The San Francisco call., 1905-06-21
Crime Is Revealed
After Death of
Culprit.
Enormous Stealings Of
a Philadelphia
F'inancier.
Obtains Loans on Stock Ger
tifcates on Which the
Figures Are Raised.
speelal pLspateh Q 90 cal

PHILADELPHIA, June 20.-One Of
the most sensational cases of forgery
that has ever beeD brought TO light In
financial circles OF this city WAS dis
closed to-day, when il was announced
that certificates calling for small NUM-
bers Of shares OF stock had been fraud-
uIentIy raised TO hundreds of shares,
causing a loss TO certain bOndholders
end trust companies OF this city OF
from S55O,Oe0 to S1,000.OOO.
The forgery involves the name of
BENJAMIN II. Gaskill, who went 10 his
grave four weeks ago Gaskln was
the sole member of the banking ana
brokerage concern known as Benjamin
Il Gaskill & Co He had Offices IN the
financial district and his credit was
considered gilt edged
GaskiI died about four weeks ago
and al the time of his death he was
believed TO be worth about half a mil
lion dollars. He left no will and ad-
ministrators began TO close UP his busi-
ness.
A patron Of the firm, whose name is
not given. bought from the estate 100
Shares Of PhiIadeIphia--IFsae es4oss-C Com
pany stock and 100 shares of stock of
the United States Steel Corporation
he turned his account over TO Z. c.
Miller & Co, which firm sent the 100
shares Of traction stock TO the Phila-
have the transfer recorded
FORGERIES ARE EXPOSED.
The certificate did not agree with the
company's books and an investigation
showed that the certificate had been
raised from six shares to 100. The dis
covery was reported TO Z. c. Miller q
Co., which firm Immediately notified the
Stock Exchange. of which Gaskill was
g member, which in turn sent out no.
fO
stock certificates from the Gaskill
estate A further investigation brought
to light a surprising state of affairs.
IL was found that GaskiIl had
credited himself on his own books with
COCO shares of philadelphia Traction
stock, valued at approximately $60O,000.
while the traction cOmpany's books
showed he had only 40 shares. III WAS
also discovered that he had raised
stock certificates of the United Rail-
ways OF New Jersey from two TO 200
and certificates of the Frankfort and
Southwark Street Railway Company of
this city from two TO twenty. The lat
ter stock is worth Sz30 share.
Caskill kept two accounts, one re-
cording the transactions Of his custom
ers which was correct and another
giving his own transactions. His books
showed that he was losing from SO, 900
TO $40, 900 a year in his business. His
method Of operation was TO obtain GER
tifcates Of gilt-edged securities calling
for one. two, three or some other small
number Of shares raise the figures and
give them as securities for large loans.
BANKS WILL LOSE HEAVILY.
At least six banks and trsst COM
panfes of this city admit holding fraud
uIent securities for large loans. Not
one of the institutions will make pub
lie the amount of money IL advanced,
but a fnancier who has been making
nm investigation said Tonight that the
amount Of money loaned on the raised
certificates would aggregate between
S75O,OOO and SI,OOO,OOO. 1t is believed
very little Will be recovered from the
estate.
Gaskill was about Al years of age
when he died and was a high liver He
was q member Of the Manufacturers
and other clubs and was well and IA
vorably known. The administrators of
the estate, Lincoln L. Eyre and George
NJ Wagner. have retained John G.
Johnson TO protect the interests Of the
estate.
Gaskill left a wife, to whom the Stock
Exchange a few days ago paid $4,000
as life insurance His seat on the
Stock Exchange is valued at $4,000