New-York tribune., 1880-01-09
A STARTLING DEFALCATlON.

SUDDEN DEATH AFTER luE DiNNO' T'''
FRAUDS DISCLOSED by TRANSFER of HE
BANK ACCOUNT OF THE EXCHANGE.
Frauds on the Produce Exchange to the
amount of $31, 900 have been discovered
The defaulter was Benjamin G. Bogcrt, VINO
had been Treasurer of the Exchange loI
many years. and was a highly respecteu
merchant in whom general confidence was iell'
Mr. Bogert did not appear at the Exchange or
at his Office after the discovery was madc'
and died suddenly yesterday afternoon
~ the house of friend IN tins cl'y'
1t is thought that unable to bear his disgrace,
he NAV have committed suicide. The disclos-
ure of the defalcation was due to the determl-
nation of the Finance Committee OF the Produce
Exchange to transfer the account OF the hx-
change from one bank to another. Mr.. Bogert
is supposed to have used the money which he
took in his private business.
THE PRODUCE EXCHANGE ASTOUNDED.
FINDING IT'S TREASURER DEFAULIER-THE Gu
R1ors WAY IN WHICH TIE DISCOVERY WAS
MADE-CAREER OF TIE DEFAULTER-TIlE
AMOUNT MISSING S31 800 DEATH OF Mr. DO
CERT
Just before the Produce Exchange closed yester-
day and when there were only - few members on
the flOOr, II was tliiOItu Ibdl thc bH"'"i'A VI ~
Exchange, Benjamin c. Bogert, had disappeared
and was a dcfauter to the amount OF sew
cral thousands of dollars, and that the
discovery had been made at a meeting Of the Board
of Managers III the morning. The rumor created the
greatest astonishment, and those who had heard
it would not believe it true. as among
the members of the Produce Exchange gem
orally there was not shadow of suspicion
against Mr. Bogcrts integrity, and his accounts had
been without q fault during his treasurership,
which has existed since the organization OF
the Exchange. with Tie exception of one
year. Upon inquiry of some of tho
directors, reporter of The TRIBUNE was referred
10 President Ilncl,cn, who had gone TO his home nc
Fathush. Mr. lImclen expressed regret that the
dcfalcaiion and disappearance OF Mr.. Bogcrt
had become public so soon, as he hoped the
treasurer would return and make restitution, and
save himself from public disgrace. Bat" Mr.
HHckcn said, "thc fact that Mr.. Bogcrt has sud
denly and mysterionsly disappeared and that he is
a dcfaultcr to over $4,000 cannot be denied"
Mr. Hncken did not hesitate 10 ST ltc al the facts
Of which he was in possession, although he did II
with much feeling for Mr. Bogert So far as they
have been developed by partial investigation. the
facts are rs follows:
FIRST SUSPICION or THE CRIMr.
Al a UlftllllB fl NV IlHdu'' Commute VI '''
Exchange. which is composed Of Forrest II. Par
ker, James +. Joyce ard Samuel Jacoby
Mr.. Borert and President Huctcn being pres-
cnt, Mr.. Bogcrt presented statement
Of balances showing contingent fund
on deposit in n certain bank Of a little over
50 /. 800. Mr.. Jacoby remarked that he had heard
that the stock of the bank mentioned was sell
ing in the market at G7, and in that
case 1t might be- advisable 10 transfer the
funds to tho Corn Exchange Bank. Mr.. Bogert
replied that the stock OF the bank mentioned
was worth so, and that price was now offered for
it. Mr. Jacoby thought that 1t would do no harm
to transfer the funds of the Exchange, where
upon Mr.. Bogcrt suddenly turned pale. This was so
perceptiblc 10 be noticed by most Of the MEM
bers OF the committee, aud an cvaslvo and con-
fused reply from Mr. Bogert aroused their sus-
pcions. They then concuned IN expression
Of opinion with Mr. Jacoby, and thought
that tho matter should bc attended to at
once Mr. Bogert said that it would look strange
TO have the funds suldculy transferred from the
bank, where they bad always been deposited, to
another.
Mr.. IIinckcn withdrew from the committee meet
ing before it adjourned. remarking that there was
no reason for speedy action. He had not OBJ
served anything suspicious In Mr.. Bogert's
manner. Wednesday morning President Iiiuck-
EN- found lying on his desk n resolution
passed by the Finance Committee to
transfer the funds without delay. Mr.. lIincken at
once sought Mr.. Bogcrt, VINO on the grain floor
at the time. and told him of the action of the
Finance Committee, suggesting that It bc
attended to Immediately. Mr. Bogert re-
piled that it would place him in an en-
position with the bank 10 have
the funds transferred in entirely, whcrcUpon Mr.
IIncken remarked that as it was the action Of the
Finarce Committee, without the suggestion of
Slr. Bogert he could so inform the bank
officers, and thus be relieved from any unpleasant
feeling which might account of the
As the Finance Committee felt par
ticularv alarmed check drawn on the bank
for $4,000, payable to the order of another
bank, which Mr.. B,gcrt promised to return to
sign when made out. As it drew near
} O'clock and Mr. Bogcrt did not appear, the cash
er was sent to his place of business whore it was
learned that he was not in aud had probably gone
for the day"
now THE DISCOVERY WAS MADE
The matter then laid until yesterday
morning. when the cashier again sent to Slr. Boz
gerts ce. and learned from one of his sons that
he had not been at home since Wednesday morning.
As he said nothing about expecting to be
away all night some apprehension was caused.
Later in the day Mr.. Bogerts wife and daughter
called at the store TO if any information had
been received from HIM, and felt considerably
alarmed when they were told that it was not known
where he was.
The cashier returned to the meeting OF the Board
Df Managers, and reported the failure Of his
mission and Mr. Bogert's disappearance. After the
Board adjourned the managers went TO The bank,
where they expected TO find the $31 800 deposited,
4 Al Al. e..
It's funds because Of the reported standing of the
bank stock. director of the bank gave the i'm
preston that the amount deposit to the credit of
The Exchange was of not much consequence TO the
bank, and said that notwithstanding the fact that
lie cashier was absent the bank would cash a