The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-05-12
A SWINDLER'S CAREE r.
ARREST OF WATERMAN, THE LATE DISHONEST
CLERK OF THE PACIFIC MILLs--A CoMpIL-
GATED SYSTEM OF THEFT.


CLERK OF THE PACIFIC MILLs-A CoMpIL-
GATED SYSTEM OF THEFT.
LAWRENCE, Mass. May il, 1873.
G. r. Waterman, who was detected some months
ago stealing large sums OF money irorn the Pacific
Mills corporation, OF which no was confidential clerk,
has been rearrested fresh evidence Of moro ex-
tended frauds. lie was not prosecuted at fret, tho
matter having been compromised by his reunding
the larger portion OF the stolen funds The operations
or this shrewd swinder have covered long period OF
mis- tweny -ivc years Of service and provo HIM be
a bold and daring thief, whose GOODNESS and tact
have Tor so long prevented detection. Ho has
held the position OF purchasing agent siuce his
turn from tho 1865. About SIX years ago the
directors noticed that he had begun vo rather ex
travaganty, and thoy began ~ suspect him OF pccu
is,lou They gradually camo to thc conclusion that
had ncnced systematic career oil crookedness,
making money on MS purchases Tor the
mil. lie frequently questioned to
the sources OF his large supply OF money,
aud always stated tnat no was receipt OF
largo dividends from stock investments anu spccula
tons Tho managers hnaly removed him from tue
position Of supply purchasidg clerk and gave him tho
place OF auditing clerk. whore II was thought he could
do the alton no INJURY II their su spicons were
correct Al this PERIOD nc received ST. 500 year and
living III style that IS, 600 couii hardly sustain
IL vas known that his wne had inherited property
lrou aunt other relations, anu Waterman gave
that the proceeds or Iuterc this aud the
bends on his spccuiations furnished hin Win The
money no expended over and above ms salary.
AN ACCOUNTANTS pExrERous rHlEyiSG.
All the time ne was approprating 20 ms own use
thousands OF dollars winch belonged 10 tue pany
at the ratio Of i,om $2O0U 10 So 200 per month. HIS
method was follow sFvr upward OF five years the
paymaster, Captain Joan R..Roiias III order 10 get
The bsncnL OF Waerman's nGe Abilities account
hau been Ia the habit ci calling hun into his
partmcnt about the nrst OF escn moatn to help him
make up tho time schedules and tue payfoii. Water
man was able TO add NO columns OF figures ut
time, and was deemed almost invaluable IN consc-
queuce. Hero was his opportunity; II $l4U 900 uas
nceaed he made it Siil,U0O, ana that amouut was
Ihcrcup,n sent ior.to the Ireasurer's nfhvc BIOS
tou, and when the money arrived everything was
IN confusion and the UrilliaDs accoun ant asan
master OF The SITUATION. He avstfacted The extra
$1,000, aud $4,000 was divided among the opera
uses. There are, everybody knows, tbIr-
teen weeks ia three months. When The Two
weeks term came round Waterman absifacscd
81. 1000, 50 contGviug II that nc secured So 600
IRON tho four largest rooms HIS continued sx-
trayagance ut last cJuvluced Tho officers tina. Lu
wis taking IN some manner from tho funds OF tho
miil ana tney st about careful examination In July
last inio the Affairs OF tho corporation TINS
tnucd Tor several months before ali the facts We're
asccrlaiucd so skiifuiiy had the sharp accountant
covered his tracks rho officers are now convinced
that be stole money whcn tho opportu UNITY presented
Itscli since hs rst auction with tue nils that
lie did big business 90 bis own account while pur-
chasing clerk, oil which however. proof OBJ
tanned "A has never committed forgery, they say,
because he never had chance. aud what other
deviitry he may have been engaged IN and Wi!
main equally mystcfious
PARTIAL RESTITUTION.
Last september ne vas uriyen into corner When
he got back from his vacation Mr. FalioD the agent,
his power 10 make. Al FIRST Waterman asked. 'wbat
you gong To 40 about ity but, bcng informed
that the oIy alternative wrs arrest ana prosecution,
he proiessed himself ready enter int0 settlement
lie drew up u,rDt conveying 10 the corpo-
ration all his real aud personal estate. Including
the equity on his elegant estate In An
dover. valued At 5000 anu mortgsgcd Tor
$4,000; bIs place IN Meirosc valued at $1,000,
mortgaycd Tor $4,000, and shares IN the New Eng
land Trust company, bank stock auu savings bank
books. He also conveyed 10 tho compauy his stock
In the lvers Piano Company. IN the GioUe Theatre
buidlng, Boston, ON wnicb oniy thirty por cent OF
stationery store OF W. h. Rec, In Lawrcnce, On
winch about twenty par cent has pcen realized, ana
stock ~ various other disastrous specuiations IN
Bvs ana Lawrence In all, Il IS saiu, tho amount
conveyed TO The company had racc value OF about
$TO,UOo Tue shrukasc IN values and the bad nature
OF The Investments nave since reduced this amouuL
liz was tneu discharged Nom The employ VI tho mill.
and notlkng more done by me managers.
LkGAL CLUTCHES.
Tho recent disclosures la Fali River Of tho opera
tons OF CBace aud Hathaway have SO excited pubic
icsiing against all men who nave caught stuaing
other peoples money that District Attorney Sherman
Waterman was promptly arrested on warrant charg-
ing him win embracing 100000 IRON the Pacific
Mills. HIS cxunsive operations ana pronisalc career
Will be thoroughly ventilated ana ~ wall De readily
shown that no Ranks high IN tue band vi swindicrs
that nave USon Tor years prcying ON tho profits vi
MASSACHUSETTS manufacturers.