The united opinion. [volume] (Bradford, Vt.) 1881-1970, 1886-12-03
WILLIAM REEDS FRAUDS.
A GREAT MANY OF HIS MiSOEEDS
NOT YET MADE KNOWN.
SOME MORE REVELATIONS ABOUT
HIS STEALINGS.

The Horse Railroad Company Not the
Only Sufferer-A Heavy EmbezzIement
From Another Corporation Suspected
-How Reed Duplicated Stock Certii-
Gates.
BosToN, Nov. 30.-The Globe to-day says:
When William Reed. the defaulting treas
urer Of the South Boston Railway company,
left his pleasant home on Broadway for a
cell in Charles street Jail, there was not
one of his hundred busn SIS associates who
imagined the extent to which he was in.
volved or the magnitude Of his criminal
irregularities During the past few days
startling disclosures have been made which
confirm the belief that the prisoners
financial manipulations date back to the
time when he was first placed in the posi-
tion of treasurer at South Boston and ap-
pointed to other positions of trust which he
has held in various well known corporations.
From expert examination of his railroad
accounts it appears that instead of continu-
ing the numerical over-issue Of the South
Boston company to the full extent of his
irregularities, Reed shrewdly duplicated the
original over-issue, thereby lessening the
chances of discovery through the directors
examinations.
The first knowledge of this over-issue was
secured when small block of fifteen or
twenty shares was returned for verification,
and it was found to be portion of block
o" 100 shares, issued in the manner stated
above This condition of affairs will neces-
state closing the company's books for stock
transfers for an indefinite period.
To reporter a gentleman closely inter-
ested in the case said:
"There is no doubt but William Reed
will have to answer TO more charges than
he can outlive If he stays in prison for the
ne xt fifty y. ars. Neither do l believe the
full extent of his deficits is known. Re-
garding the South Boston Horse Railroad
company little can be said. The expert ex
aminations show that he duplicated the
over issue, but that is all that has been
given to the public. There is more
yet to be disclosed before the grand
total of Reeds swindles is figured
up. The new board of directors have as
yet held no formal me ting, and until they
do the public will know but comparatively
little of what is going on. They are con-
vinced his defalcations date back nine
years, it is said, though what truth there is
in the statement cannot personally say
learned certain facts to-day from Charles
town gentleman, one OF Reeds friends whom
he has swiIiled largely, which throw addi-
tlOnal light upon the case. It appears that !
Reed has had an apt schooling in treasury
duties. During the past few years he has
not only been int rested at South Boston in
Mexican telephone as treasurer, but has also
occupied that position in the Exeter Gas
company, the Plymouth Gas company AMI
the Chapman Valve company.
"In other companies, including the gas
and valve Investments l have stock certif-
Gates representing over $4,000, which ad-
vanced Mr.. Reed as collateral learn
with regret that much of this stock may be
irregularly secured to me. 1t is not yet an
established fact, that during his connection
with the above corporations, Mr. Reed eff
fected any embezzlements. but so stron ,ly
suspected is it, l am told, that examinations
of old accounts are being made, with ind-
cations that, before many days elapse, still
more exciting history will be established of
Mr. Reeds financial doings It is already
stated quietly by well informed brokers
that deficits exist in one of the above COM
panii S, the name of which have promised
not to mention. am personally sure that
other irregularities exist, but do not think
it policy to state further particulars now"
do you think your losses will amount
to muchF' was asked.
EYES," was the reply. 9Th r, is no
doubt but have lost great deal of the
amount advanced How much l cannot
say There are no doubt others have lost,
too, but how much, l also cannot say. 1t
is in my judgment quite safe to predict that
not over three-fourths of William Reds
criminal Irregularities have as yet been
hro,l ht IN nuhlic notice