The Owosso times. (Owosso, Mich.) 1897-1926, 1912-01-05
Queer Transactions

Financial and business circles or
Griswold street have been discuss,
ing the peculiar circumstances sur.
rounding some of the dealings OF
the commission firm, Botsford e
Barrett, 304 Chamber of Commerce
building. Rumors of alleged irregu.
!arities have been rife for two
weeks and these have attracted at
tention through the coming to De-
troit of upstate merchants who
claimed TO have consigned grain or
beans to the firm and the discovery
OF bills of lading which are said to
be spurious.
One bank Is known to have looked
up the matter and to have effected
Ia settlement. Two more banks
which have held bills of lading have
the promise of the firm to make
everything right. The matter came
to the attention of a commercial
agency which reported that the
claim that forged bills of lading
were in circulation was taken up
with the firm and that information
on the subject was declined.
Paid on Original Bills
1t was common talk on the board
of trade that people coming in from
the country and inquiring about
carload lots of grain or beans they
had consigned to the firm found out
that the goods had been sent away
and paid for on the original bills of
lading.
On December 81 judgment for
s290.42 vas rendered against C. II.
Barrett in favor of the d., G.. H. e
M. railroad by Justice Command. On
Wednesday of this week the account
Of the firm of Botsford e Barrett in
a local savings bank was garni-
sheed, the action being brought on
claim for freight.
One of the local banks is said to
involved to mo eTttG, l9
10000, but the firm his ass
hich the bank expects to be su
lent to meet this.
The custom is for the shipper
ttach draft to the bill of ladir
hen he executes the order rlarc
ith him. For iretanre. ie n eri0v.
at Vassar accepted an order for a
of beans he would send the
bill of lading and draft through the
bank. The bank at this end would
end these papers to the Office of
he commission firm by one of its
electors or runners.
SCOPES" Sent to Banks
Frequently the boys leave the bill |
md draft for an hour while they
all on others and on their return |
hey are told of the disposition to |
{, made of them. Common talk is |
= the effect that the original bills
'oding In manv instances wa~"
'etained by somebody in the Office
If Botsford & Barrett and that the
10Y would be given the draft and
copy" Of the original bill to take
Jack to the bank, with the explain
tion that 1t should be held up for
few days. The original bill would
70 to the customer who would pay
he firm, while the bank held the
opy, supposing 1t to be good.
A shipper of oats from Yale,
iich., had his bill returned to him
hrough the banks and when he
the bill of lading to the
abroad he was informed that it was
OF genuine.
There is an instance much like
his in which one of the local banks
) concerned and at a consultation
riday il was agreed to straighten
up, so time was given to the firm.
business Almost Suspended
Botsford & Barrett began doing
usiness as firm about three years
go, succeeding H. e. Botsford &
o. Mr.. Botsford had been in bust
ess for some time. Clare H. Bar
TT is from Stockbridge and went
! Jackson, where he was identi-
ed with S. M. Isbell & Co. Then
3 went to Owosso, where he was
the produce business as C. III. Bar
TT & Co., after which he came to
Business at the Office of Botsford
Barrett, which adjoins the Board
Trade room, was practically sus-
snded Friday. The ticker was
d. in operation and the blackboard
,ntained no new figures.
what about the rumors of forged
lis of lading sent out from your
fce?" was asked of Barrett Friday
ternoon.
There is nothing to it," he replied.
There is report to the effect that
hen shipper at Yale received the
II he thought he had sent to you
Id took it to the railroad, he was
formed that it was not genuine"
as suggested.
81 do not know thing about it," !
piled Barrett. "One trouble has
en that we were a young and new !
m and were struggling against odds
ID that our competitors have taken
vantage of such technicalities as
ssible to injure u.s."
The firm is known to have done
big business here, and the banks,
ilroad companies and some of the
ippers now are trying to find out y
lerther the method pursued is all y
yht.
Barrett says they will come
rough 1t, but there is a great diff
renee between the activity that