New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-19


The bogus bonds deposited as collateral repre-,
sented $4,000 and they were municipal bonds Of
Cleveland, Ohio, Springfield Ohio; Harrisburg,
Penn. and GAINESVILLE. Ohio The specific charge
on which Quigley was arrested that he
forged a coupon for s22 80 on a Cleveland bond.
The placing Of the bonds with the Mercantile
National Bank occurred within the last two
months. and the fraud was so ceverly planned
that it was not discovered until the coupon on
which the charge was made was presented 10
the authorities at Cleveland and found to be
fraudulent and forged
PRESIDENT ST. JOHNS STATEMENT.
William p ST. john president OF the Mercan-
tile National Bank made the following state
ment yesterday in regard TO Quigley and MIS-
stealings:
Our total advances to 0ugley were a4aS9 .S ls1 on
an active account with us for some time Al thsse
bonds we now believe to be forgeres hs,a we ess eS
forgery and to-day Qugley admitted 70 us that al
q them were frapd1sn tds h @ osn9s @ bonds 81 the
city OF Springfield $4,000 bonds OF the city Of harTis
Tbn loss % on our advances Of $4,000 against these
will be reduced by some SUCCESSFUL leviss ulnet az ae
70 show that the bank can stand the loss however
is only stock to re5sF d 70 SlF ' surplus fund
Of 0oo and undyided protsM ~ 1ne0 oi or rDor yo
ihows IN as our rez estate IS put down IN
sources for less than half its present marketaoIe
% 1ss So ,1 6eeaT Il IS IS ons when viii not
the standing Of the bank in M any g,1 way saving that
his partner. Tutte resident IN New, Haven rs ~
Geasrs IN IN tdnny n and manca mum and
investment securities. was organized in lsyi; 9uis-
toners Of the bank The firm was organized under
the advice OF Tuttles father one Of the most sub
himself longtime friend Of the & bank % ougle,ybs KS $
heat
The account has been an active one loans % ana
Taylpgeasa wldeipreaa condence in E firm oa the Of
,noneysd institutions and other hrms ~ b
account ef no room for suspicion % 9' Hagsy boss
any point The 5Snds forgel W the
bank In parcels from time 10 time under exchanges
Of collateral among the different loans QgIcg d he
kept no book record. depending on memoranda in
order blind his employers.
DISCOVERY OF THE FRAUD.
The discovery Of the fraud practsed upon the
bank was made on Wednesday. when the Mer-
camille National Bank presented coupon Tor
a 81 600 bond of the city Of Cleveland for pay
rnent at the American Exchange National Bank.
which is the New-York fiscal agent Of Cleveland
The coupon clerk at the American Exchange
Bank noticed that the coupon had strange ap-
pearance. and ne asked for time before paying
It, 1t called for s22 so. The American Exchange
Bank Immediately sent he following telegram
TO the Treasurer Of Cleveland:
Coupons payabIe the 1st inst. from Az per cent
iond % a series OF 1885. issued in redemption ana
cancellation of the same amount due August ]. 1894
signed Robert Kerr Mayor. and George Crouch. sr.
Ci'y Clerk We do not know them Shall we pay?
On Wednesday evening the bank received
reply from the municipal authorities In Cieve-
land pronouncing the bond forgery, as there
was none Of that series in existence. The Mer-
camille National Bank was Informed that the
coupon one Of n bogus bond. and an ex-
animation then begun Of all the securities
hypothecated by Quigley. They were all found
10 De tne same the Cleveland bond.
All Of Thursday tho banks officers worked
upon the case, and yesterday morning they sent
for Mr. Quigley. In the mean time they had
communicated with the District-Attorneys office.
and Assistant District Attorney Battle sent for
Detectives Sergeants Reilly and Won Gerichten.
whowentt 70 the bank. Quieley evidentlykn that
something was up. for he did not go to the bank
az the request # the officers and it was not
until the president and cashier of the institution
had gone 10 his Office that he went there. There
he was placed under arrest. and he confessed
his crime to the banks attorney s. B. Brown
ell, and when he was taken 10 the DistrictAt-
'orneys Office he again acknowledged his guilt.
lie said that he alone was responsible. and that
ms partner not concerned In his forgeries.
Al; AZ me same time that Quigey was taken to the
Distrct-Attorneys Office. Mr. Battle went before
the Grand Jury. and Indictment was found
against him for forgery In the first degree. Quig-
ey was taken before Recorder Goff. He pleaoed
guilty and was remanded until Wednesday. IL
was taken TO the Tombs
WON'T TROUBLE THE BANK SERIOUSLY.
Quigley's swndle will not the Mercantile
National Bank any serious trouble. as 1t has a
surplus OF N.000O00 1t will not, II is thought.
suHer 10 the full extent OF the $4,000 as attach
heh's nave been placed upon all Of Qulgley's
available property.
Ine bank obtained an attachment yesterday
ssa'nst Quigley a. Tuttle for $4,000, which was
ootalned on the ground Of non-residence OF the
0atners. Mr.. Quigley being resident Of Orange.
continued On Ninth Pare.