The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-05
A "NapOIeon of Finance Who Claims
to Have Done a Business of
Fifteen Million Dollars.
ABOUT $278,OOO INVOLVED
WARRANT ISSUED AT INSTANCE OF
BALL MAGNATE robson.
Bonds of Fort Wayne SGreet-RaiIway
Company Among Securities Said to
Have Been Misappropriated.


herd, who has for several years been proml-
nent as az investment broker and street.
railway promoter, was arrested this morn
ing on the charge of embezzlement. He
was taken before justice of the peace on
state warrant and was held in custody
until o'clock this afternoon, when he was
released on $4,000 BAIL
The warrant was issued at the instance of
Frank De Haas Robson, and the charge
grew out of the business dealings of Ship
herd and Robson, who have been closely
associated for several years in street rail-
way enterprises in this city and elsewhere.
The warrant distinctly charges that Ship
herd embezzled $1S3, ,23615 of the personal
property of Robson, in addition to 112
street railway bonds of the value of $780,
zoo
AT the same time a petition was filed in
the Common Pleas Court asking for
ceiver for the brokerage firm of Charles II.
Potter & Co. with which Shipherd was heav
lily interested, and of which he was 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.. Robson. These
securities included three sets of Fort
Wayne, Ind, street railway bonds and the
sum for which Robson asks judgment is
1891, ,761. 10. Included in these bonds were 112
$1,000 bonds of the value Of 300, and upon
which one of the charges of embezzlement
against Shipherd is based. Mr.. Robson also
represents in his petition that the firm of
Charles II. Potter g. Co. is insolvent and
that it owes to about twenty banks in the
vicinity of this city and to individuals
sum aggregating about $2,00O,OG0 which it
left with Shipherd by Mr.. Robson were
hypothecated by him 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, 1 must do So" replied the consta-
BILE.
What are you going to do?" asked Ship
herd.
81 am going to take you before a justice
and he will arrange your bail"
Mr. Shipherd accompanied the constable
10 the Justices office. On the way he said:
''Well, 1 suppose that technically I am
guilty, but have not dolalr in the world
OF course. 1 speculated and invested with
the money. If things had come my way /
would have been without doubt the richest
man in Cleveland"
While awaiting the appearance of his at
torney, for whom he sent as soon as ar
rested, Mr.. Shipherd was asked how much
he owed Mr.. Robson. "Oh, N.Y." he re-
piled, that do not know. The amounts
in these transactions are so enormous I lost
all track of them long time ago. I am
now hopelessy lost. BY bringing this action
against me Mr.. Robson has ruined me- A
year ago I would have taken my oath that
1 was worth 100000 over my investments.
To-day I have not cent in the world not
even enough to hire an attorney. Knowing
that 1 have not dollar, Mr.. 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 settle these
matters, but he has purposeIy held back
until now. For a year / have had all
could do to earn enough money for the daily
bread of my family by doing a little scalp
ing on the street l know not what to do
now. The disgrace of course, falls keenly
upon my family, but do not care, for am
not guilty. l owe lots of money to hun
dreds of others besides Mr.. Robson.
I'm the fourteen years ! have been in bus
mess in this city ] have done q business of
$15, 100000. Yes, sir, 1 did that right down
there in my little shop. l have been sue
cessful and unsuccessful during that period
but when fortune went against me I was
always able to recuperate and pay my cred
itors. During my business experience until
last year, my credit was almost unlimited
have combated without success the panic
of the last four years, while heavily inter-
ested in pioneer railroad work The securi-
ties / held fell and greatly deprecated dur
ing the hard times Four of the railroads |
was conencted 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 Fin
ally, however, he concluded to accept bail
and his bond was signed by two of his in
fiuentiaI friends.