Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-04-07
REMARKABLE FORGERIEs.

REMARKABLE FORGERIEs.
A Leadina Business Man Of Indianapolis
Goes Into the business on a Large Scale
For several days past the telegraph has
been bringing intelligence relative to the
Bugbee forgeries which have shaken up In
dianapolis so thoroughly. An Indianapolis
letter of the 18th gives the following state
ment of the case:
What the Winslow forgery was to Boston,
the forgeries, made public to-day, Of Joseph
W. Bugbee, are to Indianapolis. As yet they
are known only to a few, but, when the
morning papers make the news public, 1t
will prove the most sensational event IN
Indianapolis history. Bugbee has been one
of our most honored and respected citizens,
believed to be perfectly solvent, and never
suspected of anything dishonorable. his
business reputation and creelt have been ex-
cellent His attorney, Charles z. Jacobs,
who has done all his legal business for the
past three years, was overwhelmed with dis
may when the reporters conveyed the intelli-
gence to him tonight. Not one word had
Bugbee ever breathed to him, nor even to his
father-in-law, the Rev. L. G. Hay. who was
Frustrated to-day when he was first informed
of his sons disgrace. Bugbee came to In
dianapolis in 1870, and soon established
standing for wealth, push, and business
ability. He was the representative of Holt q
Bugbee, of Boston, and, beside his lumber
business, entered deeply into
real estate and buildings. He put up two
large and handsome business blocks. It is
his real estate speculations undoubtedly that
led him to the commission of his forgeries.
He was very highly respected, and is now
serving his second term as member of the
city council, being one of it's leading and
most useful members. The story of his
crime, so far as is known, is about
this: Last Sunday he called his
wife and his father and mother to him
and confessed to them that he had been
doing very wrong,-great wrong,-and that
exposure must come. He then sent for a
business associate named Lyons, and to him
made detailed confession, giving names,
dates, and amounts of notes outstanding,
which he had forged. Lyons made memo
randum of them ali, and then told Bugbee,
he knew not what was the right course to
pursue, but by advice, he started at once for
Boston. Arriving there Tuesday, he handed
over the confession to Holt & Bugbee,
and it is now in possession of Mr.. Holt.
John B. Bugbee, of the Boston firm, started
at once West, and arrived here to-day with
Lyons. He is too Frustrated and excited to
make any statement, but, with Lyons, has
gone hurriedly over the indianapolis blotter,
and has found in that numerous false entries
of sales which are said to have been paid by
notes-no doubt the ones forged. Tomorrow
a systematic and thorough examine
ton of affairs will be commenced, and the
facts made known. So far, it does not ap-
pear that Joseph has used the name of any
Indianapolis firms, and no Indianapolis bank
loses. It was a custom for Joseph to send
the notes to Boston, where the firm of Holt
& Bugbee Endorsed them and discounted
them, they being returned to the banks here
for collection. Bugbee made arrange
ments here to take up the notes,
and, therefore, the parties whose
names were used never were
notified of their existence. When he be-
came powerless to protect them longer, he
let go, and in one of the drawers of his desk
was found a letter to-day from Louisville
firm saying they had been informed of a
note held against them by Holt & Bugbee;
that they had never made such note,
and demanding to know of the bank
here who sent the notification by
whom they had been imposed upon.
The bank of course turned the letter over to
Bugbee, who found the end had come, and
anticipated the crash. Bugbee cannot be
found tonight. The employees of his lum-
ber-yard say they saw him this morning, but
he is not at home, and his father-in law
states that he has not seen him since last
night, when he was suffering from severe
headache and incipient fever. The forgeries
acknowledged to by Bugbee amount to ST. 49,
900, as stated in the associated press dispatch
from Boston.