Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1897-10-09
HANDLED MILLIONS.
But In the Day When Calamity
Overlook Him

OVERLOOK Him
Had No Money to Employ Lawyer Arrest
OF John j. Shepherd, IA Prominent In
vestment Broker and Railway Pro-
Inoter, for Embezzlement.
CLEVELAND, o., Oct. 5-John J. Shin
herd who has for several years been
prominent as an Investment broker
and street railway promoter wa ar
rested yesterday morning on the charge
of fembezzlement lie was taken before a
justice OF the peace on state warrant,
and was held in custody few hours
when he was released on $4,000. The
warrant was issued at the instance OF
Frank Haas Robinson, and the eharges
grew out OF the business dealings Of
Shipherd and Robinson, who have been
closely associated for several wears in
street railway enterprises in this city
and else sewhere.
The warrant distinctly charges that
Shipherd embezzled SlS3. 230. Is of the
personal property OF Robinson, in addi-
ton to III street railway bonds of the
value of sos, 200.
AT the same time petition was filed
IN the common pleas court asking for "a
receiver for the brokerage firm of
Charles II. Potter Il Co., with which
Shipherd was heavily interested, and
of which he was the manager.
In the petition it was charged that
Shipherd and the firm of Potter & Co.
had converted to their own use the
proceeds of securities left in their
hands by Mr. Robinson. These securi-
ties included three sets Of Fort Wayne
(lnd.l street railway bonds and the
sum for which Robinson asks iudg-
ment is $99l, 76l.15.
included in these bonds were IL
81, ,O0J bonds of the value Of S95. 200 and
upon which oae of the charges of em-
bezzlement against Shipherd is ba sed.
Mr.. Robinson also represents in his
petition that the firm of Charles Ii.
Potter ~ Co. is insolvent, and that il
owes to about 20 banks in the vicinity
of this city and to individuals IA sum
aggrcgating about $1,000, 600, which il
cannot pay. 1t is alleged that the Sc,
curitics left with Shlpherd by Mr.
Robinson were hypothecated by him
at banks for the purpose of raising
money with which to carry on the vari-
GUS enterprises in which. he was inter.
ested.
When arrested Shlpherd had just
reached the brokerage office of Potter
Il Co. in the Wade building. lie was
dumfounded when the constable served
the warrant.
Surely you are not going to take
my body?' he said TO the officer.
Yes, must do So" replied the con,
stable.
What are you going to do?" asliet
Shipherd
Il am going to take you before ;
justice and he will then arrange YOU
bail"
Then Shipherd accompanied the con
stable TO the Justices Office. On the
way Shipherd said.
well, | suppose that technically
am guilty, but have not dollar IL
the world. Of course | speculattd and
invested with the money. II things
had come my way, | would have been
without doubt The richest man il
Cleveland"
While awaiting the appearance OF
his attorney, for whom he sent us soon
as arrested, Shipherd was asked how
much he owed Mr. Robinson.
"Oh, my" he replied. THAT | dc
not know. The amounts in these trans
actions are SO enormous lost all track
of them long time ago. am now
hopelessly lost. by bringing this ac-
ton against me Mr.. Robiuson has ru.
ned me. A year ago | would have
taken my oath that wa, worth 500,
have not n cent in the world, not even
enough to hire an attorney. Knowing
| that have not a dollar, Mr.. Robinson
now makes me the scapegoat in the
| hope that others Interested will shell
out the money he wants. Negotia-
tons have been going On for year
with Mr.. Robinson to settle these mat
ters, but he has purposcly held back
until now. For year have had all
| could do to earn enough money for
the daily bread of my family. by doin Z
| Il little sea ping on the street. know
not what to do now. The disgrace, OF
course, falls keenly upon my family,
but do not care, for am not guilty.
| | owe lots of money to hundreds OF
others besides Nj; Robinson.
"ln the IA years have been in bust
ness in this city have done business
of Sli, 600 0O1. Yes, sir, did that right
down there in my little shop. have
| been successful aud unsuccessful dur
ing that period, but when fortune
went against me | was always
able to recuperatc and pay my creditors.
| During my business experience until
last year my credit was almost un-
| limited l have combated without sue
cess the panic of the last four years
while heavily interested in pioneer
railroad work. The securities | held
fell and greatly deprecated during the
hard times. -Four OF the railroads |
was connected with failed to bring re-
turns, and here am now
At first Shipherd stubbornly refused
TO permit any body to go on his bond.
He said he was ready and willing to 20
to Jail. Finally, however, he concluded
to accept bail, and his bond was signed
by two of his influential friends.
A MISSING TELLER.