The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1874-02-24

the stockholders, they express a confident
hope that by thus taking possession of the
whole bill, and effectuslly thwarting the es-
adjustment OF a rival company, the ulti-
mate value OF the stock will be in no way
diminished, and that reasonable dividends
can be paid at no distant day. Yours truly.
0SignedfWilliam Orion, president.
Hardly had the recording of this letter
6een finished, when one of the pages of the
board was handed another letter addressed
TO the vice president, which was read by
that gentleman as follows:
Toledo, Wabash and Western railway;
New York, February IL, 1874.
10 the vlcepresldent of the New.York ex-
change. In accordance with rules of the
New York stock exchange YOU
are hereby notified that at the expiration OF
30 days, this mpan will issue 100000
shares additional capital stock, increasing
the common stock of the company from
Sl5, 900, 600 to S25, 900, 900. The proceeds of
such additional shares will be used for the
purchase of new rolling stock and engines,
and for REPAIRS of the present rolling stock.
for constructing an additional double track.
tor the purchase of steel rails, for obtaining
improved terminal facilities, and for other
similar purposes OF the company.
Very respectfully. J.. d. Cox.
The reading of these letters caused great
excitement on exchange, and Immediately
there was a general stampede to all stocks,
especially Western Union and Wabash.
Amid the general confusion scme members
OF the board had the good sense to examine
the letters, and being familiar with the sig
natures of Messrs. Orton and Cox, pro-
nounced the same forgeries. The officers OF
the exchange Immediately sent the letters to
the office of the Western Union Telegraph
and Wabash railway. The Wabash letter
was returned with the following note at the
foot:
"The.a above is not genuine. Mr.. Cox is in
Toledo. There has been no,meeting, neither
Is this Mr.. Cox's signature. (Signed,) b. w.
Briggs, Transfer Clerk"
Mr.. Orion sent the following reply on be-
half of his company:
New YORK, February 18th.
To II. G. Chaplain, ESQ, President ofthe New
York Stock Exchange:
L have just learned that an announcement
has been make in Stock Exchange, that the
directors of the Western Union Telegraph
have recently voted to increase the capital
stock to 100000 DOC. This announcement
has no foundation in fact. No meeting of
the directors has been held for several
months, nor has the matter of the increase
of capital stock of the company been a SUBJ
ject of consideration at any meeting of the
committee.
Respectfully,
WIN. ORION, President.
Detectives are already on the track
VI N4O VI Vi Il
is expected that a handsome reward will be
offered for the arrest of the forgers. The
vice president was blamed by some of the
members for reading the letters without
first consulting the president of the ex-
change, and it is stated hat this matter is
under discussion in the governing commit
tee. Every effort will be made to ferret out
this audacious swindle on the stock ex-
change.
The Commercial says: The most suspicious
feature of the nefariOus transaction is Mr..
Wheelock's assuming to act as vice presi-
dent and reading the forged communications
from the Western Union and Wabash
offices when he is nothing more than
chairman of the floor committee. Wheelock
is an old member of the stock exchange,
and has sustained a reputable character up
to this time. 1t behooves the board to in
quire into his dealings in those stocks re-
Gently, as we'll as to find out who have been
of late buying and selling for themselves
and for other parties. The oTa est w estern
Union stock after the forged letters were
read, amounted to $1,000 shares, and of
Wabash to 20 1000 shares.