t is the requirement of the bylaws
and also custom Of the Millward-C Cliff
Cracker Company that all checks or
notes issued or Endorsed must be coun-
tersigned by the President. None of
these notes or Endorsements, however,
bear the Endorsement of Mr.. Young as
President OF the Millward- Cliff Cracker
company.
Young accompanied the officer who
arrested him to the Magistrates office,
and at the same time dispatched a mes
Senger in search of bail. After waiting
at the Magistrates Office for more than
an hour John McConaghy, of No. ITO
Christian street, came forward and
qualified in the sum of $4,000 for
Young's appearance before the Magis-
trate on Wednesday, June 20, at -
o'clock.