New-York tribune., 1905-06-21
DEATH REVEALS FORGERY
BANKS MAY LOSE 81, 900 900.
Philadelphia Broker Got Big Loans
on Raised Stock Certificates.

Philadelphia June 20.-One of the most sensa-
tiona1 cases of forgery that has ever been
brought to light in this city was disclosed to-
day, when it announced that certificates
calling for small numbers of shares of stock had
been fraudulently made to call for hundreds of
shares causing a loss to banks and trust com
panies of this city of from s75O,OoO to 81, 10000
The forgery involves the name of Benjamin H
Gaszill who died four weeks ago. He was the
sole member of the banking and brokerage con-
Germ known as Benjamin H Gaskill & Co. and
had offices in the financial district. His credit
was considered excellent.
When Mr. Gaskill died he was believed to be
worth about $500000. He left no will. and ad-
rninfstrators began to close up his business A
patron of the firm. whose name is not given,
bought from the estate one hundred shares of
Philadelphia Traction Company stock and one
hundred shares of stock of the United States
Steel Corporation. He turned his account over
to f C. Miller Sc Co, who sent the one hundred
share certificate of Traction stock to the Phila-
deIphfa fractions Company's office to have the
transfer recorded. The certificate did not agree
with the company's books and an investigation
showed that the certificate had been raised from
six shares to hundred.
The discovery was reported to E. c. Miller IL
Co who Immediately warned the Stock Elk
change, of which Gaskill had been member.
This In turn sent out notices to its members no.
70 receive stock certificates from the Gaskill
estate.
A further investigation brought to light a sur
nrisine state of affairs. 1t was found that Gas
kill had credited himself his own books with
G OO0 shares of Philadelphia Traction stock
ya1ued ar approximately 100000, while the
traction conopany's books showed he had only
4OO shares 1t was also discovered that he had
raised stock certificates of the United Railways
of New-Jersey from 200. and the GER
tieoataa of the Frankford and Southwark Street
Railway Company of this city, from 10 ~
The latter stock is worth $3.50 share.
Gaskiu kept two accounts-one recording the
transactions of his customers, Wnlch was col
reef and another giving his own transacIolE-
His hooks showed that he was losing from %lo'-
600 to $4,000 a year in his business MS
otboa of operatior was to obtain certificates
% o,lt-edged securities calling for one' l"o'
three or some other small number o. shares,
raisa the figures and give them as securities Io-
na4ias of this city admit holding fraudulent
eocurities for large loans. Not one Oh the IN
stitutions will make public the amount OIL llOley
II advanced, but a hnancier VINO nag "eSit
,naIxing an investigation said to-nlSht tnat the
amount of money loaned on the raised certIt-
cates will be between $I50,O0O and SlVVuV0o II
;s believed that little will be recovered from
the estate - 1900 ,f .e,a ,,-1,ar,
he died and lived eXtravagantly He was
member of the Manufacturers and other cluOS
and was well and favorably known
rbe administrators of the estate l-lncolil L.
E,x1ra and George NJ. Wagner. have retained
Iohn G. Johnson to protect the interests OF the
estate Csaskill left wife, to whom the sock
lmrance His seat on the Stock Exchange Is
,,eluad at S150tHb