The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-08-15
WALL STREET NOTES.

THE BOND FoRGERIES-PLAN OF THE FARMERS
LOAN AND TRUST COMPANY THE RUMoR
COMMITTEE TELEGRAPH GOSSIP AND RAIL-
WAY DIVIDEND
The detectives lately engaged in the important arrests
Of the supposed bond oger already described in these
columns, were on duty yesterday in Wall street and
ported that revelations had taken place IN
necton Herewith 1t behooves however, the bankers
and money lenders to look sharply after suspicious
characters and especially TO accept the sound advice
given 70 q HERALD reporter by Mr.. Eugene Kelly, TO
wit
mo NO BUSINESS WITH STRANGERS"
1t is notable that nearly all OF the discoveries Of forged
securities due to the merest accident II the clerk
Of Messrs- Fisk Hatch had not noticed that num-
bered coupon OF the California and Oregon Railroad had
been already paid there is question that tho dis
covery Of the fraud would have been delayed many
months which would have enabled the counereitors to
food Wall street with their admirably executed bonds
1t was an oversight not in rogues Of such
complshment In cutting or the July coupons of the
bonds If this had been done they would have re-
manned safely in the bank vault until January 1915
THE BARMERs' LOAN AND TRUST COMPANY,
corporation which is the fiscal agent of many OF our
great railroads has an admirable plan 6y which frauds
of this character are quickly detected For every road
company OF which they are the duciary agents they
have book which is divided into coupon squares, all
numbered according to the bond numbers As soon as
coupon Is presented Is pasted on its appropriate ana
corresponding space and Of course duplicate is Of
fered a swindle is at detected. This simple and
ingenious plan might well be followed by bankers and
others who deal in securities.
The four persons in custody at Police Headquarters
are TO have hearing tomorrow, and the District Attor
ney will conduct the examination for the people VIII
lam Rae, Of the implicated parties is said to be
we'll connected socially having married some years ago
the daughter Of Commodore Levy Of the Navy Of the
United States For long time he was considered TO be
wealthy and reputable stockbroker but ne hnay lost
believed to have been associated with tho men con-
cerned in the Buffalo and Erie forgeries
another OF the prisoners is believed to be The party
concerned in the fraud Of the Erie City Water Loan
bonds which were stolen unsigned the signatures af
terward forged and the bonds passed He arrested
in 1873 in Pennsylvania charges OF the same charac
tor but somehow escaped the clutches of the Law.
RECORD OF HAzEwELL
has been pretty well set forth in HERALD Notes and
1t only remains to be how far heean be implicated
been found the dexterous hand which traced the sig
natures the bonds and forged the of the rus
tees, Calhoun, Huntington and Kelly; these are speci-
Of remarkable proficiency in all styles of penman-
ship, the signatures being utterly dissmilar
RUMoR COMMITTEE
seemed to be In session again yesterday on the STOCK
Exchange a slight decline in Pacific Mail stock was
attributed to accident to the steamship City Of
Picking but inquiry failed elicit any confirmation of
this rise in Rock Island shares the signal for
hints a distribution Of stock and an extra dvi-
dend The President of the road, Mr. John r. Tracy,
denied this The ingenuity Of the brokers is marvel
ous considering the state Of trade as well as that oil the
thermometer.
Messrs William L. Montague date OF Hazard Mon
tague) and p. Fleury Moelay (ate with Rowland AS
pinwall have formed copartnership as Montague
Motteay, for the transaction Of stock and gold COM
mission business at No &C Broadway and No 10 New
street
No developments regarding the consolidation OF
Western Union with Atlantic and Pacific Telegraph Com
pany were made yesterday II generally conceded,
however that the consolidation virtually effected
and that all the delay in announcement resulted from
the discussion details Higher rates for teegaphy
were predicted as the immediate
RESULT MONOPOLY
being able TO control the rival line.
The Chicago and Alton Railroad declared dividend OF
four per cent (semiannual on both common and pre-
ferred stock payable at the banking house Of NJ h Jes
sup, Patton Il Co., Of this city.