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surplus. He began to complete his scheme for the transcontinental system. The Baltimore and Ohio was to be the Eastern end of this, and he negotiated successfully with Robert Garrett for its purchase. With $2,000 000 stolen from the Cincinnati, Hamilton, and Dayton he bought an option in t and began to exercise the rights of in owner. The Baltimore and Ohio included the Baltimore and Ohio telegraph. He got all ready to gell the telegraph system to the WestUnion for $3,000,000. But his affairs were rapidly becoming Involved. The more he stole the more had to steal. Capitalists began to confidence. Trust companies wanted money. Ives grew pale and hagbut he kept or with a bold front, he had nothing to lose except his iberty. When many were beginning to think the end had come, he suddenly ippeared as master of the Vandalia road, with its rich treasury to delve into. And deeply did he plunge his rapacious ands into It that h about a month he nearly $2,000,000 and brought the oad to the verge of ruin. In July, 1887, misfo-tunes began to gathabout him. Robert Garrett salled for Europe, taking the $2,000,000 with him, and aying that the time of the option had xpired and that Ives had not fulfilled he contract. The Mineral Range stockolders began to clamor, the C., H., and stockholders begin to rub their sleepy and shout "Thief!" The Vandalia eople were alert, the New York people whom he was borowing were demandtheir money. The wonder is that he held on as long he did. He never faltered, but brazenit out. He announced with calm condence that the clamor was all newspaper He lived more extravagantly than Then the Coumbia Bank of Phildelphia failed, and Charles Phillips This was the final blow. the morning of August 12th Ives anounced that his firm was never stronger that all rumors to the contrary were Late in the afternoon of the same he sent for the reporters. When they assembled in his office he came out cheerful, smoking a cigarette. "What is the news you have for us, Ives?" said one. "Oh," said Ives, blowing out a great loud of smoke, 'we've assigned. Liallities $20,000,000, assets $21,000,000." When they cleared up the wreck they that he had overstated the liabiliby about $3,000,000 and the assets by $10,000,000. He had stolen and used one way and another nearly $6,000,000. of this he had squandered for his ersonal uses, some he had spent as insome had gone in stealing railHe had utterly wrecked the MinRange. He had nearly ruined the Cincinnati, Hamilton and Dayton, hich could ill bear the loss of $3,000,000. had reduced the Vandalia to the verge bankruptcy. When his failure was announced in Stock Exchange, the brokers cheered It was the first time that the isfortunes of another broker had ever greeted with joy. Nearly a year passed before evidence be disentangled and a warrant issued against him. On July 24, 1888, gave himself up in Cincinnati with tayner, and soon afterward the case was smissed. Some time afterward the pair advertised in a civil suit, brought gainst them by the Cincinnati, Hamilton Dayton, and were committed to Ludstreet jail in default of $250,000 bail. remained there, living in luxury getting fat, until January 26, 1889, they were transferred to the Tombs, iminal charges of forgery, embezzlement larceny having been brought against trial began September 11, 1889, and until September 26th. Woodruff, one his tools, turned informer, and swore Ives tried to forge Christopher Meyname after the old man died. But jury disagreed, two holding out stubfor acquittal. In March, 1890, both secured their freedom again. first Ives lived quietly with his sisin Brooklyn in a fine house he had
