New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-09-01
WAS 1T A "EITINGv BAvR,
BEAUTIFUL CHECKS ISSUED BY A F1N.x
Ger AT CoCHEcToN.

| L. B. osMuN DID A RUSHING BusINrss nv
WHICH is NOW SENT TO CREDIT CON.
PANY" HAVING DESK ROOM IN
THIS CITY HIS AGENT HAS
LEFT THE TOWN.
! Cochecton N. Y. Aug 81 CspeclaD.-About I'M.
Is or 16 stranger arrived in this hamlet from ~.
East. He waT apparently about forty.ave 49,
f, old, short and stout. From the station he INN.
diately went TO the village postoffice and inquire.
for mail for l.. Il. Osnun There was none ,hs
and he asked the postmaster where he could o., "
nights lodging. He went to Dewitt Kna,,,
hotel. where he stayed till morning after vh.s
he again hurriedly visited the postoffice and NJ.
finding any mail awaiting him, started for ~.
East Erie local train About week ,a,..
another stranger arrived and engaged board =.
the hotel. He was about forty years old Ha r.
since remained In Cochecton. except for fan
days when he went TO New-York He PAM.
scented himself to be the clerk OF l.. b. Osmu.
banker and broker of New York. He said his hor
was IN Brooklyn. Immediately there began 10 any
pear In circulation at points all along the Dell.
ware Valley. between Port Jervs and as far wa.,
az Binghamton handsomely engraved checks =,
the Bank Of L. b. Osmun. Cocheeton, " Y" Thu
appearance Of the checks was a great sunrise %
the country merC hants. who thought they were
pretty well informed the resources OF Cochecton
inhabitants Was able to support banking instau.
tion Then there was issued and mailed extensive
iy to New-York bankers. as it is now learned, the
following circular:
l.. b. Osmun, Banker.
Cochecton, y. Y, August
ton Office as above, and solicit collections from
banks, bankers and the trade for any part OF suli
WANNA points Prompt attention given nenn
correspondence. and facilities. the best. I am
tf,rx linns nf
coastwise steamships, write drafts and letters Of
credit on all parts OF Europe and represent arst.
L. b. OsMUY''
Choice securities, State. municipal and industrial
bonds for investors.
Some checks sent through the mails for collee-
ton, addressed to L. H. Osmun, have been paid Ia
exchange on New-York but checks sent for co.,
lection by express and in other ways have. In
numerous instances. not been honored by Mr.
Osmun's alleged agent, who was continually being
called upon by men who would come in on Erie
trains and go away without seeing Mr.. Osmun Or
his clerk as they would be bass fishing" or 'out
riding" or out OF town. Mr.. Osmun's clerk has
during the last few weeks done a rushing bust.
ness His mail has been heavy and he has been
kept busy answering letters and telegraph mes
sages He told the hotel proprietor that he though,
seriously of buying some kind OF safe for his
and inquired for Mr. Sherwood. Osmun's agent
Sherwood was not in the village, having ostensl:
bly, gone 70 agcn M Ood ss N
appeared but left town suddenly for New-York,
directing thet his mall or express matter Sa be . sen,
Com nr.a Downing building New-York Since
then he has not been seen in Cochecton
AS far as can be learned no Network bank has
as vet made a complaint against Osmun or mis- bank.
and there has been no ATTEMPT made to prosecute
him 1t is thought now. however that the heavy
mail received by Osmun's alleged agent just before
issving town the last time is an indication Of ex.
rh5 HAS Trusted him OF late Will regret it, Within
the last week checks for collection at Osmuns bank
hf amto ma and oweso W II: Nichols, banker Q,
Hancock. n y sent lot OF nsmuns checks S yas ii
banks following suit
The Sumner Credit Company. IN whose care os-
nuns and Sherwood's mail was ordered sent Is q
sub-tenant OF the quaker city Electric Company. on
the ninth floor OF the Downing Building in Fulton.
St F. w Sharp. agent OF The Downing building
said yesterday: The Sumner Credit Company hired
desk room in the office Of the Quaker city Electric
COMPANY a few weeks | DONE know thing
about them The electric company peop.e are al
right and we'll known. but the Sumner Credit Com
pany Is a concern know nothing about. 49,.
No such person osmun OF Sherwood is known
at the Downing Building, and L. b. Osmuns name
does not appear in the city directory
The Irving National Bank Of this city has num-
her OF country correspondents along me peawa a
obscmrn station. President Charles II. Fancher. OF
the Irving Bank said yesterday when story o, tne
socalled Coch scton banks methods was told 10 aim;
THAT certainly looks Ike bunco scheme az we
shall investigate Il. This Is the nrst We nave Heau
of IT," " \, ~ ,o,. asa,s,
with AN office in the Stewart Building sali yestel,
day: What A bank at Cocheeton' ! never hr,id
of II, A man must be crazy 10 expect u % ~
ing business al a way station on the Erie Raiiroti
< New-York banker said yesterday IN commenting
on the case: ut Is barely possible that Omun oans
was used so,ely for the purpose oi kitns eheehs.
ard that II existed in part to give rs patrons OF ~.
users OF ts checks the advantage OF having the use
OF money for a longer period than they woud p p
allowed II they used checks on New-Nork banks y
would be 'Napoleonic banking, but may De "A''
what Osmun was up TO-"