The New York Herald Newspaper, July 8, 1854, Page 2

THE LAST WALL 8TRELT SWINDLE. Grotements from Al sorts off soureee—The Kixteme of the Hrand—The Marriage of Hor bert Schayler—Letwr from dst, on Une | Ya connection with the overtssue of stook by Mr. Sobuyler we find that there was ia this case of the New ‘ Company 8 peculiar facility for fraud, Mr. Robert Schuyler C« beth ident an! transfer egent of that company, thus having it in his power to create and traasfer shares at his pleasure, [From the Times.] The Sobuyler fraud completely absorbs attention in | Wall etreet, and, indeed, wo may say outof it Mr. Go- verneur Morris, is reported thir afternoon to be in peou- piary trouble, apd the rumor is that his coptideuce wis abused by Schuyler, The Harlem Railroad Comyaay are alco revere sufferers. He had no such easy access te ther transfer books as to inflict the same character uf loss as upon hir dwn company, but 1 their debtor iv a large eum for the boade of the concern, unaccounted for aud a se- vere thock is thus given to the market value of the stock. It fell to 87 per cent. Railway iron, purchased on c: edie abroad, for certain unfinished roads, in Which be wana ocntractor, has been diverted on arrival here, and pledged for muney or mercantile Paper, to be used for otuer pur- pores. Iu round numbers the sum total of the misspplt- cation of property, as at present ascertained or report: ed, may be thus stated: — 19,000 +hares New Haven stock, fraudulently ed... [from iver } ‘The street is full of romors ae to failures, to which it- ‘attention should en The oule ove having aay Toundation, 0 far a» *@ oan learo is that of the suspea- uverveur Morr consiaered aa a large proye: ‘There are Bo further dinola-urer to the affairs of the New Yor aod New Haveo Railroad | Company. We pubtish below the letter of resigaation of | Mr Rovaee Schuyler as one of 1he boa-d of directors and the stroavest assurances | er sources in which we | lace entire relianoe, that Mr. George L soluyler bat no | nowledge whatever cf the fraudulent traasaotions tm | which Mr. Robert 8. is involves, Whether the funds | reolized by the bypotbecation of the spurious shires ave been ured for the benefit of the receut irmof R & G. L. Schuyler, or for Mz BR. Schuyler's individual sc- count, is pet yet known. The property aad etfeots of the Orm, under date 34 i.stant, have bewn made over to assigness for the bevefit of ail the creditors. MR. ROBERT SOHUYLER'S LETTER OF RESIGNATION. New Yors, July 8, 1854. Guwr.murn—I beg to rerign my seat in tno Board of Threoters of tee New York aud New Haven Railroad C. ‘PAny, ano also of the vfhoe of Presiden’, aa) of the Peintwment of Transfer agent uf the stock of the company. Your attention to tue ewek ledger of your compan, Cssential, a5 you will find there much tha: (s wroug Getaila can be furnished you with precision, thouga I cannot do po. In reference te the connection of these transactions with B axdG L Schuyler, 1 wish to make my solemn meourence ‘hat in vo way bax my brother been cvacerned dm them, vor bas he e-er kuows or deen intormed of them. In fect there as a» mule ia @whioh be could ob- tala information except frum myself, anil bave over Deen quite as careful to keep him in iguorance as. any pared cote He cuuls not even have ascertained the facte Our own bovks and uccoua's, aad to thoae of ‘the New Haven Company in my charge he bas had ao Bocess. Your vbeuivut servaut, KUBERE SCHUYLER. To the Directorsof theN Y &N. 4. R K. the Nations) Democrat.) ‘The fraud committed by Mr overt Schuyler continues to be the great topic of consersation. ‘Insre 1s reason to beliove that he is now tn Csuade. The last that was soon ot him was on Tuesday morning, the 4’b of July, at his sidence in Twenty recund treet, when his brother-in- w, Mr. Bowdoin, left him He vas been heard of # nce pt Saratoga, in the cary bouna for Burl.ngion, Vecmunt, ‘The shock to confidence is not over. Eatly in the day there appeared to be s calmer feeling, but ‘tue further fall of stocks at the afternoon bosra tells a different any +—Harlem closed at 37 FD gene Erie at 58, Reacing at 743%, Cumberiand coal at and Canton st 22, But aes Dod that oe whl bey \ ible sposition property, in no wise implica the fraud, in the ovurse of a few days. The wrong is beyond the hope of full restitution. The wrong door wil probably escape, if he is not alresdy beyond the reach of justice. brother makes, it is said, a ee ee ae the firm. he heaviest loss falls upom the New York and New Haven at rs. The company will have to assume, end then, by purobase or otherwise, cancel the surrepti- fog a Drongine wihbin the’ legally authored cayfal of ing ia it within 1 aut cay pxgglers The pian Ja an after ‘consideration, and whether by i liste loam or the slower provess of a sivking fund, as adopted by the Bank of Kentucky, must be determined by circumstances. The Levis fraud oa that bank involved 13,000 shares, or $1,300,000. The over-issues were assumed and bought up by the bsuk, and the original capital thus made sound. It is posable Schuylee’s effects may pay something worth looking after. It would be almoat ible to conclude that he bas used up $2,805,000, leaving no mark or shagow of representative value, Where be doubtless desigued to take the steamer for (From the xpreas.) fanade. I¢ is reported in the street that Robert Schuyler has At the board of brokers to-day, it was al-o annoanced | fied to Canada, and was seen there a day or two since. Anat he war iv Canada. The day bef re he leit, ou the | It is 34 of July, he and his brother exvouted an sssigument of ailthe property belonging to the trm, as welt as his individual projerty, to Messrs. Bowooin & Barlew, attor- neys, No. 65 Merchaata’ Exchange. Tes assignment, we have bens informed by Mr. Béw: Goin, is made for the benefit of all the creditors without ference, and the assignees have taken possession of property, and #illas soon as possible make a public reportom the condition of tne estat, ite hapiliies and assets. Me, George Schuyler has not seen bis brother since | to see him again.” | rai to the explosion of the re of the firm bei: Schuyiers. It was not, however, expected that to these e y by the large sams arising out of | immense obligations we should have « series of frauds | the by pothecation of the apurivus stock. exposed caloulated to break down confidence, and In consequence of the ass guument of all his property, | ducing its consequence—e large withdrawal of capital | ‘Mr. George =chuy ler has resigned t10 Presidency of the | from enterprises in whose ultimate success tho pablic | Harlem Tailroad Company; in cuasequence of which the | still had strong hopes. The etfect of Mr. Schuyler’s fraud | Directors have been alled logether, aad are now in sea over the coun is yet hardly felt, aud as it spreads it is calculated to retard enterprises and sap the foundation of the little remaining credit at- te rall«ay system as of late carried on. ‘There is remaining too atrong a desire to build more railways, which, we hope, will not be carried out at pre- Prove cofivenient to nuighbur- hoocs, and empioy now capital to advantage; but at this Ume itis advisable that new schemes be held in abey- axce, and even old works suspended where it can ve done witout too great a sacrifice. There must be some ceasation to thece great railway calls before any esaen- tial ease in the money market can be attained, ieedlen: | of pero of the Learns free Com- pany have been enga; morning in sa investigation Bf the atfatra of the company. We understand that there | has been no over-issue of the stock, but that Rubert | Schuyler has misapplicd the of the bonds of the company recently negotiated to the extent of $300,000, ‘The enormity of this man’s doings are unheard of in tne anrals Rrra; Bay a ie Lice! is known we may be for further pements. Tree cosa of the New York end New Haven Rail- read Company, by advertisement {n another column, re- | quests holders of stock in that company to send in their certificates or the numbers thereof, and the number of shares each certificate represents, in order to facilitate the examination now going forward in the stock accounts | of the company. The directors of the company merit | high praise for the prompt manner in which they made tho defalcations of Mr. Schuyler knowa to the public, by which no undue advantage was obtained. Circumstances like these should at no time be kept a secret; and, al- though their publication may 9; and pape jee the public, and for a time impair Sondigence, it is still better that they should be known and widely disseminated. We tust not, however, believe that every budy is disnonest, nor that all stocks are over-issued, or, to use the fashion- able word, diluted. We entertain the belief that our in- stitutions arc generally sound, and hare Proved them- elves euch through panics worse a thousand times than the present. Petbons, without reflection, may throw H their property away at ruinous sacrifices, and it will be well to pause and discriminate as between those stocks which merit the confidence and regard of the com- munity, and those in the hands of mere speculators. ‘We understand that the report public! inthe Atirror, of the failure of Mr. Gouverneur Morris, is untrue. Mr. Morris was pearly all this oy attonding to his duties as one of the directors of the Railroad. This gon j tleman, we learn, is largely liable for some of the debts of the Schuylers, but he is immensely wealthy, ‘and will, no doubt, be able to mect these meats ia full. We understand that the nature of Mr. Sebuyler's af Harlem road _is as follows:—The Harle: sion at Mr. Neleon Rebinson a o! in Wali street. They intend, we learn, for genera! satisfaction, trough no sus- Picion attaches to aay Porang 3 in tne Harlem Compa- ny, in which Mr. Kobert Schuyler has bad no power for the year, to make a thorugh examination into ita | affairs, and to report the result. ‘Oue of the many incidents publicly mentioned in con- nection with the gigautic fraud is, that Mr. Cornelius | ‘Vanderbilt had an interview with mr Rovrt Schuyler subsequently to the announcement of the falluce—olfer- ed him at once a check for $160,000, and tende-ed far ther nasistunce tu the extent of even th oe mitiocs, if necessary, and would carry tre New Heven aad Harlem stocks to jar, if Mr. Robert Schuyler would oaly assure him that ‘ull was right’ To tuia Mr, Rbert Schuyler made no otker reply then shaking his head. No suoh assurance cvuld Le given. The enormity of thi, crime, commi'ted by one of the most aristocratic families, and | of General Sebuyler, of the Revolution, has Produced a shock in financial circles from which the Gountry will not soon recover. {Frou the Journal of Commerce.) ‘There is nothing new in regard to tho must exciting = topic in Wall street—the over issues of New York and New Haven Railroad awck. Che company to which we alluded this morning as having probably suffered to some extent fn {hocame way, a8 the New York and New Ha- ‘yon, was the Naugatuck, for which Mr. Robert Schayler leo transfer agent, and we now have it from reli- able autbority that our suspicions were correct, al- | though the over issue, as far as yot traced, is only a lit- the over $20,000 Messrs R. & G. L. sonuyler executed an asesigument, dated Moniay, July 3, to Mesara. Richara M. Blatchford, George ft! J. Bowdoln and Samuel ‘L. M. Bartow, providing that the assets are to be regu- | Inrly divided’smong the copartuership creditors. The | abilities, inci the claim of the New York and New Haven Company, wi oe am ouut to avoat $5,000,- O00, white it is doubtful if the present vatue of the en- tire assets amount to $500,000, or sufficient to pay ten ents on the dollar! As far a3 now known, thece is 00 over issue of the Harlem stock, but an indebtedness to that company ina more legitimate form of about $109,000. ‘There ar@ many inquiries asto what has beea done with missing funds; but we think matter is eas-ly ex- plained. Mr. R. Schuyler was not addicted to extravagance or vicious indulgence of any sort, and the fund: appesr to hhave been sunk in bona fide railroad expenses. The Ver- mont Road, with which he was ideutified, sunk sbout $360,000 in stock, decides a heavy depreciation in bonds. ‘The Saratega was also a bed speculatioa; and many of the western roads have hardly been more fortunate. At time that one of our cotemporaries mvie au extrava- estimate as to the total oi F F eH i i ! ‘the usury laws, which, by restricting the rate of usance | for money in regular business transactious, induced capi- | [From the Mirror.) talists to resort to methods of evasion, one of the most | we learn froma reliable souree that Gouverneur Mor- obvious of which was that under consideration. When | failed, 1 the official table was afterwards pubilahed, which pur. | 1i2,basfailed, in pas Get ee Ported to give the amount of stocks and bonds $100,060, the paper for which matures to day, and witch abroad, and made the total far leva than generally catl- | he couldtnot mest. He held the fraudulent stock lseuee | mated, many asked, with some wonder, Who, then, | secollateral. He will makean a ana wuersa. | has contributed the capital?” Part of the answer is now | torw hope that his large estate will enatle him to moet | furnished: Here is $4,500,000 to be aided to the stocks | Si his lebilities. | Egle =g vately ralted away by those who have been Charles 7. Shelton, President of the Empire 8tone Drese- | Tat eddiden to the duticiensien noted above, wo believe | {ng, company, men et smenis. for nis heal yok fond ‘that a very few sbares—suy a dozen, or theresboute—in another company, may have been illegally issued and hypothecated as security for money borrowed; but this | is of little account, and, we understand, will be returned. | | . is One of the saddest features of the whole transaction is | market, ha ‘sold " tho ruin it will upon a few of those most deeply | oper pip Perty he pony ny goed ong pany have been tion of involved amoug Mr. Schuyler’s friends, and the trouble ‘it will cause to some innocent holders of the stock, whose finished, fairs of the company. We that there has | | ‘deen no over-issue of ae stock, but that Robert | ler has misapplied of the bonds plex der means of living will thua be dimi in error in naming Me. Bowdoln , recently negotiated to the extent of $900,000. | | ‘de an illustration of the loose way of doing things in | the Harlem company, « friend of ours who held a oon- An ove: paper asa beother in-taw of Mr. Robert Schuyler. There is no Telationship between them. Mr. George L. Schuyler, who is not in the least implicated in these transactions, and Mr. Bowdoin, we believe, married sisters. Mr. Robt. Schuyler is thought to be in Canada. trol of 1,800 abares of stock, attended the late {From the Tribune.) | for the purpose of . On arriving at the office fire ‘Tho effect of the Schuyler devolo;ement Is still severely | minutes after the time at which the mecting was c: felt im the stock market. The feeling of insecurity In re- | he wns coolly told that ‘‘ his stock had been voted on.” to stock isaues, which will probably soon wear away, | It seems that an old ‘pro: driven some timid boiders to sell stocks indiscrit ago had been preserved and used on mately, while there has also been produced s stagnation | thus the elections have beon carried just as the among buyers, who prefer to atend still a few days. | wire-pulleradirected. We now predict a different anda bet- Under this state of fecling the market naturally drops, | ter stato of things for the Harlem. There will bea reaction whea, without this new disturbing element, th» newafrom in the stock unless the gata of funds has , combined with the improve condition of our been much larger than is reported. , Would bave undoubtedly caused a very buoyant | We know two young men, railroad contractors, whe | market., This feeling, almost approaching panic, which | wished to obtain credit, and, to that end, associated | ‘ovails is, however, somewhat unreasonable, for al- | themselves with Mr. 8., paying him a bonus for the use Prough the'fraud of Mr. Schuylor is one justly calculated | of his name as a copartner. They purchased in Eog- fodisturd seriously the public confidence in officers of , land over $100,000 worth of iron for a Western road, forporations, yet it must be couceded that the vast ma- | which arrived atter the close of navigation last winter, tnt cf mankind are honest, and that those Ge js. Soa and was consequently detained hero. Mr. 8. readily ob- Jrples of dishon-sty are the more marked and shocking | teincd ther consent to bypothceate it to raise monoy for “om their iufrequency. his own use. It now turns out that he sold the fron, Mr. Gouverneur Morris, who has been largely connected | they can got no trace of it. They are thus loft in t ith Messrs. R. & G. L. Schuyler in their various railroad | lurch for the whole amount of the Purchase money. Interprises, avd who hind indorsed a large amount of the | R paper of that house, allowed some of such paper to go to [From the Commercial Advertisor.} rotect to-day. In view of the developments of the last | 4 et was in circulation y:st-rday that Mr. Gouver- y or two, Mr. Morris has deemed it pradent to suspend | D¢ur Morrishad failed. Ae we understand it, such is not ment on this sceommodation paper until he eanascer- | the case, though pnet it in stated, waa refased to Tito what extout ho is lavolved. His own obligations, | sme paper wich he had loaned to the failing Gm. The we understand, he will continue to pay, and he expresses | motive of the refusal, however, waa not to dispute the the opinion that he has abundant means to discharge | Payment of anything fot which Mr. Morris is either le- evectoally all just claims upon him and havea large | sally or ly bound, but to ascertain precively in = . what Forition he standa fn tho matter, and to assure po oap Be is full of rumors to-day ta regard to Mr, | himeelf that what he is called to meot is in each instance Bebuyler's affairs. One story is scarcely run dowa and | his own genuine paper. true or false before five others takes its place, | The eflcet of this failure has had « most lamentable rumor is, that a small over insue—some few hua. | *Hect upon the rally. All kinds Gred ehares—of the stock of the Naugatuck and Canal | 9 4 paralysed under its influence. Notwi Reads bes been discovered; the very favorable change in money sffaire within the Gemect with Mr. Schuyler, Commodore Vanderbilt btm one hundred thousand bei meat oa the late issue of Harlem Bonde subsoribed for by him, which money was not aceon eee i another is, that Com: ,, Sets ler any necessary ald if there was no obstacle save want that Mr. Schuyler has ‘been seen on his way to Canada. ‘we know he was in town very M! } ~ tJ most intimate friends have we understand calle admittance to on the plea that he was too ill to see eay ome. On , after the discovery of the fraad, Mr. AS Bebo; resigned all his a vat rafireeds, made an assigaueat ita Sih Harton have een have been in session eae found their affairs bo 000 of the Albany have, we are told, beom re issued by Mr. Schuyler | tion. They reported leat evening afterhaving been sarrendered for stook. The company | an ‘btedness of , to the company from Mr. Caution the public negotiating those cortificates. | Robert Schuyler, who haa misused ihe bonds of the com- ‘The over issues of tho New Haven stosk commenced in | pany. | October lest, and was it, doudtieas, adopted merely | This does not include the instalment of $200,000 due | 4. temporary expedient, but tne deprossion of railcond | by Mr. Cornelius Vanderbilt as instalmout to the Har- | ‘interests, whioh has since occurred, not oale p. ed Jem Railroad, which Mr. Robert Schuyler retained for recovery from that first falee step, bat forced a contina. | his own ure, asit will be paid to the company by Mr, } ance until recovery became utterly hopeless. Wuat has | Vanderbilt, who is aaid to be covered in this special become of the vast amount of money obtained by Mr. matier. } ise matver of consi curiosity in she It will be recollected that Mr. Robert Schuyler sab- | We think it will bo fowud that extra iuterest Las | scribed as agent for Me. Vanderbilt, who expressed him. up alarge amount of it—that the Vermont | self as baving how more confidence in him thaa in any end the Wasuington ani Saratoga roads uset a other maa, and trosted bin with money freely @ithoat | farge portion, and that the generous alt exten security | ineereral of bis friends in their days of wnsacialen Cons the-very ba! meaner Fill be foucd to have beoa recyexpeanvste | conde ant Lit } temptations which exist for speculations of afl kinds, the exceptions to the custom of honest practices ace not 0 t. = books of the Hsriem je | wtrok, which were kept by Mr. Robert Schuyler, have get yot beemexamiue), bot wil be ew forthwith; und the creqm'ttes will make & Tevort na noon us they have completed their lebors. ‘The directors of the New Haves road are still preceeding with their examination. It the over issue ot stook in the Herlom company should prose fo be kmitod to the 1,000 shares, th: loss to the company will be unimportant. At the Board of Brokers this morning {t waa resolved to ‘over Herlem stock, the trunsfer books having besa clon é by the dir-cturs of ube company, until the exami. pation Bow proceedirg & over. ROBERT SULUYLEN'S MARRIAGE, {From tho Kvening Post, July 6} Paw matter eh oneness mien shed of thie rs t ud, everything pertaining 0 pest history of Mr. Rubert Sebuyler is cetzod wpon with great avidity. The matior of bis secret marriage is much lincussed is was unknown to a majority of people until since the (adure. Mr. Sebuyler had been liviug as & bachelor, and was sup- to bea bechelor until s few months aiace, it was Simovered that be had Geto grivatele’tmarcied mesg. years previous, and had a family of children, one or twe of whom had grown up aad got married. They hedges a under the name of Spicer, Mr Sohayler’s ox War that he caw a pretty girl with whom he love; she was poor aud be knew his fa would object to the ma‘ch; so be married her priv and never divulged the secret. A CARD FROM MRS. ROBERT SOHUYLER. TO THE EDITOR OF THE MEW YORK TRIBCRR, Sir—I beg a small panes Sy columns to refutes story that appeared in last o private life and marriage of Mr. ‘not hese speak of the indelicacy and ruthlessexss of the hand, that at this critical juncture would tear adds the sacred veil of demestin peivnatratie weapentnure meney will at once perceive the truth—nor w: There ander. take to defend one, too iil to defend himesf. To time aad toa just God do I commit the vindication ef my hus- band’s honor 3 But as otber stories may spring from the ssmé rource that sted this marri romance, I would here pro- Bounce it alla fabrication. ibe “pour giri’s” family Waa as respectable and wealtby as Mr. Schuyler’s own, and they were aiready connected by marriage. ‘The name of Spicer—by which the family was 6o loi known, was the vame of w near ‘and dear relative who the Dequeatbed it to the “poor girl’? with 7, which alone remains to provide for the wi of her children and dying husband. ‘Will the Evening Post copy this communication in cor- HS Se “ea ROBERT SCHUYLER, West Twenty second street. ——_—_—_—_—_—_———— FINANCIAL AND COMMERCIAL. MONEY MARKET. Faapar, July 1—6 P. M. ‘The panis to-day in Wall street exceeded that of any | ope previous since the grand developements commenced. ‘The defalcations and over-issues of stock in the Now Ha- ‘Yon, as enormous as they were and as startling as they ap- peared, bad net such an effect upon the stook market as the details of Schuyler’s operations, whidh are gradually leaking out. The aanouncement to-day that there had | been an over-issue of stock in the Harlem Railroad Com- pany, both in the old and preferred stock, although com- paratively toa small amount, hed a greater and more ‘unfavorable effect upon the market value of other stock securities, than the over-issue in New Haven had when first known. Confidence has been more shaken by these Gisclosures than by any event which has previously oo- curred within the history of the country. There has never before been anything like it, and where it will stop, noone can tell. The effect already upon public credit bas been moat disastrous, and we shall not see the end of it fora long time, Stockholders ia every com- pany are fearful something is wrong, and the desire to realize is rapidly extending. Tho fall in stocks to-day shows the feeling that exists, and every day seems to add more fuel to the fire. Holders of stock securities are afraid to investigate the affairs of the companies in which they are interested, and appear disposed to remain in the dark upon the principle that, ‘‘where ignorance is bliss, ’tis folly to be wise.” To avoid all contin- gencies, and to be free from the doubts and fears that exist relative to allsuch investments, many are reall- ting at the depreciation, and placing the proceeds out of the reach of such swindlers as Schuyler. ‘Holders of fancy stock do not know at what moment all their property may prove to be worthless. They may go to bed believing themselves in the possession of enough of this world’s goods tokeep away want orto sustain them comfortably, and they may wake up in the morn- ing beggars, without a cont to pay for their breakfast.” ‘We have always had but one opinion regarding fancy stocks, and that we have no frequently expressed that it is hardly necessary to repeat it here. We never hadany faith in them, and our confidence in stock securities of all kinds deca not amount to much. We de not believe in investments the value of which depends upon the hevor and honesty of any man. We do not believe in the infallibility of any man, and would not, therefore, yuttoo much trust in mankind generally. It is true that it is only occasionally a man like Robert Schuyler springs up in any community; but when they do appear, they spread ruin and devastation in their course. Such aman in an age is enough for any city or country, and we hope it will be an age before another appears. ‘Ibe announcement this morring that there had been an over-issue of stock of the Harlem Ratlroad Company, and that the Secretary, Mr. Kyle, was implicated in the affair, created an excitement as intense as that caused by the first exposé. The board of brokers immediately erased the stock from the books, and prohibited all opera- { tions in it at the board. Coming so soon after thatof the New Haven Company, the public were appalledand shocked to a greater extent than we have ever before known in our long experience. It is reported that the over-iseue in Harlem, of both old and preferred stock, will amount to upwards of four thousand shares. The par value of the of the Harlem is fifty dollars per share. This over-issue of stock, tue purloined extension Ddonda, and the sssets of the company disposed of or not | accounted for by Robert Schuyler, involyes a sum of upwards of half s million of dollars, This {a the most favorable figure, and the probavility is that it will largely exceed that amount. Im these things the first report is never exaggerated. Investigations | will without doubt bring out more facts, and the result | may be perfectly astounding. The public mind is at this moment prepared for almost anything in the way of fraud and embezzlement. At firs: the community was paralyzed. No one seemedfto comprehend the extent cf the swindle, or the effect upon private and public credit. It now rushes upom us with crushing foree, ana the most gloomy feelings exist. The greatest sacrifices have deen submitted to, in the sale of fancy stocks, by out- side parties, fearful that a total loss would follow holding any longer. Prices have depreciated, and it is not im- possible but that much lower points will be touched. Tt is stated that there has been an over-issue in the stock of the Neugatuck Railroad Company, of which Robert Schuyler was transfer agent. About thirty thousand dollars have already been discovered, and it is not known to wha! extent it hes been carried, The Farmington Canal Road, known as tne New Haven and Northampton Railroad Company, have also come in for & portion of Schuyler’s financiering favors. The amount reported is small, and it may not be large, as the stock wever posseased much market value, and was not there- fore easily negotiated. Mr. Schuyler appears to have distributed his fraudulent acts not only liberally, bay pretty equally, among his favorite roads. The New Haven Company enjoying the highest credit, came in for the largest share. It is not at all improbable but that there are many heavy frauds yet unknown. Every day will doubtless bring something to light, and the aggre- Gay of July, 1872, io the manner and from the fan‘ in anid indesture deciaret, together with interest thereon et the rate of seven per centum persanum on the frst day of every January and July the date hereof, upon pre-eo'ation of the int warracts hereto an- ered, a8 the same severally dae, st the offlos of the New York aut Herlem Ra lraga ay, ia the city of New York, ncow ing to the provisions of the atore gnin trust decd. In witness whereof the New York ant Harlem Railroad Company. by revolution of toe Soar! of Direetors, paased on the tenth aay of September, 1459, have exuned these presects to be sealed with thelr 20rp0- rave seal, and xigoed by their President, and sald trustess have also hereunto set their hends this fifet day of Ov tober, 1650. ROBERT SCHUYLER, Presideat. (Ls |} Countersigued, & Knxpp, Alex. H. Holley, Mor- ris Ketchum, Trustees. Tt will be seen trat these bonds are nota part of tho mortgage bonas of the comvany. ‘ SAML. M. BLATCHFORD, ‘Treasarer. ‘The lisbility on the part of the Harlem Railroad Com. pany for the amount of these bonds, is « question that must be hereafter determined. They were stolea by Schuyler from the company after being cancelled by sa denne of stock, and the company will probably put it upon that groand. A great deal of treable and difisulty will grow out of this affair. Many quoations will arise of fan important character, which can only be esottled by our courts, amd endless litigation will probably bo the result. We are just entering upo: the beginning, and very few of the parties immediately concerned will tive long enough to see the end. ‘The Empire Stone Dressing Company has been operated upon by its President, to the tune of about one hundred thousand dollars. The fraud was perpetrated ia the ‘modern way, by an over-issue of stook. Tho name of this Gaanocier is Charles f. Shelton. How much more the company has been taken in for, has not yet been de- termined; out the amount already known Las made the tock. worthless. The times are sadly out of Joint, and eppears to be no end to tho villany and Fascality of tne age. It may be interesting to the pub- Mo vosee at a giauce the extent of the recent frauds {a the shape of over-issues of stock, &c. New York and New Haven Railroad Ce...... $1,900,000 New York and Harlem Railroad Co., stock, Dunds, We...... +005 +. 600,000 Naugatuck Railroad Co. 80,000 New Haven aad Nurthamptos: 20,09) Parker Vein Coal Cu.... 7,600,000 Vermont Central Railroad 1,300,000 Empire Stone Dressing Co x Total.. $11,360,000 In waking we have put down the stock over-issued at ite par value. The present market value is considerably below the amount samed, as each stock hhas been largely depreciated by the great quantity put on the street by the parties making the over-issus. The sum extracted from the community by these frauds con- siderably exceeds that of any previous awindle practised in any seotion of the Union; and of the half-dozea inil- viduals concerned, we venture to ssy that mo one will over be arrested, or called to an account in any criminal court of the country. It is this defect in our criminal code that causes all these robberies. If there had been @ proper remedy provided by the Legislature, we should not be called upon to record se often those ener. mous defalcations. They are mow practised with impunity, and the perpetrators generally manage to s0- oure enough out of the wreck to live sumptuously upon durirg theremainder of thelr miserable lives. If men holding high offices of trust will not act honestly from principle, they must be made to do so by the strong arm of thelaw. They must be compelled to be honest, from the fear of the consequences if they do otherwise, It would be utterly impossible to transact business without trusting to the honor and honcaty of each other, Con. fidence is the very basis of all commercial intercourse, and we cannot get along without it. We mast trast each other, and a breach of that trust should be visited with the severest penalties. It is not impossible to guard against the ingenuity and daring of the burglar. Wehare some chance with a highwayman, if properly armed; and we are on our guard against a known swindler; but it in entirely beyond the reach of human foresight to proiect. ourselves from the dishonest doingsf those who have onr full confidence—of those who by their previous fidel- ity have secured places of great 5 iy, and abuse the confidence they enjoy. It may bedifficult to reach ‘this peculiar crime by legislation, and provide « preven- tive, but we hope an effort will be made to secure the enactment of such laws ag will protect the community from the peculations ef those entrusted with the pro- perty of all classes, without any security for its preser- vation but their individual honesty. We hope this evi will be attended with some good. The effect of the disclosures made within the past woek upon the market value of some of the leading stocks has deen very disastrous, as will be seen by tho annexed statement :— Railroad bi Central Railroad. 95 88 7 & Toledo RR... 863¢ 82 4x ‘We have selected the leading railroad stocks on this market as the best illustration of the effect of the move- ments going on in certain securities of that class. When ‘we Sgure up thie depreciation on the immense capitals of the companies named, we can form a pretty good idea of ‘the losses the community have sustained, and the effect upon the credit of all such incorporations, both at home andabroad. Ifthe companies directly concerned had ‘been the only sufferers, it would not lisve been s0 bad; but it could not stop there. There is not a stockholder in any railroad company in the country who will not uffer more or leas, in a pecuniary way, from the acts of Schuyler and other scoundrels of the same stripe. Al- most every man is interested in this affair, and it has created a feeling that will, we trust, bring about a more wholesome state of things. At the first board to-day there wae a general desire to realize, and the transactions were unusually large, at a | Great decline in prices. Illinois Central Bonds fell off 1 | percent; Canton Co., 154; N.J.Zine, 14; Nicaragua Transit, | 134; Cumberland Coal, 2; Gold Hill, %; New York Cea- tral Rafiroad, 34; Erie Raflroad, 23;; Reading Railroad, | SEOOND BO: 100 sha Del & H Ci Co 109: by do.. 109! 200 Borris C 12 1000 Gold Hilt Mine. 16 N Jer Zine Co.... 260 Nic Transit estore pearls, 00 1 jor , per 100 Ibs. Bugabstv Ly ther kinds at pro; ‘oeu o2 ; i ealee moderate. —The market ne di 2 BG ‘were steady, i 2 z E Cotton % 5 5 was at | : Be es EH | feot it 8 3060, per 824. To London, Se A vessel was at St. Johns, for Dublin, lumber for Buenos Ayres at $1! wasat Sc. There was no alteration to notice ia for California, wuich were rather dall at 4Uc. & 5c. OITY CBADE RBPOK*, Famay, July 1-6 P. M were in slack request st $581%¢ for pots, and portionate bbls. superfine Conadinn, in bond, 000 bbls. Southern at former figures, aud at$376 Wheat was more active at re- day’s business iucioded 5 000 te $2 0 $2 05; 3,000 Cana- ; 2,290 smate an y¥78 —Flour was in improved deman4, but st easier rates. The day's sales resohed 9,20) bots : iafe- rior State at $5 75 2 $612%; ordinary to choice di $6 60 » $7 60; mixed to fancy Western, at $7 a 38, aod salve wore reported at $7 4 BT 3736; Sou bbls Jee. da do. BA OS Pa RIELELSReeae: t $1 20; request at Stic. a 580. the receipt of private before doing much, while prices witu sales of 60 j and 260 mats Java at 13Xo. by but engagements were wary malting the reoelpt of private 1ot America. 10,000 bushels wheat were a at 7d, in ship’s nage; and 2,000 a Ae, bla. flower were | and for duur at 26; aod another 2. To Havee, - icc atl rorata ty made at 700. The mar- was ite. rs Bom Soe inguiy for last year’s was limited, at 260. Inpta Ruseme.—Sales of 15,000 t bs. were made on pri- vate terms. Laxp was ed for Galena. was but holders were firm, and 7c. was ask- pominal. ‘Lum—Rockiand continued inactive at 87 3¢c. for com mon, and $1 26 for lump, per bbl. Latas were in demand ‘at $2 per thousand. Mi ‘were made of 250 bbls. vate terms, Navat Stomme—The 1 70 per 81u0 ‘O1s—Whale and sperm were transpired of 2(0 bbls. olive at Geller Hnened at Buc. a 610. per and 72 hbds. Cuba Musco: sales inciuded wade at ic. 500 bbls. spirita tur- tine at 450. a 46c., and 1,000 bbls common rosin at Pounds. Be and STK ow gala. still cheaper. The Provimora.—Pork was sales sisted of 2,600 bbis., manly mess, at $11 373, at $11 50, les were effectea of 200 cut meats, at former rates; 600 bbls. lard, at 9c, a 9 Ib., and 250 bbls. cheese with some prime at $10. chiefly at 9340.0 93¢9., per previous quotations. Butter quest and firm. Ricz —Small rales were Svaars were in fair Soest 3.138 jexas, on private-terms. ‘Suaans.—There were vate terms. and wore in bt at $1 6736, but generally held on pri. Sty and 6,000 Notning aw cis keg’ < fj at fair re- at $3 60.0 $4 8736 juest, with sales of 150 New Cuba at 40. 8 63¢0.; and 16,000 Havanas purchased on pri- aipeatiney tenpicbed asale of 47 tierces prime, at ic. & c., per ib. Heucoo-satout 60 bhde, Kentacky tobacoo were sold ee tagaation still peratte ta th rf 19 confidence in the Elatensass of the present rates, and farmers are yet un ‘00L.—A Dealers have ral «i L0c,, for the lew offers made them. They will have Rochelle bran: Pe torand 20 do, Prices are still declining. Arty eg ay al H . casks pure iy at 8100. van 210. per export. trade, There have been 450 bbls, Jersey, Ohio, and at 266. we Our Family Market Psice Carrent. ‘There issome change in the prices of marketing this ‘week. Beef remains firm, but pork has fallen a penny per pound. Fish has elso takena slight fall. Shad have had their run, and have gone out of the market. Mack- erel also aredone with. Game has gone up a little, and poultry, notwithstanding the warm weather, remains at winter prices. This is accounted for by the fact that country men are now engaged with farming and harvest- ing, and have no time to devote to market affairs. Pota- toes are plenty, and have fallen from one to two dollars por barrel. Peas and vegetables have also gone down to reasonable prices. Strawberries are done with, and the last of the season been disposed of. Their place has been supplied with whortleberries, blackberries, and rasp- berries. Whortleberries are selling at five dollars per bushel, and eighteen cents per quart. Blackberries are selling for four to five dollars per hundred baskets, and raspberries at six toseven dollars per hundred bas- kets. There are some cherries in market, but hardly enough to speak of. The markets are now in a nice clean condition, and everything looks well and healthy. 1; Hudson Railroad, 5; Michigan Central Railroad, 33;; | Lambe. Cleveland and Toledo Railroad, 35g. At the second board the market was still more depressed. Cumberland fell off to 3134 per cent, and closed at an advance of 1 per cent on prices current at the first board. Nicaragua declined 1 per cent; Hudson Railroad, 1; Canton, <; Erie Railroad, 2. The last offer to sell Erie was at 52%, and mo bids. Two failures were reported to-day at the board, both, we believe for a large amount. Itisa matter of astonish- ment that there have not been adozem. The losses on stocks have been immense. We understand that there is a large amount of bonds of the Illinois Central Railroad Company afloat, with the October coupon cut off. This may be all right, but it looks very strange. It has given rise to suspicions that they have not been legally or properly issued. Why the October coupon should be cut off so many months before maturity, isa mystery we should like to sce explained. Mr. Gouverneur Morris has only permitted his eadorse- ments on R. & G. L. Schuyler’s paper to be protested in consequence of the pecullar position of the affairs of that concern, Hisown paper is properly provided for at ma- turity, We have received the report of the Nicaragua Transit Company for the six months ending July 1, 1454. The net earnings of the steamers of the line smounted to $824,064 93 ; the exponditures, including $201,054 for new steamers, insurance $29,578, bills ble 40,921, aroounted te $853,000-—leaving, the es tosome of the company, at the close of the last six months, $441,194 39 —tqual to six per cent om the ou! capital. It gate can, im our opinion, be put down at double the | iherefore appears that, alter paying ‘the dividends just smount already known. For tho purpose of getting to | ceclured, there will be per cent still in hand. the bottom of this unpleasant business, atthe earliest Stock # moment, the management of two of the companies in. FripaY, July 7, 1854. volved have issued the following notices :-— $1000 US 6's, 200 Gold Hili Mine, 3 NEW YORK AND NEW HAVEN BAILROAD COMPANY, | 2008 NYork - NO. 2 HANOVER STREET. Fate ‘TreasuRer’s DEPARTMENT, 6500 NY Cen New Yonx, Jaly 6, 1954. Seed Foun Ca Co In order to facilitate an examination now being made | 50 un. Dns Bx..b3 107 ittee of the Bpard of Directors of com- i ecotints, all persons holding certia- 10 Am Exe Bank... 103 company are specially requestel to 5 owe Bink, ae at Thea, 90 | oe ‘the same may be Persons re- 5 Bt Nicholas who cannot conveniently present or 200 Canton Co. Tequested to communicate 300 b fot shares for yhick i parports | 208 for wi by whom issued. By order of | 200 WM. BEMENT, Treasarer. 225 NJ AND HARLEM RAILROAD COMPANY. 100 are hereby notified | 100 Nic taiently sd by Rabert Babee, | 20 ry y » | £00 loned against negotiating the | 260 1 been stoppeds—=Nos. | 500 1 ., 431 to 443 do., and 261, | coo 1,000 to 1,098 do., 658 to 641 do, and 728, 1,001 to 1,004 | exo 4o., 300 to 304 do., and 332, cach certificate being for | 90 Penn $1,000, making in all $40,000. £50Cumb Albany Extension of the New York and Harlem Rail- | 640 road Company, No. — $1,000. This cortifies that Gourer | [0 peur Morris, Sidney G. Miller, and George L. Schuyler, | 60 for the construction of the Albany Extension, are oa- | 200 titled toan undivided interest of ovo thou dollars, | 150 in the sum of (wo millions of dollars, secured by a certela | 100 ced of trust, thereby declared to be a part and parcel of | 2°0 thie certificate, as if recited herein, made by the New | 600 ‘ Yerk and Harlem Railroad Company of the first part, | 100 111 C, © & Cin RR... 10435 Shepard Knopp, Alexander i. Holey, and Morrie Keteh- | 250 10 Clev & Tou RR... 82 wm of the second part, and the suid’ Morris, Miller, and | 1@ 60 Flor & Kpt Coo 6% Schuyler of the third part, deted toe tuirty-Grat day of | 100 100 de veo hy 9. Alea, that the eal ' av ne thoadaad | £00 a | ble te them of their « ne the first | 100 . . King tish, per 1d... Blue and weak fish, per ib. Sea basa, per lb. GAME. Birds.—English entre, per dosen..... Btall fed per doz., chickens, pair. id ‘sigeons, par doren Robbin Snipe, Doewnch sni Guinea fowls, per pair. Equabe, (lame) per di HOUSER Spinnach.—Per bushel, Pumpkins.—Per Ib... Tomatoes.—Quart cans. Peas.—Per bhi .. Beans.—per bbi.. mueceéeriesweascacey Sol REET eocHoeccacscococoSoCSeCese CoceoeoHaoccecoeo-1Cecco0® x SheasacWeessssrsessorsae POPE PEEP EEF E ES Peo DFP EPSP EO eDe SResssSeeeesas x RR Ps PS PPPOE OED POPE PEP PE SSE T EOD EP EEE ED SPP EPP LOPE EES > OEE EE PEP EDD SRSRSSESSSSSTSS SSSSRSSSSER x seusesazess3ss" BSSSSSrs BSsESasR * s . a 2 ® s a ry a ry Y * % 8 a8 STK & 6 68 oO 8 Domestic Markets. ly £, 1854.—At market Caxsamncr Cotte Marcuse. all beer A no stores— ‘My ypepclings ccooeocoS Esssrsusssrsessessessesatss x « eccowpoe@ooco e x RBSSSSSSSSSESSSsssesss S SARSSsasssaussssoaesssss 588 i wx ¥ eaeac® cocceoco COMM MOONE OCOMM EM COOHOONHMMoSSC COC COeeCCCOSC' SSS3S3 SEEKSS. Haogooseeane SS382E3SS33E tia twe and lf | bathing jet beef, extra, at $9 0; 2d do $1 768 $8; 34 do, 8 95 50 per owt ; tallow, ‘Ko.; onlf skins, ihe. per ) Wortlog oxen, DO salos; cues giclee, OF two years ol, $58 636! three wid, 8 ad tacos, at carkes, Pricce—elten, S100 Gir by wt gr esa’ F Buscr70n CaTras MARKET —Thuraday, July 6.—At moe. ket 1,COr beefraitle, no stores, pairs Warkiag oxen 8® cows and calves, 1,000 sheep Lemos. and 410 avian, ‘The following were the prices —Bert cattle, Ist quality $6 60; 25 do. $8; Sd de $775; ordioney, $760. Hits, 86 aS 5! per ewt 5 tull ww, EPs, Ste. 0 80, calfekins, 35¢. por lb.; veal calves, $8; workiag oxen, ve sales. ADVERTISEMENTS RENEWED EVERY vat en are apd calves, $22 ROADWAY —TO LET, THE PREMIAES 618 SROAD- way avitedle fora fa*niture tall: or other bast fret, besides and baving three roum,, enok 33 by and fourth floor. BR. te J4MRS PRICE, 90 Hadson street. th Brocdwag, OTICE TO BOATMEN.—THE LEHIGH COAL AYD ter of wucmoloped Davisaticn Co have a boats, which will bo rented sbe te Seat wel bepiven tb set raw of freight. 1 Ro 212 Broadwe: inteadent, Mavok C! LET-STORE AD LWBILING street of the ature and besement would be let separa Suitable for apy lithe buriness, aad ino geee lesati, Apply io JaMES PRICK, 200 Huseon otecet. T—A HOUSE ee, Fituated on LET—T0 4 SMALL GRENTEEL goon’ floer of houes.s0 Il Ni ore atreat ting of frome and beck pertor, hall redroom end kit tea room and thive panties Apply immediately. LET-IN THE NEW BUILDING WO rtreet, « inrge store, euitable for ony kind Pi roses; also, # shop inthe same building. App. pr lees, peru 2 Sactrenpectenaien ne tla gp OD ah and voretapion, ke. hs, Loce-ism Boaltey. access by ss day, oad » Count Oftoe. ’ z STO! RE NO. 90 VEORY STREE®, u epee Pat, mo oN eae oserehion oan be bad immediat sy. Appy to Peter Lyach, Neo 41 Vesey street. nig LET—WHOLE OR HALY HOUSES OR FLOORS, Pleasantly located on Marrsy Hl. Beosdeay, thie. shire, fourth and Forty-third streets between Seventh and Bighth avenuee Lexie fy Thirty ret avd Thirey eedond etrscts, om Forty third street. eversl stores on arcnaes end Broadway FO*LAK & FSASKLYA, 7 fbichy- fifth street, near Brosdway. TS LET—THR UPPER PART OF HOUSE NO. 1s Laight otrect, together with a basement to ront tee eultabdle temas. Fur terme, do, appiyen the p-emises. Tar veatcernoees grvaneT, Corr see within o Tow Ginutes walk or the «epot with fine view, apply to JUBN Ww. HAMBRSLAY, No. 5 Nassan ctrest, or tod. W KUBINSON. Sing Sing. ¥ (PO LET 4 TUNR@EED NOON, FULTABLE FOR or twe pingle gentlexet iteWage svrect, ves? Gracd” ia 1 VOR A TESM OF TEARS A T? LB? OR LEASE F TEARS, hendsomety furnished, con oo yea oben; butt, with all modern imp ov«meats le on order, the premises 188 West Thareleeh, street, borwoon tbe Liuure of 10'and 12 M. vg LET FOR THE SOM+ER—A DELIGHTFUL REM- dence in ated be 7, tte iu, Soe EACabiec Spa be Saat saa ad jalan eect” cats Meade anche Toquirecf br. HUITUN, grocer, ‘Oithkatorre “dopet, toe George F. ‘Turfier, the T ON STATEN WD-AONEAT, OENT: LET ON OTATEN TSUAND—A-NEAT, OENTSEG two story ing. ot Port wlan’ os walk of tho tei re: ond & very rable resid A to Wm. BL 14 Cor. Epes, tel smn LBT.AT FORT HAMILTON=TWO SMAL! tages beautifully situates within minates wals 06 the steamboat landing. Also, a large now house near iabed, (wilt be r-ady tm tvo 6 ‘en the bay commanding & view oncurpeceed in theharvere? ‘Now York, more erlang sitcativn for « pentionse cannot be feued. Fort Hamilton. preg jt — ‘ALUABLE WATER FRONT PROPERTY TO Viz Jags, on the North river— The northerly ball oftas ey an 100 by 300 feck, alrenay laid oREEee FURMAN & CO., 100 North Moore street, . THORNE, & No. 129 Fulton ettests eliaing hoo ‘well iLiestr ash — Bpring- re inptit et SP ree mabbes anh sethers Dates on im} oe ine book by this. desirous of Also s cottage to Ss BATHING — Branch, ew : the onsen SER eee re. Commuticat A.M. and quarter to 4 o'clock iM arrive in New York Si A M and 3% F. STELLENWERP, Lnlip, Suffstk county, "i fe r bt. Thi will be te 0