The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-10-05
XAY anted Great Riches.
So Nlr. Sl1ipi1erd Is Out on Bail Charged
With El2lbezzlenlent Of 100000

CLEVELAND. O.. Oct. 4.-John J.
Shipherd, who has for several years
been prominent ase an Investment
broker and street railway promoter,
was arrested this morning on thu
charge of embezzlenIent. He was taken
before justice Of the peace on &
state warrant and was held in custody
until 8 o'clock this afternoon, when he
was released on $4,000 bail. The war
rant was issued at the instance OF
Frank De Hass Robson, and the
charge grew out Of the business deal
ings of Shipherd and Robson, VINO
have been closely associated for sew
eral years in street railway enterprises
in this city and elsewhere. The war
rant distinctly charges that Shipherd
embezzled $1S3, ,286.15 Of the personal
property of Robson, in addition to 1l2
street railway bonds Of the value OF
$500
At the same time a petition was filed
in common pleas court asking for
receiver for the brokerage firm o.
Charles H. Potter & Co., with which
Shipherd was heavily interested and OF
which he was the manager. In the Pc
tition it was charged that Shipherd
and the firm of Potter & Co. had con-
verted to their own use the proceeds
of securities left in their hands by M.
Robson. These securities included
three sets of Fort Wayne, Ind, street
railway bonds, and the sum for which
Robson asks Judgment is 1891, ,761. In
cluded in these bonds were 112 $1,000
bonds of the value of $4,000. and upon
which one Of the charges of embezzlc-
ment against Shiphefd is based. Mr.
Robson also represents in his petition
that the firm of Charles H. Potter d
Co. is insolvent and that it owes to
about twenty banks in the vicinity Of
this city and to individuals sum ag-
gregating about 100000 which it caa-
not pay. 1t is alleged that the secur-
tiles left with Shipherd by Mr.. Robi-
son were hyoothecated by him at
banks for the purpose 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 serv-
ed the warrant.
Surely, you are not going to take
my body" he said to the officer.
Eyes, must do So" replied the con-
stable
What are you going to do?'' asked
Shipherd.
'I am going to take you before q
justice, and he will then arrange your
ball.
Then Shipherd accompanied the con-
stable to the Justices Office. On the
way Shipherd said: We'll, I suppose
that technically I am guilty; but I
have not dollar in the world. OF
course I speculated and invested with
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
attorney, for whom he sent as soon as
arrested, Shipherd was asked how
much he owed Mr. Robson.
"Oh, N.Y." he replied. THAT do
not know. The amounts in these
transactions are so enormous I lost all
track of them a long time ago. L am
now hopelessly lost. BY bringing TINS
action against me Mr.. Robson has
ruined me. A year ago I would have
taken nv oath that 1 was worth $780,
600 over my investments; today have
not a cent in the world, not even
enough to hire an attorney. knowing
that 1 have not dollar, Mr.. Robl-
son now makes me the scapegoat IN
the hope that others interested will
shell out the money he wants. Nego-
tiations have been going on for year
with Mr.. Robson to settle these mat
ters, but he has purposely held back
until now. For year have had all
could do to earn enough money for
the daily bread of my family by doing
q little scalping on the street. I know