The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1900-02-07
/ Biz IUI.l5;EI%I
sixty.Eight Thousand Dollars IN
Fraudulent Sonds.
cuLPRlT is UNDER ARREST.
The Forger Gets Big Loans from
2 New York Banker arc
Sank on the SouH-
Gus Bonds

julius Schroeder, Of Forest Hill, n.
r was arrested in New York Thurs.
dsy on warrant charging him with
forgery on complaint Of I4adenharg,
Thalman & Co., BANKERS, who charge
Sc .roeter with forging hoadS Of the
Stale Of Virginia. UpoD these alleged
forged Virginia BONDS, amounting 70
about 500, 600, It IS charged shae
Schroeder succeeded in obtaining !oshS
amounting to SOS, 600 from the lmpoTs;;
ers' aud Traders National b@"S S00
LaGenberg, Tha;man X 20.
According to the story as given eu'
nv CAPTAIN McClusSy, Schrocter ep-
tained an introduction to one cl tie
presidents of the Importers aud 1rao-
ers' National Bank in September last,
and negotiated loan Of $50, goo, CIV
ing as security $4,000 worth G. Elr-
einia bonds. The following month he
brought to the bank So, 900 more OF
these bonds, on which he asked for
lean Of 0,000, but there being some
suspicion be was put off for time;
Some of the bonds were sent TO VII,
ginis for verifcation when it was found
that they were forgeries. They then
demanded that Schroeder put up sooo
collateral.
On November II Schroeder called on
Ladenberg, Thalman & Co., and nego,
riated for loan Of s3S, 900. He offered
$56, 600 Of these Virginia state bonds.
He failed to get the amount that day,
and the next day returned with Slo, ,OVV
Of bonds which ne offered for loan
of $1,000 This he got in two checks
for s., 900 each. Schroeder then took
one of the checks to the Importers and
Traders National Bank aud paid that
amount on his first loan there, reduc-
ing the idebtedness to S25, 600. He
also gave the bank $50 shares Of stock
in manufacturing company in which
he was interested and received back for
them s45, 600 Of the Virginia bonds.
As he had already given the frn of La.
denburg, Thaiman & Co. $4,000 Of
the S56, 900 offered, he took SAC, ,OOO OF
the returned honds to them aad
received the $4,000 promised him
on the $3S, 600 loans.
Later the Ladenberg, Thalmaa firm
investigated the transaction and found
that the bonds were bogus and lmme-
6istely informed the chief OF detectives:
Captain McClusky said Schroeder had
also been successful IN negotiating a
loan with the Seaboard National Bank.
Here he put up $50, 900 of the bonds
and received $50, 0U0 on them.
In negotiating tie loans, Schroeder
is quoted by Captain McClusky as say
ing that the bonds were not his but be.
longed to Mrs. Emma Emeline Turner,
formerly Of Mt. Vernon, but now living
in London, England. He is also said
to have shown a power Of attorney
which authorized MIN to dispose of her
property. Captain McClusky said he
thought there was no doubt the power
Of attorney was also forgery. 1t is
said that the bonds were issued IN 1857
By the Kendall Bank Note company OF
New York city on order Of the State OF
Virginia. Previous to the full issue,
the amount OF which is not Known oy
the police, 500 of the bonds we're issued
and sent to Virginia. The order was
unsatisfactory to the Virginia officials
and the rest Of the order vas cancelled.
The 500 bonds which has been made
and shipped to Virginia we're afterward
sold at public auction in an express Of
6ce in Virginia as curiosities and mere
ly as pieces Of common paper.
Schroeder was arraigned IN police
court and held in IS, 600 bail for fur
ther examination. He was unable to
furnish bail aad was sent to the tombs.
Schroeder refused to say anything at ell
either about himself or about the fnan-
cial transaction. The woman, Emeline
Turner, whom Schroeder is quoted as
having said to have owned the bonds,
is believed by the police to be in the
neighborhood of New York instead of
in London. The police say that she
has been Intimately acquainted with
Schroeder for some years and party to
his dealings.