The Dickinson press., 1891-06-13

New YORK, June Gas soon as the
collapse of the Barring Brothers was an
nonnced the New York World sent
staff correspondent to the Argentine Re-
public to inquire into the investments
which precipitated the failure. The
correspondent made thorough investi-
cations and his report makes a remark
able story, showing how Charles II. San
ford, Yankee drummer for the sale of
pills and toilet preparations, first Sc
cured membership in the American firm
of S. B. Hale & CO., in Buenos Ayers
and after making s1,0OO,00O by single
financial coup went to London and won
the confidence of Lord Revelstoke, head
of the Barring firm, thence returning to
Argentine and investing untold millions
of the Barring gold in doubtful enterpri-
ses and securities. When Sanford went
to London he besieged Lord Revelstolse,
head of the firm of Barring
Bros "Long, varied and pano-
ramic" was the tale the man poured
into Revelstoke's ear. Sanford talked
to Revelstoke about the extraordinary
resources of Argentine and the unbound
ed prospects of the country. Soon the
head Barring was heard to say Sanford
was the cleverest man he had ever met.
When Sanford departed from London,
carrying with him the confidence and
admiration of Lord Revelstoke, and with
the millions of the Barring bank behind
him to spend and invest, the universe of
chances was revealed to his triumphant
vision. The correspondent then relates
in detail the story of the Investment of
was obliged to subsidize the government
works contract. This part of the story
is told i'll these words: The estimated
cost of the entire works on which inter
est was to be allowed was S3650000O in
gold. The price of concession to Barring
Bros, through S. B. Hale & Co
was $21, 100000 in gold, payable
to the minister of finance in three
installments. 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
conceded from the government in Argen-
tine without price. AS has been de-
scribed in correspondence, the officials
from president down to janitors in the
public Offices, expect consideration for
their services in addition to their regular
stipend. The procural of concession
was obtained, as was previously men,
toned, by Charles III. Sanford and, a
greater coup was never accomplished in
this delectable capital where bribery, cor
ruption and fraud thrive as they rarely
do elsewhere. In order to secure the
great contract, Sanford WIS compelled TO
bid high and the success that lie attained
placed him on a pinnacle toward the
apex of which less fortunate operators of
the speculative market gazea with eyes
fraught with admiration. Jnarez Gel
man was chief executive of Argentine.
He 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. DIR. Wild, another of the
gang of sharpers who formed the Doodle
ring of Argentine, was minister of the in
terror 10 these two worthless Sanford
addressed himself, and their favor Sc
cured to him the prize. Celman received
upward of $5OO,0O0 for his fee in grant
ing the concession. The additional sum
of 100000 was also paid to the presi-
dent, if the statements of the most re-
sponsible men here are accurate. The
minister of the interior received S5O0,000
for his share. 1t proved q difficult task