Chicago Daily Tribune Newspaper, November 1, 1881, Page 1

The Chitago % TUESDAY, N VEMBER 1, 188 tiln © —T WELV! PAG VOLUMEXIL PING eco PAPE AS ORANGE, Saya Rolicos” /EQuiraBLe ure oe Assurance Society, CALESINGER Largest Business ase | aw THe WORLD. AY. ‘ Why? BECAUSE Ip alone teaues Incontestable Policies, BUinulating thet the contract of Inaurance “shall not edt after itis ture yours vid, abd iat suctt polluldy shau'be Paid Immediately, On receipt of satisfactory proofs of death. BECAUSE Its polley {a clear and conciso, and contains No Arduous Conditions.’ N. H.-Read_ your Poltetes. Compare the short and ainiple form used by the Equitable witt the long und obscure contracts loaded down with LeckDleutt= Uva vaued by other culupanteat BECAUSE its * Cash Returns ‘Yo polley-holders are Unprecedented. N.B. Bee) ti many lottors srom polloy-holders x- i iF ratification with the returns frou Thelt TENT SAVINGS FUND POLICIES. BECAUSE of its ‘ Financial Strength. OUTSTANDING INSURANCE, 190 Millions. ASSETS SECURELY INVESTED, . 43 Millions. Surplus Seourcly Invested, Nearly 10 Millions. - AGENTS WANTED In {linolx. Wisconsin, Minnesota, lowa, Nebraska, aod tho Territories, Northwestern Department, 108 Dearborn-st., Chicago. OP, CURRAN, | Managers | WX. CRAINE, OARPETS. TRMMIne DEPT. Fine Beaded Passementeries ! Fringes! Ornaments, etc.! ATA “Very Heavy” Reduction! 69) Passementeries marked down to $10 vl “ “ ““ Ny 9 “ “ “ $50 Lower-priced Trimmings reduced in like proportion. Buttons! Share in the same reductions, ee “LEADERS OF Poputar Prices,” STATE AND MADISON-STS. Branch, Madison & Deaplaines-sts. = 7) OOTL AND SHOES, D SHOES. Walker Boot. ‘LP. Farnum Wholosale Dealer In Bootsz Shoes 240 Madison Strest, CHICAGO, Sole Agent In Chicago for the Celebrated J. 1. & G. A. WALKER BOOT. t Send for Price List. wn fLOAKS, DOLMANS, Wes CARPETS! We offer to-day, and until sold, LARCE LINE Body Brassels! $1.25 per Yard, WORTHE $1.50 to $2. MARSHALL FIELD & C0,, STATE AND WASHINGTON-STS, BLACK DOLMANS, CLOAKS, ULSTERS HAVELOCKS, ENG, WALKING JACKETS, $5 UP. AML ROTHSCHILD, 168 State-st. HEIRS WANTED. ion sce MACDONALD, Confeasoner, Aber Thetiae TOUR MACDONALD, CoNrECTION Rt, Nowinarget Buliaings: ‘Abonioen, Seotlund, who wal burmut Kircemuir County, of Hurtur, entlangs hn ‘your 10), was the sun af Willa Mulrbvud Atau- aati ‘atid deat Hausa, Ihe wife, and liad at Aber A An the tonthot August wat Wiltiain Muir trend Macdoiiald, ts tuthur of Joli Maclonalds was wud resided fur some Uwe at Kirriemuir, und Nr hor in. {Abuniead, whoru be diod butwoen ‘Arty x dgceatod Jotun Macdonald bad four brothors— namialy? (Hirst) James Stucdonatd, wn is Dolluvud to hava died in Aincrica betwoun thléty utd, tu 1 base Gover Witla Macdonside whe enh iH suldier rh oe Bavantyaal roar ret Atay imuntat Foot bs bee ———____. tt ‘awn, Cane af Goud CUTLERY, Hove, about forty yearsauey fiend David Macdonnid, ON ere eros miu wna nsaitor, dtodt sun ubout Qo faut etourtty i ‘Mucduniuld, bluck= ELIABLE. pala reas gnitiod ava furcivr in tuo wrioy batween . hd HfLy years i dink the aforosaid brothers of ain Muaionali-deeuuged, or OF thule doscendants, or wf uuu ottive rulut ves of tw sald J jot Mtwetumatd, Meare, WrEPHEN, hh AU X + Rudgerw & Bons’ and Gev, Wostenholn's POCKET CUTLERY, RAZORS, Hew Vino Scissors, Nail nnd Work 8 vera Pwcerare nant tg MANASSEE, Importer, Tribune Building. _HUGKSIEIN N UNDERWEAR. _ 0 PRESERVE HEALTH PATENT PERFORATED BUCK. mt TAUMENTS. 4 See Ee He ae Teearonis uss Eyer Keown Where ‘These Garments WERE WORN, MAL and MAS. BOURNIQUE'S SCHOOLS FOR DANCING. + WEST SIDE rum, 05 Madison-st. pours IDESES Teomycvurieses hoar Indl onn-ay, Classes for Ladies, Children, end Gentlemen, For particulars seud fur Cataluaus es DASILVA d& mrs BRADFORD'S Ogdon Momuan's) Koxtlsh, Feonch, {asplne the 7,10, wait ak MO aatouan tbodeding and tine Behos dor ound J ynpereut Ce niform degree of warmrh, dies aud children. No. 17 Wont ‘Thirty-elynth-st. ry ‘okds, Bob . font es float Hthoumiatiana, anda nf ktndrad tale Se tout. We Abpea ion may DO iuado eke fF uF pursunally ae ato Ueylvanie Military Acudemy, a. Civil Enginogring, Cheuwistry, Classics Dogrove conferrud, Col. ‘hyo, Hyatt. Pres __ HOLLER 8. SKA ROLLER | 81.51.50, $2, $4885 ie ute peuualuige for Lwulvo cbusesanvs ir for clreular, For sale ot NESTA URANE AS YOU LIKE “EM, BRAS. eLTos ows BPALDING'S decent | SKATES Ss Muduon-et. LIVERYMEN Please take notice that Ad. MUTT & CO. “Keep in stock full IInes of Coachnicn’s Orercoats In the three most popular shades, viz: Blues, Greens, and Browns. Custom Dept. Is always-ready to produce any special- tes in Livery in the most approved style, and at prices which you will APPROVE OF. This samo identical Custom Dept., WE THINK, is ono of tho heat spots in Chicago for Gentlemen's Fine Outfits. The best of Artists and finest Materials aro hero at your service, and the prices are, if anything, TOO LOW FOR THE QUALITIES PRODUCED. 104.& 106 MADISON-ST., HEADQUARTERS FOR Fine Overcoats and Fine Suits. YES, ALL KINDS OF MEN’S and BOYS’ PARAPHERNALIA. FIRM CHANGES. DISSOLUTION. Notico In horaby lyon thu tho partnorshin lately oxisting betwoon Krneat , sintth und, Milo fuhiner, Under the firm name at Smith & Hagntne, fs This day dissolvod by tnutual consult. All outs standing accounts Will be sottlud by f mith, Chicago, Oct, 29, 1881, ELLIS & LIGHTNER, Commission Merchants, .170 Washington-st. J, ADLER ELLIS. MILTON C, LIGHTNER, DISSOLUTION. under sora seemed nates Coe nas ay Leun dlusglved by mutual cansont. A peRewuiltt, the resident partiey of tho lato AL je WALL mista Ty Me ai Ait of Chicago, { of Loutsvilie, Ky. Welt MILL WERDER, Chicago, Oct. It, Tes! COPARTNERSHIP, UENCER, FP SCHMITT, 8.6.8 Tate of FP Hehinitt & Co, Laatout 3 C-xpcncor & Ce Wo lave tls duy. formed a copnetiarsiiy for tho yaygenges, teunwmoting & GENE AT. COMMISION HUBINIESS in UIE AND BROVISIOND, undor the CULT & SEEN CIE unt gel. eller for immnudth- waa ia ne Chleago, Nort Ie itoom M1 Moreimits! Pata DISSOLUTION, Notice ls beraby xlvun that te, partnorahiy, Intely existing teeeae yer M. raya Of Brighton, and JA a Me IA HUES Gf ColGure Gnuaeinand oti busiuaain thie ally thruugh shel wxeut, dunn Luus der, under ‘ hw tiem wane ut HARBEN & CO. hus Lowi, ahedolvad gh WILLE? SM. BLALT, JAS IL WAKISEIE Culeogo, Vet. it, 1851. ees DISSOLUTION. ‘i tice Is hareby elven thut the partnorship Intol; edletine Worwoon Glaus We USPC Ys an RALSTON, uniur the tras nwe uf 0. W WOMBLE VSS Con te this dag aisabved by suutual eouaont, Alt Outstauditig debts will bu austied by. H, Ralston, GIEAIL IH WW, HLSERLTIEEYS, J 1 Chicago, Noy. 3, sai U88 UW WdlsroN DISSOLUTION, phe fim of WREDWELS, COMPING & CO. 18 horas dissoly tutus! consent, Contos & Adwius Warvnvetiuod’alt ites ot (tia eal ema af “treat: well, Coppins & Co. atid ut jurizod to colloct all Secuuunis Guy wuld ‘eu OF “rtodwully Coppiny Cu, atoresai (signed) KJ. TREDWELI, g 0... COMPING: ‘Chicago, With Cotoder, 183, CHLAB, A, PULLEI, anno under OPARTNERSHIP, aufptutiae His Ara aauiy of CORTIRB EAM, one sicviauwally Capote 8. be succesure tu nid (sha GKO.'?, COPPINS, KO. 8. AD, Chicayo, ith October, 1851, = ae DISSOLUTION, ‘The Orm of 8, C, SPENCER & CO, ts this day iss solved by mutual cunsuut, Either partuur will alan In, muttleimont, accounts ill renialn at the old of bouks sind sie, ovis Iiyad lea Ballorate ‘ Chicaza, Oct. 31, 1931. Saab, FINANCIAL, “Preston Keonk Go, ‘Bankers, 100 Washingtonest. Bankluy 11 alt branches, Dest tn Uutted States, Muatolpal and Hall- roud Bouds aud other youu securities. FUREION Exchunge, Letters of Credle, NEWS IN BRIEF. —Falr weather, southwesterly winds, and stationary or higher temperature for this re- glon to-day. —The publie debt of the United States was reduced about $15,000,000 during the month Just closed, Tho reduction for the first four months of the current fiseal year has been $57,000,000, —A copy of the bilion which Congress- man Clark, of Missourl, sevks dlyoree from his wife was served on that lady yesterday. It charges drunkenness, the use of opti, and an tngovernabletemper, It dovs not charge lutide lity. ——The total value ef the petroteum and petroleum products exported during the nine months ending the 60th of September was $4,002,001, against $4,080,025 worth ex- vorted during the corresponding period of jast year, —The estimates for expenditures by the United States Postal Department for the current fiseal yenr are $43,001,200, ‘The estl- mintes of the postal revenue are $42,741,722, thus leaving only a deficlency of $19,578 to be supplied by taxation. — Congressman 4}. ©. Burrows, of Michi- fan, announces himself aeandidate for the Speakership, and has already commenced on active canvass, He left Kalamazoo for Washington Saturday. Kasson seems to lead all the other candidates thus far, —Recelpts of grain at Buffalo so tar this Season show a decrease of 42,061,370 bushels Qs compared with the corresponding part of last year. Theshipments of coal from Buffato thls year show an Incredse of 224,40. tons over the same pertod of Indt year, —Williain Duckett was tlned $75,000 yes- terduy by Judge Johnston, of the Quebec Court of Review, for having tuken his seat and voted In the Quebec Legisiature as a member from one of the’ electoral districts without having the legal qualifications for mombership. * —Ernesto Rossi, the Italian tragedian, innde his first sppearance before a New York audience In Bootl’s Theatre last even- ing, and was well recelved. ‘The play was “Othello, and in the opinion of some of the erlttcs he is superfor to his great country- man, Salytut,. — Judge Anthony rendered a decision on the Taylor divores case yesterday, snnulling the first divorce on the, ground of gross fraud, and thus deciding that'Taylor’s second marriage was Illegal. Judge Anthony un- stintedly denounced Taylor for his mean- ness, perfidy, aud scoundeoliam. —The Anti-Semitic Clab of students of the Lelpzic University sent Bismarck n tele- gram expressing regret at the result of the recent elections in Berlin.. Bismarck has r plied, and says that he is nelther surprised nor discouraged, udding isontentiously that “chronic diseases require thins and patience for cure.” ——Valentine Yeske, a inelnnatt butcher, inade a murderous asaaulf on his. wife last night with a kuife, gashipg her throatin a fearful manner, He then drew the knife Across his own thront, heRefine what ts be- Jleved to be a fatal wold. His wife wilt probubly recover, - Yeske has been drinking for sevoral days. ~——tThe Board of Cook County Commis- sloners yesterday appropriated $070,000 to ba levied by taxation to meet the expenses of the yarlous county departments durmg tha next fiseal: year, ‘There are Inrge suns standing to the credit of the various funds, owlng to tne economical management of tho Republican County Board. -—Sonator Mahone expresses himself as quite confident of the success of the Conll- tlontsts In Virginia at the forthcoming clec- tlon, Tho white vote, he thinks, will be pretty fairly divided, and the vast majority of tho colored voters will certainly vote against the Bourbons. The Democrats sd- init some fears, partleulnrly as to the Legis- Jature. ——An insane man called at the White Mouse to-see Dr, John Noctling, who the Holy Spirit, he said, had told hin was Presi dent of the United States, ‘Lhe guard suw at once that he was a crank, and tried to in- duco hin to leaye, Ho refused, and was then arrested, but not without a tierce struggle, however. A alx-shooter was found in bis pockot. — The Prince of Wales was in Paris yes- terday, and dined with Sir Charles Dilke and Gambetta, ‘Time was when the Prince and Dilke were not on dining terms, when Dilke was the most determined opponent of any Increase {nthe Prince's yearly allow- anco; but Dilke is now member of the British Ministry, and an aspirant for a Cabinet position, —Tho Von Steubon party were treated to tho hospitality of Chicago yesterday, Mayor Harrison welcomed them In German, and onvof their party replied, Miss Harrison, Gen. Sherldan, and the Committee of Rucep- tlon entertained them, They were drawn around the city, and shown the Stock Yards, the Water-Works, and qther great things Which Chicago has to slow. —The City Couneil st its meeting lust night passed an ordinance empowering tho Mayer ta act as Comussloner of Public Works until such time ashe ean find a suit able person to {111 that position, which he ex- pects tu do in thirty days, ‘The Council aso directed the Controller to pay Jameson what is duo him for revising the elty ordinances, and ordered that'a nusnber of streets be re- paved. —tho steamer Bristol arrived at. St. Johns, N. BK, yesterday with tho steamer Aviona, from Cadiz to Montreal, with frult and wine, in tow, ‘fhe Aviona had her rude: der carried away and her cargo shifted when twenty-two days out, during the recont At- lantlc gale, ‘Phe steamer Liseard, from Vire gluin to London, with cotton, and seven days out, arrived at St. Johus also, with her pro- peller broken, —Col, George Cowle, Chief of the Diplo- matio and Consular Division of the Firth Auditor's office, has been removed, IHs resignation was asked for by Fi{th-Auditor Alexander, who fs of opinion that Cowle inproperly recommended the payment of certain consular claims, Cowle refused to resign, and was removed. His friends say that his removal Is to bo attributed to nis popularity, and to Alexander's jealousy, rather than to any wrongdoing, —~In the caso of the City of Chicago, ap- pallqnt, va, W. C. 'Tibbots, from the United States Clreult Court of the Northern District of IMnois, which grew out of the condenma- tlon of land for the extension of Dearborn street In 18609, the United States Supreme Court decided yesterday sgainst the city, and condemned It to pay the original judge tent with costs aud Interest. Judge Brad- ley, who rendered the decision, commented “rather severely on the conrse of tho city au. thoritles In prolonging ittgation fn the mat- ter. ‘The amount of the orlgtual judginent shief-Justice Hunter, of the Utah Su- preme Court, rendered a deelsion on the question of ex-Delegate Cannon's naturals Ization yesterday, which declares that Cane non’s pretended naturalization was a nullltyy thus sustulning the positlon tuken by Goy. Murray in refusing to give a certiiicate of election te Cannon, It is provable thiit in view of this deelsion Conzress will give the seat to Campbell, Liberal Republican, to «whom Goy, Murray issued the certitieate, —Senalor Johnston ted the Democratic hosts In the United States Senate syalust the confirmation af Stintham (Democratic Re- adjuster)as Vostmasterat Lynebburg, and the Bourbons Jost consiterable sleep and con- slderable solid food over the matter. ‘The Senate had senreely adjourned Saturday when Stratham was uvolnted vice Wilson, Johnston's whilom friend, superseded. ‘The Democrats liave probably discovered by this time how unprofitable filbustering is, —Judze Rogers decided yesterday that Mrs, Ada Robert, who murdered Theadore Weber in May, 187%, and who was nequitted of the satirder fn November of that year on the ground that she was insane. Is now of sound mnind, and Indeed her counsel, whose eloquent pier tn her behalf on both ocen- slong, when she was tried for murder and when It was sought to prove her sane, aide mitted that he did not belleve that she was ever Insane. The lady's counsel also thinks dudge Rogers’ decision is a triumph of justice, -—The Rey. Dr. Young, 9 Methodist clergyman, delivered a discourse ut King: ston, Ont, Sunday night in which he upheld the verdict expelling the Rev. Dr, ‘Thomas, of this city, from the Methodist comnimion. Ile said the Chicago divine shad) fmbibed Beecherlsm, Ingersoltism, and agnosticisin, aid Dr. Young held that tho mixture was nota wholesome one, ‘The Rey. Dr, Burns was rebuked for hts support of Dr. Thomas, and his expressions uf sympathy have been repudiated by the Methodist ministers of Montreal, —Lexington, Ky., turnishes several items for our criminal columns, Qne Sanders, who was confined In jal! at that place tor wlfe-beating, hanged himself yesterday; Cella Singleton, a colored girl, poured car- bolic acid down the throat of a S-vear-ald girl, killing her instantly; and Jack Halloran and Andy Warner, two hoodlum, had a fight with knives and pistols in the public streets, but made common cause against two oftcers, Harlan and Harlow, who came to arrest thom, Harlow was badly wounded, but the hoodlums were arrested and jailed. ——The German Liberals expect to elect twenty of their candidates in the ninety second ballots which are yet to tuke place. ‘This will give thom a membership of 100 in the next Relchstag, Blamnrek will hardly have a following of one-third of the Reichs- tug, ant hardly knows which way to turn, In view of his recent rebuke he will hardly enter Into closer alliance with the Ultra- montanes, and must either remain perfectly quiet and attempt no teglsiation, or make- his’ Inte opponents ; common. cause * with through his former friends, the Liberals; -“* ——A Canadian member of Parlinment in- tends to ask for reGlcction on the following platform, and ho wishes that other candi- dates would stand on the same: The ele tlon of Guvernor-General by 9 popular vote; the reduction of the imembership of the Executive Council from fourteen to seven, and tho reduction of the salaries of each to $0,000; 2 complete and sweeping reform In the civil service, by whieh fossils may be relegated to back seats; and salaries over $20,000 reduved 25 percent. Tho Canadian M. Py in question has written tox friend to express his bellef that Britain ts willing to grant Canada Independence when Canada asks for It,-and that a Governor-General chosen by. the Canadlan people will not ba snubbed by British officials when he goes home to seo his wife, ‘The Canadion MP. has some syinpathy with the Marauis, —The Mechanics’ National Bank of Nowark, N.d., for many years considered one of the most stable financial {nstitutions in the State of New Jersey, suspended pay- ment yesterday. Its Cashier, Oscar L, Bald- win, was arrested a few hours afterwards, and confessed that ho was entirely to blame for the suspension; that ho had misapplied $2,000,000 of the funds of the bank. Like most men In his position he was ‘completely prostrated” by the fuctthat his rasenlity was found ont, His explanation iy that fn 187 he began to make loans to C, Nugent & Co, morocco manufacturers of Newark, asklog neither the sanction of the bank Directors nor security from Nugent & Co, Having begun, he snys he felt that he was in the power of the firm, sud made Jouns to them wherever they wanted, sometimes loaning thom as high as $50,000 a month without any security whatever, ‘The Nugent firm promtsed that all louns would bo ‘made good, that It had plenty of property, and atso assured hii that there woultLbe no trouble, Daldwia's story will do to tnvestigate, It fs evident he ling not told tho whole truth, He affects great sotrow for his sing, and anys he ts ready to go to the penitentiary to explate them, —There seems to be Indubitable evidence that the agent of the Associated Press in London has veen very greatly Imposed upon, or fins been guilty of wholesale lying, arnt that the London correspondents of tho New York papers have alther been willfully de- eolved or that they thenselyes haye taken to willfully decelying that portion of the Ameriean public for wha they write. We have been told by these gentlemen every day during thy past week that the Land League was going to pieces in freland, that the farn- ers were desvrting the organizatlon by the wholesale, aud that If Parnell was released from prison tomorrow he gould not obtain a following, ‘This week, however, wo are snformed that Archbishop McCabe's cir- eular condemning the Land League was re culved with marked distayor wherever read —so marked that even Irluh Catholles left the churches In which they were worshiping rather than hear It read; that secret mecet- ings of the league wore held. at which hun- dreds of now members Joined; that mectlugs have been held in various parts of Lreland where tha Government hag been denaunced; evictloys resisted at tho peril of life und Nab; uu that the London Ties has been compolled to preseribe a new dose of coer elon in order to meet the determination of the tenants to stand by Mr. Parnell, Tho ‘Ynunderer calls on the English landlords to assist thelr Irish brethren ont tho Government in order to compet ° the payment of rent, but ‘as tho English Jand- lords are hardly able to take care of thelr own bus{ness just now It 1s quite probable that the Government and the Irish landlords will have to fight it out with Parnell and tha Irish tenants, y NEWARK’S CASHIER He Once Picked Up a Pin in Front of a Bank. The President Calied) Him In, and He Rose Rapidly. In Twenty-one Years (1873) He Had Got Where He Could Steal. He Began a System of Robbery Which Ended Last Sat- urday. In That Time He Had Taken the Sum of $2,400,000 in Deposits. A Whirlwind of Excitement Fol- lowing the Shameful Exposure. Hundreds of Public and Private In- terests Overwhelmed in the Crime. The Culprit. Arrested—Arrest of nn Alleged Abettor of the Em- bezziement. Everything Valuable Found to Have Been Taken, Except the Building and the Safe, A SHAMEFUL CHAPTER IN THE FINANCIAL HISTORY OF AMERICA, jat Dispatch to The Wiicago Tribune. New Yonk, Oct. 5L—Newark, N. J, is fast earning the reputation of being -the champlon elty of bank failures, Within the Inst two years the Newark Savings Bank and the First Natlonal Bank have suspended pay- ments, and today the Mechanies’ National Bank, witieh was considered the strongest financial institution in New Jersey, closed Its doors against its deposttors, and the un- noultcement was made that the bank had suspended. At 10. o'clock, the usual hour for opening ‘the bank, a small slip of writing-paper was posted on the ginss doors, bearing this announcement; “Closed on account of statements nffect- Ing ‘the bank inde by the Cashler to the Bonyd of Directors, which sre now, undergoing investigation,” - ‘Che doors were. gunrded by a pollveman, aud nobody was al- lowed to enter the bank but the Directors,: and all depositors were told, upon applying for admission, that the United Stutes Bank Examiner, Mr. dS. Shelly, was in charge, and no Information coutd-be given until his exainination was completed, THE NEWS SPREAD LIKE WILDFIRE through the streets in Newark, and soon Brond street, near Market; in front of the Mechanies’ National Bank, was crowded with people, most of whom were depositors in | the bank... The great throng Mngered in the vicinity all day discussing the news and clrentating all kinds of remarks In regard to fallures of prominent houses and institutions, most of which proved on inquiry to be baseless. ‘The one fact that was certalnty known was that the Cashier of the bank, Osenr J. Buldwin, had confessed to x defatention of aver $2,000,000, and that the Institution had been forced inte insolvency In consequence, ‘The money which had been lost to the bank had, it was claimed, been used to buck the large moruc- co house of C, Nugent & Co, nnd the estab- lishinent was on the point of falling, now its mainstay had fallen, CHNISTOPHER NUGENT, head of the firm, was arrested lust evening at his house in Newark by a Deputy United States Marstal,on a churge of aldig and abetting Cashler Baldwith tn embeszting the funds of tha bank, The depositors of the hanies’ National Bak areas a class wealthy wen: and corporations, but a great munber of smali mannfacturers hid placed all thelr money In its vaults, and, in many instances, men of small means lind with- drawn thelr devoslty from the savings-banks and plnced them .for safe-keeping in this instltution; so that all classes of people in Newark aro direetly atfected by the suspen- sfon. The elty was ascene of wild exelte- went, and everybody was searching eagerly for, information us te the Habllites of the bank and its ability to meet the demands made ttpontt, THE DEFAULTING CASTER, BALDWIN, wag unier arrest at his own house, at No, 16 Central avente, and the Directors were, 0s w general thing, Invisible alike to depos: Hors and reporters, The uncertainty and quystery surrounding — the — suspension nilded to the anxiety of the ide positors, and the Directors — who had allowed this gigantic defaleation to bo made under thelr own eyes, were the sub- fect of the most uncomplimentary remarks on oll sides. "ho Mechanics’ National Bank was the pet bank of Newark, and looked upon by everybody as the soundest Ia the State. It pall t4 per cent dividends auaual- ly, end, after paying its hist seml-annual alvidend of 7 per cont In August last, re- parted a surplus of $400,000, undivided prof Its amounting to $65,904, and a pald-(u capl tal stack af $500,000, Its deposits on the t3t of Octabor amounted to $3,417,215,08, more than threa thes the deposits of any other bank In New Jersey, ON BATURDAY LAST Its stock wassought for ab 180, and could not bo obtalned at that fiznre, Its Board of Die veetars comprises the most prominent and wealthy busluess-men in Newark, ‘Choy avo Joseph A, Hulsey, the President, who 1s 35. years of age, and a retired and wenithy Jeather denler; 8, H. Condit, proprictor of a large Kaddlery manuinctory, Vice-President; Oscar L, Baldwin, & brother of 1, 7. Bald- win, of the Ceutral Rallcoud of New Jersey, Cashier; tho , Ilon. .George A. “Hale Hoy, ex-Congressmun and lead’ of the grevt feather houso of Samuel Hal- soy & Son; Willlam Clark,. President at the Clark ‘Thread Company, whieh has larga works In Newark and in Paisley, Scotland; Lewis C. Grover, Prosident of the ‘Mutual Benefit, Life-lnsurance Company, of Nowark; Edward L, Wright, who inherited afortune from his father, Willam Wright; Henry C, Howell, Sevretary of the ‘I. 1 Howell Manufacturing Company, 9 large leather housy; Joseph 8, Halsey, a son of the President, and a lawyer; James F. Bond, @ rentestnte broker. These gentlemen aro fair representatives of the wenlth of Newark, and the commanding position which tho Mechanics? National Bank attained was largely due to their proniinence and well+ known character for integrity. : ONE DEPOSITOR BAID TODAY! “1 shoutd as soon have expected the Treas ury of the Untted States to suspentl pay- inent asx the Mechanles’ -Natlonal, It was the great bank of the State, and this thing) has come upon us liken thunder-elap out of acleur sky.” Tho confidence of the people of Newark In the stability of the bank was: well founded, so far as oflictal figures could make it well founded, ‘The sworn statement of the Cashier, made on Oct. 1, gives the ful-- lowing rosy account of the resources and Ha-* biliies of the bank, and upon the strength: of such figures; 8 these depositars were amply justified in Jouklag upon the Me chanics’ National as a very stronghold of finance: Report of the condition of the Mechanics’ Na- tignul Bank at Newark, in the State uf New Jere sey, ut the close of business on the Ist day of Uctover, 1881s HOURCES, ne Loans and discounts... ..rseseeeseee%1,000,]00, 03 United States bonds to secure elrcu- 690,000. on Due from approved reserved uyenta, 142%, Due frow otuer Nutionul banks,. ace, Due from State banks and banke: Real estute, furniture, and fixtures, Othor real estate,...... 5,000. C Pexpenses and taxes’ paid... 495,042.00 and other cash tems. W033 Exchanges for clearing-hou: BANS OY Bills o4 other Nationul banks... BCA Fracuouul currency, includ Specie, ameluding Trensury yold > NUL ors eseee 20,020.55. tender not 62,042.00 pion Fund deposited with the Stutes Treasury, per cont of wiremauon,, 2,600,00 ue from United’ States “Freasury Other than & per cent Ketempuoa Fi 4.00,00 $4,107, 8u2,: Cnpitai stock paid in Surplus fund... Uther undivides National bask notes outst Dividends unpaid....... Individual deposite subse Certitiod checks.....00664, Cashier's cheeks ontstund: Due to otbur National bank Due to State bank and bankers. didi ‘Total... State of “New Jersey, Cininty 0. L, Baldwin, Casnter or the M tional Bank, do solemuly swear tat the atte Atutement ly true, to the bust uf my knowledg@ and veil OU, 1. Baibwin, Casbler, Correct attest: WiLbtaM CLAtt Josrvn 8. Hats Heyary C, How! pleceturs, Subseribed and sworn to veforo my, this oth duy of October, 188 BE. N. Minnen, Notary Public. HOVE STATEMENT was falsidat asthe books of the bank haya’ been fulsttied for the last twelve years by the Cashter. but It succeeded In completely hood= winking the contiding Directors, It was very dificult yesterday to obtaln tacts in regard to the enormous defaleation waren has ree sulted in the ruin of the Mecnanles’ Nations al. At the house of Cashter Baldwin, lenry- M. Burnet, the United States Deputy Mare, shal who had the prisoner in-charge, said” that Baldwin had nothing to say to the press, at present. Joseph A, Hulsey, the President, was sick In bed, and most of the other: DI rectors were Invisible. Finally ONE OF ‘THE BOARD 1 was found who consented to tell the’ story so furas he knew it, provided nis name was not used, Moe {s reparted-to-dave lost ull that he pussessed by tho defaleation of Bald-'~ wiu, and, as he narrated this history, he putfed vigorously on a pipe of tobacco, as he said, to comnteract his nervousness, Ab, tines tears filled his eyes as he spoke of the’ villainy of Baldwin, whom he had trusted so lmplicitty., He sald: Yestorday morning Mr. Baldwin, our cashier, gent n message to Stephen A, Contdlet, our Vice= Prealdent, asking for un Interview and appaint- ing the hour at llo'cjock.: Mr, Condict methine nud the cashier then revealed tu bin the fict that the bank wisruincd. The Examiner, bo wald, was lo coe today, and the brok could not Stand the exusuination, He suid that there was adeticlt In bly accounts of over $2,000,000, and that ho wns ready to spend the rest ot his Hfe in prison to atone for his crime. Mr. Condict was bewildered at first. ie has buen virtually President of tho bank, , a8 Ste, Hulsey ia very ald and unable to tuke an netive part (nthe ingoagenent. Ho Is a shrewd imnu,and tho iden that no could have been so deceived complutely dazed bim, He left Bald win, and nt once sent u summons to alt the Dis, revtors calling a movting for fast evening. Wo came together in the house of Prevident Hulsoy ut To'elock, Nearly overy member of tho board wis present, und then for tho first time wo learned of the disaster which bad overtakea us. Mr. Condict told us. WHAT BALDWIN IAD BAID TO HIM, announced that tho bank was insolvent, that there waa wetieit of frum $2,000,000 tu $2,500,000, and that, according to Buldwin’s story, every dottar of the nilssing tnonvy bad gone into tho hougo of C, Nugeut & Co. Biluwin was cuted upon, and he said thut he held the unredeemed notes of Nugent & Co, He tad zone into tho business withuut the knowledge of the Direet+ ora, It wasn private marter between Baldwin and Nugent, and vo collateral was taken to secure the notes, ‘The Directors never saw or beard of those notes until the reve abaHiol ot Jase taht, “DID MALDWIN. MAKE ANY EXPLANATION of his setion in thus loaning the bank's mon ey without authority and without adequate security?” wasasked, “He said that, about twelve years ago, he begun tu loan the bank's money to Nugent, without cousultlng the President or Direet- ors, Newent was unable to pay. and other Jouns followed. ‘Take a loan of $30,000, fur esxmnple, When de note vecame due, Niue went would pay, say, $15,000 nod then bore vow $40,0W mnore, Ln this way the Indebted- Ness wasconstutly inerensing. Nugent, he suld, kept prowlstng to pay, and putting him off unttt the amount of the defnl- ention reached its present vnormous figures, Baldwin, in his, statement to us, dd not specify the amount of any of tha loans, Nugent, he says, kept tell. Ing him that the bank would do nothing, and In the position In whieh he found himself he wis obliged to tike his word. WHEN THE Tork WAS AnoUT IS NECK, Nagent changed his tone, Me told Baldwin then that, If the matter wag exposed, it would ruin both of them, and that, by carrying the thing on a little longer, they could probably both save themselves, Jt was carried on: until Baldwin saw that the exposure with the coming ot the Bank Exanlner was inevitable, and then he caino to us and made aclean brenst of it” * Do you bellove that the firm of Nugent & Co, has absorbed all the $3,000,000 whieh have been taken fromthe bank??? asked me rue porter, “1 DO NOT NELIEVE A WORD OF IT, and L told Baldwin sv Inst night. Echarged hin with speculating In Wall street with the bank's money, but he dented the charge, aud insisted that the entire $2 or mors chad gone ‘tito that hale over there,’ as he characterized the Nugent establishment, - Lave 9 theory of iny un about the disappearance of this mouuy. Lhaye no doubt that It began with the louns nude to C. Nugent & Co, When these lonus hud mounted up to so Iatke & sii that there was no hops of Baldwin's ree covering the money, whh the expectation of making good fis det iclt. Several people have told mathet he, ! j BY ares I beliove that he wont . . to New York and speculated in Wall street,