Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1894-12-01
srosr OF HIs orxRAuIoss.
II Is Believed the Frauds win Reach
Si,000.0OO.

IL Il Relieved the Frauds win Reach
81 100000.
The story of Pierce's audacious oper-
ations at Yankton is told In the follow
ing special telegram to the Minneapo-
lis Tribune:
Yankton. 3. d.. Nov 22.-The expos
ure OF the gigantic forgeries of John r.
NJ. Pierce and his fight 10 Mexico
closely followed by the arrival Of Eng
lish capitalists here has created a SEN
sation in money circles of New York
Pierce. Wright & Co. have been paying
interest for five years on forged bonds
which were sold 10 eastern capitalists
The firm of Pierce. Wright q Co.. so far
an anything to the contrary is known,
is composed wholly OF ]. T. NJ Pierce.
@. ". Wright having withdrawn several
years ago. and the company being an
unknown quantity. The Arm has ex-
listed at London, Eng, at Yankton. at
Spokane and at Holyoke. Col. and has
done business I'm all those places The
principal Office of issue has been ut
Yankton, which has also been MIR.
Pierce's place of residence. The London
Office was the place where his various
issues of fraudulent paper were nego-
tiated and turned into cash. Mr. Pierce
has dealt largely in school district
bonds and tax certificates. These have
been generally OF fictitious character,
being manufactured by the wholesale
and forged ON fictitious signatures at
tached together with scala. verifications
and other paraphernalia OF deceit He
seems to have formed a ready market
| for his bogus paper. probably through
the good standing of his London house.
Who Is responsible for the various
acts OF forgery, is only a matter of con-
| lecture. Perhaps Mr.. Pierce did some
of IL or all Of Il or none of II. That II
was done there exists the evidence of
the fraudulent papers. In his school
bonds issues. he has covered In South
Dakota the counties of Yankton, Bon
Homme. Hutchinson, Turner, Clay and
Union. 30 far as Ii known. The busi-
ness han been going on many years.
The last school bond TO come TO light
In dated December /. 1898. 1t purports
TO be the bond OF independent school
district No. 2. Bon Homme county. II
was for the sum OF $4,000. payable 70
j. II. Crennan. who died several years
before IL was issued. The signatures
are forged. IL Ia guaranteed by Pierce'r
London house. This paper was sold ta
English parties and has recently been
made the subject OF investigation by T
Miiiinson. of Texas. an Engiishman
This is given as a sample OF his work.
MAY REACH A MILLION.
The aggregate amount OF the fraud.
ulens school bonds and tax eertificates
IL not known, but IL Ia very large, and
. there are in addition numerous fraudu
: lent mortgages which have been paimet
of upon unsuspecting Englishmen. Il
In the opinion of a gentlman In a posi-
ton 10 know something about the bust
! ness that Mr. Pierce has fioated from
$500. coo to 81 .000. 600 worth OF this man
J ufactured paper. He has built exten
slvely in Yankton. some OF the most sub
! stanfial improvements Of the city beinI
the result Of his Investments. He ha
lived expensiveIy. maintaining an 81
! tabllshment here and one In London
J He has put siT5.ooo into the grade an
! right OF way of the Yankton & Nor
! folk railroad. though there II belle
1 that the money tor the railroad wor
i was not a portion of his inecme 70
school bonds. tax certificates. etc,
: IL IN said that Mr. Pierce has ais
: been dealing largely In fictitious xtive
!, mines. II no this part OF the work ha
: been conducted remote from Yankto
: and there Ii nothing here In evidence.
!. He has been an a1i-round rustic
! and money could hardly come 20 hiE
! fast enough 70 meet his demand
though he secured IL by easy processs
and In quantities sufficient 70 Stage
! belief. lie was sometimes hard up o.
casions we're frequent when Il bothere
y him 20 meet his office and living e
penaes. but he always paid all claim
: hnally.
'e II In not thought that the collapse
7, the Pierce house win embarrass an
m Yankton business establishments. VII
Il local business men he had no entangi
y menss There IL yet unpaid eonside
Df able sum for grading work upon Il
"a Yankton 3 Norfolk railroad. but the
ID accounts are Of LONG standing and 4
losses win produce no new results. !