The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1878-04-10

at the once OF the INDIANA Dddk1ng
company where they were made Payable.
This he was enabled to do by means Of liberal
drafts on the Boston house. The forged notes
were mixed with genuine ones, and thus an
additional element of safety was found How
long this state ofthings might have continued
it is impossible to say had not an accident or
carelessneSs betrayed him.
THE FIRST ISTIMATIoN
Messrs. Hall & Bugbee had of the crookedness
was given about a week ago by a letter from
Messrs. Davis, Moody Il Co., of Louisville
Kentucky, who wrote that they
had received notice of note
of theirs coming due, which had
never been signed by them. They wanted to
know what this meant, and it is supposed that
Mr.. Bugbee, of this city, forwarded the letter
to his brother in indianapolis, with the same
query; at any rate last Saturday the forger
sent for Mr.. a. J. Lyon, OF Indianapolis, and
that gentleman found him completely pros.
,raled, wringing his hands and moaning.
az AM RUINED, 1 AN RUINED"
He at once acknowledged his miSdeeds, and TO
Mr.. Lyons question If he had a list of the
forged notes, responded in the affirmative and
produced the list. The names of the victims
are as follows: T. ". Harvey * Co., Chicago,
ID notes aggregating about $1,000; G. Henshaw
& Son, Cincinnoti, u notes, about $1,000:
II. Osterman, Cincinnati, eleven notes,
$1,000; James Gr1fiiths & Son, Cincinnati, ten
notes, $4,000; Homes & Co, Chicago, nine
notes, $1,000; Palmer, Fuller * Co.
Chicago, seven notes, $1,000; Maule
Brothers, Philadelphia, seven notes
$1,000; f. r. Walfnger d Co., Chicago, six
notes, $1,000; IL. L Holden, Chicago, five notes
5000; F.. X. Moore, Philadelphia, four notes,
$500; Bailey Sons, Philadelphia three, 81 600;
]. j. Green, Trenton, New Jersey, three notes,
$500; Benners, Hayward & Co., Philadelphia,
three notes, S4U00; W. H. Bush, Chi
cago, two notes, $50; Kautsky * Co.,
indianapolis, two notes, $500; Lewis
Thompson q Co., Philadelphia $500
James y. Nurre, Cincinnati, $500; L.
A. Stroebel e Co., Cincinnati, HIGH; Davis,
Moody Co., Louisville, KY. $3.50 81 /;
W. ID. Chapman, indianapolis, S6s7 IS;
B. Gill & Sons, TreDton, Nj, S525. 81; Edgar Mum
son, Williamsport, Pa, 81 ,2n "a; Hatch Holbrook
& Co, Chicago, SI670.46; l.. NJ. Teal, Phillips
burg, N. j., S7ls22; James Foley, Chicago, 1884;
Neither & Son, Cincinnati, SSlO.66; A. NJ.
Quimby K Co., Wilmington, Del, Sl,5S33l; G..
W. Hinkler * Co, Chicago, 1921. This makes
grand total of SlSi,739 so, and is supposed TO
represent the present extent of the outstand-
ing forged paper.
The revation was
GREAT SHOCK
to the firm, who have always ranked high IN
the estimation of all who had dealings with
them, and there is no evidence that they had
the least suspicion of what their indianapolis
agent was really doing. The notes were al
most invariably drawn for two or four
months. The signatures were uniformly
natural and precise reproductions of the
genuine. Four Boston banking institu-
lions took The paper without question
and it is in their hands now.
so far, as it remains unpaid. Ii must be re-
membered that many genuine notes were
sent east by Bugbee, and that all
were discounted alike. Consequently
the fact that bank holds
Holt * Bugbee paper is not proof that the pa
per is bad. Yesterday a Boston bank which
holds paper scheduled as forged, re-
ceived the cash on OF
the notes thus clasSed. When the
true condition of affairs was revealed
in Boston, Mr.. Bugbee started at once
for the west, ard an officer of
one of the Boston banks went along to look
out for the interests of creditors. Mr.. Bugbee
yesterday telegraphed to his partner here that
it was the advice of counsel to put the firm into
bankruptcy, and this course will accordingly
be taken. That such necessity exists is
\ SURPRISE
to those fYmiliar with affairs as they appear
in Boston, and is interpreted TO
mean that there are villainies
in connection with the matter
which have not yet fully developed them
selves. The genuine debts OF the firm of
Holt & Bugbee are only about $4,000, and
if the amount of forged paper bearing their en-
dorsement were but the Sl3l,OOO reported they
have undoubted assets sufficient to more than
meet all claims.