A "DEAR" SALE.
But a short while ago, a house in Wall Street, which had ventured too far in its speculations, failed. It settled its liabilities honestly, but had not a penny left. One of the partners had used U.S. bonds to the amount of fifteen thousand dollars, belonging to a relative, and these had been swept away. Whether for the purpose of replacing this amount, or for his own benefit, the broker resolved to get possession of a similar amount in bonds at once. The failure of his house had not become generally known, and he determined to lose no time in his operations.
Proceeding to the office of a well known house, one morning just as business hours opened, he asked for fifteen thousand dollars worth of Government bonds, and offered the cheque of his firm in payment for them. Being well and favorably known to the parties, his request (which was based upon the falsehood that he wished the bonds to fill an order for a countryman who was in a hurry to leave town, and that he had not the amount in his own safe), was complied with. The bonds were delivered to him, and his cheque taken in payment. He at once departed, and the banker, feeling no uneasiness at the transaction, did not send the cheque to bank at once. Several hours passed away, and he heard rumors of the failure of the house to which he had sold the bonds. The cheque was at once sent to the bank; payment was refused, on the ground that the house had failed, and had no funds in the bank. The fraud was plain now, and the banker, repairing to the office of the unfortunate firm, was informed by the partner of his friend that the transaction was a swindle. The detectives were at once set on the track of the swindler, who had made his escape immediately after getting possession of the bonds.