Show telegraphic C DETROIT D january 17 A sensation in business circles circled was was caused this afternoon when it bacarro ba caroo known that charles E young you ig for many years confidential bookkeeper of the Mic michigan bigan carbon works but more recently secret a ry and treasurer treasur r of the concern had been arre arrested sled charged with embezzlement young has for years past graveled raveled aled in the possession ofa of a blooded bolfe a nobby turnout arid and a colored coach meri on a salary alary of kofl 1 but as a s his father was known to be wealthy weal ilij it excited no special attention last september young was Pron jotA tod to the position of secretary and treasurer and not long afterwards a decrease in the dividends to stockholders caused a complaint this dissatisfaction rd led to an investigation it was ascertained certa ined then that somebody high in office had been pocketing money belonging to the company for the last t two wo or three years president Jarvis has been active in the search for for the guilty party and at a m meeting beet of the board of directors held a days ago ini informed inlo nned ormed his con febers that young yoking was the culprit he said young even as confide confidential il bookkeeper lad had handled money for the purchase of 0 bones and had bad credited bone peddlers with many pounds of bones that thoy they had not supplied and that lie had pocketed the difference between truth and falsity this explanation was accepted and accordingly young was locked up last night he was not shut up in the ordinary quarters at the jail but was placed in in a roo room in ot the sheriffs residence there is a mystery about the affair and when a reporter ss sought ought an interview at the jail this afternoon he was told tationa were under way to settle the affair and that he be could riot not see the prisoner president jarvis after consulting with the attorn attorney ev stated staled this afternoon that as nea near as could be ascertained defalcation amounted to and had bad extended over a period oft of three years being accomplished iril in abory a very clever way so as to avoid sui suspicion dicion most the action is one ona of trespass on the caso case for embezzlement young is hole in bail which he had bad not yet given |