Daily Republican. [volume] ([Wilmington, Del.]) 1874-1890, 1886-07-01
FRAUD AGAIN.
Tho Temptation To Steal too Great 20
be Resisted by Trusted OFF,
clat

N---
The Temptation To steal too Great to
be Resisted by p Trusted OFF,
clal
The currents of trade In the financial
circles Of Philadelphia were agitated to
an unusual extent yesterday morning
by q rumor that heavy defalcation
had been discovered in the office of the
Chesapeake and Delaware Canal Com
paDy. The first report was to the effect
that James A. IL. WAjon, secretary and
treasurer, was short to the extent of
about $500, 600, Inquiries at the Off CO
Tor Mr.. Wilson were answered by the
statement that he was not there, and Il
was soon discovered that he had left the
city.
At noon q meeting of the board of
directors was held, and when the meet
ing was called to order President Gil
hngham announced that when he
reached the office, about o'clock, he
found q letter on his desk written by
Secretary and Treasurer Wilson, in
which he acknowledged that there had
been an over issue of certificates OF in
debtedne OF the company amounting
to $6l5, 200. so, and that he WAS about to
leave the city. The letter was dated at
the Off 1e st 2 p. m, and had evidently
been written after Mr.. Dillingham; 3 do
parture.
II was directed to MIR. Gillingham
personally, and contained fullstate-
ment of the amount OF the defalca
tiop, but bore no intimation OF
how IL had been carried on or
TO what used the III 0nsy obtained had
been put, but stated enphsiically that
he and Mr. Lesley, his predecessor in
office, were alone 10 blarle.
After speaking i'll q general way of
the defalcation AID OF the amount OF
the deficiency the writer saye:
" expected 10 speud yesterday In
hx.nR up things as far as possible, so as
to save trouble, but as you know / had
no chance, aud now it is too late.
What can | say? My heart aud life
l. broken. | care but litJle for myself
but only for nay fatnily and friends,
who have looked upon me as sn hon
orahle tnan."
II took this great burden on ny self
alone (snd you don't know what that
word means) three years ago last
Jure, because bad been partially re-
sponsible for 1t and had not courage
enough to bear the shame as
long as 1 could hide 1t, yet / have
borne 1t and hidden 1t and appeared
cheerful while the canker was eating
1ut my vitals, and l am an old man
befDte my time
II only want to say that Mr.. Lesley
aLd L alone are responsible for the
wrong. We have deceived our friends
hnd our superior officers as you have
been deceived. Dear old MIR. Gray had
no opportunity except by chance of
fnding it out. Mr.. Leslie and alone
nust bear it, as we alone did II.
And now / must go, whether far
away TO distant lands 10 liva living
death, old, poor and friendless, or to
remain quietly near at home until
rest (ohl God, how i need rest), and
then come back and submit to ple pen =
atty deserve, have not yet decided. :"
The Board made hasty examina
tion OF the books, when it was decided
TO pub olish this notice:
"Defalcations by the treasurer of this
company have been discovered this
day the interest Of the loan due Juy
i, 1885, will not be paid until further
nouce, aud the extension of the lotn
eaDnot no carried out IN the mode p.9
vided for. Holders OF certificates bt
loan are requested to produce them at
the office oi the company for examiaa
tion. Transfers of the stock and ltau
will not be made until further notice,
by order or the Board OF Directors.
u. L. GlLLINGHAM, President"
Az soon as Mr.. Gillingham read the
letter when he reached tle oiiice yestet-
day morning he laid the matter bel. fa
Chief OF Detectivss Kelly, aud undar
ais dirtGtion warrants were issued by
Magistrate Smith for tbs arrest uf both
Wilson and Lesley, and they were
placed in the hands of Detectives Mi lier
aud Tate, with Instructors to find both
men II possible Lesley WAS seen on the
street on Monday afternoon, and the
presumption lie that they left together
u iate train from Broad-Etreet Sta
ton.
HOW THE MONEY WAS AISED,
The money MAS obtained by tue issu.
;ng or fraudulent certificates under the
general mortgage loan of 1866, but the
mum Der and GATE CT them have lot been
asoer5ained, as there is nothing on tha
books by which they can be detected.
The certificates have been called In, and
as the illegal oneS are found they can
oe Identified. Arrangements had been
made with the recently y-organized In.
Vestment Company to extend the loan,
out Leither 1t Ior the Canal Company
will be affected by the defalcation, and
the following notice was yesterday given
by President Brockie, OF the Investme tent
Company:
tine Investment Company of Phila-
delphia fs not Ia any way affected by
the defaloation ard over Issue of loan
OF the part of an officer of the Uhesa
peake and Delaware Canal Company,
no part of the extended loan having
bsen presented to CT taken by the In
yestment Company.
WILLIAM BRoCKIE President"
Until the certificates have been re-
ceived and compared with the books of
the company, no definite idea can be
obtained of the manner in which the
q eia!c atoms were made, and were car
ried 60 as to efie ectualIy elude detection.
1t ia presumed that the interest ON the
spurious certificates were paid In cash
oy Lesley and Wilson, and that the &C
count was kept separate by them, the
interest on ihe regular bonds being
paid by checks drawn and signed By
the president. When MIR. Gray was
president of the company he was not a
regular visitor to the flee, and the
management having the most implicit
confidence In the treasurer, Lesley, and
his assistant, Wilson, it Is presumed
hat Mr.. Gray was Induced TO sign GER
ti6caies in blank, but the facts cannoj
covered.