The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-10-03
Excitement ON Wall street.

avn" AOhht NINOuGl w al bNIEtk u
excited because VIM. c. Gilman, dealer
in insurance scrip, has borrowed large
sums OF money on such scrip which was
irHudnlently raised. AZ one bank he
borrowed 1000. Additional discover.
les are being made. Gilman was in town
this morning, but cannot now be found.
The Evening Post says: It was scrip oi
the Atlantic Mutual Insurance Company
that had been raised. The amount Of the
raised certificates, az far as found, Ia
$4,000. The company will lose moth.
ing.
Mr.. Gilman, II seems, obtained two
one hundred dollar scrip certificates on
the Atlantic Mutual Marine Insurance
Co., which were raised 10 ten thousand
dollars each and hypolhecated with
Henry Talmage & Co. by loan OF Sls,.
The American Exchange Bank say they
hold several certificates, amounting in the
original TO 81 ,2GO, but have been raised
to $S7 ,42O. An additional number is said
TO be out.
Peter B. Sweeney and Hugh Smith, Of
the broken Tammany ring, sold to-day
real estate which brought 1851 900.
Henry Talmage 4 Co. bankers OF No.
50 Pine street, applied to the Third Ma.
tionNl Bank on Monday for loan, pre-
senting two certificates Of scrip Of the At
lantic Mutual Insurance Co. ior $4,000
each US collateral. The bank officials ac.
copied the securities and sent them 10 the
Insurance Co. for identification and Ger.
tiIication. They were informed later in
the day that the certificates were not
genuine, but had been raised frem 800
each, the amount Of which they were is.
sued. in 1876 to William 9. Gil.
man, broker in insurance scrip at
William and Pine streets. This discoy.
cry was made public this morning and
the banks where Mr.. Gilman transacted
his business was the scene OF unusual ex.
citement. The vaults were opened and
his securities closely scrutinized. AT the
American Exchange Bank ten certificates
OF the Atlantic Mutual Insurance Com.
pany were found, representing mn aggre.
gate value Of SS7,32O, and messenger
was hastily dispatched to the office OF The
insurance company to ascertain their
true value. A careful comparison OF
dates, names and amounts proved that
'nese Geriilcates had been originally pur
CHASED oy William Z. Gliman atdllierent
,ineS ,n during Inc years 1870, 1876 and
1877, in various sums, aggregatlng only
81 ,2G0, on this lot OF certificates hypothe.
Gated at the American Exchange Bank
torSeT'es' amounted 10 So"OVo.. These
forged cer1lncates were presented Nt the
oanS anu deposited ny MI Gilman in
pe"Son' ana 80 h'ghIy vas he esteemed by
Tue oinelSlS mat 'hey were not critically
examined AMI the amount o' money he
iIelues'ed was promptly paid TO HIM.
lh'S amount was ssilmnted BY one ot the
clerks AZ between Soo,VUO and $4,000.
Information was received later that an
G!her set oi these cerliilcates had been
purporllng TO have been is.
sued Tor S25,OOO, which as OFigl.
naIiy Issued to Mr.. Gilman were
Tor $3.50. a Trust Company, the name
OF which could not be learned, also sent
in long list OF securities, upon which
loans had been effected for a large
Fifteen otthe twenty.four Ger.
tiicates held BY this institution were not
altered, but the remainder had been
raised from 81 400 10 s. 1000. No system
had been adopted in making the iorger.
les. In one caSe he had altered $50 Ger.
tilicates to $4,000. When his needs
we're not urgent he would deposit the gen.
ulne scrip, obtaining such pgr centage as
the bankers would advance. The forger.
les we're confined to small certificates, the
original amounts ranging from $50 to
500. As far as the Atlantic, Mutual
Insurance Company is concerned, all but
three OF the certificates Issued to Mr.. Gil.
man have been acCountcdior, and these
arc Tor Sl00 each. 1t is thought probable
that these have been altered, like others
OF the same value, to $40, 900 each, which
would make the gross amount Of forger-
ies on script as follows:
Third National Bank, real value 5000,
forged amount O,O0Oi American Ex.
change, real value ,26O, forged amount
81 $40; Henry TalmaGe " Co., real value
s8oV, forged amount SO QUO; Trust Com.
pany, 81 400, forged amount S14 600; out.
standing certificates 500, forged amount
s"O,VoO; total resi- value $500, forged
amount S23O,5rO. 1t was stated this
evening that two shares Of bank stock
were aIso forged and IN this latter
ca case Sl.i i0o had been raised to Sll 900.
LAis VIII increase the gross amount Of the
i9rgeries to S24',S9o. The alteration in