New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-11-11
THEY RAN A BOGUS BANK.
ONE PLAN OF THE SYNDICATE OF SWIM
Oilers.
THEY ALSO HAD A COAL AND Gil. COMPANY AND
SOLD SHARES IN IMAGINARY LANDS


IN KENTUCKY.
As more light Is thrown upon the operations OF
william f. Valentine, II. W. Connors. EdwaFo
p,co and their associates who are either under
arrest or being hunted for by the detectives II u
made clear that the syndicate OF swndiers resorec
10 several different methods OF raising money anu
they were successful In many places iar o'sta"s
from this city. One method was to get connec'o".
with firms having good commercial rating ana
forge notes for large sums IN the names OF the
firms. Such notes. representing many thousands
OF dollars were negotiated. Another methoo was
TO make OF small bank accounts. overora" vac
accounts by thousands Of dollars and tnen ais
appear before the checks could be presented al the
banks Another method was to trade on the creo's
of well-known banking firms.
AscertaIning that certain banking nrm 10
Broad-st was well known In Virginia. the SWIM
dlers started bogus banking hrm, win Mans
almost Identical, In Stone-s'. At the stone-st'
place agents of the swndlers received credt on '"s
books for large deposits. Then the agents wohid
go to Virginia and buy large amounts OF COM
modtes on credit. gazing reference to the stone
ST. house. An agent working under the name OF
saliman bought lumber worth $500 frSm %esl Ss
that the reference given by saliman was to that
He se ss rapS Is al h
He has $4,000 on deposit here" Saliman got the
money a nSp the dealer in virginia los; the q
the lumber A number Of such transactions were
close the Office in Soonest. and beat a hasty re-
treat to new quarters under another name. III
The swlndlers also started coal and oil COM
pany. and sold shares on the pretence Of owning
coal and oil lands in Kentucky II IL believed that
methods OF swindling.
understood that William Valentine nrnex va:
and that the chief witness lgainst him was May
Vintage the girl who ATTEMPTED suicide after she
was induced 10 pass upon Henry Batterman. Dis
trict-Xttorney Backus OF BrooklyD, would neither
been secured. The man will be arraigned before
Justice Ms S the nsS co.r s an d.
legged confession from Valentine. given in morn.
ing paper yesterday had been m ac,s TO nm man
known. he intimated that they would be strtkingly
aUssa o ts0T That the
made by Valentine was not a confession at all, but
Mr. sacs sS aS he think oh.
would be aSs n %n the n:
SrookIyn Detective Bureau, said that he had no
definite knowledge that connected valenlns With
son. who was arrested and discharged several
mHni Is SAID by the police of oboem that vaien.
tine was at the head Of fraudulent concern which
existed and cleared large sums In that city year
the head Of a Arm which opened an ONCE in the
second National Bank Building. In aoboken and
peg nesa sounry fhs Shipments received sold
whatever they would bring a fictitious credit was
established by Wedus VI hauuui'Ht Win y
commercial agency, and large amounts Of the firms
paper were discounted in Boston and other cities at
large rates. This led TO an examination Of the
company's financial status by the police: and It was
Sound that they did business "A credit basis al
most entirely. Meanwhile many OF their notes
went to protest. and the authorities OF half dozen
cities reported the facts 10 Chief Donovan. He BE-.
gan an inquiry into the methods OF the Arm. ana
was Indignantly referred to the Second National
Psnk Valentine II IN SAID had secured the conn.
dence of the officials Of the bank and was negoti.
ating with them for big loan He had displayed
which were said to have amounted to $4,000. ana
were afterward suspected to be forged papers
The negotiations stopped. or Chief Dom
oyan's warning. and the firm asked TO withdraw
their accounts. They did so promptly and. learn
ing that the police were on their track left the
town soon afterward.