The sun., 1901-11-28
SWINDLERS RUIN MERCHANT.
1,'NCO HIM OUT or NOTES AG-
tREGATING S55,OOO.
Got Tnrm discounted, but Ne Never Saw
AGENT O; tho Proceeds Was in Trouble
and Eagerly Grsspcd at Chance to Get
Money-Brother Dragged Down. Too.

When Nathaniel Lawrence OF the hay
and grain firm OF N. Lawrence a Co. Of
Dobbs Ferry was pressed for money about
wear ago, no less than eight swindlers
81 this city went at him and proceeded to
,oke advantage Of his distress. He listened
% them all and the result is that he and the
arm Of n. Lawrence a Co., which had been
in business for twenty eight years and was
a pobbs Ferry institution. are both wrecked
financially.
The other member Of the firm Is John
lawrence, Nathaniels brother Nathaniel
4, Is wears old and John Is so. Both are
married and have delightful homes at
Dobbs Ferry. They began business to-
.etber as boys and carried II on 80 well
hat up TO the time of the crash the firm
had the highest rating with the commercial
agencies
Their troubles began with Nathaniel
Iavrence's willingness TO help start
vopna man Of Dobbs Ferry in a banking
concern. The young man had the chance
70 become paying teller in a trust COM
panv in a nearby town IL he could furnish
bonds for $4,000
Nathaniel Lawrence agreed personally
,o furnish security. He thought at the
time that he was simply allowing his name
% be used as a matter OF form, The young
teller also persuaded a real estate dealer
IN Westchester county TO 60 on his bond.
That was two years ago.
About one year ago the trust company
saw At 20 discharge the teller. and his &C
counts we're In such shape that the bondsmen
were called on to pay the full amount Of
his bonds. The real estate dealer failed
inst about that time and couldn't settle with
the trust company, 70 Nathaniel Lawrence
became responsible for the full amount Of
the ,eller's bond-s35. 900. He paid part
and gave notes for the rest. Then he began
his struggle to raise money. and the sharpers
heard about IL.
The only comment that John Lawrence,
the younger brother. would make on the
situation last night was: We are ruined,
but don't hold Nat responsible, for he
washypnotized by that new gang he got into
down in New York. didn't know anything
about these things till the lawyer told
me that we were bankrupt. Nat didn't say
anything about it,
The men who have wrecked the biggest
concern in Dobbs Ferry went after the
senior partner in three groups. They
got from him all told about $4,000 worth
of the firms notes. Nathaniel. according
20 his lawyer. C. +. Travis, made these
notes PAYABLE TO himself. indorsed them
In blank and then let the shArpers have
them with the understanding that they
would get than discounted. He didn't
get reoefpfs for the notes. said Mr. Travis,
and he never received q cent for them.
They have been coming back on the hay
and feod hrm for payment for the last sax
months and that's what caused the bank
riptcy proceedings which were begun
ON Monday In behalf Of Austin Nichols
A Co. and +. c. Hazard & CO.. wholesale
srocers. and II. II. Palmer Co. tea mer-
chants.
The claims Of these three firms are for
goods furnished and aggregate about
5000. The petition in bankruptcy was
fled after n. Lawrence Go. had made a
general assignment
before that the firm had paid about SIS 900
on the notes The holders Of the outstand-
ips notes about twenty o,sa 80 m aco a." are now
mir Lawrence. that is, Nathaniel said
LAWYER Travis yesterday, acted like a
drowning man gr@ping ut straws. and
Dobbs Ferry wasn't too far away for lot
Of vlltures TO hear OF his straits and proht
nv them ! would divide these crooks
into three groups, each working indie
pandently of the others, and II wa a race
10 -ee which could steal the most. In
one % the=e grOups we know Of but one man.
and we are not yet sure whether he n "A
fool or a thief. lie claims now that he
Wa a fool and was swindled himself while
trying 20 help Lawrence. but he Wa the
Last 20 gst into the game. There are several
n.n Ia the -econd group. They admit their
guili, practioaly scknowiedss that they
have rObt..d I.aWrenoe, and are i-gging fof
mercy And the tllird group was hrm
- alleged bankers and brokers down Ia
the Lsighborhood of Wall Street
'LASnenoe gave 90 the bankers 800
worth oi his notes when hls uOubls~ first
iegan. 1hey were to sell thoIn Tor him
ard send lin the prOos"ds They s1ld
them zoe ule tnn has siiIo" L--,n calls,i
uu g. settle hut N,sy titsvf gave Nathhnlsl
az n the pfooeeds When be- went to
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