New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-28
ON THIRD MANS TRAIL.
another arrest an Bond Case Doubt
fuI, HOTeUer.

Following the statement OF District Attorney
Jerome that in all probability there would not
be a third arrest in the Trust Company or
America bond theft case. IL was learned yester-
day that the third man." who is suspected OF
having at least furnished some of the brains
for the conspiracy. is out Of the country. He is
a Boston lawyer. one Of good family, whose
name has not been published In connection with
the case.
1t is known that Oliver NJ. bennett, under ar
rest on a charge of receiving the stolen bonds.
named several men in the statement made by
him Friday. This statement, with that Of
William o. Douglass. the loan clerk who took
the bonds, and other evidence in the was
taken to Lakeville last night by Assistant Dis
trict Attorney Murphy. lie and the District At
torney will spend to-day and tomorrow in
going It, with a view Of determining
whether any other persons can be connected
criminally with the conspiracy. It is thought
possible that Oakeigh Thorne. president OF the
trust company. will run over TO Lakeville from
his country home at Mnbrook. Duchess County.
William F. Sheehan. counsel for the trust
company, said yesterday he had had no COM
munication from ex-Mayor Josiah Quincy Of
Boston prior to the time the company discov-
cred the thefts Of Douglass. But on Sunday,
after the loan clerk had been arrested Mr.
Quincy called him on the telephone and told
him the story of how bennett had sought to
retain him as counsel. stating a hypothetical
case of man who had taken 81 100000 in Sc
curities from an unnamed financial institution.
1t was learned yesterday that two OF the bro
kerage firms holding securities Of the trust
company hypothecated by bennett were Red
mOnd Co. and Carpenter. Baggott & Co A
member of the latter firm said last night thew
had Informed the Trust Company of America
that it would recover $4,000 in bonds held by
them by paying up the loan made to bennett
on the security. bennett. the broker said. had
traded with them in conservative way for
two years or more. carrying from 100 to 200
shares OF stock at time He was usually ahead
of the game, and in spite Of a recent loss %
$1,000 in Canadian Pacific had a balance or
5000 TO his credit when arrested
Forbes J. Hennessy. counsel for bennett. indi-
Gated yesterday that he hoped 20 obtain i'm
munity for his client on account OF revelations
made by the broker in his statement regarding
others.
Referring 10 the statement Of ex-Mavor
Quincy. in Boston. on Friday. that he had onIv
a slight acquaintance" with bennett. Mr.. Hem
messy said:
It seems 20 me that there must be an error
somewhere. for Mr.. Quincy and MP bennett
have known each other intimately for a good
many years.
The lawyer intimated that there might DO
some interesting developments in the case be-
fore many days
A bank examiner of the State Banking De-
partment said yesterday there would proba bly,
be some change In the methods OF handling col
lateral on loans as a result Of the exposure Of
the Douglass operations. Loan clerks should not
be allowed 10 go out to luncheon, he said as II
gave them chance to dispose Of securities and
dabble IN Wall Street.
Boston. April 27.-According 10 ex-MayOr
Quincy. he told a representative OF tho Trust
Company OF America last Sunday all ne knew OF
Douglass and bennett Mr.. Quincy says that
he Douglass later than last Saturday morn
ing with bennett.