Chicago Daily Tribune Newspaper, May 29, 1875, Page 1

VOLUME 28, 708 ATCTION. s purchasad Inrgaly from recent o HAT® Rligtions, at larae concamiions LmPOpLeTR Vniacs, and will Gfer w-day tbio WP ROIAL BARGAINS. 100 pis. Viclorfa Lawn, - 256, regular price 500 o6 pis. Unhld Dress Linen, 20¢, 3¢ i, While Tarletan, - 186, 250 lggEcs.Barus’yTahlenamask.SI, b 3175 st Linen Dogles, - 605, v B 100 dus. Baras'y Dam, Hapkins, $2.50, $4.00 50 dog, lnck Towels, - $190, ~ * gl.fiu 100 dog. Damask Towels, $2.65, = 3.50 £0 pés. Strlped Sommer Silks, 85c, $1.00 90 ¢s. 1, Cashmere (fne), $1.00, $1.50 £0 pes. Satin Strined Grenadne, 30c, 50 Bargains in Lismn Laco Shawls, Foints, wd Acko!u. Baignine n Ladios', Misses', and Chil- ’s Linon Suitn. 000 Baranoln, (n torgo and Tolled Silk, nimmense varicty of handlos, now in ntoclk, lowhich we oall attention, ANNHEIHER BROS. 298 & 300 West Madison-st,, Opposite Oarponts BRACKERUSH, DICKSON & (0., MINERS AND SHIPPERS OF Coaland Goke WILLOW GROVE. YOUGIHIOGIENY (Gas Coal). TOCKING VALLEY. BLOSSBURGIL LACKAWANNA (all sizes). WHOLESALE AND RETAIL, Spectal Inducements mads tolarge Consumers and Dealers. MAIN OFFICE: ¥ No. 1 W. Randolph-st. RAILROAD YARD: 8, W, cor, Oarroll and Morgan-sts. LT DR R o R b f e T FINANCIAL. The First Nationel Gold Bank OF SAN FRANCISCO, CALIFORNIA, 2,000,000 GOLD. 0, 1. HOOPEIR, 1GEL ORT, T, U WOOLWORTH. INDENTS. LONDON......BAIING BROTHERS & CO, CHARTERGD MEROANTILE RANK OF INDIA, LONDON, AND UHINA. DUNCAN, SHERMAN & CO. BLACKSTONE NATIONAL BANK. IRST NATIONAL BANK. ttended to and prompt roturns made at tho. fomeat marlkot rates of izchanzo. MONEY TO TOAN I Ohloago City Proporty_fmprovod pro- Sumin, Dpor Conits errod. TLEHAD & JOT, 165 LinSallo-st. TCES TO RENT IN THE TRIBUNE._BUILDING. INQUIRH OF WILLIAM C. DOW, ROOM 10. LIFE INSURANGCE, PROTECTION | LITE INSURANGE CO, Continues to maot with unparalioled ruccens nand popularity with the publio, notwith- standing tho fltrlnxnno{ of {ho timos. Thin iy becauso Jt offers the mout roliable indemnity nt nctunl cast, payablo monthly, or othorwins at convenience, and costing loin than balf the usual rates charged in ndvanae, Tuveatization of tho nlans and working of the Cumpuny is invited. MEMBERS Are horeby again remindod that the last day for paying tho blay cisctamont is FRIDAY, JUNB 4, 1875. L. P, HILLIARD, Presidant. JOHN RLID, Treasuzer, DR, J. I, HOLLISTER, Medlcal Director, HOME OFFICE, Tidelity Savings Bank Building, 145 & 147 Bandolph-st,, Chicago, FULERED INSURANCE €0, OF PHILADELPHIA. ORGANIZED A. D. 1826. Assets, $1,672,000. (E0. C. CLARKE, Agent 3 and 4 Bryan Block, The abovo-named old nnd well-known Compeny ia prepared to fnsue policies on all classes of dosirable risks in Chicago or vi- cinity. B REAL ESTATE PUSRNSNOIS ooty FOR SALE. 16 Suferns Tract Being 160 acros, bounded -east by Robey-st., south by Chicago-&v., north by Division-st., and west by ‘Weostorn-av, It is subdivided into ton-nore blocks, and will bo sold entire orin blocks or half blocks, at low pricos, end on liboral torms for payment. This tract prosents opportunity for quick returns and very largo profits to partios dosiring to invest 1or the purpose of subdivision, Apply to OGDEN, SHELDON & CO., Room 3 Ogden Building. SHIRTS, SHIRTS! To ordor, of tho best fabrics in uso. , Full lines in_stock of our own innnufncturo, We are propared to muko Shirts to ordor in oight hourc, whon nocossnry. LS00 RIS, MEN'S FURNISHERS, 67 & 69 Washington-st., Chicago. Tike's Orern House, Cincinnati. WARBHOUSE. 70 REA, The 3-story snd bosomont brick Warchouso on the N. W. cornor of Cass and Michigan-sts., rocontly oc- cupicd by H. W. Rogors, Jr., & Bro., TO RENT for one or & torm of yoars, at o low rental to o dosirablo tonant. W, H, MATTOCKS, Room 1, No, 40 Dearborn-st, ‘DOCK FOR RENT. 150 faot river frout, noar Twonty-second-st. Uridge, Railrosd Tracks on the property, Apply to JAMES GAMBLE, stoom 5, Na. 41 Dearborn-st, YTICK oF THE 'a¥b Coltroro GUNTY, LiAaNgIY, 1 0 ‘v‘fiylnmaleh fund a nccor x ofundin o Tl The Whoa Uaid, Beo. Vo asi o Rt Q o ratlo any the Aol tan apessed for tha.year 157} I oxon hereot. ujon proventing nls or fin tax-racolpt wrlug ‘tho' ssme o the Gounty ‘Troasuger o hefo aiich tas was puid, the Couty reasm Snty "siall ‘ol 't suoh paimdD oF GrDo Saount "y hiva oF 1t patd (n eicoss of 29-38 tax of’ 1V cootalned fn sucl rocy smount pald ‘ou auch ro Jax-payor [y Ldos for & publlc notios 13,00 nows e 12 SR csuity Tos oo monthy a0 In aceu ' harne.utice 18 hereby wivon (hat parsons enti Ceindr {D& (8 04T have Lho satao Ly sppisin o Wanted [mediately, Lfl?lpul\hm from owgore of lts to sreck a two stary irlek bl dtln(. 25370, sulteble lor 0y by a Firo lus co I r W i oty iy _nleady cie . Baid bulidiog ty Taderwritors foe 1o iwgel leon and Palk, and Union Froposale wiil only ba' rasclsed in nlortainod, oo uieation will he Addrory Yiro No. 111 Aty T, Cemumiit xiite, Creamery Butter. R oo (Ul SRS PAPER HANGINGS, For the remainder of this month I will RE- TAIL my entire stock of Machine-made Goods at ‘Wholesale Prices. JOHN J. M'GRATH, 174 STATE-ST.,, 178 Opposite Palmor Flouns, THE COMMERGIAL ADVERTISER COMMERCIAL, ADVERTISER. 18 PAGES TO-DAY. BALTINORE AND O11{UAGO--SOMETIIING NEW— THE FINEST REVIEW RVER WRITIEN, TILE ROTTOM ¥ACTS ON INSURANOE. QROKERS_OEATI TO FRAUDS LAWN MOWERS LAWN MOWER, WAUBANTED 1N EVKRY UESPXOT, Call and See it Forsulo by VA & G, 141 St e OFFIOE FURNITURE, ROPOTe DESKS. 1 ¥FIOE FURNITURE, Desks, Tablos, e 2t ae Booraterios abd Hook Chscts sostuively LAt 3 AVCTION TILLS DAY, Baturday, 10 e'clock, 8. DINUEY o lu.undugu‘ 4 [ Underweqr & Hogtery Feld, Leiter & Co. STATE & WASHINGTONSTS., Deg to announce their lines in tha above goods ars most complote, from low cost to boeat imported fabrics, embracing, tn Under- wear, 811k, Balbriggan, Lisle, 8ilz and Wool, and Scotch Lnmb's Waol. A S8PECIAL BARGAIN {n Summer Mer- ino 8hirta and Drawers, oll aizos, $L. IN EALF BHOSE “We hove over sixty distinet linea to noloct from, Alargeandatiractive assortment ef TFANCY HALTF HOSE, In now colorings. Just recoivod, o frosh stock of Gentlemen's SILK UMBRELLAS, To which thoy direct specinl attention, qnd a few alightly demaged o IS USUAL ITALE 47 COMPLETE LINES OF UNDERWEAR In the following poods, now in stock, vis: 511k, Baibrigpan in Brown and Faucy, Linle Throad in White and Brown, Cartwright & Warnor's Merinos, Gauze and Gosssmer, Angzola Flannel, Linen, Jean, &c. Handling tho largest stock of thege goods of any Ratail Houso in tho country, enablos us to soll at lowent pricea, and to give each customor the goods ho wants. WILSON BROTHERS, SHIRT MANUFACTURERS AND MEN'S8 FURNISHERS, 67 & 69 WASHINGTON-ST,, CHICAGD. Plke's Opora House, Uincinoatd, J. 1. MORA & (0., TMPORTERS AND JOBBERS, 88 Madison-st., VAOTORY, AN BUILDING, G2 Water-st., CHICAGO, NEW YORK. GOODS MANUFACTURI Jity of Leat, gromn fu CU| TION ¥ excluiycly fram, best s ot sur UWN I31POK- Tha Trade rorpectfully invited to examing OUR STOCK. Piica Lists forwarded on application. CONSUMERS Vil find 1 our RETALL DEPARTMENT alnrge arsort- mentof |INE CIGARS, always PREAIL nod second (o nowe, superiar I niany ro3pots 10 imporied, BPECIALTY. fod. TR, CIARLTTR PAPERS, 3 on land, 40: Gands warranted Al i of OIGA and TURKTAN LEA - 6,000 WHITE VESTS FOR YOU TQ BELECT FROM AT TIE Tston Sqnare-Dealing CLOTHING HOUSE, $. E. UDRNER OF Clark & Madison-sts,, Chicago, HOT! Coart SHERMTAN HOUSE, GHICAGO, NEW PROPRIETORS, t, firatclasn Hotol, located dirootly ol Cliougo,” oflurs to the trunting souih and eist. T entiroly fonoratad and rontied. "It olicut acoutamodativne and recoive in tha il S ropriators, WOOD'S HOTEL, Noa. 34 und 36 East Wanhlogion-st., Oppasits Piold, Leitar & Co.'s Refall Dry Guods ttors, PG A tiamiog Be e Eiskis Whilosale Slineey Store: GEO, B, PALMES 0. BANDS, (Lata of Clty Hotal) Clerk. Prurietor. $2 PER DAY. _ i’arlnr & Chamd tor ot “Tollets, Commodes, F s, Wandr od foungus, Tabiler, ute., pataty, vow aud socond'land, st Auct , ove rday, 10 a 12 & GO Tiandolphoat, i Ui, JOHN G. ASHLEMAN, JEWEBLER, l 130 ATAT'=-BT,, BECOND FLOOR. PRICES. | Autobiographioal Sketches of the Lamented Iowa Banker, The Story of His Woaes as Told in His Own Private Journal, What Constitutes a Great Financier ? --Impudenee a_ml Baring. Tho History of the Famous M. & M. Railroad Receivership Fully Recited, flow It Brought Embarrassment and Finally Ruin upen Alten, The Coolz County Bank Bought. Up “For Present Uso ' . Nothing Paid for T. signs upon ihe siate’s - Bavings and the Kow Yoril Loanr Hip siitutions. The Manifold Imperfections ‘and Treacheries of Bowen and Dobbins, Faclle Manner of Dealing with Se- curitics---The Consiantino Bank. Repeated Violations of the National Banking ‘Law-~.‘* Bankrupt for Seven Years.” F.'W. Palmer and the ¢“Inter- Ocean ” Share Allen's Bounty. Bnectal Correapondence of The Chicaao Tribuns. Dres Momses, In., May 27.—At your desire, with epade and shovol havo Ispout a week or two uncarthing tho tap-root of that financial migsionary from Iows, whose laet will and testament of *“‘mothing in the pouund" to lis creditors, swoetly epitaphs him as oue who fall nmoug cannivals in Chicago and was daly dovoured, Mr. B, . Allen was both a mis- slonary and a gourd. Ile sprang up in tho night of ciil war, thanks to o profuso waterng rnd manursge at the hauds of an nncle, who honored and jmproved, 6o they azsure me, the Yocation of an army Quartermastor. Provious to this discovery of a relativo who was atlowed proferences in cashing tiovornment vouchers, . ¥, Aflon, so my fudopendent his- tory of iim gives warrant, did n smart businces in lending money in the City of Dos Moiner. Ifera ho popped up, 08 ho went down, liko o sud- den volcanio fsland, Lorn amid tho thraes of terrestnal convuleion. The Mexican War, among othor heroes, spawned tho “Jowa banker," then in o sort of tadpolo phoro, and with him there woro also sbout five thousaud pillnr doltars, #o my nutbiority awears, which once used to hide their sbiuing faces in tbo Hulls of the Montezamas. In thoso days his eonntry, but not Allon himeell, was making history. Incon- sequenco, largely indebted as T may bo to the typical financior of thla Gildad Age for eomo yoars of porsonal rominiscenco Yor bis earlier nolabitla, I muat rely upou othor and lesa inpar- tisl fuformants, And hero, be it kmown by theso presents, that of all didicult matters, tho most difiicult is ta disintor tho whole trutis about all such quick and porishablo goowths aa B, F, Allon. In New Yorls, whither I firal betcok myself, I diligontly nosed about the *atroet™ sud sought s far a tho chimos of old Trinity, to make doad suro of my guet. I found, however, that no only do burnt cbildren, theieabouts nt least, droad tho firo, but thoy also carcfully abstalu from discussing the clomont which did thom lwrt. For instance, there aros dozen good men and truo in New York City who suffored griev- ously by B, I. Allen's catastropho. Yet, when I mentfoned his baloful name, they neither cursod nor complained, but oaly wincod aud tossod tho ball of couversation towards any other point of the compass than due Northwost. Noverthelens, his momory is green in Broad and Wall strocts, Among thie bank oflicers whom ho has gratofuily iucluded in cross-bills and complaints, I fancy some flucly roundod swoaring s dono in strict private, and his late partners, who are 8 dumb ax sarcophagl sbout their knowledge of him, muet twice a day go through a briek commina- | tion at his oxpeuso,—or they aro ot of the Lu- man raco. i Had it not boen for Allen himselt, the fruit of my resoarches would have becn contlnod to an clabaration of the vagus and uuwhelesomo chargon preferred agatust him by his vers noighe bors. But those whom tho gods desire to slay tho first mako mad ; and Allen's ante-mortem in- eanity took tho shapse of journalizing, Among the curiosities washed ashore in this the city of his adoption from his shipwreckin ors of diary in which ho logs sll his operations and obsecvations. It {a a volume of such monstrous value, sociologicslly, that 1t woundor [t was ever allowed to becomo jlotxam and jetsam, Not only is it porfumed with tho concentrated axtract of B, F, Allon, but it liko- wire is romarkiablo for consisting of his sharp and uncouth chirography, 1% struck upon the biind leads," to use the plirasoology of the day, until, by » lucky chsnce, this Jowan Dig Douanza foll into my kuopiug. How 1 obtained is 18 my own affair, It ivlates chiotly to the periody in which Allen's traneac- tions were of momeut to Chicago poopla; audl am indobted {o it for all the curious informatlon with whiok, I truss asd beliovo, this my taithful retloot 0f discoverica abounds. ‘the jourual furuishies little information of ARew's origin or earlioy performances. Lut it la aufiicient to ropeat tho tradition which I have noted alroady, and which runs to the efoct that, after the Moxican War, B. ¥, Allon, with souie thousands of pillar dollsre,made Lis sppeatsacein AY 29, 1875.—TWEIL PAG Tes Moines. 1lers he grow tich by dealings in mbnes, snd, whor, tho Hebellion burst out of & cloudy nky, Allen was both a shioing patriot and well on Lis way to millionaireship. Tho very tronblos of his country brought mors grint to tho lowa mill—per favor, very largely of sn avaucular Quartermaster, who bad it in his nower to cash such vouckors as ha plcased, and whoze judiclons selection of Mr. Allen's clalms :ped it thrifty person on bis road to prospoer- ty. ———e HISTORY OF THE RECEIVERSHIP, A TRIST PCND BECEIVED AND HELD About tus cloze of tho Yiar, Allen, being by vir- tue of hia rapid and veory evident anccess a sort of financial anthority in the Northwest, wan ap- polnted Iteceivor of the Mirsinsippi & Mwsourl Rallroad, a luckless abortion which in due timo had been swallowed up by the Jiock Island Rail- road, of which lstter concern John F. Tracy, & shrewd and abls parson, was President and su- premao controller. To Alion, in hia capacity of Recetver, over hall & million dollas in Rock Tsland Dsilroad bonde wo3 eommitted {n‘trust by tte Coorta. Trom tho Inception of that fatal responaibit- ity, Allen himsell dates his fall. As to what ho actuafty did with the fund consigned to bLis sclo custody aud managoment he, in bin rocords, says nothing. It {8 but fair, in the face of his die- creet milenco touching this particnlnr, to fnfer that bo lacongiderately trenpassed upon Jt in at- tempts at epeculation, and that the tutal deposit tneltod in his hot patm liko n snow-ball, A banker, oven of the most desperato class, I8 apt to regard a trust-fund as s sucred char a something upon which not eveu the direst pef sonal neconsity can sauctlon or evom extenuato approach. It in as mueh as his good luck in worth ao flagrantly to affront his honor, aud very few, nave thuse of the black flag, everlay violent hands upon tho treasure thus tradition- aliyand by principlo consscrated. Your reputs- i aod diecreet banker always putn his trost- money in an casily convertiblo shaps, The wecarities in which lie iuvests it are thoso which can bo transmuted into cash at the very short- et notjeo, Indued, the morey of a trist fand akonid be so near hin band aud to perfectly auder his control hat ity production could eclio the demand for it. Allen certsinly did not regard the half million ofthe Missieeippl & Missouri Ruilroad in any nuch delicato fashion. Ho putthe deposit where Le thought It would “do the mest gosd” to limseif perronally, and when tho day of suttle- ment cawe that mortal isability to rodeem his fasth struck him all at once, which, by rapid pro- cezs of decliue, attained to its conclusion io the failare of the Cook County Bauis. But let his own Jouraal toll ths etory of the constantly increasing predicament in which bis spoculations tangled him. On tho 20th of September, 1871, biy diary thas alludos to what bie curiously cutitlea *‘the Iic- eoiver buniness™: * My ncans are so rcatlered and collections so slow Loro that it will take some time for mo to get my mesns in propor stape. I am guling veady o settlewith the parlies inlereated in the railroad fund which I nave been holding as Ke- ceiver jor some time, as tho fund is quite large it will take all my arailable funds, coming, 86 1t will, in my busiest yoason, (I fhink it will have to bo paid oatly in Decomber). . . . Whenl hate this Recetver fund scttled up, T shall have nothing o trouble me." The securltios in thae (rust fund which bo was 20 1oluctant to surrendor consisted of 541,000 worth af bonds of the Chicago, Rock Island & Pacific Batiroad. By 4 STRANGE COINCIDENCE George Opdyke & Co. held 311,000 worth of boudy in the Chicago, Rock lsland & Pacitic Tiailrond, as collateral for & loan mede to B. F. Allen, acd this st the very time B, F. Allen was casting about for & way of squaring bis account as » Leceiver. On the 20th of April. 1872, in his jonroal, Mr. Allen speaks contidently of the prospecets of & postponement, and cougratulates himself on the fact that the Courts bave not ordoted kit to net~ tle his stewardship, But on the 8th of May, 1872, ne thus breatlres his doubt aud disappoiat- ment. 1 had bogun to feel pretty sanguine 1t would go ovor snether term, but i could noi be delayed any longer. My altorney has ceveral schemes Jor delay, but it is not eafe to depend on, and ihe only prudent course is to get ready o scitle.” Yet, Inspito of the glowing prospecs whjch seemed on tho 8th to confrout Lim, ho bright. ened up & hittle, and, on the 23th of tho same month, Lo again ** hopes for dcln{," and plosa- autly comforta Lkimeel? with the inforenca that 4tk caali only will ba distributed,"—thus leav- ing such dolieate probloma as shat of the &il owb«;uu of bonds in Opdyke's bands undis- m{):thu 29th of May his confidence in the oor- taiuty of puetponoment in 8o great that ME RUAPSOLIZLS s followa ; “ Aly nttomoy #ays that_tho bonds will be tied wup for soveral yoars, and that ho hias sfrong hopes o gotting the cash part also tied up scain for 8 months or longer, Al any rate, the worsl that can happen niow is'{o be aalled upon fo pay ftzo hundred and ticenty-flee thousand dollars.” At this time, Allen was nu{:pmed to be & Midas,—tuming _overythin, o tounched into legal tender at tho very loast, With which porwer, bis inability to sottlo up hia Receivership, apart from wun disiuclination, seots rathor {u- compatiblo. But ho s not too careful lo tell how and WHY THZ YIELDING OF 118 TRUNT 18 80 DANGER. ocs, and even £0 rifo with imuussibility, Ou tho 3d_of :December, 1872, ke thus plain- tively rocords his wofal plight, and thus at the timo when crodulons dopusitors wero prosirate ot bis feet, and persistont in committing their lioarde to lis Lkooping or investmont. Hays Lo, ruotully enough : ] am loaded down with unavailable sthyf—uot evon cordwood.” Outhe 28th of December, 1672, he notes that e has ditectod 200 of the Hock Island Railroad bouds in question to be placod in tha hands of S, V, White, of Now York, to obtun a losn ou tbom, It would bo a waste of my tine to trace tho reet of tho missing vocuritics. On the 24th af May, 1§73, he draws a long breath and thus recitos in hin journal TIOW MIB BURIESHE AND ANXIETY ANB ENDED! 1 am to pay over #541,000 m Rock tsland Rwi- road first-mortzage Londs abouttho 1524 of July, 1873, aud tho accrued interost, $260,000, in ono year, with 7 per cout intorest, 1 could have got this put off by fighting, but it wouid have boen atmy oxpouso, uud the costs would Lave been heavy, #o Iconcluded it was bost to accept. [/ tried to get off with §100,000 now, balance sn one year, but could not, Jf I can make this pay- tnent 1 will jeel like 1 Aad @ big load off my mind, aund will then go to work to bo ready for the bal- anoo whon tho year comos round.” This Is & good point iu Alleu's’ autoblography to pause for & moment aud reviow the record. 1y his own showing ho stands forth on the 2ith of May, 1873, under the griovous wecessity of soltliug an estato whicl ho has boen attemptivg ta retain in his own charge for over a yeur after ita surronder domanded, Ou the lith of May, 167, also, wo soo him slmost stunmed by the crigis in_Ins affatrs, snd desperatoly intout upon invonting direct sud immodiate robiet, e ‘THE COOK COUNTY BANK, THE BUNAL BANKER IN CHI0A00, How aud where ho found that relief lot his own porsonal momorandum on the 30th of ay disctoso, and lot the depositors in the Cook County Ilank trace with satomehed gazo tho courso through finaucial ethor oa which thelr lost thousands spod, ALLEN'S EXPOSURE OF ALLEY, {u this vegard, is worth keeping in type: +1 have been negotiatiog for the coutrol of tho Cook County Nationsl Bank of this city, aud Lisve closed the trades Mr. Sponcor, the Proaldent, owned a oontrol of tue stock, and was als0 largely intorosted {n the Btate Barings Pack of this city, Mr, Dorr, the Prestdent, was going to Europe, and Mr. Bpencer concluded to take tho Stats Hevings and give up the Cook County Iisnk. 1lonked the whola thing over and soen it looked well, and that I could got ft on farorable terms. Tomaka & long story short, I have bonght 8275400 of tho alock. , . . The capital 18 8390,000. Depoaits about £1,300,000, tho asurnts all guaran- tood to me. I got it ro the paymenia do mot embarross me, and it will halp me o work oul the Recefver matler. Threo of my Uiroctors aro Directors and stockholders in the Btate Savings Bank, the oldest tn tho city, 1 think. Their deporita are ovor £4,000,000, and we. 16 to work topether, and by #o doing aro abous 88 ntrong a4 nny combination in Chlcago. By proper management, 1 expect Lo be avle to ma- terially help mysclf, so as not to he under the noceaeity of having to bortow aa I have heen for the laat year (7 got wllerly disgusted trying fo Vorrotc), . . . 1 can make some unscls acailalle that 1 hate been unable to make of any uge in paying delbts, THE IRECIOUH CONFESHON ANALYZED, A very fiarkh sud csndia memorsndem ‘thie, aud ono which, if publishied o an lIncredulons world soma tims £go0, tight have shod alto- gother an uuexpectod light upon tho operations of the **lowa Banker,” Tho precious documsnt will both bear snd roward analsris, To a sugerficial and therefors careleas eritic it might have occurrad that, in such s hide-bound monatary condition a8 Alion reprezented his to be on the 24tk of May, with “no available stuff, not even cordwood.” in his pocket, and ag in- wenso obligation to meet, which ho had in-ffect- mally endeevored o stave off, the most reckicss sinancier wonld think twice before jumping wio ®new and unknosrn estarpriso, " 'K;o nuch uhallow objoetiona 3r. Allen thus ro- orts : 1t witt elp me fo work ont the Recelver mat- tr. . .. "By propr management I ezpect (o e abie to mater.olly help myself. . . . 1can nake soms asarts acailable that I hate been un- able to malie of any use in paying debts,” Which ix at loxet one way of accounting for THE MILK X THE COCOANTT. But tow was Allen to buy $27i6,000 worth of tock fu & new enterprine mhen s was absolutely wouneylose, though orerioadea with useloss and “wuavatiable assots " 7 It s truo that aboat the precire dotaila of the transaction ho has enverod nothing in hi chron- ieles, but o clork in the Cook County Bank has ventured to describe this most remarkable fluancisl operation of modern timos. Instoad of buying £275,000 worth of stock, Allon only purcliasod slistos o the amount of $245,001, and for this be paid in his own per- saual check on the Cook County Natioual Bank, —in which he had no monsy. Just tnke treath, and comprehend this unpre- cedented *'STHATROIG APTPROACK™ To TaE 21,300,000 1x DrvosiTs, ont of which Allen coufersed hia deliberats in- tentinn to **waterialv belp bimself.” 1f Drown wera to proposo to Smith that he rhould g:ve to Smita for Bimith's sbare in & cer- tain corn-field owned by Smith, Groen, Janes, aud Robinson, no mors satisfactory consideration than a promise of part of tho whole joint erop, in which Greop, Jomews, and Robinzon had an unconsiderod interest, Lis wonid do exactly what Allen did. T30 chances aze that Brown wonld be kicked off his premires Ly the mowt placable of Suutns, Alleo. however, with nothiug more satisfac- tory, 1o Lix depesitors &t Jeast, than a promise to pay for Lis privilege out of ihoir savings, abso- lutely acquized possession of the bauk, and, what is still less credible, mads tus wortblees check, for a long time, do duty for £2G5,000 worth of tegal-tendor whon the Bank Examiner scrutinized the crsatts of the Cook County Bavk. The dopositors of tho Cook” County Bank are. 1 stiould supposo, not very likelv to_have their alfection for Allen intensified. by this etvposure of thoe facile manner in which he masaged to et at their money. Thodevi the means of materisliy heluing himeelfl ia cor- tainly simple onongh,—simost, indeed, to the point of unbalief. THE RPFICACINDS CIECK for $255,000 which, worthless as [t wae, waa the +*opon sesame ™ of Nrothor Alien, aue Mr. Dob- binw, a fellow-Director in the-bank. aaw inchitnd amongz its nseots, and Allen himself aliudon to the trancaction in s mewcrandum dated the 25th of June, which speaks of **my check for §263,000 lying In the bank.” That he should buy the cootrol of tho institu- tiou by paying for it out of 1ts depositors’ pock- ets, und that ho should be ahlo to replacs tho £265,000 thus sbstracted with & bit of printed and autographic atter worth lews, on an ax- iravagant cstimate, than 3 cents, would have npoken volumes of prediction for tha bank's fu- ture if only the facts had been aa vocal at the time a8 they are nowadays, — THE TROUBLE BECINS. ALLEN A8 A BODROWER. Haviag got the kess of thn Cook County eafe in Lus custody, Mr. I, F. Allen weizes his pro- turesqao pen ouce moro aud proceeds to jot down bis procions memoirs. “I am vory much afraid" he comolsins on tho 9th of July, 1873, * that I shall fall short on tho 15tL." No wonder. Dearing In mind bLis ssuguine contideuce that through the **three Directors™ who wero concerned both in the Cook County Bank and tho State Savings Bauk, he would +work together ™ *and matarfally holp himuel,” Ar, Allen roquested the favor of **$73,000 or £100,000" from the lattor concern. Ho very roasonably expected to get it as o matter of courso, and waa not & littlo surprised whon Mr. Spencer rather cooly declined to accommodate him. Thal s why bie was afraid he wounld fall short on tho 15th. On the 10th of July he makes another note ot BPENCER'S NLFTSAL TO LESD RIM TUE MONEY; on the 12k ho I3 passionate to the poiut of fury, and on tbe 15th, sowchow or other, Lo eottios tho voxed aud rayaterious account, It is worth whilo * trying bait," as your fox- hunter haa it oa B, I, Allen’s autobiograpliy to the 10th of ay. Ou tho 10th of May hie makes a remorandum that ho Las Iudorsed the paper of I E. Brown, a contracior, ta the smount of $7500, and that ho holds aa collateral & judgment in favor of T. E. Brown aganet ths city of Memphis for $200,+ 006, e thus soliloquizes touching the Lrown matter : “Ihave full control of this vlaim and can use il in any way it may be ncceszary, 16 w & mortguge ou all the real eatato In Memphis, nud it ould be good eecurity at 50 conts on tho dollar,” Upon this judgumont, bypothcested with him for & more indorsement for §75,000, withont any advance of cash, he makes up hiy mind “loraise the funds o pay off the fund held by me as Receizer, and all 2 can get on tis will make it all the lighter.” 1t a poor unchristian devil of & pawnbroker wero to make & habit of raising money on his pledgea to * pay off * & trust fund which he had proviously oxpended, the chances sro that tho pawnbroket's trip to s penitontiary would bo slhort and diract. 1., F, Allen controlled as security agaiust loas oo au Indorsement for 575,000, cerian papers apportaining to one T, . Drown, and Imuiedi- ately set to work to doubly hypotheeato thum to Lielp b out of ** Tho Resalver busines But in a very little while Allon discovered that Lo was * stuck " with tho Drown judgment, and 1bat ho could wako no use of it in tho mouvy wnrkot, Ho stigmatizos his own courection with it as ** foolish,” aud pathotivally obeerves to himself, *"This is oao of the thivgs 1 must suffer for,” though the chances aro iho muffur- ivg was done for Lum, vicatiously, by bie doposic tory. e THE BANK SUFFERS. MOW ML ALLEN HELPED MIMNCLY IFDIVIDUALLY. On the 15th of August, 1873, Mr. I, F. Allen muakes this bald and candid entry, perpon aud ink, as rogards tho Cook County Dank: o My intention is {0 get the bunk's money 1o help myself individually, A coufemsion su ingonuous as this would bs neutralized by 8 vinge commsnt, On the st iCago Dailp Tribune, CHICAGO, SATURDAY, NUMBER 218, of August, 1873, so ths Cook County Clerk al logos, the Bank Examinor called to make biseus- tomary inapection. To maka up the legal ree 8ervo, (which had fatlon, a8 may be imagined, good doal short of the required figuras, Mr, Allen handed hin Cashicr, amongst athar things, a fleticionia draft on Now York for 2100,000, not to be forwardnd to Now Yorl, but to bo nsed merely e5 an illusion or devico for cincoaling from the Bank Fxaminer the pecuniary vold which very clearly must havo oxisted to make such a procecding necassary. Op the 22d of ‘Auzust, Mr, Allen, not oon- tent wmrmnonledly assuring himself in thepast oxactly why lie bonght tho Cooic County Bsnk, miakes thin new memorandum of his purposes ¢ * In poing into the Uoak Connty Lank my ons oljfect waa to gel in ahapalo kel ) until £ could gtah’z!." e WD BNy e Another and joint motive, nccozding to a pre~ vioun ndmiseion, was his lone of em-mzlm; -upu- rangtement with the State Bavings Bauk wheres br ho could ncearionally get at the i denoat in that inatizasion. LMD of 1fe bad resorted to thaS:ate Bavin, a had been rebufed. With that road nf:lfi:\:}f ||r11:: nck Srizeller, to whom all atreota teomed with creditors, ks had to discovar noma new courss apon which o circumnavigate his smbarrass ment. A man alwavs fortilo i oxpedients, he vyery quickly trimused his ewmly to tha breeze. g A NEW EXPEDIENT. * LONOING EYLE TULNED TO NIW YORK, On thn 224 of Augast he promptly made mp bis mind to tako possoasion of the New York State Loan and T'rist Company. Mo thua tenderly and carefully raminates over hiu latest resource, T binva nodesiro toexpand,~slimy wishesars to contiact,—bit by getting control of thal instifu= tion \twouldenalle me to. renlize on some of my assels and thereby put me fn funls, and mako thing+ easy all round.” The longor he debated the projsct the more enamore ™! it did he becoms, nod on tho 25th of August. d‘fl/'fl': eharacteristic iutrepudity, bo canfide "lm,,, *ho * could hava the objectionbio . ") p, * have full con- trok of the institation”. trg,; eans." I, therefors, the sswtew 4 Opg o Allen, “1owa," or *1. O. U.," Banker, bo a.. tomplary system of fiunuce, the best resource of u penni- loss boggar is to buy a bank. Henry A. Smgtho, at ons time Collector of the Port of Now York, was the Presidont of the New York State Loan nnd Trust Company. In him Allen bad almost s muck confidenco as in bim- aclf. On tho 1at of eptamber ho makes a memo- randum to the effsct that 1 liave scen Smytho. My only abject in hacing anything to do with it [to-wit: the Trust Company} rrould be fo placo some of my assels and {o gel a loan to eans up on what I aw now carrsing, I conkd draw enough out to make things easy.” We bavo lua onn word that + KIS ** oNLY onsECT" in snoexing tha Cook Couuty Lauk was to *tholp bimeelf ™ in ke manuer. It will not bo out of place just now to explain Allen's actual conditton at this period. To quote biv own_ptriking plhraseology, ho was ‘‘overloadod with dead etur,” All’tho wmoney he had previousiy mado ; all tho cash to whicll, Ly various mothods, he lad enjoyed accens ; all bis easy credit, bad almost entirely dissppearad. and, o their stead bo hold a pro- digioun amount of secarities, wome of them hacdly worth the paper they conststed of, and, nestly all of thew, tedious to realize. His object in petting control of banking instl- tutions was clear cunugh, even without his onn ingenuous explavation. What ho aimed was thy swumption by tke inatitutions which fel. into his hands of all the *dead stufl,” whosd weiglt and worthlosstiess ho was continually lamonting. Alien’ poiicr, in shiort, was to shifs his own load on his dopostors’ ehouldors, with & ropult alzordy intamous, —_——— HARD TIMES, TLL-LUCK TURSCES TEE 10WA DANKER. His journal bristles througi the autnmn of 1873 with denonciations of his fuck and the hard times. ‘Though, oddly enongl, Lio always hopes, an overy entry, that he Las ‘“touched bottom," and that * next weok I'll see daylight.” His Des Moines bank waa coustantly orer- drawiog ita account in Cbicago, and this pave im much uneasiness. To his brothar-n-aw, Harry West, Lo repeatedly protested that the Des Moines coucern *‘ocught to take carvof itaell,” and au ita avardrafia reeurced day ufter day to vex his righteous spirit, day atter day did bia diary assumo THE FLAINTIVE TONE OF A JEREMIAD. On the 5th of November, that dak auniver- sary of Guy Fawkos' conspiracy to explodo a mine under the FEnglish Patliament, thus docs Mr. Allen Iacouicslly duscrive Lis condition @ I'ni protty well used up." But with this remarkable finaneial genius, tho darker bis mazo the easier bus way out of it. L. MURPIET A8 A SAVION. Ouo of his morgauatic ailiancea was u parter ehipin the bLog-packing bueiueas with B, F. Murphey, of Chie: Surphoy oxpacts a loan with David Dows & Co., of New York. The amaunt is &200,600, and Allea, almoet deltrious at eight of scmetning ko unlike hiy “dead” steff * and “unavailablo assots," malwa up bis mind that THE BANK KIALL * Divew n yulzar phrace, with the packing-house, Pleasant, this diccovery, fue David Dows & Co., who lent the money nnder the impression that ie wan to take tho shape of consignments of pork, and not of that choice sud very miscollancous colleetion of curiositica which Allen facetiously entitles “ my assoly.’ Outhe $th of November Alleu’s journal con- tains such gems, rich but not rare, as thoso wUnlil 1 gel velief jrom the pork-money, through friends I bave ot a promiso of tus city deposits, and must keep up mmy credit till then, It is dangerous to try sud Lorrot mioniey. It bias Jeaked out that Itried to lorrow moyey vut of the Ntate Savings, With the packing-hovae fund fi: ciwln‘ug‘m!. aud a goud city deyosls, I shail sco avlight. 'l'hs‘ Allen's gonius resombled, in ts versatiti. ty, tho trauk of an efopliant, which cau pick up a nosdle or braudish 8 whoct-anchior. 1s evident from the easo with which ho procecds from an entry in his journal aboat “thoe pocking-house fraud" to swaller domestic details, s b FAMILY AND FRIENDLY RELATIONS, NS, ALLEY AND CUAUNCEY DUWEY, Mes. Atlou aud ber dsugbter, Jiss Kittie, wero en route frow Eutopo, nhere, a8 by patbetically complaius, taey Lad spoit monoy lavishly, Ro- forring to thoir expscted arrival, ho makes this “Thoy havo ot voma lugpage to bo smuggled through. bmythe hasa nian who, for a consid. eration, will atiomt to it.” Now, from **unloading dead stuff™ on trustfu) dopositors to defraudiog tho rovenus i3 A JUNP OF NO NEAN dimonsions, even for au lown banker, But Al- Jen takes his ditches fontieanty. What makes It *all (ko more Linding," as Nelso Boymonr used to have it, {s that **Smythe, who * bad & wau who will attend to it for a con- wideration,” himeolf used to wit st tho gate of Custow and collect duties, ‘Cruly » most remarksble bit of mezzo-tiut pore traiture. MR CHAUNCEY T. BOWEN, of Chicago, who enjoyed the duubly privilego ot being Mr, Allen's Vico-Prevideut in Chlzago as woll a3 Vice-President of tio Now York Stato Loan and ‘Trust Company, was ssroatly dopendod upon by Ar. Allento * kvep up the line of dize gounts ™ at the various banke which did bustuess with the Chicago convari, 1ost of Mr, Bawen's by Mr. Altad, wis o zaisa mouey wecnntios vnd papee as foll [ty Ve Lunyla iu tha Viees. Now, either in s degiveation 2r, Allofs usod (o commit to Mr, Bowsa to he e ptived” woed uureiiablo oud worthlats collatezal aad paper, L R @