The Elk County advocate. [volume] (Ridgway, Pa.) 1868-1883, 1876-02-17
A SUCCESSFUL swINDLER.
He Makes and spends Over n Million Doll
lars Before he is Caught.

Among the latest developments in the
way of rascality is that of William j.
Rec, convicted in New York of uttering
forged paper. The prisoner is known
as most daring and expert swindler
and forger, and has had remarkable
and checkered career. He is native of
Denmark, aged about thirty-five years,
of attractive appearance, gentlemanly
address and refined tastes, and is said by
his most intimate acquaintance to be q
most entertaining conversationalist He
came to this country before the war, and
was the possessor of some money. His
first appearance before the public in
New York was as the organizer of a file
dressing company. he claiming to be
the inventor of chemical process by
means of which old files were instan-
taneously restored to their original
roughness, without the expensive pro-
cess of hand dressing. He invited the
leading machinists and hardware mer-
chants of the city to visit his factory and
inspect his process, and by means of
this ingenious ruse caused them to be-
lieve that the files which they had
brought with them to test his patent,
had been operated on by his chemical
process, whereas they had, in fact, while
their attention was directed by Rec,
been made rough by hand labor, as in
the old fashion. On the favorable re-
port of the visitors Rec received con-
tract from the government for sharpen
ing old files, but never received any
money, the fraud being detected shortly
after. He succeeded, however, in
,a1y IN,
Owing to the favorable report of his
factory, he had his stock GALL of which
he issued himselD put on the market
and regularly quoted daily. He paid
few quarterly dividends regularly, and
succeeded in running the stock from
twenty dollars to thirty dollars per share,
while in reality it was worthless, and
when he had disposed of sufficient
quantity at the latter figures, retired
from the concern with fortune of be-
tween three hundred thousand and four
hundred thousand dollars. The file
company, of course, shortly afterward
collapsed, and Rec spent his ill-gotten
gains in high living and the most ostenta-
tious display at Saratoga, Long Branch,
and other fashionable resorts. He be-
came acquainted with the wealthy and
fashionable widow of Commodore Levy,
then possessed of a fortune of some four
hundred thousand dollars, and married
her. They lived in style, and Rec in
vested the money i'll his possession in all
kinds of speculations. He carried fabu-
lous sums of money ON his person, and
was known to gamble extensively. He
ran through his money eventually, and
was in rather straitened circumstances,
when an aunt of his wife was one morn
ing found dead. On opening her will it
was found that Rec was heir to most of
her wealth, but this second fortune he
squandered as he had the first. He
then became engaged in a number Of
swindles. almost too numerous to men
tion. He got into the confidence of
wealthy men, and it is said that since no
has been operating he has realized over
million of dollars, ell of which he has
spent in riotous living. He was sent to
State prison.