The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1889-12-05
A OLEvEa foRoEaY.
Dtbositing Money 60 HIS Debtor's Credit
in Order TO Get Out More.


in Order TO Get Out More.
Some years ago merchant engaged
broker to dispose OF some stock to
meet an urgent demand for ready cash.
The stock was sold, but the owner had
considerable difficulty in getting the
sale proceeds from the broker. At
last, driven to desperation. the mer-
chant threatened proceedings. The
broker, after making mental calcula-
ton, sat down and drew check for
the amount realized on account OF the
stock sold, less two per cent. brokers'
commission, and handed 1t to the mer-
chant with many apologies for the de-
lay. After this both parted good
friends. The transaction occurred in
the early morning, and, as the mer-
chant wanted the money urgently. he
presented the check at the bank with
out delay. Guess his astonishment
when the check was handed back to
him with the remark Insufficient"
The merchant was hurryipg away from
the bank when he met Reid. the de-
tective, coming up the stairs. He
stopped the latter and related how he
had been ''sold" by the broker
'How much short OF the amount of
your check stands to the credit of the
broker at the bankp" inquired the off,
Ger.
II never asked" replied the mer-
chant.
Very good" said Reid, "go back
and ascertain"
turned with the reply: 1.-TWO hundred
rupees"
'And the check is for five thousandp"
Yes" was the reply.
'Look here" said Reid "there are
a half dozen writs against the broker.
and he has only given you this check
knowing it would not be paid in order
to gain time. He will draw this
money himself before the day is out,
and probably bolt from his creditors"
"What is to be done!" exclaimed the
merchant in blank despair.
Just this" said Reid, as cool as a
cucumber; take n pencil and piece OF
paper and write in a hurried scrawl as
l dictates: 10 the Secretary OF the
- Bank. Dear Sir: have just ac-
cidentully discovered that l have
drawn cheque in favor OF - this
morning. and that my credit at the
bank tails short OF the amount by Rs.
200. have sent this sum per bearer
to prevent disappointment, should the
check be presented during the day."
Now" said Reid, as the merchant fin
ished the note, ''the brokers' initials"
The merchant looked up in astonish-
ment Never mind" said the officer.
'.it's no offense to pay money into the
bank to mans credit, though it would
be to draw money out under forged
document
This advice overcame the merchants
scruples. and the brokers' initials were
duly attached to the letter. and the
money dispatched to the bank. 1t was
paid in without question being asked.
The check was afterward presented
and paid in full. On going down the
stairs the merchant met his friend the
broker coming up. The latter, on rec
ognizing the former, stopped suddenly.
put his hand to his breast pocket and
exclaimed: "Good God. l have for
gotten my bank book!" He then turned
on his heel, hurried from the bank, and
entering ticca gharry at the door
hurried away. He had come to draw
from the bank the balance at his credit,
but seeing the man ho had intended to
cheat he was afraid to encounter him,
never thinking for q moment that the
intended dupe had then in his pocket
every pice the broker had at his credit.
OF course, the merchant lost 200 rupees
over the transaction, but. as Reid ex-
planned, it was better to lose 200 than
5000. Indian Planters Gazette.