New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-10-04
THE DISCLOSURES YESTERDAY.


Further investigation yesterday, of the for
geres committed by william c. Gilman, increased the
amount and showed that the principal losers were large
corporations Two private moneylenders, whose names
are not yet made known, were reported as among the
victims one losing S2S 900 and the other $4,000 The
forgeres 1t was found began January l6, 1876 scrip
OF the Atlantic Mutual Insurance Company being al
tered from $50 to 5000. At first Mr. Gilman operate
slowly hut as business losses crowded upon him. he be-
came holder, and recently forgery became an almost
everyday occurrence.
Mr. Gilman largely also in the scrip OF the New
York Mutual Marine, the Commercial Mutual, and the
Union Mutual Insurance Companies but full examina
ton showed that the 0rgeres were strictly cOnhheu 10
the Atlantic Mutual Insurance Company. the American
Exchange and Metropolitan Banks. The American TX
change was the special fayorite OF Gilman ana
the bank where he kept his regular account
In April last he presented Atlantic ms urance SCRIP val
ued AT 800 but raised 20 $4,000 with sixteen genu
inc shares the Bank OF Commerce He secured loan
Of S7I 900 and drew upon it from time to tme' leaving
balance 1000 his credit at the time OF his dsap
pearauee This balance the bank officers have taken pos
session Of and say that, with the Bank OF Commerce
stock it Will reduce their actual loss 20 $4,000 since
these forged securities lodged in the vaults for safe
keeping. the Bank Examiner has made visit, ana
passed upon the affairs o. the bank without discovering
the forgeres "This arises from the fact, bank Off
ca states THAT it is not customary for the examiner
10 scrunize the cOlateras separately, but that from
the statement OF them the balance sheet OF the BANKS
he estimates their par and market values There are
still ftythree shares Of the American Exchange Banh
in the name OF Mr. Gilman, that have not been traced
and il feared that these have been raised The
loss will not fall the bank which is only responsible
for the original number OF shares issued
The refusal of the American Exchange Bank t. honor
checks drawn by Mr.. Gilman is being already felt On
Saturday a number OF certificates OF Atlantic Mutual
scrip were purchased Of James Eaton, for the payment
ofwbicb Mr. Gilman gave his check on the American
Exchange Bank for 81 $40. The check was deposited
that day the Nassau Bank of Brooklyn, and, by neg
lect OF its officers. presented at the Clearing
House until yesterday, instead OF Monday, as II
should have been, and the American Exchange Bank
threw II out. Mr. Eaton threatens a law suit The
American Exchange officers claim that the loss should
fall on the Nassau Bank for the negligence OF its officers
and Mr. Eaton insists that as an innocent party hels
entitled to the face Of his check from the balance due
Mr. Gilman the books Of the American Exchange
Bank Mr. Coe President Of the bank states, III refer
ence To the OF the bank 10y the fOrgore that the
securities were deposited Gilman in person, and
were passed upon avoraby by Of the teers with
out examination. and that this teller had been rep-i
manded for his careessness. Had the securities been
turned over and examined" be added, should
not have accepted them without yerihcaOn, papabe
were the alterations"
The rumor that the United states Trust Company had
been defrauded by Mr.. Gilman, proves to be false. 1t
was ascertaned yesterday that the Commercial Mutual
Insurance Company q few doors from Mr.. Cman's Of
Zee had been heavy sufferer. The President, Daniel
Drake smith, stated that Atlantic Mutual scrip purpOrt
ing TO represent $50, presented by Mr. Gilman,
and s2I 900 was loaned which would prove total
loss The scrip OF the Commercial he said. dealt in
by Mr. Gilman. but OF IL had been altered 1t was
subsequently, asceraned that another lot OF Atlantic scrip
had been negotiated with this company representing
value SO OOO and thai money also loaned upon the
forged bank stock Of the Metropolitan and American TX
change Banks The Secretary. Mr. King. refused to fur
nsh any information the subject and would neither
deny nor affirm the statement From another source II
was learned that the amount loaned TO Mr. Gilman by
tins company was about $4,000 these worthless
cuutIes.
The Home Insurance Company holds a large amount Of
Atlantic scrip, ~ OF which, examination. has
been verified genuine. but no information could be
obtained from those in charge Of the Office. to the
forged scrip rumOred TO have been included IN the lot
which Mr. Gilman secured loan OF $4,000 and those
in position know the facts assert that al least $4,000
Is held hy This company.
AMOUNT OF DISCOVERED FORGERIEs.
The losses are taUs summed up, discoveries