Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-10-05
CLEVELAND STREET RAILWAY PRO-
MOTER UNDER ARREST.
CHARGED WITH ENLIGHTENMENT
OWES HUNDREDS OF MEN MILLIONS
OF DOLLARS.
Frank ID. Robson Asks Judgment
Against Him for S991 ,7Gl .15-Has
Nothing Left for support of
His Family or to Hire
Lawyer.

Cleveland, o.. Oct. 4.-John j. Shipherd,
who has for several years been prominent
as an investment broker and street railway
promoter, was arrested this morning on the
charge of embezzlement. He was taken be-
fore justice of the peace a state war
rant and was held in custody until 3 O'Clock
this afternoon. when he was released on
$4,000 bail. The warrant was issued at the
instance of Frank DeHaas Robson, and
the charge grew out of the business deal
ings of Shipherd and Robson, who have
been closely associated for several years
in street railway enterprises in this city and
elsewhere. The warrant distinctly charges
that Shipherd embezzled $lS5, 5,236l5 of the
personal property of Robson, in addition to
1l2 street railway bonds of the value of
$500. 4. -r
AT the same time. petition was filed in
the common pleas court asking for a receiv-
er for the brokerage firm of Charles II.
Potter e 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 pro-
ceeds of securities left in their hands by
Mr.. Robson. These securities included
three sets of Fort Wayne. Ind, street rail-
way bonds, and the sum for which Robson
asks judgment is 1891, 6115 Included in
these bonds were 112 81 600 bonds of the val
ue of sos. 200, and upon which one of the
charges of embezzlement against Shipherd
Is based. .,-. ..-s ..,..,
Mr. Robson also represents in his petit
-tion that the firm of Charles II. Potter is
insolvent. and that it owes to about twen-
ty banks in the vicinity of this city and to
individuals sum aggregating about 81. 2.o0o,-
900. which it cannot pay. 1t is alleged that
these securities left with Shipherd by Mr..
Robson were left at banks for the pur-
pose of raising money with which to carry
on the various enterprises in which he was
interested.
When arrested. Shipherd had just reached
the brokerage office of Potter & Co.. in the
Wade building He was dumfounded when
the constable served the warrant.
Surely you are not going to take my
body?" he said to the officer
Yes, l must do so,'' replied the consta-
BILE.
What are you going to do?" asked Ship
herd.
Il am going to take you before a justice
and he will then arrange your ball..
Then Shpherd accompanied the consta-
BILE to the Justices office. On the way
Shipherd said:
We'll, l suppose that technically I am
guilty, but 1 have not dollar in the world
the money. If things had come my way, I
would have been without doubt the richest
man in Cleveland"
While awaiting the appearance of his at
torIey, for whom he sent as soon as ar
rested. Shipherd was asked how much he
owed Mr.. Robson.
"Oh. my he replied, that I do not
know. The amounts in these transactions
are SO enormous lost all track of them a
long time ago. am now hopelessly lost.
By bringing this action against me Mr..
Robson has ruined me. A year ago l could
have taken my oath to be worth 500. 900
| over my debts. To-day have not a cent in
the world, not even enough to hire an at
torney. knowing that l have not a dollar
MIR. Robson now makes me the scapegoat,
in the hope that others interested will shell
out the money he wants. Negotiations
have been going on for a year with Mr.
Robson to set settle these matters but he has
year l have had all could do to earn
enough money for the daily bread of my
| family by doing a little scalping on the
street. 1 know not what to do now. The
| disgrace. of course, falls on my family, but
! do not care, for l am not guilty. 1 owe
lots of money to hundreds of others besides
| Mr.. Robson.
In the. fourteen years have been in
business in this city / have done a busi-
| down there in my little shop. l have been
| successful and unsuccessful during that
| period but when fortune went against me
| l was always able to recuperate and pay
| my creditors. During my business expe-
rience, until last year, my credit was al
most unlimited, l have combatted without
| success the panic of the last four years
| while heavily interested in pioneer railroad
| work. The securities held fell and great
| ly deprecated during the hard times Four
| of the railroads was connected with failed
| to bring returns and here / am now
AT first, Shipherd stubbornly refused to
| permit anybody to go on his bond He
said he was ready and willing to go to jail
| Finally, however he concluded to accept
bail and his bond was signed by two Of
| his influential friends.