15923. Graham & Co. (New York, NY)

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: August 15, 1865
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: a024ea27

Response Measures

None

Description

Multiple contemporaneous newspapers (Aug 15–16, 1865) report that Graham & Co. announced inability to meet engagements and suspended payment after forged gold certificates and abstracted securities by Edwin/Edward Ketchum were discovered. Articles describe suspension and prospects of liquidation; no reopening is reported in the provided items, so classified as suspension leading to closure/receivership.

Events (1)

1. August 15, 1865 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Discovery of forged gold certificates and abstracted bonds/securities by Edwin/Edward Ketchum which victimized Graham & Co. for roughly $285,000 (reports vary); firm unable to meet engagements and suspended payment.
Newspaper Excerpt: This morning the firm of Ketchum, Son & Co., suspended payment, and Graham & Co., also announced their inability to meet their engagements.
Source: newspapers

Newspaper Articles (10)

1. August 16, 1865 The Sun New York, NY

Click image to open full size in new tab

Article Text

LOCAL NEWS. NEW YORK AND THE VICINITY. WALL STREET AGAIN IN A FERMENT FORGERIES AND FAILURES-Teo MUGH CONFIDENCE Durlag the last four or five days there has been scarcely Anything to chronicle but the excitements in Wall street in consequence of defalcations and failures. Yesterday the denizens of that street were again in a terrible state of excitement in consequence of an announcement that forgeries to the amount of two and a half millions had been committed by Mr. Edwin B. Ketchum, one of the junior partners of the great banking firm of Morris, Ketchum, Son s Co. The facts of the case were made public yesterday morning, and are, as nearly as could be ascertained. as follows: Mr. Charles Graham, a gold broker of a Exchange Place, having been in for some two mouths. extrusted the management of his business to young Ketchum. A few days ago he returned to his office, and on looking over his check book, found several checks missing. is does not appear that Mr. Graham said anything about the matter at the time, as he had the greatest couthdencein Mr. Ketchum, and did not believe be would force the name of any person to certificates or purlois securities The usual plan of gold brokers is to put their gold into banks, and get certificates of deposits from the bankers These certificates were used as collaterals for loans with an understanding that they were "not to go on the street." Yesterday morning eight of these certificates each for $5,000-were prerented at the banks and were at once promounced forgeries. The consequence was that both the houses Ketchum & Co., and Graham & Co., suspended, which caused agreal commotion. It was thought at one time that the 4th National' Bank of which Morris Ketchum, the head of the firm, was formerly President--might have suffered But soon the President issued a card, in which he stated that the Ketchums had never owed, and did not now owe, scent to the Bank over which he presided, and that the only possible loss it could sustain would be on $225,000 worth of gold certificates, which were supposed to be forged, and which the Bank holds as collateral securities on loans made to other parties. The card also stated that the condition of the Bank was perfectly sound, and the capital unimpaired-the earnings of the last six months largely exceeding the amount of forged certificate held by it. Among the firms victimized were Vermilye & Co., Brocklemer is e Unger, Hallgarten & Herzfeld, Einstein & Rosen. foldt and Lockwood & Co. The certificates appeared to be used as collaterals for loans, and with an under I standing that they should not go on the street. t About two o'clock on Monday afternoon, young Ketchum who is about 25 years of age, was seen 8 # going up Wall street toward Broadway, with a large pile of greenbacks which he carried in apparently a $ very careless manner. Henext went into a trunk D store and bought & travelling bag, for which he paid $16. Into this bag he put the money, about fifteen w packages in all, and from the bulk it is supposed he a had at least $60,000. He then went to his home in Madison avenue, and afterwards left his house and has not since been heard of. He left a letter for hist y father, in which he confesses his guilt. and requeste his parents "to provide for his wile and child. us he be e has provided for himself." The occurrence WAS heall-sbeorbing theme in an around the city during yesterday. Many people indulged in comments thereon. but all seemed to e be wide of the mark. Shortly after the defaice. tion became known, a man ran into an insurance " office on Broadway, In a high state of excitement and Is exclaimed "Young Ketchum has committed tormer d ries to the amount of two millions." "Well" and (Continued on the Last Paged d

2. August 16, 1865 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, August 16, 1865

Click image to open full size in new tab

Article Text

FRAUDS IN NEW YORK. NEW YORK, August 15.-There is great excitement in money circles this morning, and a number of failures are reported, among others, there are Chas. A. Graham & Co., and Ketchum & Son, who have suspended. It appears that Mr. Edwin Ketchum, of the firm of Morris, Ketchum & Co., has been in charge of the business of Mr. Charles Graham, broker, in Exchange Place, during the illness of that gentleman. Upon the return of Mr. Graham to his office, he discovered that several checks were missing from his check-book, and this fact led to the suspicion that Mr. Ketchum is concerned in the forgery of certain fraudulent checks that have been, within a few days past, brought to light. It is said Mr. Graham has been victimized to the extent of $285, 000. This morning the firm of Ketchum & Son suspended payment, and Graham & Co., also announced their inability to meet their engagements. Mr. Graham stated at the Board of Brokers that he hoped to be able to settle all his stock contracts at to day's prices. Another statement in explanation of the suspension of Morris, Ketchum & Co., is that Mr. Ketchum's son had abstracted bonds and other sureties from the vaults of the banking house, to the amount of $2,000,000. Another statement is that young Ketchum forged gold certificates to the amount of $2,5000,000 which have passed into the coffers of the banks, which will be the principal sufferers. Sifting the various rumors, it seems to be established that young Ketchum is guilty of robberies to the amount of not Jess than $2,000,000. He had for sometime taken the place of his father in the management of the business, and he possessed the fullest confidence of all who knew him. He left his home last evening and has not been traced since. His partners did not suspect their lossses yesterday, so adroitly were his operations conducted. Edward Ketchum, who has absconded, is 25 years of age, and has been married two or three years, and has one child. Before departing he left a letter for his father ia which he admitted his crime, and asked his father to provide for his wife and child, saying he had provided for himself. The Fourth National Bank, it is now stated, is involved by his transactions to the amount of $255,000 having negotiated some of the forged certificates. A card from the president of the Fourth National Bank says it is perf ctly sound, and that the earnings for the last six month exceed the amount of forged certificates held by them. The progress of the cholera in the East, and the cattle pestilence in portions of England, and the consequent fear of a dearth of animal food, are subjects of great interest in European papers. The tide of Western emigration to the States and Territories on the Pacific slope seems to be flowing in greater volume the present season than at any time since the California excitement. The town of Stevenson, on the line of the Nashville and Chatta 100ga railroad, was almost entirely destroyed by fire yesterday. It was the work of an incendiary. It has been decided by the Secretary of the Treasury to make a change in the officers of the Custom House at Boston who hold their places by Executive appointment.

3. August 16, 1865 Daily State Sentinel Indianapolis, IN

Article from Daily State Sentinel, August 16, 1865

Click image to open full size in new tab

Article Text

AC, AC, The New York Forgeries. NEW YORK, August 15-Another development of the forgery of gold certrficates has been made It appears that Mr. Ketchum. of the firm of Morris Ketchum, Son & Co., has been in charge of the business of Chas Graham, banker on Exchange Place, during the illness of that gentlemen. Upon his return to his office, he discovered that several checks were missing from his check-book; this fact has led to the suspicion that Mr. Ketchum is concerned in forgery of certain fraud checks that have within a few days past been brought to light; at all events be is absent. It is said that Mr Graham has been victimized to the extedt of $285,000. This morning, the firm of Ketchum, Son & Co, suspended payment; and Graham & Co. have announced their inability to meet engagements, for Graham stated at the Board, he hoped to be able to settle all his stock contracts at to-day's prices. Another statement in explanation of the suspension of Morris Ketchum, Son & Co., is that Mr. Ketchum's son had abstracted bonds and other securities from the vaults of the banking house, to the amount of $2,000,000. Another statement is that young Ketchum forged gold certificates to the amount of $2 500, 000, which had been passed into the coffers of the banks, of which they will be the principal sufferers. Variour rumors, it seems, established young Ketchum guilty of robberies to the amount of not less than $2,000,000. He had, for some time, taken the place of his father, in the arrangement of business, and possessed the fullest confidence of all who knew bim. He left his home last evening, and has not been traced since. His partners did not suspect their losses yesterday, 80 adroitly were his operations conducted. Jenkins, the Phoenix Bank robber, waived an examination this morning and was fully committed. The Post says concerning the failure of Morris Ketchum, Son & Co.: The failure has oceasioned a more profound sensation than any similar event which has occurred for some years, attended, as it is, by the flight of one of the junior members of the firm, who has. abstracted securities to a large imount, besides drawing out of the bank as much as possible of the available funds of the firm. On the discovery of these facts, Mr. Morris Ketchum ordered payment stopped, and in few days be would be ready to submit to the creditors a proposition for liquidation; meanwhile all remittances are de posited in bank to the credit of the remitter. The large capital of the firm and wealth of its senior partner renders it probable that the loss to creditors will not be so heavy as at first reported. It is as yet too premature to attemptto state the amount of the defalcation, but it is variously estimated at from two to four millions of dollars Edward Ketchum, who has absconded, is 25 years of age, has been married two or three years, and has one child. Before departing he left a letter for his father to provide for his wife and child. saying that he had provided for himself. It is said he abstracted bonds from the safe of the firm, but to what extent is not now known. The Fourth National Bank, it is HOW stated, is involved by his transactions $255,000, having negotiated some of the forged certificates The last seen of Ketchum was in n trunk store on Broadway, when he had some fifteen packages of money, thought from a glance to be as much as $50,000, and where he bought a traveling bag A card from the President of the Fourth National Bank says it is perfectly sound, the earnnings for the last six months exceeding the amount of forged certificates held

4. August 16, 1865 The Nashville Daily Union Nashville, TN

Article from The Nashville Daily Union, August 16, 1865

Click image to open full size in new tab

Article Text

HEART'S Content, via ASPY BAY, Aug. 15, -The schooner First Fruit, from Cardiff, rrived at harbor Grace, New Foundland, morning, and makes the following reSixth of August, at 4 o'clock in the orning, saw the Great Eastern and the war steamer Terrible. Six o'clock the morning saw the beacon buoy with flag upon it marked Great Eastern No. 5. Great Eastern and Terrible were then five miles southeast from the beacon. eather quite foggy. At noon the Terrible near the First Fruit and received rination from her of the bearings of the inbuoy. The Terrible reported that cable parted on the 2d of August. The buoy, from the account of the First agitude was 35, in latitude 37° 40 min, north NEW YORK, August 15.-The following is a native of North Carolina who estionably writes what he believes to un- be situation in that State: The rebel influhere, if let alone, will carry everyIt will also hang every loyai repreof the press even now if it were for the protection which the military afAfter their withdrawal, the same of terror which existed before the war State be re-opened to itself. if the Government leaves Holden knows he cannot be elected Governor this fall without the aid of influence, hence he is shaping his . accordingly, and will be certain not 18 their displeasure. ASHINGTON, August 15.-The trial of #. Warts was to have commenced to but has been postponed until to-morF This morning the Government's nesses were in attendance, and there are N in the city who can, at any time, be moned. The accused has for counsel Hughs, and the Goverement has J. Denver, and Messrs. Peck and Schade. H YORK, Aug. 15.-The discovery of at freuds produced last night a rush gold and about eight millions changed R. this forenoon. The market is more da but nervous and weak. Quotations at 141½, run up to 141% and down developments of the forger of gold ificates have been made to-day. It jur Mr. Edwin Ketcham, Son & Co., has apin charge of the business of Chas, Grabroker on ange-place, during the of that gentleman. Upon returning office he discovered several checks missing from his check book, this fact to the suspension that Mr. Ketchum incerned in the forging of certain fraudchecks that have, within a few days been brought to light, at all events he is It is said Mr. Graham has been to the extent of $2,065,000L morning the firm of Ketchum, Son suspended payment, and Graham & pa announced their inability to mest engagements. Mr. Graham stated at board that he hoped to be able to settle his stock contracts at to-day's prices. statement in explanation of the pension of Morris, Ketchum & Co. is 12 Mr. Ketchum's son had abstracted su and other securities from the vault an banking house to the amount of $200,m Another statement is that young or chum lorged gold certificates to the an the bank. the of coffers $250,000, of which had been passed en seems established young Ketchum is e of robberies to:an amount of not less to 201,000 dollars. He had for some time le the place of his father in the arrangeof business and possessed the full of all who knew him, Ho left con- his to yesterday afternoon and has not been E) from since. His partners did in their loss yesterday, 80 adroitly not N his operations been conducted, tr the Phonix Bank robber waived he examination amitted. this forenoon and was fully steamer Mississippi from New Or. arrived. and the bar at the mouth on the 9th Harrisburg, Aug. 15.-The delegates. to National Teacher's Association are arhere by every train. It is expected o-morrow that thelargest representation educators ever assembled on any occasion country will be present to particiin the proceedings of the convention. National Normal School" met in the School Department this morning at 11 . President Edwin Ward, of Illinois, the Chair. Among the distinguished present are D. B. Hagar, Princiof the Normal School of Massachusetts, . Gunn, of Rhode Island, Greenleaf, York, Thompson, of the Pennsylvania of School, Hincile, of Ohio, Hailman B Kentucky, Phelps, of Minnesota, Shelof Oswego and Stearna and Sheldon, of ( The National Teacher's Associa. at Court will assemble the to-morrow morning as House. Curtin will deliver his address of Icome on Thursday. The members of the ociation will proceed to Gettysburg, speeches will be made and other proappropriate to that hallowed lo. Gov. Andrews will arrive as 10 to take part in the proceedings on NEW York, Aug. 15.-The Post says the of Morris etchum has produced a profound sensation than any-similar which had occurred for some years, ended as it is by the flight of one of the members of the firm who has abstractsecurities to A very large smount,besides firm the of funds available the out of the bank as much de possible

5. August 16, 1865 Daily Ohio Statesman Columbus, OH

Article from Daily Ohio Statesman, August 16, 1865

Click image to open full size in new tab

Article Text

S The Gold Forgeries in New York, a NEW YORK, Aug. 15.-Further developments of the forgery of gold certificates i have been made to-day. It appears Mr. I Edward Ketchum, of the firm of Morris S Ketchum, Son & Co., has been in charge of b the business of Chas. Graham, broker, on h Exchange Place, during the illness of that le gentleman. Upon his return to his office, he discovered that several checks were missing from his check book. This fact has it led to the suspicion that Mr. Ketchum is o concerned in the forging of certain frandulent checks that have within a few days past been brought to light. At all events p he is absent: It is said Mr. Graham has been victimized to the amount of $285,000. it This morning the firm of Ketchum, Son & Co. suspended payment, and Graham & Co. a have also announced their inability to meet a their engagements. Mr. Graham stated at n the Board that he hoped to be able to settle all his stock contracts at to-day's prices. t Another statement in explanation of the suspension of Morris Ketchum & Co., is f that Mr. Ketchum's son had abstracted bonds and other securities from the vaults of the banking house to the amount of $2,000,000. Another statement is that young Ketchum forged gold certificates to the amount of $2,500,000, which had been passed into the coffers of the banks, which will be the principal sufferers. Sifting the various rumors, it seems established that young Ketchum is guilty ot robbing to the amount of not less than $2,000,000. He had for some time taken the place of his father in the arrangement of the business, and possessed the fullest, confidence of all who knew him. He left. his home last evening and has not been traced since. His partners did not suspect their losses yesterday; so adroitly were his operations conducted. Jenkins, the Phoenix Bank robber, waved an examination this morning and was fully committed. The Post says, concerning the failure of Morris Ketchum & Co.: The failure of Morris Ketchum & Co. has produced a more profound sensation than any similar event which has occurred for some years, attended, as it is, by the flightof one of the senior members of the firm, E. B. Ketchum, who has abstracted securities to a very large amount, besides drawing out of the bank as much as possible of the available funds of the firm. On the discovery of these facts Mr. Morris Ketchum this morning ordered payment to be stopped, and in a few days he will submit to the creditors a proposition for liquidation Meanw hile all remittances are deposited to the credit of the remitters. The large capital of the firm, and the wealth of the senior partner, renderit probable that the loss of the creditors will not be heavy, as was at first reported. It is asvet premature to attempt to state the amount of the defalcation, but it is estimated at from $2,000,000 to $4,000,000.

6. August 16, 1865 Evansville Daily Journal Evansville, IN

Article from Evansville Daily Journal, August 16, 1865

Click image to open full size in new tab

Article Text

Forgery of Gold Certificates. NEW YORK, August 15.-Further developments of the forgery of gold certificates have been made to-day. It appears that Mr. Edwin Ketchum, of the firm of Ketchum, Son & Co, has been in charge of the business of Charles Graham, broker of Exchange Place, during the illness of that gentleman. Upon his return to bis office be discovered several checks were missing from bis check book. This fact has led to the suspicion that Mr. Ketchum is concerned in the forgery of certain checks that have within & few days past been brought to light. At all events he is absent. It is said Mr. Graham has been victimized to the amount of $285,000. This morning the firm of Ketchum, Son & Co., suspended payment, and Graham & Co., have also announced their inability to meet their engagements. Mr. Graham stated at the board that he hoped to settle all his stock contracts at to-day's prices. Another statement in explanation of the suspension of Messrs. Ketchum & Co., is that Mr. Ketchum's son had abstracted,bonds and other securities from the vault of the Banking House to the amount of $300,000. Another statement is that young Ketchum forged Gold Certificates to the amount of $250,000, which had been passed into the coffers of the bank. Sifting the various rumors it seems established that young Ketchum is guilty of robbery to the amount of not less than $200,000. He had for some time taken the place of his father in the managment of business, and possessed the fullest confidence of all who knew him. He left his home yesterday and has not been traced since. His partner did not suspect their losses yesterday, so adroitly were his operations conducted. Jenkins, of Phoenix Bank robbery waived so examination this morning and was fully committed.

7. August 16, 1865 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, August 16, 1865

Click image to open full size in new tab

Article Text

On the 8th of March last there appeared in this paper a brief paragraph to the effect that there was great excitement at Puerto Cabello, in consequence of the American Minister having attempted to smuggle goods into that port." We are assured the charge is utterly groundless. The Collector of that port certifies that 80 far from there being any "excitement," as alleged, he never, either officially or other. wise. even heard of it; and to the same effect certify the Consuls. The Collector further certifies that he beLieves the $libelous report to be the criminal work of a secret enemy of the official charged. The Minister resides in Caraocas, nearly 100 miles from Puerto Cabello, and we are assured on the very highest authority that he never introduced or attempted to introduce an article into that pora, either contraband or free; and that the first he ever heard of the great ex-1 sitement" spoken of was when he saw It in the New. York papers. He has no doubt as to the author of the Letter, or the motives that dictated it. He is known to be a bitter secession sympathizer, an enemy of the Minister and of the Government he represents. The Minister's friends in New-York are in possession of full documents showing that the Government of Venezuela and the authorities at Puerto Cabello fully exonerate him from the charge. Great excitement was occasioned in Wall-st. yesterday by the discovery that forged gold checks were in circulation as collateral. It was subsequently ascer tained that Edwin Ketchum, of the firm of Morris Ketohum. Sen & Co., was the person who had perpetrated the forgeries, and that he had absconded with an amount of cash not yet ascertained. Ketchum, Son & Co., and Graham & Co., have suspended, until their Losses are more accurately known. A collision occurred yesterday on the HousaIonie Read, between a new engine out for trial on the Brack, and two trains-a passenger and a freightcoupled and backing toward Bridgeport, about three miles from that place. The engine split the hind pas wenger car in two and entered the second from the rear, when the boiler exploded, caasing terrible havoc. At least six passengers were killed outright, and twenty terribly mangled and scalded. Officer Thomas Walker was shot dead yesterday morning in a carpenter shop on the corner of West Seventeenth-st. and Seventh-ave. He and another officer had entered the shop on hearing the screams of a woman, and found some 12 or 15 ruffians within, one of whom fired the fatal shot. Severel ar. rests were made. The conduct of the Keeper of the Kings Co. Jail has been investigated by the Brooklyn Board of Supervisors, and the report of the minority shows very grave charges against that official, causing his discharge. He is accused of starving and oruelly whip. ping those placed in his custody. The Maine Democratic Convention met at Portland yesterday. The Hon. E. F. Pillsbury of Farmington was elected temporary chairman. After the adoption of resolutions, Hon. James Howard was nominated for Governor, when the Convention adjourn. ed. Major Dick McCann, lately of the Rebel Army, has been arrested at Nashville for being a member of a court-inartial which, during the war, hung several Union citizens at Knoxvillo. The details of the suicide of the young woman at Hoboken in another column. are of painful interest, and the circumstances connected with it mysterious in character. The Phenix Bank defalcation continues to attract much attention, and the account in our city mews columns, exhibits peculiar features of Metropolitan life. Receipts for the Lincoln Monument Fund at Springfield. Ill., during Friday last amounted to $273 20. The total receipts up to date are close on $50,000. The entire edition of all obscene sheet printed in Boston, and vended in this city, was seized by the police, at the New-Haven depot, yesterday morning. The trial of Wirz, the Andersonville jailor, hich was to have been commenced at Washington yesterday, was postponed. Wirz is Swiss by birth. The payment of the interest on the SevenThirtics, first series, due August 15, was commenced in this city yesterday. Over $9,000,000 is due. The scaffolding on a new building gave way #021 Monday at Nashville, and precipitated five persons to the ground, severely injuring all of them. Major-Gen. W. T. Sherman, commanding the Eastern District of Louisiana, has reached Baton Rouge on an official tour of inspection. The town of Stevenson, Tenn., was almost entirely destroyed by fire yesterday morning, supposed to be the work of an incendiary. The National Teachers' Association assembles at Harrisburg, Pa, to-day. Gov. Curtin will deliver an address of welcome./ Gen. Schofield arrived at Washington yesterday from North Carolina, and reports affairs as very matisfustory there, Yesterday as observed by the vessels in port as the anniversary of the birthday of the French Emperor. The President and his family will soon make mother excursion down Chesapeake Bay. Gold opened yesterday at 1411, sold down to 1404, closed at 1414@1416. The Stock market was greatly ex.

8. August 19, 1865 Ashtabula Weekly Telegraph Ashtabula, OH

Article from Ashtabula Weekly Telegraph, August 19, 1865

Click image to open full size in new tab

Article Text

EDWARD KETCHUM, SOD and partner of Morris, Ketchum & Co, backers and brokers of New York, absconded within a day or two past with a sum named between two and five millions of dollars. This event has caused the suspension of the firm, and also that of Graham & Co., which has been victimized to the tune of $285,000. The New York Post states the losses of Ketchum & Co., by the abstraction of bonds and other securities, is two and a half or three millions of dollars. The name of the firm was only used once by young Ketchum, and that on the day of his flight when he obtained on a cheek $300,000. Brokers and other persons share in losses in sums from $40,000 to $150,000. Four million dollars is the tamest statement of the total loss that, it is thought the figures will finally show.

9. August 23, 1865 The Spirit of Democracy Woodsfield, OH

Article from The Spirit of Democracy, August 23, 1865

Click image to open full size in new tab

Article Text

The Gold Forgeries in New York. NEW YORK, Aug. 15.-Further developments of the forgery of gold certificates have been made to-day. Itappears Mr. Edward Ketchum, of the firm of Morris Ketchum, Son & Co., has been in charge of the business of Charles Graham, broker, on Exchange Place, during the illness of that gentleman. Upon his return to his office, he discovered that several checks were missing from his check book. This fact has led to the suspicion that Mr. Ketchum is concerned in the forging of certain fraudulent checks that have within a few days past been brought to light. At all events he is absent. It is said Mr. Graham has been victimized to the amount of $285,000.This morning the firm of Ketchum, Son & Co. suspended payment, and Graham & Co. have also announced their inability to meet their engagements. Mr. Graham stated at the Board that he hoped to be able to settle all his stock contracts at today's prices. Another statement in explanation of the suspension of Morris Ketchum & Co., is that Mr. Ketchum's son had abstracted bonds and other securities from the vaults of the banking house to the amount of $2,000,000. Another statement is that young Ketchum forged gold certificates to the amount of $2,500,0€0, which had been passed into the coffers of the banks, which will be the principal sufferers. Sifting the various rumors it seems established that young Ketchum is guilty of robbing to the amount of not less than $2,000,000. He had for some time taken the place of his father in the arrangement of the business, and possessed the fullest confidence of all who knew him. He left his home last evening and has not been traced since. His partners did not suspect their losses yesterday, so adroitly were his operations conducted. Jenkins, the Phœnix Bank robber, waved an examination this morning and was fully committed. The Post says, concerning the failure of Morris Ketchum & Co.: The failure of Morris Ketchum & Co., has produced a more profound sensation than any similar event which has occurred for some years, attended, as it is, by the flight of one of the senior members of the firm, E. B. Ketchum. who has abstracted 'securities to a very large amount, besides drawing d cut of the bank as much as possible of the available funds of the firm. On the discovery of these facts Mr. Morris Ketchum this morning ordered payment to be stopped, and in a few days he will submit to the creditors a proposition for liquidation. Meanwhile all remittances are deposited to the credit of the remitters. The large capital of the firm, and the wealth of the senior partner, render it probable that the loss of the creditors will not be heavy, as was at first reported. It is as yet premature to attempt to state the amount of the defalcation, but it is estimated at from $2,000,000 to $4,000, 000.

10. August 24, 1865 Marshall County Republican Plymouth, IN

Article from Marshall County Republican, August 24, 1865

Click image to open full size in new tab

Article Text

Failure of Morris Ketchum, Son & Co.--Immense Defalcations. NEW YORK, August Further developments of the forgery of the gold certificates nas been made to dav. It appears that Mr. Ketchum, of the firm of Ketchum, Son & Co has been in charge of the business of Charles Graham. broker --an exchange place-during the illness of that gentleman. Upon his return to his office, he discovered that several checks were missing from his check-board. The fact his led to the suspicion that Mr Ketchum is concerned in the forg. ing of certain checks that have within a few davs past been brought to light; at all events he is absent. It is said Mr. Graham has been victimized to the extent of $985,000. This morning the firm of Ketchum. Son & Co., suspended payment, and Graham & Co. have an nounced their inability to meet engagements, but Graham stated at the board that he hoped to be able to settle all stock contracts at -Gay's prices. Another statement in explanation of the suspension of Morris Ketchum & Co., is that Mr. Ketchum's son had abstracted bonds and other securities from the vaults of the banking house, to the amount of $2,000,000, Another statement is that young Ketcham forged gold certificates to the amount of 2,500,000 which had been passed into coffers of the banks which will be the principal sufferers. Various rumors seem 8, establish young Ketchum as guilty of forgeries w the amount of not less thau $2,000,000. He had for some time taken the place of his father. by arrangement of business and possessed the full confidence of all who knew him. He left his home last evening and has not been traced since. His partners did not suspect their losses until vesterday, so adroitly were his operations conduced. The Post says concerning the failure of Morris Ketchum & Co.: The failure has produced a more profound sensation than any similar-event which has occurred for some years, attended as it is by the flight of cue of the junior members of the firm, who has abstracted securities to 2 very large amount besides drawing out of the bank as much as possible of the available funds of the firm. On