Albert D. Jones’ embezzlement of funds is discussed elsewhere on this blog. Thanks to research by Rachael de Vienne, we know more about the back ground.
Jones’ investment in the Knickerbocker Bank went up in smoke. Other transactions reduced him to near poverty. A judgment against him for $7,044.00 was entered in January 1892, in favor of George F. Whipple on notes made in 1886 and 1887. [The New York Sun, January 19, 1892]
An article in the New York Tribune, February 12, 1892, shows that he had secured an investment with his furniture. His belongings were subsequently sold for six thousand dollars, a considerable sum in those days. He had mishandled the investments of Jane Crossley, the widow of a prominent carpet dealer.
In December 1889 many of Jones’ creditors took him to court and won judgments. The total of the December judgments approached $40,000.00. The record is found in the December 28, 1889 issue of The Real Estate Record and Guide.