The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1877-10-13
GILMAN, THE SCRIP FORGER.
Sentenced to Five Years Empris.
OnineDt.

New YORK, Oct. 12.-In the Court of Gem
eral Sessions today, VIM. B Gilman, the forg-
er of Insurance scrip, was arraigned before Re-
corder Hackett, TO tender plea of guilty of
forgery. He was surrounded by Lumber CT
respec table looking men, and his confession
was read out BY his counsellor. The counsel
for prisoner appealed to all the circumstances
of the case that might be considered as extenu-
ating.
The confession is addressed to Rev. DR..
Houghton, Gilman's brothers, sisters and init
mate friends, and states that from the time he
began business he had placed in his hands by
friends, sums of money ranging from 500 to
$40 600 on interest at per cent. These sums
named often remain undistributed for long
time, and it was understood that he employed
them in business He never speculated or lost
or won money by wager. He had made invest
ments in enterprises which promised we'll, but
turned out badly. He knew he was running
behind but hoped for better times. But times
grew worse instead of better, and the worse his
affairs grew the more unwilling Will ne became to
deficiencies in the face. His books and &C.
counts were neglected.
Prior to the panic of 1873, he had made prop
er use of the trust unds in his hands, but de-
clniug business and the troubles of that year
involved him in additional losses, and he put
forth first raised certificates, hoping that the
next step would extricate him. He plunged
in deeper and deeper. He could not state with
out reference, what amounts were afoat but
the whole truth would be found at the Ameri.
can Exchange Bank, the Union Insurance Co.,
Commercial Insurance Co., and ii. Talmadge
| & Co. He had not sold any fraudulent securi-
| ties bat had borrowed on them.
He alone was responsible for every wrong act
| and no human being had suspicion of it, He
| was to blame for expenses at home and in bus
| mess, which could not be lawfully met. his
| wife never persuaded him to any extravaganza.
| In addition to these fraudulent transactions.
| other persons must suffer, chiefly his broth.
ers and sisters, probably to the extent of $75,.
| 900.
To sum up briefly, be would say that the de-
| cline in business, bad investments, heavy ex-
penses and personnel extravaganza had betrayed
him. He loved better to give away money than
to spend it on himself. His thoughts and H.
| terests were ever with charitable works.
| After listening to the letter and the remarks
of the counsel, Recorder Hackett sentenced
| Gilman TO five years in state prison. After
the sentence had been passed, the prisoner was
| permitted to visit his office in charge of the
| the court officers. Rev. DR.. Houghton accom-
/ panied Gilman, and with several of his friends,
| was engaged about two hours arranging papers
and preparing for dividend of the assets
among the sufferers by the forgeres. The par
| ty were driven to the Tombs.
| The Sun says Gilman has filed in the regis
ter's Office a deed of trust to Oliver Drake
Smith, conveying irrevocally all his property,
real and personal, for the purpose Of liquidating
as far as possible his Indebtedness.