Weekly commercial herald. (Vicksburg, Miss.) 1884-18??, 1885-10-23
We'll watched.

st. Louis GlObe-DemOcrat.
NEW York, Oct. 15--Clason Graham
drew the money on a check for $4,000
signed by his employers, Spencer, Trask
& Co., oil brokers, and took a train for
Canada, but was stopped on the way
only four hours later, both man and
money being back in town next day.
The quickness of suspicion and action
in the case of a mar whose reputation
had been good, was due to the fact that
he had given bonds to the firm for hon
esty, and his bondsmen were one of
the several guaranty and fidelity COM
panies, that have lately come into use
here in New York. These concerns
insure employers against loss through
the thefts of employees, and relieve the
latter of the often difficult task of
finding available friends to take the
risks. Not less than 5000 men are al
ready bonded in this way by
the companies, among whom
brisk rivalry has already arisen. Visits
to their offices show large premises
and numerous clerks, indicating far
more labor than would be requisite for
merely making out the papers and
dealing with the customers up to the
point of completing the bonds. The
explanation is that the most elaborate
systems of watching the insured men,
and registering their habits, is in ope-
ration; and already the extent and
thoroughness of the espionage has be-
come an acute nuisance to its subjects.
To feel that his every action may be
under surveillance by a spy, is annoy
ing in many cases wherein the mar is
well behaved, and much dislike of the
new order of things has developed;
but there is no escape, because the ex-
iOtence of the companies provides so
reasonable an excuse for individuals to
decline to be bondsmen that there is no
escape.
THE GLASS OF RISKS.
Railroad employees, bank clerks,
court officers and all sorts of financials
are chiefly the men involved. Before
making the bonds the persons char
acter are investigated as fully as
possible; but that is no complete pro.
lection, for one company has already
lost $4,000 through Paying Teller
Charles A. Hinckley, of the West Side
Bank, and Teller F. J. Dieterichs, of
the Laclede Bank, st. Louis, both of
whom were above reproach and one
seemingly pious. The preference is for
employees of institutions subject to
State investigation annually rather
than the handlers of money for private
firms. Nearly all the men in the New
York P~ostofice, and over half those in
municipal offices Of finance are now in
cluded in the risks. The charges range
from J to l per cent. of the amount Of
insurance. The principal business is
detective. Every insured person is
watched, and very closely, too, if the
slightest looseness of conduct is OBJ
served. In the instance of Clason
Graham, a detective reported that he
was becoming a lounger about town
at night, and apparently was spending
more income than his salary could
provide. At the moment when he
cashed the big check a spy had him in
sight, and did not quit him until he
took the cars. Then the detective tel
'egraphed to the company that he was
going to go, too, and would look for
orders at Springfield, where the train
would make its first stop. Hasty in
quiry of Spencer, Trask & Co. brought
out the fact that Graham was abscond-
ing with $1,000, and word Was wired
to Springfield to arrest him.