Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-08

ESPECIAL TELEGRAM TO THE DIsPArcH.i
NEW YORK, May THE British Ameri-
can Assurance Company, of Toronto Cam
ada, desiring to do business in the State, de-
posted several years ago a requisite number
of securities with a safe deposit COM
pany OF this city, and appointed as
trustees William A Booth, President of
the Third National Bank. and William h.
Guion, formerly junior partner of the old
steamship firm of Williams & Guion.
About two months ago Mr.. Booth, happen
ing to visit the office OF the Safe Deposit
Company on some other business, thought
he would count the bonds for which he was
trustee and see whether they were all there.
On examining the box containing the
bonds it didn't take him long to discover
that $4,000 worth were missing. The lock
of the box had not been tampered with, and,
as his co-trustee was the only person in the
world besides himself who had key or
knew the combination to the lock, ne was
forced to suspect that Mr.. Guion had taken
the missing bonds, which were 30 in NUM-
Der. each OF face value of 81, 900.
Suspicious CONFIRMED.
His suspicious were confirmed when, on
inquiry, he learned that Mr.. Guion had re-
peatedly visited the box during the previous
year or two. Mr.. Booth reported the loss of
the bonds to the Assurance Company and a
special agent arrived the next day to inquire
into the matter. On learning what had been
discovered he, like Mr.. Booth, at once as
sumed that Mr.. Guion was guilty of appro-
priating the missing bonds, and going to his
house the agent asked him to account for
their absence.
On his practically taking the position
that he was no more the bonds keeper than
was his co-trustee, the agent got him to go
to the Hotel Normandie, and confronted him
with Mr.. Booth, who was then living there.
The latter was not inclined to have the re-
sponsibility for the absence of the bonds put
upon him, and he plainly told Mr.. Guion
what he knew of his visits to the Safe De-
posit Company, which, combined with the
absence of the bonds, put his guilt beyond
question.
Mr.. Guion clustered a good deal about
his reputation, putting him above sus-
picion, and did not cease Indignantly de-
claring his innocence in the matter even
when the insurance agent called attention
to the fact that Mr.. Booth, by reporting the
loss of the bonds to the company, had effect
ually shown he was not responsible for it.
A PITIABLE CONFESSION.
After awhile, on being left alone with
Mr.. Booth, the unfortunate old man broke
down and acknowledged that he had taken
the bonds He said that having become
suddenly and seriously embarrassed, so that
it was necessary for him to have large
sum of money at once, he had taken the
bonds and hypothecated them for S21 900 at
one OF the city banks. He had, of course,
hoped to replace the bonds or make good
their loss, but was still unable to do so.
These various facts having been reported
to the British-American Assurance Com
pany, it instructed the bank which had
loaned the S21, 900 to Mr. Guion to sell the
bonds, and, after paying itself out Of the
proceeds of the sale, to turn over what was
left to the original owners. When this was
done, the bonds having sold for nearly par,
about $4,000 was secured Tor the Assurance
Company.
The latter has since brought suit against
Mr.. Guion to recover the difference between
that amount and the $50, 900 worth of bonds
ne appropriated. Being a co-trustee Mr..
Booth is made one of the defendants, and
in the event of Mr.. Guion's inability to pay
when judgment is obtained, as it can
scarcely fail to be, he may have to make
good the deficiency. He claims, however,
that, as it was the Assurance Company which
made Mr.. Guion a trustee, he should not De
held responsible, having had no voice in
the appointment.
CLAIMS SPECIAL EXEMPTION.
He says, too, that a special clause in the
agreement under which he became q trustee
e1empts one trustee from being responsible
for the malfeasanee of the other. He accord
ingly is quite satisfied that be will not be
called upon to pay Mr.. Guion's obligations.
II is civil suit which has been brought,
and as vet there is no talk of criminal
prosecution of Mr.. Guion's breach of trust.
Mr.. Guion, apparently, took the bonds
about two years ago. When coupon day ar
rived, and he and Mr.. Booth visited the box
in the Safe Deposit Company together, it is
presumed that he got the bond from the
bank by substituting others for them, and in
that way prevented Mr.. Booth from dis
covering his theft. Mr.. Guion is said
to appear unconscious that he has done any
thing very much out of the way, and some
of his friends account for his act on the
theory that age has affected his faculties
and rendered him to o degree irresponsi-
bic. He is, however, not much over go
years old.
Mr.. Guion is still receiver for the former
firm of Williams & Guion, which failed
some time ago, and also does general COM
mission business. His reputation and COM
mercial standing have heretofore been good.
He refused to talk about the bond matter
to-day and his lawyer also declined to say
anything. His refusal to talk is presum-
ably under their instructions