The daily morning journal and courier., 1895-01-19
NEW YORK'S NEW SENSATION
4 BANK HAS $I44,OOO OF FORGED
 SECURITIES.


 Haven Mans Property Attached for
 $7O,OOO-Mr. Futile Was Former
 Partner but They Had Dissolved Busi-
 ness Connections Year and More Ago
 Ouigley's Career-What MT. Futile Says.
 Quite a sensation was created in New Haven financial circles yesterday afternoon by announcements which came by telegraph and long distance telephones that MT. Quigley, of the banking firm of Quigley & Futile, bank CTS and brokers, of New York, had been arrested for forgeries, the amount reach ing, it was said, $2OO,OOO. Later dis patches reduced the amount to $160,000. The New Haven interest was owing to the fact that Mr. Futile, of the firm named. is a New Havener. one of our esteemed citizens, son of the late John F. Futile, who was for many years treasurer of the old Savings bank. It was soon ascertained, however, that MT. Futile had not been active in the con- cern for year, and had in fact retired from all partnership in its affairs year or more ago, and MT. Quigley, when arrested, absolved his partner, MT. Tut tie, from any participation or knowl edge of the crimes with which he is charged. It is reported, however, MT. Futile had not been able to sever his connection with the firm, as owing to depreciation of securities held by the firm, he found it not only impracticable but impossible to withdraw his capital intact from it. He had, however, had nothing to do with the firms affairs for year or more.
 Owing to his still having capital in the concern an attachment was filed for record in the town clerks office in the afternoon against the property of MT. Futile in this city for $7OO00.
 The attachment is in suit brought by the Mercantile National bank of New York against William P. Futile of New Haven and Edward O. Quigley of New Jersey, doing business in New York in the firm name of Quigley & Tuttle.
 Much regret was felt and expressed by our prominent financial men here at the prospect of litigation before MT. Futile in connection with the case, de- spite his absence for year past from all business relations with the firm, and the question of his legal responsibility for the debts and obligations of the firm was discussed. If he could have obtain ed settlement of the partnership a year ago he would have been free from any connection with it, but as, reported the shrinkage of the assets made a set clement impracticable.
 The firm of Quigley & Futile was formed in the fall of 1892. Previously for some tinnc MT. Futile was of the promi- nent State street firm of Augur & Tut tie, this city. The firm of Quigley & Futile started under favorable auspices MT. Quigley had the reputation of be- ing a very active, bright business man. in fact, he was recognized as an ideal hustler Previous to MT. Tuttle's form ing partnership with MT. Quigley the latter had been doing business with an- other partner. The firm was then Quig- ley & Hartman, This was dissolved and MT. Futile took the place of junior partner The new firm did a thriving business in municipal bonds and one or two issues of water company bonds, and among them the bonds of the Ellens- burg Water company of Ellensburg, Washington territory. They also dealt largely in New York, New Haven and Hartford Railroad company stocks and bonds.
 The financial panic of '93 caught the firm and caused considerable diminu- tion of the value of the firms securities which it had on hand. As is fully told in the New York dispatch below, MT. Quigley was arrested at the instance of the Mercantile bank of New York, with which Quigley had deposited secur- ities for collateral for money loaned and which the bank had found to be forged securities.
 Quigley is well known here and had had personal dealings with some of our New Haven men. As far as can be ascertained no one here will suffer any loss, although some of his securities had been carried for him here. We are unable to find that any of the forged bonds are held in New Haven, either by investors or as collateral in any form.
 WHAT MIR. FUTILE SAYS.
 William P. Futile was interviewed last night by a Journal and Courier" reporter. He stated that the alleged hypothecations and the subsequent at tachment of his property on Elm street near Lynwood were pair of surprises to him. He said: I have little to tell. In fact, am glad to relate what little I know to the newspaper men. have not been in New York for one year and a half. I was in brokerage partnership l with Quigley up to last July. Since then Quigley probably continued the firm name, but of that know nothing | Quigley, it seems, has used by name | for credit, but l have not had any bus | mess or other communication with him | since I returned to New Haven. My | property has been attached, but Quigley | tells the truth, and I will not be held re- | sponsible. l am amazed at the outcome | of affairs. So far as I see there is no | hint of dishonesty against me. If my | name has been used 1t was unknown to | me, and have no concern about the | result i'll court.
 New York, Jan. 1S.-Edwin O. Quig- ley, banker and broker, of Wall | street, was arrested this afternoon on charge of forgery by Detectives Reilly and Won Gerichten. The arrest oc-