The Oskaloosa herald. (Oskaloosa, Mahaska County, Iowa) 1885-1919, 1905-06-22
DISGRACE COMES
AFTER DEATH
FINANCIAL CIRCLES or pufLA.
DELpHfA STIRRED UP.
GREAT FORGERY DISCLOSED
banks and Trust Companies Lose
from $3.50, 900 to $1,000 900 a.
Result Of Crime Of the Late
Benjamin II. onskill.


Philadelphia, June 2i,--One OF the
most sensational cases Of forgery that
has ever been brought TO light In finan-
cial circles OF this city, was dis
closed Tuesday, when II was announced
that certificates calling for small
shares of stock had been frauduleptly
raised TO hundreds OF shares, causing
q loss TO certain banks and trust con-.
panles OF this city OF from $750,000 TO
yl,000,000. The forgery involves the
name OF Benjamin II. Gaskill. who
went TO his grave four weeks ago Us
kill was the sole member OF the bank.
ing and brokerage concern known as
Benjamin II. Gaskill x co. lie had Of
flceg In the financial district, and his
credit was considered gilt.edged.
Forgeries Uncovered.
Gaskill died about four weeks ago,
and at the time Of his death he was be.
lieyed TO be worth about half million
dollars. lie left no will, and admin
istrators began To close up his business.
A patron Of the firm, whose name IL not
given, bought from the estate 100
shares OF Philadelphia Traction com
Dany stock and 100 shares of stock Of
the United States steel corporation.
He turned his account over TO r.. q.
Miller Il Co., which firm sent the 100
shares Of traction stock 70 the Phila-
delDhia Traction companys Office 70
have the transfer recorded. The Ger.
tifcate did not agree with the com.
pany'S books, and an investigation
showed that the certificate had been
raised from six shares 10 100, The dis.
coycry was reported 10 r.. g. Miller Il
Co., which firm Immediately notified
the stock exchange, Of which Gaskill
was u member, which, In turn, sent out
notices 10 its members not 10 receive
stock certificates from the Gagkill es-
tate.
A further Investigation brought TO
light surprising state 6f affairs. II
was found that Gaskill had credited
himself on his own books with 5000
shares Of philadelphia traction stock,
valued at approximately $500, 900, while
the traction company'S books showed
he had only 400 shares. II was also dis.
covered that he had raised stock Ger.
tl6cates OF the United Railways Of New
Jersey from two 10 200, and the certin-
cates Of the Frankfort and Southwark
Street Railway company, Of this city,
from two 10 70, The latter stock Ii
worth $3.50 share,
Losses Enormous.
81
cording the transactions Of his Gus
toners, which was correct, and another,
giving his own transactions. His books
showed that he was losing from S15, 900
10 $4,000 a year in his business. His
method Of operation was TO obtain cer-
tlGcates Of giIt-edged securities, calling
for one, two, three or some other small
number Of ghareG raise the figures and
give them as securities for large loans.
At least six banks and trust companies
OF this city admit holding fraudulent
securities for large loans. Not one Of
the institutions will make public the
amount Of money they advanced, but a
6nancier who has been making an IN
yestlgation said that the amount OF
money loaned on the raised certificates
will aggregate between t7GG000 and
81 100000. IL is believed that very III.
tie will be recovered from the estate.
Gagkill was about Al years Of age
when he died, and was high liver. He
was a member Of the Manufacturer
and other clubs, and well and fayorabIy
known. The administrators OF the es-
tate, Lincoln l.. Eyre and George M.
Wagner, have retained John q. John
son TO protect the interests OF the es-
tate, Gaskili left q wife, TO whom the
stock exchange a few days ago paid
5000 40 life insurance. His seat on the
stock exchange is valued at $4,000.