New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-03-03
EDWIN 4. COYDITS STUMBLING SCHEMES.

ARREST OF MAN WHO MADE VICTIMS OF NUM-
BIER OF sToCKBROKERs.
Detectives have been searching for more than two
months for Edwin A. Condit. OF Orange. N. ~. VINO
has swlnd.ed several stock brokers by means OF
worthless checks tie was arrested Yesterday ny
Detective Sorgeants Slevin and Won Gerichten IN
resort Tor dsordcrly persons IN the Iwenty, nintn
Precinct, and was locked up at Police headquar,
ters Condit Thirty eight year old, we'll ednrated
and possessed of good looks aud keen wits he has
many wealthy relatives living IN Qfange Dnt !. ~
have refused IN assist him. BY the death or MS
father veral years ago he became possessed oil
pcary 800, 900, which he afterward lost 6y speen
lations in Wall Street He was unmarried and led
a fast HE When his swnding operations De-
came known to Inspector Bvrnes IN December, Con,
dit was indicted and bench warrant was issued
for his arrest. Detectives sought Tor him In
Orange. Newark and other places where he was
known to stay at intervals, but ne managed to
elude them until Yesterday. Several women were
in love with him, ana at leasto of them assisted
him to keep clear of the police for time after she
knew they were searching for him.
Condits method OF swIndling was peculiar. BY
making a small deposit at he Orange Savings Bank
ne was able to get check book, which he used with
reckless disregard Of consequences. lncloslng "a
check tor any amount that suited his purpose, he
would send order to some member OF the stock
Exchange to buy certain amount OF stock on q
rising market. The fol owing Is sample order
c. L.sDrPsoN Co.: Please buy 100 Northern Pa
clfc at as better. Limit my loss to cent. In
'''''N -'"N L. A. CoSDIr.
HIS orders were given with good Judgment as
rule and stocks which we're purchased for him ire
ouently rose 80 as TO give him handsme profit In
such cases Condt hastened to collect his profits aud
TO intercept his check before IT could be presented
at the bank. When the st cks went down, how
ever, and the check sent by Cvndit was forwa ded
to the Orange Savings Bank 1t would be returned
as worthless. In one case a broker. Robert Bruce
made money for himself bv filling one OF COndits
orders de discovered that COEdits check was
wor HESS after no had purchased 10000 bushels OF
gram. The value of the grain Increased and Mr.
Bruce prutted ty tho transaction. Condit alter
ward wrote him asking for share OF the profits
By degrees Condit's reputation became known In
Wall Street and his name was posted In the STOCK
Exchange. Several brokers had lost money by
trusting him, however the amount Ct their losses
being about $15, 200. Among the brokers who we're
swindled were Atterbury ~ Till 1ghast, Pollack IL
Co. William Heath * Co.. and L. G. Quinlan d
Co. Dernott a. Durant, of No. 10 Newest, bought
some Uniol Pacific stock on check drawn by
Condt for 81 600 but they learned who their
toner was In time TO sell the stock again without
loss
Condit told Inspector Byrnes yesterday that he
had no money with which to meet his debts in Wall
Street and his relatives would not assist him. He
knew he had done wrong. be said, ana he would go
to prison With resignation His object in swindling
the brokers. he said, 10 recover the fortune
which lie had lost In Wall Street IL ne had sue
ceeded In his plans he would have paid his debts.
In CoDuits possession found many letters from
womeL some OF them beginning Dear, dear, dear
darling The prisoner will be arraigned at the
District Attorneys Office this morning.