The Providence news. (Providence [R.I.]) 1891-1906, 1893-09-23
How One Firm Suffered BY 4 Great
SEindllu6 Scheme
MANY BOSTON BANKS INVOLVED
Prominent Bostonisn Turns Out to BE .
"Confdcncs Man"-Hss = Palace on
Back Bay and House IT Newport
Was Friend OF Many Miliienairss

BOSTON, Sept 8.-Thomas q. Richard
son, formerly Of the frm Of Richardson a
Dennie, the well known leather dealers at
207 Congress street, and for years promi-
pent member Of the First church Unitar-
LAM. Is wanted by the police. His SER
wants say his wife is at Newport, but they
positively refuse to say whore Mr.. Rich
ardson Is. This IL because thpre Is war
rant out for his arrest. which charges him
with securing by means of fs.se pretenses,
from one frm alone. the enormous sum Of
tl75,000.
The total amount Of Richardson's q
stealings amounts to half million or
more.
This announcement, according to tho
statements Of many business men Of this
city with whom he has had dealings,
much to their discomforture. but mildly
tells the story of an alleged swindling
scheme that he has been guilty Of for some
time.
During recent years he has, through his
church connection, been associated with
such wealthy men as the late Fred L.
Ames and S. Endicott Peabody, president
OF the American Loan and Trust company.
IL was largely through his associations
with these well-known financiers and the
fact that he lived in grand style on Com
monwealth avenue that he was so success
full in his swiudling, which some people
claim was nothing more or less than q
gigantic confidence game"
The charges Of securing wrongfully the
enormous amount Of tl75, 900, according to
well-known banking concerns. does not
anywhere near cover his misrepresenta-
tions.
His Victims Were Numerous.
The immediate complainant in the case
Is the firm Of j. S. Morgan g. Co., the Lon
don ban kers, who are represented in this
city by Jacob q. Rogers as attorney. This
firm is the heaviest loser by the crook edness
Of Richardson. but there are many other
well-known banking firms in the vicinity
OF State street who are heavy losers,
among them being such well-known
houses as Kidder, Peabody q Co. and
Barring Bros. Of London. Besides the
above named, there are many national
banks who are affected by the disappear
ance Of the leather merchant.
The first revelations of Richardson's q
crookedness did not come until some time
after the failure of the firm of which he
was the head. which occurred early In May
of the current year Meetings of the
numerous creditors of the firm were held,
and then 1t was learned for the first time
that the assets OF the concern which was
rated at $200, 900 To 100000 were almost
nothing, while the liabilities were found
to foot up to e640, 900 in round fgnres.
Until within few weeks the losers and
victims Of the firm said nothing, while
Richardson with his wife are known to
have been spending the summer apparent
ly happy enough at Newport and later
at York Harbor. Me. Finally Jacob c.
Rogers, representing S. Morgan, decided
to take legal steps in the matter, and with
the assistance OF his lawyer and police
inspector they laid their case before Dis.
trict Attorney Stevens and the grand Jury.
A police inspector made trip to Newport
and also to York Harbor, but he failed to
find Mr. Richardson.
How 1t Was Done.
According to the information CLEANED
by the City Press reporter he Is charged
with securing money from j. s. Morgan
g. Co. by means Of false pretenses amount
ing to the sum of si75,0)O. The transac-
tions by which he secured the money were
somewhat peculiar. He secured 1t for no
other reason than that he was thought to
have money, and he did all in his power to
make people think that he was among the
richest men In the city. and he was looked
mp to as bright, enterprising and most
successful leather merchant.
According to the best sources of infor-
nation aud according to the transactions
that have come to light since the failure,
the defunct firm started In, In 1881, with
capital of just $500. Their capital has
not increased one unit since, then, and, ac-
cording to some people, they have not even
been worth SO much. However. when
they failed they owe1 $4,000, and IL Is
alleged that sincc the firm started in bust
ness they have drawA out fer their per-
sonal use 100000
1t appears TINT soon after the business
had been started they secured a good rating,
and this fact. together with the prom
inent relations with Fred L. Ames, S.
Endicott Peabody ana Jacob G. Rogers,
only tended to give the banking people the
utmost confidence In the firm. Accord
ingly when Richardson as the head OF the
firm asked for letters Of credit, even
though 1t be fos many thousands of
dollars, he was rarely refused. The result
was he secured from nearly oil of his vic
Tins sums ranging from $4,000 up.
Richardson's Nerve"
It appears that I'm recent transactions
with the Morgan drm and with Barring
Bros g. Co. and Kidder, Peabody a. Co..
he was more than daring It is alleged
that in most of the cases he went to the
shove named firms aud represented to
them that he was going to receive large
number Of hides and skins, etc, and by
this means secured large amounts. on the
strength Of which he promised to pay the
firms the money just as soon as he had
sold the skins aud hides, and In some cases
for the collateral he gave orders to the
bankers, by which IL was thought that
they could secure the property on its ar
rival.
But IL Is alleged that they then were gen.
orally disappointed, as for some reason or
other there wsss difficulty in getting the
hides through the custom house. 1t was
then that II is alleged that the orders were
returned TO him. and that he then sold the
skins aud fsiled to return the money thus
secured. BY these transactions he not
only secured the amounts advanced him,
but also the sale from the property.
Mans ~ th. baoto xro~o victi,,,,,od a..