The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-01-27
MANY BANKS BUNCOED.
EXTENSIVE OPERATIONS OF CHI.
CAGO FORGERS.
Mail Boxes Rihed and Checks and
Drafts Taksn-No Glue to
the Thieves.

CHICAGO, Jan, 26.-Bolder and more daring
than any swindle perpetrated on the banks OF
Chicago in many years are the operations of q
gang of forgers whose system was first discov-
cred by a prominent financial house on La
Sale street. Beginning with the promiscuous
lootng OF mail boxes on the busiest streets in
the city, the gang next committed a double
forgery on all the checks and drafts found in
the stolen letters, and completed the daring
work by passing the altered checks on the
biggest banks in town. The system has been
SO generally practiced that ]. 2. Odell, presi-
dent OF the American Bankers association,
has addressed letter to every bank cashier in
the city warning him of the gangs operations
and pronouncing the system the most danger
GUS that has appeared in many years.
So carefully was every detail OF the plan exc
cuted that it is considered very doubtful
whether any of the men will be caught though
the government secret service has its best de.
tective talent at work on the case The gang
so chose their time as to give them start of
almost four weeks ahead of the officers, and it
is believed that in that time they have cashed
all their forgeres and escaped. The crimes
were evidently committed by persons familiar
with the banking business, for they waited
until the first week IN January before plumber
ing the mail boxes. At that me the mails
were heavy with letters containing checks
given in settlement OF December bills and holi-
day presents. No better time could have been
chosen for the robbery.
y
them for payment, the gang could reasonably
be assured that the crime would not be dis
covered until the first week in February when
pas, books were sent in to be balanced. Then
the forgeries would naturally be detected. The
amount realized on the operations will not be
known until all the pass books have been bal
anced; bat already IL is known that thousands
OF dollars were paid out on the stolen checks.
hurried examination OF uusurrendered
checks in several banks showed that the for
gers had reaped IL golden harvest. Checks OF
$500 and 5000 were found at several places,
while in other banks a number OF smaller
ones were discovered Speaking last night of
the audaeity OF the gangs operations, Mr..
Odell said.
"Ihe forgeries were so carefully executed
that paying tellers accepted the paper without
question. In some cases, where checks were
drawn by corporations, che gang would use a
stamp exactly similar TO that employed by the
drawer of the check and then forge his name.
OF course Il check OF that description would be
accepted without question.
Mr.. Odell had no idea how much the forgers
realized from their operations.
81 have asked all OF the banks to notify me
of the number and amount OF the checks that
were cashed. The plan was discovered acct
dentally. patron OF one OF the banks
brought his book in earlier than .ual and
when IL was balanced and returned with the
surrendered checks, the forged Endorsements
were detected and the matter was reported. |
ut once sent out u letter warning every banker
i'll town to look out for checks Endorsed by the
persons who drew them 1t will be Il week or
SO before the banks can tel. how much paper
was cashed iof these bold workers."