Our plan was to make use of James' office in a way that will appear later. As related, he was suspected by his profession, but the general public thought him a very great man. He had appeared as (volunteer) counsel in two or three murder cases and had delivered powerful addresses which had attracted considerable notice in the papers.
One day, soon after our plan was matured, Brea went to Philadelphia, and, by a mixture of audacity and finesse, procured from Jay Cooke himself (the parent house of the New York firm of Jay Cooke & Co. was in Philadelphia) a letter of introduction to the manager of the New York firm. He wanted the letter ostensibly in order to consult the manager about certain investments which he, as executor of an estate, desired to make for his wards.
The transaction was made to appear as one of considerable magnitude, in which there would be large commissions paid. With the grand send-off of a letter from Jay Cooke to his subordinate in New York, the speculation opened well--so well that we at once decided what we would do with the money when we got it--a case in point for the old proverb. We had ascertained the name of a Newark manufacturer who had recently failed in business. I will call him Newman. On the morning after his return from Philadelphia, Brea presented himself at James' office--it being arranged that James himself be out, so Brea told the clerk that his name was Newman, that he had lately failed in business, and intended to employ Mr. James to put him through the bankruptcy court. The clerk told him to come again at 12, and he would find Mr. James in. At 12 he came; the clerk introduced him. James kept the clerk conveniently near, that he could hear the conversation. Brea, as Newman, told James he had used in his business $240,000 belonging to his wife and her mother, and that in scheduling his assets he proposed to use enough to make those amounts good, intending to conceal the fact from his creditors. He determined to invest the amount in bonds--so ran his story--and was going to deposit the money in the bank that very afternoon, at the same time producing his letter of introduction from Jay Cooke. All of this, of course, being for the eye and ear of the clerk, who might be required as a witness of his employer's good faith.