The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-10-18
Josh Billings's Ingenuity in Turning
Bad Spelling Into Ready Cash,
A Plausible Adventurer Who Swindled the
Experienced Patti-A Lawsuit that Re-
calls Several Romantic Incidents.
FILLING A LONG-FELT WANT.


They are Doing in Mercantile Circles.
Special TO the indianapolis Journal
New YORK, Oct 17-Clason Graham drew the
money on check for $26. 600 signed by his EN-
ployers, Spencer Trask & Co., oil brokers. and
took 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 man whose
reputation had been good, was due to the fact
that he had given bonds to the firm for honesty,
and his bondsmen were one of the several guar
anty and fidelity companies 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 diff
cult task of finding available friends to take the
risks. Not less than 6, 900 men already 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 operations and
already the extent and thoroughness of the es-
ponage has become an acute nuisance to its sub
jects. To feel that his every action may be
der surveillance by spy is annoying in many
cases wherein the man is well behaved, and
much dislike of the order of things has de-
veloped but there is no escape because the ex-
stence of the companies provides reasonable
an excuse for individuals to decline to be bonds
men that there is no escape.
Railroad ornplovas han clorkc cnurt offcarc
and all sorts Of financial officials are chiefly the
men involved Before making the bonds the
persons characters are investigated as fully as
possible; but that is complete protection, for
one company has already lost $4,000 through
pEy..-.ss 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 sub
ject to State investigation annually rather than
the handlers of money for private firms. Nearly
all the men in the New York postofice and over
half those in municipal Offices of
finance are now included in the risks.
The charges range from to l per
cent. ON the amount of insurance. The
principal business is detective Every insured
pcISoA 10 WdtCuou, duu very SloooIys tOo, tuo
slightest looseness of conduct is observed In the
instance of Clason Graham detective reported
that he was becoming lourger about town at
night, and apparently was spending more income
than his salary could provide. At the moment
when he cashed the big check spy had him in
sight and did not quit him until he took the
Then the detective telegraphed 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 inquiry of Spencer
Trask & Co. brought out the fact that Graham
was abscondirg with $26 900, and word was wired
to Springfield to arrest him.
A feature of the new business is registry,
called the list of unreliables, in which the par
ticulars of every obtainable case of probable or
actual misdoing by an insured man are noted.
The books of one establishment contain about
20. 600 names, another IA, 900. and there are not
less than SO. 600 altogether thus recorded. COM
prising railroaders, bankers. public officials and
other fiduciaries. The amount of money stoler
by trusted employees is not dreamed of by the
public, as proved by the aggregate of nearly
$500, 600 paid from Office. But the bonded
men are aware of their positions, and con-
sciousness of being under scrutiny has become
one OF the common sensations of their lives.