The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-06-21
DIED BEFORE He
WAS FOUND OUT
The Late Benjamin H. Gaskill of Pail
adelphia Forger.
MANY BANKS VICTIMIZED
GREAT SENSATION IN FINANCIAL
CIRCLES.

PHILADELPHIA. June 2o.-One OF
the most sensational eases of
forgery that has ever been brought
to light in financial circles of this city
was disclosed today when it was an
nounced that certificates calling for
small numbers Of shares of stock had
been fraudulently raised to hundreds of
shares, causing a loss to certain bond
holders and trust companies of TINS
city of from S150.000 to Sl,00Q 600
The forgery involves the name OF
Benjamin H GaskiII. who Went 10 his
grave four weeks ago. GasSil was
the sole member of the banking and
brokerage concern known as Benjamin
H. Caskill & Co. He had offices in
the financial district. and his credit
was considered gilt-edged-
Died Four Weeks Ago.
GaskiH died about four weeks ago.
and at the time of his death he. was
believed TO be worth about half a mil
lon dollars He left no will, and dd-
illustrators began to close 10 his
business a patron of the firm, whose
name is not given, bought from the
estate 100 shares of Philadelphia Trac-
ton company stock and 100 shares of
stock of the United States Steel
corporation. He turned his account
over to r. g. Miller & Co, which firm
sent the zoe shares Of Traction stock
to the Philadelphia Traction COM
pany's office to have the transfer re-
corded.
Forgery Discovered.
The certificate did not agree with
the cOmpanyS books. and an inveSti-
CATION showed that the certificates had
been raised from six shares to 100 The
discovery was reported to f .. Miller
and company. which firm Immediately
notified the stock exchange. of which
GaskiiI was a member. which in turn
sent out notices to its members not to
receive stock certificates from the Gas
kill estate. A further investigation
brought to light a surprising state of
affairs. 1t was found that GdSkill
had credited himself on his own books
with 5000 shares of Philadelphia
Traction stock valued at approx
mately 100000. while the traction
company's books showed he had only
400 shares 1t was also discovered
that he had raised stock certificates of
the United Railways of New Jersey
from two to 200 and certificates of the
Frankfort & Southwark Street Railway
company of this city from two 10
twenty. The latter stock is worth S430
a share.
Kept Two Accounts.
GaskilI kept two accounts. one re-
cording the transactions Of his Gus
toners. which was correct and an
other giving his own transactions. His
books showed that he was losing from
$4,000 to $4,000 a year in his business
His method of operation was TO OBJ
tain certificates of Ciit-edged secur5-
ties calling for one. two. three or some
other small number of shares raise
the figures and, give them as securi-
ties 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 viii
make public the amount of money 1t
advanced but a financieT who has
been making an investigation said to
night that the amount of money
Ioaned on the raised certificates VIII
aggregate, between S750.O0O and S1.O0O.-
COO It is believed very little viii be
recovered from the estate
Was a High Liver.
GaskilI was about Al years of age
when he died. and was a high liver
He was a member Of the Manufac-
tureTs and other clubs and was well
and favora bly, known. The admins
traitors of the estate. Lincoln L Eyre
and George NJ. Wagner. have retained
John c. Johnson to protect the inter
eSts % the estate
GaskiH left a wife to whom the
stock exchange a few days ago paid
S15.G00 as life insurance His seat on
the stock exchange is valued at S15--
0OO.