The daily morning journal and courier., 1895-01-19

Al the building it was said that MT | Quigley was a wealthy man.
 Later in the afternoon the district at
 torney made known the particulars
 of the case. Quigley is charged with | forging $160, 900 worth of bonds of Yari- ous cities including Cleveland, o, and Harrisburg, Pa, on which he secured | $144, GOO from the Mercantile National bank of Dey street and Broadway us | ing the forged bonds as collateral. 1 Quigley has made a confession to
 Cashier Schenck of the Mercantile Ma l tional bank. and has declared that no one else is implicated with him in the | gigantic swlndle.
 Quigley is a young man not over
 thirty-five years of age. and is married
 and lives in Orange, N. J. The specific charge against him is that he forged
 a coupon for $22.5 on a Cleveland bond. l The placing of the bonds with the bank | occurred within the last two months, and the fraud was so cleverly planned | that it was not discovered until the coupon on which the charge is made was presented to the authorities at | Cleveland and shown to be fraudulent l and forged.
 President William P. St. John of the Mercantile National bank issued for nal statement this afternoon regarding
 the amount involved.
 The statement shows that these | amounts were secured from the bank
 by Quigley by loans on the forged col | lateral.
 | The statement shows that these forg- ed bonds were deposited as collateral: ] Forty-seven thousand dollars, City of Cleveland (Ohio); $6S,OOO, City of Spring
 field (Ohio); $35, 1000, City of Harrisburg, l (Penn.), and $6,OOO, City of Zanesville, (Ohio); a total of $166,0OO of forged
 bonds against the banks advances of $144, 900.
 This will be reduced by some sue 1 cessful levies under attachments al
 ready laid in New York and other cities. 1 The statement continues as follows; "Quigley admits himself the forger, saying that his partner, Futile, resident
 in New Haven. Is ignorant of it.
 The bank has placed Quigley in GUS
 tody under proceedings for indict- ment.
 The firm of Quigley & Futile, dealers 1 in county and municipal bonds and | other investment securities, was or ganized in 1890. Quigley having been | connected with a firm of older cus- | toners of the bank.
 "The firm was organized under the ad- vice of Tuttle's father, one of the most substantial and well posted citizens of | New Haven, himself long time friend | of the bank.
 Quigley's family associations were al- so deemed among the best, and his bus mess experience was considerable. The account has been an active one; loans and repayments large and frequent Evidence of a widespread confidence in the firm on the part of monied institu- tions and others throughout New Eng l land, and the business-like conduct of the account left no room for suspicion of Quigley at any point.
 "The bonds forged were of cities whose credit is high. and they were hy- pothecated to the bank in parcels, from time to time under changes of collat- eral among the different loans." Quigley attributed his downfall to speculations, of which he kept no book record, depending on memoranda in or der to blind his employees.
 'In applying to another broker for valuation of securities we were led to question the validity of the Cleveland bonds, and to silence the doubt we sent the coupon to the American Exchange National bank Then the story came out"
 The Mercantile National banks recent report of condition shows a capital of $1, ,00O,000, with surplus and profits of $1, ,1O3, 900 additional
 Quigley was taken before Recorder Golf, where he pleaded guilty, and was committed to the Tombs.
 oUIGLEY PUT TO PLEAD.
 At the same time that Quigley was brought to the general sessions building MT. Battle went before the grand jury with Lawyer BrowneH and the case was presented. An indictment was at once found for forgery in the first de- gree. Quigley was then arraigned be- fore Recorder Golf. He was very much broken up. When asked to plead he stood with bowed head and murmured guilty" He was at once taken back to the Tombs. The bank will not lose the $1440OO in its entirety, as attach ments have been levied against securi- ties held by the prisoner.
 oUIGLEY's REGENT CAREER.
 Quigley conducted some large opera tions in stocks and grain, as well as bonds. He carried as much as 10000 shares of stock at a time, and made some very profitable deals. Recently, however, he has been drinking heavily and it is believed he lost his head. The brokers claim however, that his losses have not been large. Quigley, however, lived at a very high rate, and his living expenses were between $25,0O and $10O,- 900 a year. It is supposed he kept up his expensive rate of life, notwithstand- ing his losses, and losing at both ends, resorted to the forged bonds. He lived in the grandest kind of style, having fourteen horses in his stable at Orange, N. J., employing two gardeners, four coachmen and small army of servants. The forged bonds were mixed in loans with other bonds, and as his resources became restricted he used more and more of the bonds. Quigley was ex- tremely popular in Wall street and New Jersey. His hand was always in