New-York tribune., 1905-08-02
FORGING INVOLVES MAYOR
BELCHER IN PETERSON.
Prosecutor Has Report of State
Officials Investigation.
[RY TELEGRAPH TO THE TRIBUNE ]

Trenton N j. Aug. 1.-The State Depart
ment of Banking and Insurance Of New-Jersey
has referred TO Prosecutor Eugene Emley, Of
Passaic County, the results of an tnvestiga-
ton which are said to involve Mayor William
W. BeIcher of Paterson. Forgeries aggregating
about $4,000 it is alleged have been discovered.
In the investigation of the affairs of trust COM
panies In Paterson the Banking Department dis
covered loans made TO Mayor Belcher for which
collateral was furnished in the form of stock
books or receipts of the Manchester Building
and Loan Association of which Mayor Belcher
is president
In the usual course Of its Investigations the
banking department investigated these loans
and found that in some the name of the
secretary of the building and loan association
had been forged: in others the books we're en-
tirely fictitious. and in other cases they had
been pledged and were. therefore, of no value
collateral to the trust company
Three trust companies are said to be involved
in the loans the Hamilton Trust, the German
American Trust and the Citizens Trust Com
pariy. The amount of the loans held by the
German American Trust Company is q bout
5000, and there is said to be 5000 distributed
between the two others. The banking depart
ment on discovering the state of affairs and
that the amounts involved did not in any way
affect the standing of the trust companies did
not act. but instead submitted the facts dis
closed to the Prosecutor
Paterson. Aug. 1.-Rumors that Mayor Becher
had disappeared and had been missing for a
week are untrue He was here yesterday. COM
ing from his country home and remaining some
time He is said to be either in this city or at
his farm tonight. He is said 10 be in the hands
of friends and that no occasion for him to go
away will arise.
1t is said here that a week or so ago a State
hank examiner, while making a regular exam
ination of one of the local trust companies, dis
covered some securities to the form Of which he
objected and on which the company had lent
money TO Mayor Belcher The Mayor is said 10
have been summoned. and either he friend
took the securities UP at once
There was meeting tonight of the officers of
the bank 1t lasted until after II o'clock, when
the meeting adjourned. Officers said no action
had been taken relative to the securities or
the transaction, that there was none the bank
could take and that the bank was quit of the
matter days ago.
II is said that the incident caused the Mayor
considerable inconvenience but that his friends,
coming TO his relief. saved him.
Friends of the Mayor say that they believe
he will make good any loss which may be
caused the company They believe ne is equally
a victim with the trust company.
Mayor Relcher has long been prominent in
Passaic County politics He elected a year
ago last fall by the Republicans. Recently he
announced that he was candidate for re-elec-
ton He the first Republican 10 be elected
Mayor for many years. He has borne un-
blemished reputation, and has been popular
throughout the county.