The Wilmington daily Republican., 1891-06-08
A YANKEES DUPES.
How Barring Bros. Millions Were
Sunk in the Argentine.
a sHREwD NEW YORK DRUMMER

Secures an Interest in an Old Drug
House with South American Con-
uections, interests the Barings in
His Schemes and RcveIs in the
Bribery and Corruption.
New YORK, June 9.--As soon as the
collapse of the Barring Bros. was an
nounced The New York World sent
Btaff correspondent to the Argentine Re-
public to- inquire into the Investment
which precipitated the failure. 1t is
very remarkable story, showing how
CharlesH. Sanford, Yankee drummer
for the sule of pills and toilet prepara-
tons, first secured membership in the
vol known American firm Of s. B.
Hale & Co., in Buenos Ayres, and, after
making SfQ0,000 by a single financial
Soup, went TO London and secured the
eoniidence Of Lord Revelstoke, head Of
the Barring firm, thence returning to
Argentine and investing untold mil
Hons in doubtful enterprises and secur-
itics.
The advent of Sanford is described as
follows:
The Fun Begins.
Charles H. Sanford appeared in Argentine
about twenty-five years ago. lie YVES then un-
der Us years of age, aud he journeyed hithera as
the agent for great New York firm, dealers
In drugs and chemicals.
: Mr. Sanford came TO the east coast Of South
America as u drummer for Florida water and
BristolS pills. Tho year previous the way had
been prepared for him by the Brazilian agent
Of the house Of Lanman & Kemp, q Mr.. Fales.
Mr.. Fales So thoroughly prepared the field
hat AuR faRIf faN...I A-.I
harvest II was rich one indeed, for the or
dnrs that he returned TO New York were pho
norncnal and such as the house had never be-
fore sces.
This firm failed, and Sanford turned his at
teAtion to the firm of 8. u. Hale & Co, whose
members had become so rich that they wero
about to retire. Sanford attempted TO reach
this firm through the wife Of J. r. Pearson,
who was daughter of Hale. Mrs. Parsons
snnnencc with her father and her husband
was unboundcd. At once Sanford beseiged
Mrs. Pearson.
"Why close up the house of Hale a. Cor" he
eAid. You have the sons-clever, practical
young chaps they will be- Why throw them
out Of an old busincssi"
u was by similar words and playing the
skillful fingers upon tho chords Of maternal
foudness that the smart intriguer installed in
Mrs. Pearson's mind ambition and hopes for
her boys. She listened believed, and beliey-
ing resolved TO act. John II. Pearson remon-
strnted. He was not sanguinc, and perhaps
he mistrusted the oily Sanford, but the femi-
nine portion of the family prevailed, and with
visions OF her sons as worthy successors of her
father and her husband, the ladys persuasions
led TO the abandonment of the plan of lquida-
tion, and the house Of Samuel 3. Hale a. Co.
WINS continued with Lanman g. Kemp's quon-
dam pill drummer Sanford as one Of tho part
ners.
Sanford obtained full control and engaged
In foolhardy enterprises which would have
ended In ruin but for the private fortunes OF
Hale and Pearson.
Sanford's Second Scheme.
Then came the stroke of the Yankees
life, thus described:
After the revolution the provincial govern
ment found 1t necessary to consolidate the
debt. In order TO accomplish this purpose the
outstanding loans had to be taken up, includ-
ing the popular loan" held by Hale & Co.
The real ability which Sanford possessed now
became apparent through no anticipations Of
his own. The loan had failed and the personal
resources OF the Pearson family alone saved
the house.. Sanford counted on an immediate
sale of the bonds and the failure of tho public
TO buy was a crushing blow to his pride San
ford intrigued with the government In beh alf
Of the popular loan" and II is current here
thnt he subsidized certain officials whose
favor was useful to the realization Of his
hopes. Gold and paper wero now at a par.
The loan was taken up by tho government In
paper and the safes of Hale g. Co. were cleared
Of certificates which caused many anxious
moments and sleepless nights The European
loans were repaid in gold and the profit which
snsucd solely by good luck and the parity of
gold and paper turned in profit Of upward of
&i,00o,OC0.
! Shortly after Sanford went to London,
where he bcseged Lord Revestoke, head of
the hrm Of Barring Bros. When Sanford do
parted from London with the confidence and
admiration of Lord Revelstoke he was In q
frame of mind to cry out, "Bristors Pills.were
. great starter, but this beats all the colocynth
and nloes the world ever grew"
{ Another Sharp Ruse.
Tho estimated cost of the entire works, on
which interest was TO be allowed. was s36.-
10000 gold. The price of the concession TO
Barring Bros, through s. B. Hale g. Co.
was 81 100000 gold, payable to the minister of
finance In three instalments. This was the
public price, but there is another side to the
business, and 1t forms dark chapter In the
record of the Barring Bros bank.
Nothing is conceded from the govern
ment in Argentine without a price. As
has been described in the correspond
ence. the officials. from the president
down to the janitors in the public Of
fees, expect consideration for their
''services" in addition to their regular
stipend. The procurator of the conces-
sion was obtained as previously men
toned by Charles Fl. Sanford.
And greater coup was never accom-
plished in the delectable capital, where
bribery, corruption and fraud thrive as
they rarely elsewhere do. In order to
secure the great contract Sanford was
compelled to bid high. Celman was
ripe for Doodle before he warmed the
presidents chair, and at the time the
concession was granted Barring Bros,
through Sanford, his need of money was
great.
DR.. Wild, another of the gang of
sharpers who formed the Doodle ring of
Argentine, was minister of the interior.
To these two worthless Sanford addressed
himself and their favor secured to him
siSd oOs isbOo oOoe fos bis mS,u IN arant ~
In, 4,