The times. [volume] (Richmond, Va.) 1890-1903, 1894-04-22

surplus. He began TO complete his
scheme for the transcontinental system.
The Baltimore and Chic was to be the
Eastern end Of thisl and he negotiated
successfully with Robert Garrett for its
purchase. With $2,0oq0OO stolen from the
Cincinnati. Hamiiton and Dayton he
bought an option in Z and began to ex-
ercise the rights of sn owner The Raj
tImore and Ohio Included the Baltimore
ana Ohio telegraph. He got all ready
10 CELL the telegraph system to the Vest
ern Union for 10000.
But his affairs were rapidly becoming
involved. The more he stole the more
he had to steal. Capitalists began to
lose confidence Trust companies wanted
their money. Ives grew pale and hag-
gard but he kept OF with bold 'front.',
for he had nothing TO lose except his
liberty. When many were beginning to
think the end had come, he suddenly
appeared as master Il the Nandalia road,
with It's rich treasur; to delve into. And
so deeply did he runge his rapacious
hands into II that n about month he
stole nearly 100000 and brought the
road TO the verge q ruin.
In July 1887, misfo-tunes began to gath
er about him. Robert Garrett sailed for
Europe, taking the 100000 with him. and
saying that the tine OF the option had
expired and that Ives had not fulfilled
the contract. The Mineral Range stock
holders began to citfnor. the C., H., and
ID. stockholders begin TO rub their sleepy
ewes and shout "Thiefw The Vandalia
people were alert. he New York people
of whom he was borrowing were demand
ing their money.
The wonder is that he held on as long
as he did. He never faltered. but brazen-
ed II out He announced with calm con-
fidence that the clanor was all newspaper
talk. He lived more extravagantly than
ever. Then the oumbia Bank Of Phil
adelphia failed, and Charles Phillips
fled. This was the final blow.
On the morning OF August 18th Ives an
nounced that his finn was never stronger
and that all rumors TO the contrary were
lies. Late in the afternoon of the same
day he sent for the reporters. When they
had assembled in his Office he came out
calm. cheerful. sinking a cigarette.
what is the news you have for us.
Mr. Ives?" said one
"Oh," said Ives. blowing out a great
cloud Of smoke, we've assigned. Liza
bilities s9o.GOO,OOo, assets s2l0O0,O0O."
When they cleared up the wreck they
found that he had overstated the liabili-
ties by about 10000 and the assets BY
about sl0,0O0000. He had stolen and used
in one way and another nearly 100000
Some Of this he had seuandered for his
personal uses. some he had spent as in
terest, some had gone in stealing rail-
roads. He had utterly wrecked the Min
eral Range He rad nearly ruined the
rich Cincinnati, Hamilton and Dayton,
which could i'll bear the loss OF s3.000,000
He had reduced the Vandaiia to the verge
Of bankruptcy.
When his failure was announced in
the Stock Exchange. the brokers cheered
wildly. IL was the first time that the
misfortunes Of another broker had ever
been greeted with JOY.
Nearly year passed before evidence
could be disentargled and warrant
was issued against him. On July "a, 1855.
he gave himself Up in Cincinnati with
Stayner. and soon afterward the case was
dismissed. Some time afterward the pair
We're advertised IN civil suit. brought
against them by the Cincinnati, Hamilton
and Dayton. and were committed to Lud-
low street Jail In default Of $4,000 bail.
They remained there, living In luxury
and getting fat. until January 26 1859.
when they were transferred TO the Tombs.
charges OF forgery, embezzlement
and larceny having been brought against
them.
Ives trial began September II. 1889. and
lasted until September 18th. Woodruff, one
of his tools. turned informer. and swore
that Ives tried to forge Christopher Mey-
er's name after the old man died But
the jury disagreed. two holding out stub
bornly for acquittal. In March, $780, both
men secured their freedom again.
At first Ives lived quietly with his SIS
ter In Brooklyn. In a fine house he had
given her. Then he began to stir about
Wall street again. He moved into the
Mystic" 1923 west Thirty-ninth street.
and took offices at % Wall street There
were prophecies that he would never be
able 10 accomplish another financial deal.
He dsproved them. Within two years
he carried out a profitable operation by
turning an old Brooklyn dry goods firm
into a stock company. Later he was
said to be concerned in the consolidation
IF Brooklyn trolley railroads.