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An IntUtnuon «o Hwmdle E oil a rantsNew York, July 8.—At a meeting of the Emigrant Commissioners to-day Commissioner Stephenson produced a German paper published in Ohio and called attention to an advertisement in it of the American Emigrant Company, 30 State Street, New York, 1\ O. box 1040, U. Jeanson, agent. The advertisement solicited deposits of savings and offered to transact all kinds of financial business. The Commissioner said his attention had been called to the case of au emigrant who had deposited £2,000 with the company, and who, when he asked for his money, received only nart in cash and the rest in Missouri bonds. The Commissioner called at the office of the company and when he asked for the President a man named Warner presented himself. lie afterwards said he was not the President. but only manager. This man said that up to December last the institution was known as the American Emigrant Company of Hartford, Conn At that time Mr. Bartliolmew, who had charge of its business skipped out with the assets and the concern was boughta J C. Savery and James Callamui. r. Savery subsequently told him, the Commissioner said, that the company had a charter, but diligent search failed to show any record of it. Mr. Savery admitted that their present liabilities were *350,000, and that the only security depositors had for tludr money was the personal security of J. C. Savery. This sort of a thing, the Commissioner said, had been going on for years, and he asked that the Hoard rescind its permission to enter Castle Garden on the plea of helping tl»© emigrants from all persons except agents of railroad* and steamers. Commissioner Stephenson also spoke of another similar institution by O. K. St. Jerome, at 27 State Street, in which depositors had no security.
Newspaper Details
The Emporia Weekly News
Emporia, Kansas, US
Thu, Jul 14, 1887
Page 1
Full Page
Clipped by
Don B.
USA 10 Mar 2023
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