The Montgomery advertiser., 1905-06-21
DISCOVERED
 AFTER DEATH Broker GaSkill in Life q Plunging FOrger. ONE MILLION INVOLVED
 - Stock Certificates Raised to
 Big Amounts. Case Constitutes One of Most Remark able Criminal Records Known to the Financial Circles of
 Philadelphia.
ONE MILLION INVOLVED

Philadelphia June 20.--One of ths most sensational cases of forgery that has ever brought to light in financial circlss of this city was disclosed today when 1t was announced that certificates calling for small numbers of shares of stock had been fraudulently raised to hundreds of shares. causing loss to certain banks and trust companies of this city of from s75o,000 to $1 ,000. coo.
 The forgery involves the name Of Benj. H. Gaskill who died four weeks ago. Gaskill was the sole member ox the banking and brokerage concern known as Bent. H. Gaskill & Co. Fla had offices in the financial district and his credit was considered gilt edged.
 At the time of Gaskiirs death he waa believed to be worth about a half mii- lion dollars He left no will and ad- ministrators began to close up his bus mess. A patron of the firm whose name is not given, bought from the estate 100 shares of PhiladeIphia Trac- ton stock and 100 shares of stock of the United States Steel Corporation. He turned his account over to E C.. Miller & Co.,, which firm sent the 100 shares of Traction stock to the Phll- adelphia Traction Company to have the transfer recorded. The certificate did not agree with the company's books and an investigation showed that the
  shares to 100. The discovery was re- ported to E. c. Miller & Go. which firm imediately notified the stock ex- change, of which Gaskeil was a mem Der, which in turn sent out notices to its members not to receive stock certif- icates from Gaslkill's estate.
 Surprising Reveiafiens.
 A further investigation brought to light surprising state of affairs. It was found that Gaskill had credited himself with 5000 shares of Philadei- phia Traction stock valued at approxi- mately $600.000, while the Traction Company's books showed he had only 400 shares. It was also discovered that he raised stock certificates of tha United Railways of New Jersey from two to 200. and the certificates of the. Frankford & Southwark street Rai}e &@ Company of this city from two, tosfwc.t- z ty. The latter stock Is worth $4E0 a share.
 GaskilI kept two accounts. one re- cording the transactions of his custom CTS, which was correct, and another giving his own transactions. Ills books showed that he was losing from s15,0O0 to $25,000 a year in his business. His method of operation was to obtain cer- tificates of gilt edged securities call ing for one. two, three. or some other small number of shares, raise the fig- ures and give them for security on large loans. At least six banks and trust companiesA admit holding fraud- ulent securities for large loans. Not one of the institutions will make public the amount of money they advanced but a financier who has been making an investigation said tonight that the amount of money raised will aggregate between $500.000 and S1.000.000. It fa believed that very little will be recov- cred from the estate
 Gaskill was about Al years old when he died and was a high liver. He was n member of the Manufacturers' and other clubs and well and favorably known. Gaskill left a widow to whom the stock exchange a few days ago paid s5,000 as life insurance. His seat on the stock exchange is valued at $15.- poo.