New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-20

Upon the i.cOvery OF these facts inc appl'auoh
for receiver made in suit by Mr. Archer
director of the company against Durham. The mo
ton was granted by Justice Lawrence, in The II
preme Court. Chambers. and Henry J. Broker. the
president of the IL. j. Broker Importing Company OF
No % william-st.. named for the place. TINS
company deals in castor oil. The Union Trust Com
pany was named as the depositary for the funds col
lected by the receiver.
A PROFITABLE BUSINESS.
The Ca,scn Company was organized in $500, with
a capital stock OF $50 900. to purclas" the American
plant OF CaSscn Is Co., an English corporation lAr
company has always paid good dividend Durham
had been the manage Of the LnglisA hOu>c. and
when the new corporation formed he bought
$4,000 In stock and made president Inc
complaint in this suit declares that Durham had 10
borrow money 10 pay for his stock. when these
loans became due Durham issued the improper
notes TO meet them These notes were renewed
from time TO time The complaint says OF Mr..
Wagstai's connection with the affair:
.Slid fraudulent notes not entered upon any
Of the books Of the corporation and the facts mat
they were In existence and that the defendant was
fraudulently using the credit OF the corporation were
carefully kept by hin concealed from the knowledge
OF all OF the officers, directors and members OF the
corporation other than Walter IL. Wagsan. the treas
urer: and plaintiff had no knowledge that an? such
fraudulent notes in existence or that oscar NJ
Durham had been guilty of any Of thr fraudulent
acts and practices until June 16 1893. when the facts
above stated told him in Substance by said Wag
STAFF
The amount of these outstanding notes Is now
placed at 81 Is 500 to Sl-s 800. The officers Of the
company Oscar NJ punhau president; William
T. Bedding, secretary; Walter H. Wagslaif treasurer
and Oscar NJ. Durham. William r. Bedding Walter
Wagstaf, Hczehah ). Archer and Benjamin b. Van
derveer, directors.
MR.. ARCHFR's PERSONAL loss.
NJ Ache ol-o ctito Inst
Durham, and he has secured attachment against all
of Durhams property in this state. This suit Is on
personal note given by Durham TO Archer on May
10, 1890. for $4,000 for eight months. The note Is
unindorsed.
J. W. Chapman. the broker who negotiated the
note when at his Office, No. 81 Nassaust., BY
reporter, with his lawyer. Austin Il. Fletcher Of
No 20 Broadway. Mr.. Fletcher with Mr. Chapman
sitting by. said: MIR. Chapman has been deceived
In this affair more than anybody else. lie has
years old in The employ of the American News
Company The notes seemed regular and bore the
OF the Cassel Company. When Mr. Chapman asked
for statement Of The companys financial sta;nS, one
company had good assets MIR. Chapman week ago
advanced Mr. Durham 5000 without any security
wAGsTAFF. THE TREASURER. ACCUSED.
aMr. warstaa was certainly involved in the affair.
He could not have signed the notes and not b.
equally guilty. Further than that. lac admitted that
he and Durham had prepared the false statements
shown Mr.. Chapman. l cannot say whether we shall
begin criminal proceedings against Wagstah. but |
expect that the directors Of the company will attend
10 that us he is in the city and in their power"
Mr.. Chapman said that Durham had Of late bought
large tracts OF property south Long Island which
Is recorded In his wifc's name. An effort Will BE-
made 70 attach them. Mr.. Chapman refused 10 say
by whom the notes were now held
Brsness wa, being ,rorS al @" ygICrog
tho huld NoS and
company was in charge Of the office and William r.
Betting, the secretary. was there also but they wouid
aSairs Of Dnnham Mr.. wagstah who declined 10
say anything directly to Ie rePSr,cr sen, word
nr.ceedngs in court must be Obtained from ii. :.
Archer the cepresdedal OF NE somp %t Mr
~ had known Durham FOR years almost from a
hoy. and would have trusted him amywhcrc and with
anything. lie Was brought up ~ Mr. Partly, Of the
American News Company, who looked upon lin
son and trusted HIM completely lie bad been with
lieye there WAS a publisher In Ncwlork better liked
than he. had no time 10 look after the affair
that Whether We are liable for the notes ] do
not tnow. II is entirely u legal question; ! have
els 900 In the stock Of the company. II IS further
frdeb,.d TO me 10 the amount ~ ahoHt S3l 800 In
promssory notes and about $500 In open accounts
Tor bookbindny and
" After Mr.. Broker was appointed receiver. We also
had him appointed receiver Of the 2 iSPcriy IN New
Jersey as The company has about S3ooOco 0i assets
IN Jersey CITY. where the printing house is
Dunham's home at No 40 West fiity .,eyenthst;
daughter were al the house yesterday afternoon and
evidently aware OF The procecNlngS IN court pu.
statement reror riding his affairs. Mrs. Durham said
her LAWYER Thomas Rochferd. Of No. Wallis" would
give all the necessary Information about hcr nus
friends say that be S" Of the ",r, y
tions that are overdue or about 10 fan due.
. prcrryrp FOR TIE GEORGE l.. SOrIER co.