The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1870-12-10 00:00:00

DISAPPEARANCE OF MR. ADCOCK, THE

SECRETARY.

A good deal of anxiety has been felt this week
among the monetary circles in Stourbridge and
the district, on account of the disappearance of
Mr. W. T. Adcock, late Secretary for the Stour-
bridge Extension Railway.
Since the morning of Wednesday week. Mr.
Adcock has not been seen in this locality. It is
believed that on Wednesday he took train to
Evesham, alighted there, and shortly afterwards
went in the direction of Warwick. Nothing is
known of his whereabouts, but it is suspected
that he has proceeded to some country where-
with we have not an extradition treaty. Mr.
Adcock originally came to Worcester in the
capacity of secretary of the Oxford, Worcester,
and Wolverhampton Railway, subsequently am-
algamated with others into the West Midland,
and finally incorporated aith the Great Western
Company. In November, 1831, Mr. Adcock was
elected i member of the Town Council for the
Ward of Claines, which he has ever since repre-
sented; and on the Oth of November last he
was elected Sheriff of the city, on the ground
that he would be a very desirable and fitting
person to fill the office of Mayor next year.
Mr. Adcock had for many years taken part in
public meetings in Worcester, and, so lately as
Monday and Tuesday week last, he was so en-
gaged. On Thursday evening week lust he was
to have been installed in the office of Worshipful
Master of the Worcester Lodge of Freemasons,
No. 280, to which he had been duly elected at a
previous meeting ; but the brethren awaited his
coming at the lodge-room until they were tired,
vainly puzzling themselves to account for the
cause of his unexcused absence, owing to which
the installation was adjourned sine die.
Mr. Adcock was a churchwarden of Holy
Trinity Church, and not long ago be presented
to that church a service of communion plate.
He was also a director of the Worcester Engine
Works Company, the Royal Forest of Dean
Mining Company (recently wound-up with the
loss of every farthing, both to the shareholders
and creditors), and several other Limited Com-
panies. The family of Mr. Adcock left Wor-
ceder. on Monday, and his furniture was the
same day taken possession of by the City and
County Banking Company.
Mr. Adcock had so far succeeded in gaining
public confidence that many persons entrusted
him with considerable sums for the purpose of
being invested in railway stock, and who were
content to hold as security for their money and
effects his written acknowledgments, and who
did not think it at all necessary to have posses-
sion of railway certificates. We believe several
tradesmen are creditors of Mr. Adcock to con-
siderable amounts, some for expensive goods,
and others for money lent.
The charge against Mr. Adcock is that of
fraud, and the mode in which the fraud was
effected was, we understand, as follows :—The
secretary professedly transferred to his nomi-
nees certain shares (shares really belonging to
other people), and they were then transferred to
purchasers. The transfers to such purchasers
were forwarded, in the usual course of business,
to the office of the company for registration and
certificate. On their receipt, the secretary
placed them, and the certificates to be granted
thereon, duly filled up, before the directors, who
presuming that the secretary had examined the
transfers, and that all was "regular,- granted
the certificates—and the transaction ails com-
plete.

An investigation has been going on at l'ad-
dington during the week, which reveals day by
day further false issues of certificates of the
company. On Wednesday no less than 900
shares were discovered as being fraudulently
dealt with, and it is expected that many more
cases will come to light. The statement in var-
ious new,-papers that Mr. Adcock only realised
a sum of £9,000 on loans is quite incorrect, a
total of £22,000 having been borrowed on the
forged certificates through persons in this dis-
trict alone, during the last eighteen mouths.
The question as to who will bear the loss is
causing considerable anxiety among the scrip
holders, and no doubt they will be glad when
some reliable opinion is given. The directors
are taking the opinion of the most eminent coun-
sel. If the loss fall upon the Stonrbridge share-
holders it will spread over a considerable am-
ount of capital, and will not be felt heavily in
individual cases. Excluding debenture and
guaranteed stock, we are informed that there is
about a quarter of a million of subscribed capi-
tal, on which the £9,000 would fall in pro rata
proportion.