Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1894-12-15
The J. 7. N. PIERCE FRAUDS
New Developments Increase Their
Magnitude.
Anxious Cablegrsms From England Con-
corning Investments In Mythical
Securities - Ills Mexican
Partner Disappears.

YANKToN, s. d., Dec. 5.-The Pierce
iorgeries continue to produce new de-
velopmcnts each day. On Thursday
the register of deeds Of this county re.
ceived cablegrams from England ask
Ing If certain mortgages, amounting to
81, 500 had beer recorded in July. OF
course they had not and tho English
men are minus their money. On
Wednesday the treasurer OF Bon
Homme county received this cablegram
from London: "Are there legally is
sued school bonds for $50, 900 on school
district No. 2, and $500 for district
No. ~" Inquiries Of n similar nature
have been received 10y the officers OF
Clay, Union. Hutchinson and Charles
Mix counties in this state and in Cedar
Knox and Price counties In Nebraska,
and n careful tally OF these inquiries
indicates beyond q doubt that Pierce
transacted n larger business than was
at first supposed. 1t has been ascer.
tanned that during the last sixty day
prior to his departure from London he
received $500. 600 from the sale OF his
forged securities. II has been further
ascertained that many of Picrce's Sc
~curities were negotiated and sold 10y
Stanton Il Coffin. the New York
bankers who failed on October /. 1t
is believed here that a large amount
In unsold bonds will be found among
the banks effects. and 1t is further sup
posed that the failure OF Stanton *
Coffin on October 1 had something to
do with Pjerce's fight OH October 5.
Coffin e. stanton conducted n business
similar To Pierce. Wright a. Go.
The handwriting on the forged bonds
and other securities has been recog.
nized here, and as the details connected
with this firms methods crop ont, IL
grows more evident that at least three
other lanlkton men assisted in the pro-
duction Of the fraudulent securities.
The writings of the various instru-
ments Is in different hands, n their
execution clearly indicates that some
person well posted OF the legality and
regularity Of issuing school bonds was
q party 10 their issue. and IL is further
evident that these securities were
nearly all prepared in Chicago. 1t may
also be stated that the bankers, Coffin
e Stanton, also had an oaice in Chi
cago, and the Chicago Office of Pierce's
attorney is also said TO have been in
the same building.
During the past few days II has been
learned that Pierce's accomplice in
Mexico, who assisted in swindliDg the
English with worthless mining stock.
has also disappeared from his Mexican
home, and cannot be found.
William y. Dewey, jr., Of this city is
or was the attorney for Pierce, Wright
a. Co., and 1T Is said that he owns the
equity in the grade OF tho Yankton,
Norfolk and Southwestern railway,
which Is probably worth 800, 600, al
though ii is claimed that the grade
and right of way has already cost
Pierce Sis, 900. The Traffic Construc-
ton company was a corporation or
gapiZed for the purpose OF con-
structing railroads. II vas this
company which graded the Yanls.
ton, Norfolk and So uthwestern rail
road. The latest advices from England
are To- the effect that an effort will be
madeSo squeeze Pierce and his accom-
plices. hut their plans are so well laid
,lha : /, " viii sf Il tsss sra III iMSasasaSa &
against Pierce IS the selling Of a mine
in Mexico. A mining expert, who was
also an acquaintance of Pierce, sold q
silver mine to English capitalists foi
5000, 600, Of which sum il is alleged
Pierce got 500, 900 and his accomplish
500, coo, while the real owner of The
mine got nothing, but still has his
mine. The English capitalists have
the mining stock.