The National tribune., 1891-01-08
THE EYENT OF THE WEEK.

Considerable talk has been caused by the
] failure last week Of the firm Of Batcman & Co,
Of New York and Washington, and in connec-
/ ton, the individual assignment Of Commodore
/ Batement The announcement Of the suspen-
sion created little surprise IN financial circles in
/ other city. 1t was almost expected. The real
4 cause Of the troubles Of the firm are supposed
90 spring from its relations 10 English investors
4 and the Atlantic a. Danville Railroad Co. Mr..
/ Batemau has always had much 10 do with that
enterprise, acting ms its promoter and financial
ageRt Ii has been regarded rs in English con-
troll for a long time. Tightuess in the money
market and the inability Of the British invest
ors TO produce funds when they were most
needed, embarrassed the firm and forced the
assignment.
Up 10 within a few days three men composed
/ the frm-COmmodoTe Arthur L. Bateman,
Charles J.. Coon, and Walter Watson, jr. but
/ the fast intmation Of the impending suspen-
sion was notice Of the withdrawal from the
/ firm Of Mr. Watson sent 10 the Stock Ex-
I change. This, however, did not create unusual
comment bat in the afternoon Of the last day
Of the year rumors began to circulate on the
street IN regard TO the firms difficulties, and
/ though many offers Of assistance were forth
coming after several conferences il was decided
I TO suspend the business.
The liabilities of the firm are estimated at
! S75o000, and the assets at Sl,500000 Prefer
ences are made among the creditors of $4,000
/ 20 the Fourth National Bank for loans and adj
vauces and $4,000 to Baldwin, Farnum q Coz
I correspondents Of the firm, for money advanced
on margins.
The firm has long been known In Wall street
] where Commodore Bateman has been one Of the
/ picturesque figures for half dozen years, and
/ Mr. Coon has been highly regarded since he
retired from official life in Washington, and
/ became known 10 the New York brokers and
4 bankers. Commodore Bateman was Masters
Mate in the Navy, and is a relative Of Senator
l sherman. lie retired from the Navy and
opened Office in this city as banker and
/ broker with New York connection. With him
at the time was associated Col. w. W. Dudley.
/ Col. Dudley is now suing Commodore Bateman
+ for alleged balances due him, growing out Of
dealings at that time. Douglass Green, young
4 New Euglandcr, the other partner AZ that time
/ disgraced himself by leaving his wife to run of
20 Europe with a Chicago widow, Mrs. McCrea
daughter Of millionaire Smell, who was killed
< by Tascott After his withdrawal the firm took
! its present name.
Commodore Bateman was an extensive dealer
! in real estate here, and about three years ago
! was said TO be worth S2,J00O00. dis stock
| transactions then were important, and il Is be-
/ lieyed that he made a great deal Of money be-
cause OF his belief in the short side Of the mar
! ket He still retains considerable property in
4 Washington He WIS well known, too, among
l ehGhAliE lntuH III LIE bleAlhtIs Lib AlRAGots lt
| made frequent trips along the Atlantic Coast,
/ and two months ago he returned from an eK-
/ tended tour IN the Corouet in European waters.
/ One Summer he made an excursion 10 Nova
/ Scotia, taking Gen. Sherman and other notables
1 with him. In politics Commodore Bateman
was active, especially in support Of the Prcsi-
/ dental aspirations Of John Sherman. in 1883
he secured place AS a delegate to the Republic
| can National Convention in Chicago from John
/ J. O'Bricn's district He went there as a Sher-
man advocate and did his best 30 further tho
cause of the Ohioan. He stands high socially,
and has house on Fifth avenue New York,
and AZ Tuxedo.
Charles H. Coon Is well known in political as
well as in financial circles. lie WIS Assistant
Secretary Of the Treasury under President Ar
thur, going out Of Office, Of course, with the
change in the Administration. lie saw two
years war service i'm the 23d New York. ia
1864 he was appointed a clerk IN the Treasury,
aud he rose steadily in the Department. Al
the time be was appointed Assistant Secretary
he was Assistant Chief Of q loan division. On
two occasions lac went TO Europe on missions
connected with funding negotiations. On lcav-
ing Washington he went 10 New York, and
about two years ago became partner in the
Bateman firm. Mr.. Watson is a young man
aud has been a member Of the Stock Exchange
since Feb 2s 1883