The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-05-15
A Boston Broker Raises Money Rap
idly by Raising Certificates.
$4,000 SWiNDLED
Bankers of the Hub Greatly
Excited.
Arrest Of Coe, the ''IrreguIar'' BUSH
ness Man.
BOSTON. NAV IA, 1879

BOSTON, MAY IA, 1873.
Another irrcgulariry occurred on State street
to-day OF such a nature too. that the authorities
place the amount OF bail at 100000 The cuprt
in the case is James A. C0e, stock broker doing
business ut No. rs. and high liver generally. On
Monday last u merchant desiring loan from a
Boston bank deposited with the cashier, as col.
lateral paper which purpOrted to be certificate
for 100 shares Of the Old Colony Railroad drawn In
the name OF leading firm, and endorsed by the
same firm.
FIRST DISCOVERY.
The cashier did not like the appearance OF the
paper. and on examining 1t made the discovery
that the document had been altered from lone"
to zone hundred, !" and that the name in which 1t had
been issued had been erased, and that OF
the firm in uestion substituted. The endorsements
OF the firm the back was genuine evidently
placed there by them under the impression that
the paper had really been issued in their name.
On inquiry at the Old Colony office 1t ascer-
tanned that the certificate in question had been
issued to j. A. Coe as certificate for one share.
The gentleman who brought the certificate to the
bank was advised to go to work quietly and get
b ack the money he had loaned on the paper, which
he did.
ANOTHER HAUL.
Subsequently it transpired that certificate for
100 shares OF Eastern Railroad stock had oecn de-
posted in the Massachusetts Bans, on which a
large sum OF money was loaned The certificate
was made ont In the name OF the bank.
On inquiry at the Eastern Office 1t was found that
this also had been originally one-sharc certificate,
issued to Mr. Coe, ana that it had been altered to
zone hundred" shares.
THE HEAVIEST DRAFT OF FUNDS
that has been developed was that made on Mr..
Nathan Matthew'S on certificate OF 200 shares OF
Albany Railroad stock and other collaterals. Mr..
Matthews had recently loaned to Coo large sum
of money-S40,000, 1t Is said. Had the certificate
been correct it would have represented a value OF
$4,000. An examination by several bank officers
this morning revealed the fact that this also was
an altered certificate, having been issued as
drcd." The cashier found that the certih-
cate in question had been originally
issued In the name OF III. L. Coe," and rcceipted
for at the bottom by J. A. Coe.
STILL THEY COME.
Subsequent investigation showed that Coo had
made the following changes in share certlfcates:-
Old Colony Railroad Company. one certificate from
two shares to two hundred and fifty shares; one
certificate from shares to thirty-two shares.
one certificate from two shares to TWO hundred
shares, one certificate from one share to one hum
bred shares, one certificate from two shares to two
hundred shares, one certificate from one share to
fifty shares.
There are other certificates in existence. Among
them certificates Of shares Of the Boston Water
Power, denomination not known; one certificate
! OF the Eastern Railroad Company altered from one
share to one hundred shares certificates Of shares
| of the Fitchburg Railroad, denomination not
known; one certificate OF the Boston and Albany
Railroad Company, altered from value OF S25, 600
TO $40, 900, or from two to 200 shares.
LOSSES