The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-01-19
CONFESSED THE FORGERY
Edwin 0. QuigIey Raised $780,
0OO on Forged City Bonds
HIS PARTNER EXHONERATED.
Loans Secured on Fraudulent Pa
per. The Money Lost in Spec
ulation. The Mercantile
Banks Loss. A Trusted
institution.
By Southern Associated Press

By Southern Associated Press
New YORK, January Edwin
.. QuiSloy, of Quigley " TuttIe.
bond brokers at No. & Wall street,
was arrested this morning by Detec-
two Reilly on the complaint of
President VIM. st. Johu, of the
Mercantile National bank. IIo ls
charged with having secured losns of
SiI, I,OnO to $0j,O 600 III forged bonds
OF the city Of Clevalnud; SOS, 900,
city OF Springfield. o.; $50. coo, city
OF harrisburg, Pa" and $4,000 city
OF Hanesyllle, o., bonds, total of
SlG6, 900 forged bonds. Quigley
confessed to tho forgery aud cXou.
crates his partner, who Is resident
of New Haven.
Quig!eY IS resident Of Orange,
n. j., and claims that ho lost tho
money i'll speculation. The forgery
was discovered yesterday when the
Mercautile BAnk presentad at tho
American Exchange National Bank
II coupon from a Cleveland city
bond Tor payment. Quigiey WAS
arrested this morning and taken to
tue Mercantile bGnk, where he con
fessed. Presidout st. John had
been at work al night aud attach
ments were Immediately leyicd
upon QuiRicy's oiicn aud his va
rIons brokers in Wall street. Ills
property IN Orange Is III the name
oi his wife and cnunot be reached.
President ST. ohm said the banks
apparent loss will be greatly reduced
hy levies under attachuents. The
irm of Quigley ~ Tut;c, dealers in
county and municipal bonds and
other investment securities, was or.
ganiZed In 1920, Quigley having
been connected with firm of older
customers OF tho firm. The firm
was organized under the advice of
Tuttle's father, one OF the most sub
stnntial and we'll posted citizens of
New York, himself Il long time friend
of the bank.
Evidence OF confidence in the firm
on the part OF moncyed institutions
and others throughout New England
and tho business like conduct leaves
no room for suspicion of Quigley at
any point. The bonds forged were
those OF cities whose credit Is high,
and they were hypothecnted to the
bank from time to time uuder eX-
changes OF collateral among the diff
fcrent loans. Quigley attributes his
downfall to speculatious, OF which
he kept no record, depending on
memoranda.
In applying to another broker for
valuation OF securities, the Nor
camille Bank was led to question the
validity of the Cleveland bonds aud
to silence the doubt, sent the cou
pom To the American Exchange Ma
tlounl Bank, with the result notol.
Quigley Is about 3G years old, auu
was originally Il evil engineer. lie
then became connected with the
bond huuso OF S. \. kean & Co., OF
Chicago, which established Il branch
IN New York, Quiglcy coming on ns
an employe.
He then entered into copartner-
ship wiki Farson, Leach X Co. with
drawing later 10 form the iirm of
QuIgley, Hartman " Inttle, Harri.
man Withdrawing later. Wm. L.
Iuttie Is the son of the late John B.
H'a'N' Nithsul CI Oi tAlc .NCH LUNcH
Savings Bank. Tuttle has been
located in New Haven Tor the firm,
which ala big business IN Now
England. and he relied upon Qnig-
ley for the management OF the firms
business III New York.
1t IS not believed that lie lost eli
o! the money III speculation Gs be
states. lie was very high liver aud
. member of ali the swell Orauge
Clubs. He was also Interested Ia
trotting horses and had stock farm
III New jersey. He speculatcd in
Wall street through L number OF
brokers, but his largest specuiatlons
wero in bonds. lie is supposed to
have .ost heavily on account OF de-
cline III the new per cont. Govern
ment bonds.