New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-09-29

FALL ~
FIND THE MISSING LAW.
YER-wHo ARE HIS
NIECE" AND
HER COMPAN.
IONf
The additional developments made yesterday n
re9hrd to the fraudulent mortgage transactions
OF William X Foster, jr, by which the Gratuity
Trust of the Produce Exchange, whose counsel he
was, has been swindled out OF large sums OF
money, were not of rcassuring character An
other forged instrument in the shape Of q mort.
gage for s25,0 discovered by the trustees
of the fund after Lhey had been in session for
several hours. The result OF their Investigations
was made known to the members OF the Produce
Exchange by notice posted there soon after To
trustees adjourned. 1t was follows:
To the Members OF The Exchange.
Gentlemen: L beg to report that the cursory exami-
nation OF all the mortgages OF the Grstuty Trust both
New York and Brooklyn has been concluded. further
fraud I'm NewYoTk OF s25 600 been developed making
the about sl9s 600 ALL The whereabouts Of
William H. Foster, lr., have yet At
acments against the property Foster pro-
cured and IN the hands OF the Sheriff. Respectfully.
A. E. ORR. President
HAVE ALL THE FoRGERIEs BEEN ExPosEDi !
This revelation OF the fact that the largo
figures at first given Of the amount OF the de-
fcicncy were an underestimate, and that tho
larger ones were given after a cursory examination
only, and might still be less than the true total
produced an unpleasant sensation among ths
members of the Exchange. All day long they
had been talking, in excited groups, about tho
populations and fight of Foster: about the proba-
BILE amount of the losses and how they should
be met and concerning the responsibility for
what had occurred as far as the officers OF tho
Gratuity Fund were concerned. With unabatcd
excitement, they continued their discussion Of
these things and their efforts to obtain moro
light upon the subject.
The trustees of the Gratuity Fund were NOT
inclined to say anything more than was contained
in the announcement posted in the Exchange
Alexander f. Orr, president Of the Produce Ex-
change, being asked for list of the bogus bonds
and mortgages and the names inserted in them,
replied:
Acting under advice Of counsel names are withheld
from publication. The additional fraudulent mortgage
discovered to-day that had been left q, the
Registers Office FOR examination yesterday We had
put in search requisiEon before could have
aminei.
Mr.. Orr said that the discovery OF Mr.. Fosters
unfalthiulness had been great surprise 10 him
and to the other trustees of the fund. They
had trusted him implicitly for many years. and
he had never given the slightest cause for sus-
picion.
APPEALING TO FOSTERS FATHER.
When we went over the mortgages on Thurs
day." continued Mr. Orr l saw that something
was wrong and advised the arrest OF the man
at once l knew his father very well, and
thought would go down to Bayport, l. l., and
see him. and if the young man was there, thought
perhaps he would have manhood enough to mako
clean breast of the matter. / wanted 10 break
the thing gently to the old man. When ! told
him of it he smiled at first and shook his head.
When l insisted, he drew himself up and said:
Remembcrt is William RFOsters you speaking
Of There may be suspicious circumstances In regard
the matter and you may suspect him. but why not
walt until he back He said he would be back
and then he Will explain It
When ] showed him how conclusive the evil
dence was l thought his heart would break have
just been comparing young Fosters signature
some papers with the signatures on the bogus
mortgages. and although some of the latter bear a
resemblance 10 each other, i am in doubt 10
whether they were written by the same hand.
The writing Of the names on the mortgages was
evidently disguised. but even with that If they
were written by Foster | think | could tell il.
We have notified the police authorities well as
Pinkorton's agency and both are hard at work on
the case
DIr Orr said further that he believed that Fos-
ter had no accompliccs. The father Of the lawyer
had made no proposition TO make good the amount
of the loss. The trustees mad exercised all due
diligence in the management Of the fund As to
the property belonging to the missing man, an
attachment had been Obtained by tie trustees and
was in the hands of the sheriff. MIR. Orr did
net know Of any real estate belonging to young
Foster except the place a. Gayrort.
NO ONE WISHES TO SPEAK YEr
Horace f.. Dcming, counsel for the trustees Of
the Gratuty Fund, being asked to give the names
of the mortgagors on the fraudulent bonds and
mortgages declined to do so, saying that it would
defeat the ends of justice if they made public
at present lie said that the facts in regard to
Foster would be placed before the Grand Jury.
with Il view to having him indicted, and that civll
suits had been begun to obtain possession of his
property.
Thomas F. Wentworth. the law partner Of the
missing man. said: " | have heard nothing from
him since he disappeared. and il Is very hard ior
me to believe that he is a thief. | am sure that
Mr.. Foster has not speculated for the last hva
years Before that he specuatcd, and so did |.
and so did all OF us but. 80 far as know, he has
not bought any stocks since then
Duncan Il. NoTyell. secretary Of the Board OF
Trustees of the Gratuity Fund said that Foster
could not remain very long in this country with
out being caught, hut if he had escaped 10 soma
other land, he might conceal his identity, and
might never be brought back.
4 member of the Exchange said that the more
he thought about the matter the more he WAS
inclined to think that Foster was not In his right
mind. lie could not understand how man
with his income, position IN LIE, and prospects.
could act as he had done. lie further stated
that the surplus of the Produce Exchange
Gratuity Fund amounts e. about 81 200, 900. nearly
all OF which Is invested IN iorty mortgages IN
this city and twenty in Brooklyn. Messrs Love
and Sanford placed the Broollyn.;loans and tho
mortgages IN that city are oil right. The New
York mortgages we:c all executed under the SUI
pcrvision Of Foster. who was made
counsel for the fund when il
first established. Those made prior to
1888 were genuine II member
TO die tomorrow his heirs wculd receive about
s7,s9i as did the family OF the last deceased
member. The trustees are not under bonds aud
cannot he held responsible for the loss. Tho
81 Ia. I.fa - fl..a
surplus n couple Of hundred thousand dollars
At Pinker,on's Detective Agency which he's
been employed to capture Foster. il WAS stated
that no clew had been obtained TO him. The
search for him is being prosecuted and 10 Is
thought that he can hardly hope TO elude iustics
for a long time pinilerton's men are hopeful