Rensselaer Republican, Volume 16, Number 46, Rensselaer, Jasper County, 24 July 1884 — Luxurious Tastes of a Defaulter. [ARTICLE]

Luxurious Tastes of a Defaulter.

[New York telegram.] Startling reports were circulated to-day regarding alleged embezzlements by confidential persons in the employ of Arnold, Constable & Co. These reports dealt chiefly with the name of Henry C. Pedder, the confidential manager of the firm's business. The firm” refused to make any statement about the alleged embezzlements, and Pedder refers inquirers to the firm. The fact became known to-day that Mr. Pedder, who arrived on the 14th inst. from Europe on the Servia, had transferred to the members of the firm on the next day his property at Llewellyn Park, N. J. The consideration was sl. Mr. Tedder's house is an enormous building, occupying one of the finest sites in the Park. All of the Park houses were eclipsed when Mr. Ped-, der erected his spacious and costly house. Standing on the mountain side, with the grounds sloping away in front of it, it commands a view of Orange, Bloomfield, and other towns.’ It is said that $75,000 was spent on the interior. The halls and rooms are finished in hardwood and decorated in accordancejrith expensive tastes. The whole property is valued at $200,000. Mr. Pedder began to work for Arnold, Constable & Co. at a salary of S6OO 'a year as an entry clerk. He is now about 45 years of age, and was supposed by his neighbors to be one of the partners in the firm, so that his liberal expenditures and luxurious tastes did not excite much wonder. He was a member and officer of a church. He has a wife, but no children of his own. The defalcation with which the manager’s name is connected is variously estimated from $200,000 to $600,000. Tedder’s style of living is said to have involved an expenditure of $50,000 per annum.