Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-06-07
ONLY A DRUMMER.
The Remarkable Exploits of a
Yankee Pill Peddler.
THE Barring BROS. FAILURE.
How the Mcneyed Head Of the Great
Financial Firm was Turned by the
Panoramic Pictures Drawn
by Charles II. Sanford.

| New YORK, June Gas soon as the col
| lapse OF the Barring Bros. was announced
| the New York World sent a staff cores
| pondent TO the Argentine Republic to inquire
| into the investments which precipltated the
| failure. The correspondent made thor
ough investigation, and his report makes
| remarkable story, showing how
Charles H. Sanford, Yankee drummer
for the sale Of pills and toilet preparations,
| first gained a membership in the American
| firm of S. B. Hale & Co, in Buenos Ayres,
and after making $1,000, 900 by single
| financial coup, went to London and won the
confidence of Lord Reillistoke, head of the
| tine, he invested millions OF the
Barings' gold in doubtful enterprises
and securities. Twenty-Five years ago
| Sanford was on the east coast OF South
America, and Travelled as drummer of q
| New York firm dealing in drugs and chemi-
| attention 10 the firm OF S. B. Hale & Co,
whose members were about TO retire. He
used the maternal love of Mrs. Pear
| son, daughter of Samuel Hale, and
wife OF John r. Pearson, as a
| lever to further his interests. He argued
| THAT THE GLORY
of the old house of Hale g. Co. might be re-
vived, and that in its operations there was
| brilliant future for Mrs. Pearson's sons.
| The ambitious hopes thus filled in the
| lady's mind, forced cooperation in
| the minds of other feminine membeEds
| Of the family, and although M
| Pearson demonstrated, the house of Samuel
| B. Hale & Co. was continued with the pill
| drummer, Sanford, as one of the partners.
| Sanford obtained full control, and engaged
| in a foolhardy enterprise which would have
| ended in ruin but for the private fortunes
| of Hale & Pearson. Then came the stroke
of the Yankees life, thus described:
| After the revolution the provincial
| government found it necessary to oonsoh-
| date its debt. In order to accomplish this
| purpose outstanding loans had to be
taken up, including the popular
| Loan held by Hale s. Co.
| The real ability which Sanford possessed
now became apparent. Through no antici-
| pations of his own, the loan had failed, and
the personal resources of the Pearson
family alone
SAVED THE HOUSE.
Sanford counted on the immediate sale of
bonds, and the failure of the public to buy
| was a crushing blow to his pride. San
ford intrigued with the government in be-
rent here that he subsidized certain officers
whose favor was useful to the
realization of his hopes. Gold and
silver were now at par. The loan was
taken up by the government in paper, and
the safes of Hale & Co. were cleared of GER
tificates which cost the firm many anxious
moments and sleepless nights. European
loans were paid in gold and the profit which
ensued, solely by reason of good luck and
the parity of gold and paper, turned out
profit of upward of 81 ,00O, coo.
LONG, VARIED AND PANORAMIC.
Shortly after Sanford went to London,
where he besieged Lord Reillistoke, head
nf+ of Do, I 4
and panoramic was the tale poured into
Reillistoke's ears. Sanford talked to him
about the extraordinary resources of The
Argentine and unbounded prospects of the
country. Soon the head of the Barring
Bros. was heard to say that Sanford was
the cleverest man he had ever met. When
Sanford departed from London, carrying
with him the confidence and admiration of
Reillistoke, and with the millions of the
Barring Bros. behind him 10 spend and in
vest, universe of chances were revealed
to his triumphant vision.
The correspondent then relates in detail
the story of the investment of Baring's
gold by Sanford. First he was compelled
to subsidize the government officials
to obtain great waterworke contract
This part of the story is told
in these words: The estimated cost of the
waterworks, upon which interest was to be
allowed, was SIG, 100000 in gold. The price
tn through S. B. Hale 'A' & ' Co
was 81 100000 in gold, payable to
the minister OF finance in three inssall-
ments. This was the public price, but
there is
ANOTHER SIDE
to the business, and it forms dark chapter
in the record Of the Barring Bros. bank
Nothing is concealed from the government
in Argentine, without price, as has been
described in the correSpondence
The officials, from the president down to
the janitors, in public offices expect consid-
Grafton for their services in addition to
their regular stipend. The procuring of
the concession was obtained, as was pre-
viously mentioned, by Charles H. Sanford |
and a greater coup d. etat was never &C
compished in the delectable capital where !
BRIBERY, CORRUPTION AND FRAUD
thriyed as they rarely do elsewhere. In |
order to secure great contracts, Sanford |
was compelled to bid high, and the success !
that he attained placed him on the pinnacle !
toward the apex on which the less fortu-
nate operators Of the speculative market !
gazed with eyes fraught with admiration.
Juerez Coleman was the chief executive |
of the Argentine republic He was ripe for |
Doodle before he had warmed the presiden-
tial chair, and at the time the concession |
was granted the Barring Bros, through |
Sanford, his need OF money wasygreat.
DR.. Wild. another of the gang of sharpers
who formed the Doodle ring of the Argen-
tine, was secretary of the interior To
these two worthless Sanford addressed him
self and their favor secured to him the |
concession. Coleman received upward |
of 100000 for his ''fee'' in grant
ing the concession. An additional
sum of S100,O 900 was also paid to the presi-
dent, if the statements of some Of the most
responsible here are accurate. The minis