New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-02-05
PRICE THREE CENTS.
An UNKNOWN FORGER'S WORK
THE NAME OF AN INSURANCE COMPANYr
PRESIDENT USED
CHECKS PURPoRrING TO BE SIGNED BY J. NJ. Ne
LEAN, OF THE MANHATTAN LIFE, DECLARED
Neutrality-suspicious. BANKS WILL


woRTHLEss-NEw-YoRK BANKS WILL
LOSE NOTHING.
Several checks purporting to be signed by Presf.
dent James VI. Mclean, of the Manhattan Life
Insurance Company, No. 1856 Broadway, have
passed through the Clearing House exchanges fn
the last week and on being protested have been
found to be forgeries The most of them have
come from Boston and all from Ncw-England
cities They have ranged in amount So far as has
been ascertained from a few hundred to a thou
sand dollars each. and rently they were drawn
in favor Of an Eastern agent Of the insurance
company The New-York banks received them in
the usual course Of business and in most instances
probably returned them to their country CORE
spondents without special inquiry.
BAD CHECK COMPS FROM BOSTON.
The National Bank Of the Republic received one
Of the checks from Boston trust company II
for $3.50 and was drawn on the First National
Bank Of this city When IL was returned through
the Clearing House marked mo funds" there
was probably a comparison of notes between the
two banks which are In the same building. IL
learned that the insurance company had ne
account with the First National and the next step
in the inquiry was directed naturally to the in,
surance companys office President Mclean de-
MED that he had drawn the check and pronounced
his signature forgery. The check was printed
one and on the face Of II there was no reason to
suspect that the company had not an account with
the First National Bank, ON which il had drawn
apparently for an ordinary sum. 1t was dated
early in January, and besides the name OF the
payee. there only the Endorsement Of the Bos-
ton Trust Company which had sent 1t to tho
National Bank Of the Republic.
rs THE FoRGEH A CONNECTICUT MANI
It is rumored in Wall Street that the forccr
an agent of the company in one Of the principal
cities Of Connecticut and that he has recently
Joined the Canadian colony No estimate of the
amount can be obtained but the frequency Of the
checks in the last few days is regarded with sus-
pciOn. II is not yet known. OF course. that the
author of the forgeries realized anything from his
work. The delay IN the presentation OF the checks
if they were dated properly, and few other cir
cumstances seem 10 Indicate his method. lie may
have deposited the spurious checks to the credie
Of his account as agent and soon aftefwaru drawn
the money on bis own official check. The trans
action would he natural one and, until the
fraudulent character of the deposits was detected
there would. be nothing in IL to arouse the sns-
picion of banks with which he had been DONG
business. If the checks were not antedated ~
would seem impossible 10 account for the delay
in the collection of some Of them unless the forger
had friend who helped him in floating them
WHERE THE LOSSES WILL FALL.
The losses will fall on the banks which cashed
the checks unless they rely on the persons
to whom the money was paid. Neither the In
surance company nor the New-Yorx banks will
lose anything, but there is natural curiosity tS
learn the extent to which Eastern banks have been
swnded. -.
President Mclean and j. L. Halsey. frst vice
preside Mt Gf the comp1ny. refused AL Information
about the forgcries. They declined to dlvulge me
name of the agent who is said To be mlsshV' M
Alci can said in substance:
u would not willingly attack the character OF
any ma. The transactions NAV DE eNpialhfu
possibly and until l see the agent l cannot say
| anything" .S
| To repeated inquiries about particulars OF the
forged checks, lie returned the reply that he wou'd
not talk on the subject Vice,fresioent na.rs
suggested mildly that Mr. Mclean might have
something to say in a few days but the president
| was not disposed TO make even that ADMISSION
| Afterward he refused to see a tribune reporter
| who had learned something more about the iacts
| r. is understood that the has been rlaced ID
| the hands Of detectives. but that the forger has
| escaped across the Canadian frontier