The Abilene reflector. [volume] (Abilene, Kan.) 1883-1888, 1884-03-20
FULLERTON'S FRAUDS.
Fondness for Clubs and Fast Living Leads
Another New York Man Into Temp

Fondness for Clubs and Fast Living Leads
Another New York Man Into Temp
tation.
New YORK. March 1.-THE Manhattan
Beach Railroad Company has notified the
Stock Exchange that certain of its stock GER
tificateS, representing total of four hun
dred and seventy-five shares, were invalid,
having been irregularly or fraudulently
issued. In explaining the matter, the cOun-
sci of the company says: ''On Friday last
began an examination of the affairs of
the company. The figures in the ledger of
the stock in the treasury did not agree with
the amount that is held by the company.
spoke Ia the transfer clerk of the diScrep-
cncY. He replied that the account had not
been completed ! told him he had no bust
hess 10 leave it that way. and 10 write the
account up at once. He said lie would
90 80. As soon as my back WAS turned
he PIT on lis hat and left the
office and we have not seen him since. His
name is J. Ii. Fullerton, and he had been i'll
the employ OF the company about four years.
An examination OF the Stock-bOokS showed
that he lIaG isS~td the certificates to fictitious
the power OF attorney Or assignment upon the
back of the certificates Tor the fictitious OWN
erS. witnessed the signatures. which gave
the whole proceedings the appearance of
regularity. and sold the certificates
through certain brokers in the street.
Tie certificates issued in this way
now outstanding axe: ~ Nos. 1,3l6.
l.@,0, and 936. for ole hundred shares each,
Nos. SST, SGa ans LOIS for fifty shares each,
and No. SOS. for twenty-five shares. We also
found that he had been issuing treasury
stock in the manner described for about two
years and that the aggregated amount is
about two thousand shares. All of the GER
tihCateS except those named have, however,
been returned to the Office and transferred
to other names than the original fictitious
ones. and To persons who exist" At the
prevailing prices for the stock Fullerton must
have ohtancdah So, 900 by his operations.
1t was comparatively easy for him to OBJ
tain the signatures of the officers of the COM
pany to the certificates that he appropriated,
by running one of them in at a time in batch
of certificates issued in making transfers.
After they had passed through the hands of
the brokers who sold them for him. they
thus became, to all intent> and purposes. a
good delivery on the Sick Exchange under
its rule, which provides that Il member in
dorSing stock certificate guarantees It's gen.
uinenrSS. So far as the company is con-
cemed. there has been no Over-iSSue of stock,
and those who have guaranteed the
certificates will under the ruling referred to.
have To stand the loss. 1t is also found that
Fullerton appropriated a large amount of
cash by making false entries and payments
to employees. Fullerton was well known
about town. He was member of several
fashionable clubs and always seemed to have
plenty of money. He was known fire.
quently to play Joker Tor $500 table stakes.
1t was runOred about town that Fullerton
had committed suicide. hut no ground for
the rumor could be discovered.