The New York herald., 1874-10-01

Raising Money ON Encountered Prop
perty - Offering Worthless Bonds -
Where is the North Shore Railroad Of
Long island!
About two months ago short, thlck.set man
called on Mr.. Tcrrench at his office, No. Is New
Church street, and offered him mortgage on six
teen lots III Newark N. j., on very favorable terms
Mr.. Terrench took the proposition into consdera-
tiOn and after paying lawyer, whose name does
not appear, $75 for examining the land, the title
SC. was informed by him that the property was
good and the speculation very nne one. Acting on
this advice mortgage for five hundred and some
odd dollars was drawn up. and the money paid to
the little man, whose name is Joseph Beck. On
later investigation Mr.. Terrench discovered
that the whole property was not worth any
more than the mortgage money he had
paid on IL, as 1T was fully covered with other mort
cages. Recently Beck was informed that his
swindle had been found out, and he protested
that the mortgage was good, stating to Mr.. Ter
rench that II he ala not consider tine mortgage
good security he would Introduce o mnn VINO
would te willing to trade good railroad securities
Sr the mor,gage TIE uss man was vas; ntrodneea nn n
OF the North shore Railroad OF Long Island which
he would excnange for mortgages on such prop.
erty as he knew Mr.. Beck owned. lhe PROPOSE
ton seemed fair, and Mr.. Terrench took the
name OF the Secretary, as written on one
Of the bends wnca Mr. Hess presented The
).
Mr. Hess had departed Mr. Terrench went around
to the Office OF the North shore Railroad to inquire
about It's bonds. At No. 16l Maiden lane Mr.. Lee,
the Secretary OF the Nor til Shore Raiir Of Long
Island, was asked for. One Oi the clerks said that
the North Shore Railroad OF Long Island had no
office there, but that the North Shore Railroad
Company employed him as clerk. The secre.
.ary's name, he SAID, was Mr. Thomas Messenger,
aud he could he seen IN the back oficc Mr.. Ter
rench had u short conversation with Mr.. Messin.
ger and was satisfied that the bonds which Hess
presented were worthless, and that the whole
"A
around yesterday afternoon TO conclude the nego.
tlations ior the mortgage he was handed over TO
the custody OF Onlcer Buckrich, together vita Mr..
Beck. who was near by.
When the prisoners were brought to the Tombs
Judge Fammer asked the complainant what proof
hc mad that the bonds were spurious. As evidence,
q card on which Mr.. Messenger mad written de-
NAL OF their genuinencss was produced. The
Judge ola not consider y sufficient evidence, so ne
sent an officer down TO No. 16l Maiden lane lor Mr..
Messenger, who, at about hafpast four O'Clock,
appearea in court He said he did not know OF
any sucn company as the North shore Railroad or
Long Island. lie was OF pelieI that such COM
pany had started In 1870, but he had no Inferma-
tlon Of any works or building done oy them.
During the last lour months he SAID sever al poor
men mad called at hrs Office and presented for
payment coupons Of ponds such as Mr. 1errench
nad been offered. The parties informed him that
they had bought them III good faitn rom men VINO
pretended TO he connected with inc road. He did
not know the market value OF the bonds; III iact
he dId not think they had any. He was informed
that some Long Island men had bought the bonds
Ior mere sony at a sale, aud were now selling
them Ior whatever they could get
ON TINS Information Beck and Hess were re-
nanded to the station house. They will be fully
examined to-day, wbcn possibly MI. Hess WIN be
able 10 show how he came hy the bonds and how
much he paid On them. AT the informal cxanina
iion yesterday he said he had bought The two
bonds which he presented Ia MI. rerreuch from
Mr. Ileiche, OF No. 49, Broadway and that he had
others which he had purchased elsewherc-from
whom lie could not remember or when.
u VIII be remembered that y lew days since