Middlebury register. (Middlebury, Vt.) 1886-1937, 1898-09-23
FRIDAY, SEPTEMBER %, 1898.
HOIST WITH THEIR OWN PeTARD.

1t isn't often that spectators cunning
enough to devise means of defrauding
the government place themselves in a
position not only to have their schemes
thwarted but also to have the tables
turned on them and themselves become
the losers. But that appears to be pre-
clsely the position in which a lot of bond
spectators find themselves today, and
the people at large will rejoice in the
discontinue and loss which they have
brought upon themselves.
1t will be recalled that at the outset Of
the recent war-loan movement, both con-
gress and the executive department of
the government announced the deter
mination to have the bonds go into the
hands of the people, and to that end the
treasury department was instructed first
to fill all small orders not exceeding $500,
and then if any of the bonds were left to
let larger purchasers have them.
This did not please the spectators.
They wanted the bonds to use for specu-
lative purposes. In order to defeat the
intention of the government they availed
themselves of a ruling of the treasury
department which permitted bank Off
GERS and others to act for subscribers by
securing from the latter powers of attor-
ney so to do. Investigations made in
New York city by treasury agents have
developed the fact that INSCRIPTIONS
spectators, accompanied by equally
INSCRIPTIONS notaries, went among fac
tory hands, clerks, laboring men, in fact
everywhere, securing names of Sub
scribers'' and powers of attorney to act
for them, on the promise to provide the
money for the bond purchase; and by
this means they secured orders for up
wards of $10,000,000 worth of bonds.
They even forged the names of dead men
and long lists of names taken at random
from directories. These "orders," to-
gether with the powers of attorney, they
filed with banks and trust companies, to-
gether with first or whole payments for
bonds-and awaited the receipt of the
bonds.
Mdu1 VI llClu dIC SUN MdllluRs
Secretary Gage early became suspi-
cious. Sept l, in accordance with prom
Use, the government owed interest on de-
posts where subscriptions were not
fully paid up and bonds delivered. The
secretary announced his intention to
deal in this matter directly with the
subscribers whose names were appended
to orders, instead of with their attOr-
neys. The CONSERVATION among the
spectators better can be imagined than
described. Checks were received by
people who never thought of buying
bonds and others who had not put up
''dead" Endorsement and still others with
''no such person at address given"
Some of the names sent in by the spec
ulators were purely fictitious, but the
addresses given insured the spectators
receiving the bonds and interest checks.
The latter checks were endorsed and de-
posted In banks for collection. When
they reached Washington in the course
of business, it was noticed that whole
packages of checks were endorsed in the
same handwriting. Payment was
promptly refused and the checks re.
turned TO the banks of deposit as having
forged endorsement. In cases where
names were taken from directories with
out the consent of the owners and the
interest checks reached the hands of tho
Spectators and were by them endorsed
and deposited for collection, convictions
for forgery are almost certain to follow
The bonds have not been delivered, o
course, and the scared spectators ar,
sending lawyers and politicians to Wash
ington to insist upon the treasury de
partment's recognizing the powers OIL
attorney filed on blanks provided by the
department itself. But Secretary Gag
is not to be blufled in that way, and ha
prepared and sent out a circular lette
addressed to the individual subscribers
asking whether they wish the bonds de
livered to them in person or to thei
attorneys. If those factory hands an,
laboring men should conclude that the,
would like to see what United State
bonds look like and order them sent di
rect, little sympathy will be wasted OF
the "attorneys.'
Altogether the poor spectators hav
got themselves into dreadful pickle
and they are kept guessing what ney
form their tribulations next will take
1t all would be delightfully."- amusing t
the rest of the world were 1t not for tn
fact that banks have become frightene
and In many cases refuse to cash an
bond interest checks of this issue 70
fear OF being defrauded.