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The herald. [volume] (New York [N.Y.]) 1835-1837, January 19, 1836, Image 2

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THE HERALD.
NBW-YORK, TUESDAY, JAN. 19, 1836.
MOST IMPORTANT DISCLOSURE?COL.
WEBBS WALL STREET DEFALCATIONS.
It is with heartfelt grief that we are compelled to publish
the following awful disclosure of the defalcations
of *ur former associate. Col. Webh, of the Courier and
Enquirer, in hid Wall street operations. But as we
control an independent paper we could not refuse it.?
Te-morrow we shall give our commentary.
TO THE PUBLIC.
As that most notoriously infamous person James
W atson Wkbb, has had the unblushing impudence to
ndeavor to throw odium on me for having, uiwxt unfor- ,
tunately, been one of the credulous Brokers through
whom he has operated in his stock speculations, I will
not apologise for intruding my affairs on the public, in
order to clear myself from a charge coming even as it
do?s from oue so totally devoid of truth or an* other
geatlemenlv feeling. I give the facts of the wKole of
my transactions for and with him, aud leave it to the
world to judge of them.
Jttme* WaUon Webb, for Purchase and Sale of Stock*
by your order, in account current icith Henry Lynch.
DR.
1834?March 4?To 200 shs. Mohawk, at
112J, $22^50 00
Commission j, 56 37 $22,606 37
To this amount loaned to Jas. T. Talman
for 275 shares Del. St Hud. which he
bought to fulfil your contracts due this
day without any int. until 21st March, 23,400 00 '
T? one half per cl. pd. to J. T. Taluian to
lend the stock, which I stated to you the
evening before the stock was due, and
agreed by you, 117 00
9?To cash pd. J. LittU St Co. for 25 Del.
Si. Hud. at 90*, 2^62 50
Do. do. Joseph & Co. 50 do. at 91,4,550 00
Do. do. Bicker. 50 do. at 91. 4.A50 90
Do. do. Coster it Carpenter, 55 do. at 90j,
4,!<91 25
Do. do. Gallatin, 20 do. at 90$, 1,810 00
Total?200 share?, $18,163 75
Commission 1, 45 41 18,163 75
To int. & comm. pd- J. T. Talraan for deposit
he made with Coster & Carpenter
on sale of 100 shs. Del. & Hudson, on
3d Jan. 20 00
Discount for the int. on notes und checks
until due, 60 88 |
$64,413 41
CR.
1834?Dec. 23?Bv sale of 75 shs. Del. Jc.
Hud. beinjr half of 150 shs. sold on joint
account with Will. C. Wales, at 74 p. sh.
5^o0 00
Due 21st Feb. bat Books closed until 4th *
March, at which time it is valued, say 71
days, int. 6 p. ct. 6o 67
$5,615 67
Less Commission i p. ct. 14 03 5,601 64
1835?Jan. 3?By sale of 100 Mohan k to
Le Rov Jt Co. by J. T. Talman, at 60 day a,
option seller after 30 days, by vour orders,
at 108, " 10,800 00
By sale of 50 do. do. to Wm. Borrowe by
do. on the same terms and time by your
order, at 108?and 50 do. do. to Lr Roy &
Perry, by do. on same terms and time, by
your orders, at 108, 10,800 (>0
Due 4th March, 60 days int. 216 90
$21,816 90
Less Commission j per ct. 54 54
*21,761 46
Less dividend 24 pr. ct. $500 00
18 davs im. 1 00 501 50 21,269 69
By sale eflOO Del. Ac Hud. by J. T. Talman
to Coster Ac Carpenter, at 60 day9,
option seller after 30 days, by your orders,
at 73i, ' 7,325 00
By sale of 100 do. da. by do. to Christinas
At Livingston, on same terms and tine, by
your orders, 7,325 00
$14,650 00
Valued 4th Marvh, 60 days int. 146 50
$14,796 50
Less commission i p. ct. 37 00 14,759 50
8?By sale ot 100 Del. At Hud. by J. T.
Tsi man to W. Bicker, at 60 days, option
seller after 30 davs, bv vour orders, at
74}, " * 7,450 00
Bv sale or 100 do. do. bv do. to Joseph Ac.
Co. off same terms au<i tiuie, by your orders,
7,459 00
Valued SHh March, 60 days int. 149 00
91-VM9 00
Less conuninaion i pr. ci. 37 62 15,011 38
March 4?By Thos. E. Davis' check, payable
"th March, 1.25? 00
By your awn sou, at 50 days, 2,0?o 60
9?By your check this date, 1,350 00
10?Bv vourdo. on .National Bank,
dua 2isl April. 1,.170 38
11?Your note at 5o day*, 1,890 00 7,780 93
$64,-113 41
James H aiUon HV&6. in account current Icitk Henry
ISt
1835? April 6?To. 100 slis. Del. Jt Hud.
contracted thin dny to supplv your delivery,
at 86 and ftf, due the 6lh inst. and
paid for (his day cash, at 1071, 10,750 00
Commission i, 26 87 10,77$ 87 i
7?100 sbs. do. do. contracted thin da* to
supply your delivery, due at 86, and paid
for the same, at 1071, 10,750 00
Commission 1, 26 87 10,776 87
March 21?Cash paid to J. T. Talmaa for
275 shs. Del. & Hud. due to hiin this day,
which be had lent on the 4th March, and
now paid, at 114 per ct. 31,350 00
Commission i, 78 37 31,328 37 :
May 14?To int. balance from below,
101 10
$53,063 21
CR. ?
1835? Feb. 4?By ?ale 50 aha. Del. 6l Hud.
by J. T. Talman to Clarkaon & Co. al
66 days, option seller after 30 days, by
your orders, at 864, 4,325 09
i
By sale 50 shs. do. do. by do. to Stebbina,
saute terms and time, by your orders, at
87, 4350 00
#8,.i75 00
Valued 5th April (the ?>th beiug Sunday)
59 days int. 35 32
$8,T?) 32
Less commission J, 21 90 8,738 42
7?Bv sale of 50 shj. de. do. by J. T. Talman,
60 days, option seller after 30 days,
by your orders, at 86, 4,300 00
By sale of 50 shs. do. do. by do. to .Messrs.
Josephs & Co. on same terms and time,
bv your orders, 4,300 00
$8,600 00
Valued 7th April, 60 days int. 86 00
8,686 00
I,ess commission }, 21 71 8,6Ct 29
March 31?By this amount returned by J.
T. Talmno, the loan made him on the
275 shs. D*I. it Hud. which he lent vou
on the 4th March, until this day, 23,400 00
May 14?By balance due this date, 12,289 50
(53,083 21
May 14?To balance due by James Watson
Webb, this day, $12^80 50
Neie lor*, 14M May, 1835.
James W'atxon Webb, in ticcount Jot interest icitk
Htury Lynch.
May 14?To interest on $10,776 87 from
April 6th to date, 38 days, at6pr. ct. $68 24
To interest ou $10,776 87, from April 7th to
date, 38 days, at 6 pr. ct. 66 46
To interest on $31,428 38, from March 21st
to date, 54 days, at 6 pr. ct. 282 86
$417 56
DR.
1835?May 14?Bv interest on $S,738 42,
from 5th April to date,37 days, at 6 pr. cl. $53 37
Rv interest on S>8_664 29. from 7rh Anril tn
date, 36 days, it 6 pr. ct. 51 99
By interest ou $23,400 00, from .1st March
to date, 54 days, at <5 pr. ct. 210 60
By balance this day, carried above, 101 10
$417 56
The following is a ropy of his order to sell slock.
v!00 Del. and Hud., 60 days, option seller after 30.
*200 Mowbawk, do. do. do. do.
January 3,1835.
The following is his letter of the 13th January, 1835,
at Philadelphia, giviug orders to sell slocks.
Dear Lvnch : I have written to Gouverneur on tlie
subject of the Delaware and Hudson, du? oa the 19th,
so give yourself uc trouble about it. I am cuthred from
a ccrtuia quarter, that money will be much more in demand
shortly, u?d on the receipt of this, sell me two or
three hundred Del. & Hudaou, 60 days iny option, after
30 and int., at the best price you can gel. If a deposit
of 5 ()?'r ct. is required, I will send you a check, though
I would rather not. Your friend,
(Signed) Wkbb.
Curses on Morris.?Write and direct to Washington,
sat ing at what price the sales are made. Philadelphia,
January 13th, 1835. W.
As I do not see Harlaem quoted, say what it is when
you write I shall close mv 830 when I return; do not
"fail to sell 300 IX*1. & Hudson to average my other
sales; it must go down with tli? market. (LomJidentuU.)
My reply to him :?
Col. Wkbb,? January 15,1835.
My Dear Sir?Yours without date but posted at
Philadelphia on the 13th, I did not receive until too
late yesterday to give any orders at the Board. Dela
ware & Hudson is rising fast. Harlaeui is very dull
to-day, but ea9h sales at 83 1-2. Morris sells at the
Board from 165 to 178 every day, and in the street afterwards,
before 3 o'clock, at 180 to 185; the thing, in tnv
opinion, is progressing slowly but surely to $'210. The
concern ia getting daily in more tinu hands. So, my
friend, I woutd advise you at once to make the gentlemen
some offer to compromise, say 10 or $15,000, at your
own time, 1 year,or6mouths; but do, I pray you, make
them some offer which they may accept at once, as
when the thing is all settled, they will not be approached
in any way. Do let me make some proposition. I
have tried to sell Delaware &. Hudson to day according
to your order", and have tried to do so, but could not
as only one sale was made, ou time aixl 10 per cent deposit.
llarUem dull, very dull still. Tell me truly
what yon think of the market, and what is to be done
for you. I feel painfully excited by your situation in
.Morris Canal. Do get out, if it is possible. Del. and
Hudson began at 84 1-2, and left off at 81 1--2 ud 8$ 1-3.
All things rather heavy for two days past. Write me
fully. Yours, See.,
(Signed) Hksrt Lyhch.
Mv letter to Webb, April 7th.
" _ April 8th, 1835.
Mr. \^l>b,Sir:?1 have sent repeatedly toyonroffice
to receive from you 'J00 Del. Jc Hudson sold by yeur
order, and for your account and risk, and becoming due
the tkh and 7th of April, and not finding you, the broker
has b*ught ft he i n )?r your acccount, to deliver ?nJ
fulfil your contract*i, which some davs since you advised
me you always compliedjwith, and 1 hold you accountable
for the difference. Your j, <Scc.
(Signed) He.nrt Lynch.
After having rendered him my account as above, and
leaving a large balance due me, and not being able to get
anv thing from him, 1 applied to Mr. Joseph Josephs,
who, I was aware, entertained a friendly and kind feelinr
for Webb, and proposed through him to leave mv
account to any three gentlemen he laight name, and if
not found correct in every item, or if there was the
slightest skadow of doubt of the correctness of uiy account,
I would wave mv whole claim, ( for this, I beg to
refer to Mr. Joseph.) Not hearing from Webb, I addressed
him the following letter?to which I have never |
received any answer.
Mv letter of 14th July.
July 14th, 1835.
Mr. Jas. Watson Webb, Sir:?On the 7th of April
last, I handed to you through mv clerk your account,
show in; a balance due me of twelve thousaad dollars and
upwards, the account current has again been made up to
the 14th May last, showing a balance due me on that
day, of twelve thousand two hundred and eighty dollars
and fiftv cents, to which 1 crave your immediate attention.
Should there be auv item ia the accouut to
which you can make any objection, I am willing to
submit it to be arranged by mutual friends, and would
name several of your own intimate acquaintances, such
as Mr. Joseph Josephs, Thos. E. Davis, Saml. L.
Gorameur, Charles King, Esq., but not wishing to dictate
in the. matter, merely suggest ike names of those
gentlemen, you may appoint one if we differ. I will
name another, who may chaoae in cpae of their disagreeing
an Umpire, and request your early attention to
tnia matter. Yours, Sic.
(Signed) Hurt Ltkch.
I then employed Mr. Cutting to sue him, wliich
*
hat been done. His Ietler to Mr. Cutting I never w?,
until in print this day, or the public should long since
have been in possesxiwn of these facts of his infamy.
Copy of note from Cutting.
Mr. Webb peremptorily refuses to settle, and accompanies
his objectiuos with threats. I await your further
directions.
(Signed) F. B. Currma.
II. Lynch, E*q. July 24,1835.
Which was all I know of his letter, and to which 1
immediately told Mr. Cutting, then gare hita a chance
of putting in force his threats. I presume Mr. Cutting's
motives for not holding such an infamous letter, were
friendly, and to prevent any difficulty.
The account current shows the balance of $12^280 50,
of w hich sum I have been robbed.
The amount of differences due by him on contract is
a* follows:?
Last spring I had an order to buy 500 Mure* of Philadelphia
<St Trenton Rail Road stork, and in March, on
a Wednesday afieroovn, in presence of Messrs. Henrv
Ogden, Roliert Bayard, Benjamin Bretnner, and A. N.
Lawrence, I purchased ftom James Watson Webb, 500
shares of Philadelphia & Trenton, at his option in sii
month*, alter four months, nt $85 per share, and interest.
The next morning I reported the parchase to my
principal, who refused to accept it from Webb, unless
he would deposit $10,000, which my principal agreed
to do also. I advised Webb, who agreed to make the
deposit, and luuucd the following Saturday to pay it.?
He called on that day at niv office, and in presence of
a gentleman, in the most positive and peremptory manner
refused to make the deposit, or cancel the contract,
(although 1 urged him to do so,) to which he declared
he would hold me boand, as lie should make five or ten
thousand dollars by it. When the stock became due,
it was at $'Jfl0 [>er slure, making a difference in my favor,
and due by James Watson Webb to me the sufn of
$56,225 on this contract. When the stork became due, (
it is needless to inform the public that he did not deliver
it.
His contract to deliver 600 shares of Merris Canal at
$57 per share, ina<te by him on the 9th January, 1835,
and due on the 9th of this month (not yet delivered} urn*
not made with me, or through me, although made in iny
office, in his usual impudent and blustering manner.?
After which he used the columns of his paper to abuse
and crv down the stock, at the same tune having the
audacity to declaim to the public, over his name, w hile
doing so, that he had no interest whatever in stocks;
aad yet he has the assurance to refer to my failing to
complv with mv contracts, which, in fact, has been
caused bv my ill-placed confidence in the honor, honetty.
and integrity of such characters as James Watson
Webb, and Wilding.
January 18,1836. HENRY LYNCH.
[Private Correspondence.]
Washington, Jan. 15,1836.
Messrs. Livingston and Barten were in conclave with
Johu Q. Adams this morning for some lime. Perhaps I
tliev were takinar counsel in rerard to th? anerinl men- i
cage?of which, whatever it in, Mr. Adams is to be the
great champion. Some say it is to come or Monday,
but that is uncertain. Things looks so awkwardly and
unexpectedly pacific, on the part of France, that the
whole message will have to b? pulled to piece#, and
written over again. If it comes in on Monday, it must
be of rather a milk and water character, not at all equal
in iuterest to the one you prepared for the occasion.
The proper time for pushing the matter ha.?, I fear, been
lost,and there must be an end to the agitation. Oh! the
bright and glorious prospects, which are to be suddenly
overcast with gloom! Visions of eontracts,commissioas,
perquisites?fat emoluments of war?where are ye now T |
The long unpaid, long promised, hope detering expectants
of Executive bounty, must now come down to the I
sober reality of their forlorn situation. A new swarm '
of officers are soon to appear, with a new administration
?nud they will come ea<;er and hungry to an already
crowded and scanty crib. If the office-seekars that are
to be hereabouts for the next two years, would form a
coms.it would be numerous eiiniivh In inks T?<?j ??
maintain its independence against all the force of Mexico.
Neither house will sit to-morrow. The Senate got !
into such a row yesterday, that they were obliged to
adjourn over to Monday, in order to cool off. It doe* not '
answer for these grave aeignors to exhibit themselves
! the vulgar as specimens of humaa meekness. They !
mnat a little uioro resptrct their dignity; and, if nvcea- ;
sary, make all their sittings secret. Benton and Gold*
borough got into a brawl yesterday, which ended in a
way little creditable to either.
Your New York bill will probably pass next week.
The House hava taken up the Senate bill, and will be
able to pass it without amendment. I doubt whether
it will afford any but a very partial relief, and that to a
very small extent. But, together with other measures
adopted by the City and State Legislature, however, it
inav prove beneficial.
Fashio.iablk Affair.?In passing up Chatham
street on Tuesday evening, we were suddunly shocked
and alarmed by l>eiog called to assist in picking up a
party consisting of five ladies and three gentlemen who '
had been engaged in the fashionable amusement of '
sleighing, but were now wallowing in the mud, having
been forcibly ejected from their vehicle, by the unpara
lei lad awkwardness ?f their driver (as we supposed)
in turning th? coiner of Mulberry and Chatham street*.
Very fortunately the sleigh was not far distant when, j
the horses being none of the most frisky in the world,
were glad to get a chance to stop. The personal injuries
received by the party were comparatively trifling,
being one bruised shoulder, one bruised cheek, and one '
scratched ancle, but the destruction of dress was melancholy
and irreparable. Hats were crushed up in the ''
gutter as if they were intended never to be worn agaiu, l'
the collars and shoulders of cloaks were fairly stepped ^
in the mud. and a handsome bead bag was picked up c
a few minutes afterward#, completely saturated with a
dirty snow water. Thev were soon however, safely
packed on i>oard thrf sleigh again, and we understand u
<ro! home without Turflier accident. o
Great credit is due to the ladies for their quietness, 81
there was not a single scream among them, so we eon- 9
eluded they were women of some sense and firmness. ^
The gentlemen too showed great alacrity in gathering
together their fair companions, some of whom had rolled ^
a considerable distance.
. I
A public meeting was held in New Orleans, January r
1st, to take into consideration the oest mod* to relieve jt
the sufferers by fire at New York. Among others, a
resolution was adapted recommending to Congress that m
a loan free ef all interest be granted 19 the people of *
New York out of the surplus revenue. p
% ?
(Piintc Curmpoaicncf.]
Albany, January 15, 1836.
The weather ia now charming. The aun ia now abinins
on the good people of Albany as graciously aa on a
May morning. Tlie streets are quite dry, aad instead
of the sleighs "splashing" through the snow and mud,
they glide along as swiftly and as merrily aa did Cinderella
in her glasa slippers before she was carried off by
Bluebaard.
A change has come over tbe spirit of the dream, and
u the city is itself again " Handsome sleighs filled with
handsom* men, and handsome ladies, are dashing along
like wild fire, and after the business of the House is
ever, groups of well dresssed personages are lounging
up aad down the principal streets like so many nabobs
or Sultans of the East.
The whole city is like an immense bee lure, and the
beea are at work to please the palate, and biiium tbe
drones. Oyster cellars and tavern keepers are the
principal iucu iu requisition.
I have just seen one of On^en Bachelor's pamphlet*
against Dr. Sleigh. He ha* sent one gratii to all the
newspapers in the city. He appears to be mighty
ambitious of fame. Poor fellow, it is a pity he wa* not
cut out into little star*, and placed in the *ky to form a
second Pleiades! He was mortally wronged when
hi* "discerning genius" was wasted on this dull erb.
The following bills were read a third time, and passed
in the senate this morning, " Authorising a loan from the
City of New York to the Insolvent Insurance Companies,"
and the bill " for the more convenient adjustment
of the affairs of the said Companies." They were
passed unanimously.
In the House of Assembly, the Committee of the
Whole resumed tbe consideration of the bill for u the
relief of the City of New York." A most stormy debate
arose on the motion of Mr. King, to strike out that section
which allows Banks to discount on the proposed
loan. There was some severe hitting, and Mr. Cutting
from New York, got his knuckles rapped severely.
They talked until they got hungry, and then they called
for an adjournment, and went to diuner without doing
any thing decisive.
Later from Texas.?The New Orleans papers of
the 4th instant, contain the following :?
General Mehia arrived in this city on Saturday, from
Brazoria, Texas; and on the same day, in the Texian
vessel of war, Liberty, arrived Col. S.Austin, General
Wharton, and others ol the Texas delegation to the
United States. Their object is, we believe, to procure
arms, ammunition, provisions and volunteers. To the
politeness of Gen. Wharton we are indebted for a file of
Brazoria papers up to the 23d December, from which
we take toe following items.
Meetings have Iteen called in different parts of Texas
to discuss tbe propriety of an immediate declaration of
iiii1*ru?fula?w?ji a* d ? ? " ? c ? i
...u. ..v?. .?< nio/urin, iroin wnicn place only
we knew the result, the meeting was unanimous in favor
of the measure. In our next number, if we can find
room, we will publish an excellent speech of General
Wharton on this subject.
The following is a list of the officers of the permanent
army so far as ascertained:?
Samuel Houston, Major General and Commander in
Chief; John A. Wharton, Adjutant General; A. Houston,
Quartermaster General; ? Richardson, Surgeon
General.
The provisional government is actively employed in
making arrangements for the defence of the country
and the better administration of the laws. Twenty new
municipalities have been formed, onJ a reserve army
has been provided for by legislative enactment.
Barclay street College.?We have received a
very curious " Address delivered in Clinton Hall on the
15th of November last, by Dr. Bedford," of this city, in
which are to be found some of the ugliest facta respecting
the industry, talent and management of the
Barclay street College, which we ever remember to
have come before the New York public. The science
of Medicine in New York is in a rciaarkahle condition.
With opportunities to make this city one of the greatest
medical schools in the world, it is the worst?the
most lazy?the most indolent?(he most insignificant.
There is scarcely a village in the country where a medical
seminary may be established, that in point of
uccess and respectability does not surpass the Imperial
City.
In consequence of this state of things, we see Medi:al
Science at its lowest ebb?a College fed on the
Mutafy of the State, almost without pupils and without
:haracter. We shall review this whole subject at an
?arly day.
Prompt fat i.eads to lo.ig tare.?Once upon a
us a iiitcik-i air|i|>e<i into Mage coarb. lie was a
young man starting in lift*. He found six passengers
ibout him, all grey headed, and extremely aged men ;
he youngest appeared to have seen at least 80 winters.
Dur young traveller, struck with the mild and happy
ispect which distinguished all his fellow passengers,
letermined to ascertain the secret of a long life, and art
>f making old age comfortable. He addressed the on*
vho was apparently the eldest, whe told him that he
tad always Ie4 a regular and abstemious life, eatiag
egetables and drinking water. The yvung man wu
ather daunted at this, inasmuch as he liked the good
hings of this life.
He addreseed the second, who astounded hint by sayog
that he had always eaten roast beef,and gone to bed
egularly fuddled for the last 70years, adding that all
lepended on regularity. The third had prolonged hit
lays by never seeking or accepting office; the fourth,
iy resolutely abstaining from all political or religious
ontroverav ; the fifth by getting to bed at sunaet, and
rising at dawn.
The sixth was apparently much younger than the
ther five. Hi* hair was less gray, and there was more
f it. A plain smile, deueting a perfectly easy cooi-ience,
mantled his face, and his voice was jocund and
trong. They were all surprised to learn that be was
y 10 years the oldest man in the coach.
" How," exclaimed our young traveller, " how is it
iat you have preserved the freshness of life T"
"I will tell you," said he, "I have drank water and V
have drank mm?I have eaten meat and I have eaten
sgetables?I have held a public office?I have dabbled
i politics and written religious pamphlets?I have
xmtimes goae to bed at midnight, got up at sun rise,
odat uoen?but I almayt paid promptly for inf mevi
ft

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