Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1893-10-30
ROBBED Of $4,000.
Benjamin Sanford Too
Well Trusted.
HE FORGED MANY ORDERS.
Boston Institutions Have Not Suf-
fered by His Peculations.

bpSlbN, W. bN ~ u Ji'illl H. FNhlllbfh,
who up To Sept. - Ia I, and for IS years
prior thereto, hnd been tn, correspondence
clerk Of the C0utiueutrl National bank
If New York, Is -aid 10 have scovered "A
new nIethC d Of stealing "A banks cash, as a
result which he is now guest of Warden
Dunlap in Ludlow street Jail in that city.
Bost on banks are congratulHting them
selves on the fact that Sanford confined
the exercise Of his swlndlirg instincts to
his own city. He is sail to have enb zzled
$4,000 of the funds OF the Cont mental.
That at least two Po>Uon btnking lnstitu-
tions are not sufferers by his peculations
is due to the circumstance that he was
only corresponding clerk in the Cont
mental.
The Bank of the Republic and the
Hamilton National bank of Boston have
deposits in tie Coutinen nj Naliunal.
These, with Il Washington bank, struck
Mr.. Sanford as desirable coucerhs to assist
him IN his operations. There l. always
some new swindling scheme cropping up
IN the banking business. but old financial
heads confess that the game Of Sanford's
was the most daring which was ever per-
petrated.
Sanford had been corresponding clerk
OF the Continental for Is years. The bank
trusted him Implicitly, even going so far
ss to permit him 20 conduct both the in-
coming and the OUTGOING business
which in many large banks is handled by
two persons.
This was Sanford's cue He formed
connection with IA brokerage firm named
Harris 81 Co This Harris 81 Co. was
backed by an ther firm, Maurice Mend-
ham & Co., who did business for the
Harrises, experimenting the closing out
Of their stocks, etc.
1t Is vital rule of the Continental that
none of its employees shall engage in any
outside business, but Sanford kept his
secret well. As Sanford controlled both
ends OF The corr, spoudcuc', he looked
about for means by which he could
profit himself
How He Did It,
Under his nimble fingers a forged order
would develop. purporting to come from
one OF the banks, and asking that a GER
tain sum b. ira s'crre for them TO the
firm Of Harris x Co., through the Nc
chanics' National bank.
This done, he would prepare check
conforming To the order, get the cashier 10
sign It and then sent IL to the Nee hanics
National, which would accept it without
question.
Another order in Sanford's expert pen
manship would form the basis of another
check in favor of another firm. Another
signature from the cashier, and SANFORD
would change the name Of the firm to
whose credi- the amount wa, TO he de-
posted, to Hprris & Co., and duly for
ward the check to the Mechanics Ma
tional.
In this ingenious way and between the
dates of July 8 and Aug 9 seven checks
had been received hy the Mechanics aud
deposited 10 the credit of Harris d Co,
three for $4,000 each, two for 5000 each,
one for 5000 aud one for $1,000.
Mr.. Sanford then cast his eyes on the
balances of the Hamilton Ntt.o al OF B1s-
ton and the Washing on tank He pro
Gee led to take liberties wi h them, and
when the monthly statements to these
banks were made out ne would destroy
them and forge others with his own
checks omitted.
The Continental bank requests all Of it's
correspondents to show in detail Jus, what
items they find correct, so when the re-
turn statements from the Boston bdnks
came TO hand II was Stnf rips hand that
casp-d them, ami il was 5 nfurd', hand
which al cred them To screen his doings.
A surpr sing Illus ration of the control
Sanford eXelc spd over tie rrnspundence
IL given ia an instance in VIII cn one of the
banks sent on two drafts, wnich, with the
forgeres. would have sh ywn An over
drawal of its account President Ran
dolpa of the Coutinentll became pos
sesscd Of the two papers, and having been
Informed Of the state of the orrcspoud-
ent's acc uur, At on telegraphel the
1. /. Il,
was Ready FOR Emergencies.
But Sanford was ready { al such con-
ting, ncies. He destroyed the message,
according TO President Il nd lph's com.
plant, aud on hc following noruin that
official ( und ou MS desk a forged reply
from the outside bank. The president
wrote letter 10 tie Correspondent ex-
pressing lis cong, atulaJi0n, that he hard
times had not so much affected il as 10
compel it to get behind ia its accounts,
AID when Sauford's hands reacl ed for
this letter. that was the last seen uf IT,
On the 2iSt the Continental learned for
the first time that Sanford was u mem Der
of the brokerage firm. Whcn questioned
the next day about the mut;er he adj
mitted that it was true. He was at. once
discharged
Following this came tie suufIing OF the
firm # Harris d Co., whose members van
ishe1
The Continental bank commenced an
inve.tigation Of affairs with their corre-
,p ndents. They ha n idea that any
thing was wrong; nothing but the sus-
picious fact that Sanford had been doing
business outside the bank. Comparisons
were made with tn corresponding banks,
aud Ter much labor the truth was out
and the bank was out sj3 90.
The Continental's officials are wroth
against the MecnHuic' for receiving per-
soDal business from one ~ tn. formers
clerks, tut tie Mechanics excuses Itself
by declaring that IL thought Sanford had
money. The cashier Of the MechanicS'
states that ths account Of Harris d. C.
was taken b. his predecessor in the office,
but was always sharply checked up and
never allowed 10 be overirawn.
the Officials of the Boston banks men
tioued regard the amount involved rs "A
very small affair with such bank as the
Continental.