New-York tribune., 1873-09-02
FORGED BONDS IN WALL-ST.

IOlGED DONDS IN NALL-Sl'
Renewed rumors of additional frauds char
acterized the opening of business in Was yesterday
and the greatest anxiety experienced by those who
had certificates bonds of character which had come
under suspicion All who held the bonds Of the New
York Central Railroad Company sent to the transfer
agents and the principal offices Of the Company to as
certain whether they had good fraudulent bonds.
plumber of fraudulent bonds thus discovered and
their owners conveying them to their respective Offices
Immediately took such measures lay within their
power to make reclamation. While the interest
in the forgeries was at ITS hight IL
reported that frauds upon several other moneyed c0rpo
ratioHs had been discovered, causing considerable
CONSERVATION those who held interest in the
respective properties Among these corporations were
said to be the Central Railroad Of Eew-Jcrsey, the
Western Union Telegraph Company, and the old New
York Buffalo, and Erie Railroad The bonds OF all these
companies were said be sklfuly counterfeited aud
largely distributed through the street." Indeed it
was even asserted that the bonds had been
circulated in the London market On the
other hand. IL was stated by those who professed
to know that the reports of the New-York Central
forgeries had been very exaggerated They declared
that the far discovered had only reached
$4,000, II claimed that the total amount Of NewYork
Central rs Of 1876 outstanding is only sl9jCOO and
almost every one IN banking and financial circles is
familiar with this fact and to suppose that S5OOOO OF
these bonds could be hypOthecated with one institution
or that brokers in Wall-st could be induced to buy
$4,000 of them, is ridiculous No forgeTies on other
issues Of the York Central have been discovered.
The detectives reported that their information 10
the effect that forgers the extent of 100000 had been
perpetrated on the bonds Of the Western Union Tele
graph Company Application the oflcus of the Com
pany however failed to confirm this statement and the
transfer clerks at the UuOn Trust Company did not
know Of any forgeries
No specific information in regard TO the alleged frauds
OH the NewJersey Central obtainabe from the de
tectyes who reported that there foTgeres upon
for $4,000 Perhaps the most important fraud OF the
number is that on the bonds OF the NewYork Buffalo
and Erie OF which less than 500 600 OF the genuine
are supposed 10 bo in existence. 10 is stated that
there is in circulation in Wail-st about SlOQOOO
worth OF these bogus bonds. II is however d1cut TO
ascertain amount Of the names OF the firms who
have been swndled these securities, as publicity
would impair the credit OF the lenders. About three
months ago NewYork, Buffalo, aud Erie bonds were In
extensive circulation ia Broad and Waists, and efforts
were actively made by small commission brokers to
effect loans upon them batch OF 100000, probably
bogus Just discovered, offered to member OF
the Stock Exchange and he was asked TO sell it at the
Board of brokers' he declined to receive the bonds
number of houses have been defrauded by these
issues and il is not improbable that small house may
be compelled to suspend. The greater number of the
bonds however have been so distributed that 1t is not
likely that any other houses will be materially injured,
Five houses, 1t is sad, have been made Victims Two on
Broadway one or two on Walst. and one on Broad-st
Inquiries at the Offices OF the brokers who we're
Instrumental in causing the discovery OF lhe
fraud failed TO elicit any information Sanders * Har-
denbergh said that there no new developments;
Olcott Co. Eddy Co., and the Others made siDllar
statements Mr.. Denny, OF the Stock Exchange, had
additional information but deemed IL impoltc TO have
II published He states, however, that the New'fork
Central forgery was probably oyerestimated and that
the heavier fraud would be found In the Newfork Bur
falo a Erie This suppostIon confirmed by the
police who have succeeded in aresting one oil the SWIM
dlershnterested in these spurious bonds
The general opinion in we-informed circles s mat
Williamson johnson, and probably others AS yet uh-
known are part OF q weorganlzed band OF swndlers
and forgers who have periodically radcd upon the cof
fets OF the dealers in Wa-st That they understand
their pefarious trade Is evident from the fact that
the forged bonds admirably executed AZ was amply
proved by the test 10 which they were subjected.
They appear however, 10 have confined themselves 10
bonds this time the theory being that they Ind 1t
easier 10 forge eoarsely printed bonds than weli
engraved certificates stock the moneyed corporations
having taken such precautions With the latter as 10
render il very difficult raise Or successfully engraye
them except al great risk and expense.
G. W. Maror one Of the clerks in the sub-Treasury in
this city Yesterday discoverd very fuely executed
Of the $500 United States legal tender note
among the public money. careful examination viii
be made Ia discover whether there any more Of tue
same kiud in the building