Year: 1873

the diseredit of bankruptcy TO his
; favorite firm and friends, and to avoid
the explanation which the public


would expect for his own operations


with and through them, both personal


ly and officially Therefore he is very


urgent in advising those less fortunate
! than himself to accept the proposition


of Jay Cooke 4 Co., by which the last
vestige of protection for the creditors
would be renoGneed and the assets,


such as they are, appropriated for


themselves.


Last week depositor called at the


late banking house Of Cooke. in this


city, to make inquiry as to the rros-


poets of saving something from the


wreck. While questioning the clerk


General Babcock came up and vOlun-


teered to say that If the creditors


united in the proposed release they
would be secured against loss. He adj
voeated this policy with the zeal Of
counsel, and was evidently rejecting
the wishes of the White House.


Although detailed statement" Of
the affairs of Jay Cooke K Co., was
promised a month ago, to supplement
the One-sided general exhibit which
they caused to be telegraphed over the
country, it has not been furnished TO
single creditor for examination. What
purpOrts to be detailed statement
is entered on a huge book of accounts
covering many pages, and Is retained
in the clearinghouse here. They
have not only refused TO print it, but
refused creditors the poor privilege Of
making copies at their own expense,
so as to preve ent any fairanalysis of the
condition of the concern. This tells
the whole story. If any doubt was ever
entertained of the rOttenness which is
hidden in the books.


The attempt to deceive the public
and the creditors by a false pretense
that the wives of these parties would
/ surrender something valuable in re-
nOuncing dover rights to certain real
estate has provoked much Indignation,
now that this article Is we'll under
/ stood. There is no real estate but the
banking houses, which are believed to
be covered with liens, and wild lands
in several of the Western States, with
out any ascertained value.


1t is not proposed at all that the
wives shall give up the immense prop
erty which was made over to them be-
fore the collapse and with the full
/ knowledge that it was then impending
and inevitable. They take good care
to keep all that is worth anything, and
then generously v offer to pay defrauded
creditors in refuse lands and Northern
Pacific issues of paper.


\ noted stable-keeper of this city
went recently to Philadelphia to pur-
chase dashing carriage for livery. He
was referred to the palatial residence
of member of Jay Cooke 4 Co. The
gilded carriage pleased his taste and
he asked for the owner to make his
bargain. 4 gOrgeOusly got up servant
informed him that the mansion and
all in it belonged to the lady" and
that she was the person to negotiate
with. That will be the answer when
ever any available asset is discover
ed.


When Henry d. Cooke secretly con-
veyed away his property in 1861 to his
brother Jay in trust for his wife, and
kept the conveyance hidden until he
DCCdult u WIS VI
worse than a deception. During all
that time he professed to be the owner
of the property, and traded upon its
credit as a banker, had it assessed in
his name, and paid the taxes upon it.
The object of that cOncealment is now
disclosed. And it is fair to inf~f from
this fact, and from others which have
come to light, that his partners follow
ed the example by making their wives
rich at the expense of their eredi-
tors.


Senator Sherman came from Ohio
the other day, looking very blue over
the result in that State, and little COM
fOrted by the condition Of his Christian
bankers here To Jay Cooke & Co,
he owes much of his suddenly acquir-
ed fortune, while they were indebted
to HIM for much valuable legislation,
and for his influence as Chairman of
the Finance Committee, at the Treas
ury. Whether they made him u
special depositOr, or protected him
otherwise, is not yet known, but this
and other secrets can not be kept lock-
ed up always. \ key will soon be
found to open the vaults, where mass
of corruption and fraud is now hidden
in dark corners.


1t would be surprising, if the rela-
tiOns of all the parties were not known,
how much interest Is manifested by
leading Republicans in and out of
Congress that the Cookies should not
be forced to turn over what they still
possess under the bankrupt law and
let the creditors be protected by it.
The politicians who drew stipends at
the First National, and others who
took their pay in bonds when ready
money was not convenient; are ex-
tremely anxious TO avoid the Courts.
They claim to admire justice in the
abstract, but do not relish its appliea-
ton, when the practical effect might be
to tell the world at what price they
were habitually purchased.


One case Of great hardship is related
as having occurred on the day Of the
crash at the First National Bank.
An officer Of the army on the staff Ofa
distinguished General had deposited
about 1000 toward noon. Descend
ing the stircase he was followed by
person who turned out to be the janitOr,
who, on reaching the entrance upon
the street began to close the doors.
The officer asked why he did this, and
the janitor replied that he was only
obeying orders. Alarmed by this sign
he returned up stairs, demanded his
money, and was answered 1T is too
late. The lips OF that officer are
sealed, but they may be opened by a
Congressional investigation. To name
him now would be to invite the ven
geanee Of his superiors.


But when these thousands were de-
posted Henry ID. Cooke and the bank
officers knew that Jay Cooke & Co,
had stopped payment, and that the
First National was broken, because all
the public and private deposits had
been carried off to prop up their crum-
bling columns. And now the religious
papers which recommended the North
ern Pacific to their subscribers and
led thousands to ruin, and elergymen
who preach uprlghtness, are pleading
for the aid Of Congress to rescue these
ruined spectators and TO give them
millions more Of the peoples money.


QUEEN VICTORIA has a needle, made
at the celebrated factory at Redditch,
and representing the column Of 1'rajan
in miniature. except that in place Of
the heroic actions OF Trajan. scenes in