Stupendous Robberies

The Seventh-day Adventist Publishing Association · Battle Creek, Michigan · Aug 29, 1865

Stupendous Robberies.

A most astounding series of frauds and defalcations has been developed in New York within the past three weeks.

First came the bank defalcation of Henry B. Jenkins, paying teller of the Phoenix Bank, who was assisted in his frauds by James H. Earl, book-keeper of the same institution. These men robbed the bank of $300,000 before the loss was suspected. The money was mostly spent in paying black-mail to persons who threatened to expose his connection with a prostitute into whose toils Jenkins had fallen, and with whom he lived; and large amounts were lost in stock gambling. Earl committed suicide soon after his arrest. Jenkins is in jail awaiting trial.

Next came the defalcation of the junior partner of the well-known banking house of Morris Ketchum & Co. This was considered one of the wealthiest and most reliable private banking houses in New York. For some months the business of the concern has been in charge of Edwin B. Ketchum, son of the senior partner. This young man has been engaged in stock and gold gambling to the amount of millions of dollars, and, to cover losses, has abstracted and used bonds and other papers deposited with the bank; and has, also, committed forgeries to a fabulous amount by means of what are known as "gold checks," or certificates. The swindler has disappeared, and, as yet, not a trace of the direction in which he left can be obtained. He is supposed to have taken $60,000 in "greenbacks" with him. Four millions of dollars will not cover the losses to banks and private individuals by the swindling operations of this young man. Mr. Ketchum, sen., has made an assignment of all his property, to cover, as far as possible, the losses occasioned by his son's dishonesty. His property is valued at from two to two and a half millions of dollars. The shock of this "financial explosion" seemed for a while to stun the community. Men knew not whom to trust. Every class of stocks in market declined, while men's hearts failed as they wondered what would come next.

Next came the case of another stock and gold gambler—a defaulter to the amount of $100,000 to $150,000.

Then it was discovered that another bank-teller had stolen $100,000 from his employers. This amount was paid by his friends and bondsmen, and the matter hushed up.

Finally, a freight conductor of the Erie R. R. has been detected in the perpetration of a series of robberies. The amount is not known, but it is ascertained that he took $3,000 in one day.

Such events as the above, tell us in thunder tones the times in which we live. Spite of the boasted increase in light and knowledge, and consequent improvement in the moral tone of the world, we have every evidence that the world is becoming more and more corrupted.