The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1907-04-27
STOLEN BONDS NOT
YET ALL Recovered
At LEAST $4,000 OF BIG NEW
YORK THEFT is STILL
MISSING.
BROKER BENNETT is
HELD IN HEAVY BAIL
Man in Whose Apartments Valuable
Paper Was Found Pleads Not
GuiIty-Police Seek Supposed En-.
gineer Of Plot.

New York, April 25.-Oliver NJ. Den.
nett, the banker and broker who was
arrested Tuesday, was Wednesday
held in $4,000 bail for the trial in
police court on the charge Of receiv-
ing stolen property. bennett was ar
rested in connection with the theft
from the Trust Company of America
of bonds of the Chicago, Rock Island
& Pacific railroad, valued at $4,000,
by w. o. Douglas, assistant loan
clerk. Douglas is also in custody.
A representative of the district at
torney's office informed the court that
bennett was accused of receiving
1000 worth of the stolen bonds, but
he added that $4,000 was moderate
estimate of the aggregate of the bonds
stolen.
Counsel for bennett declared that the
bonds bennett was accused of receiv.
ing had been returned to the Trust
Company of America, and that there
was really no legal charge against
his client. bennett pleaded not guilty,
and being unable to furnish bail, was
remanded to prison.
Part of Bonds Still Missing.
1t developed Wednesday that at.
least $4,000 of the stolen bonds have
not been recovered. This is in addi-
ton to the $4,000 which were found
in various brokers' offices and in Den
nett's apartments in an uptown club
and restored to the trust company.
President Thorne of the trust COM
pany said that the missing bonds are
80 in number, and that he has reason
to believe that all will be recovered
i'll due time.
Efforts We're made by the police to
induce bennett to disclose the details
of the transactions in the bonds be-
longing to the Trust Company Of
America, but failed. When the po-
lice attempted to put. the broker
through searching examination Den
nett declined to answer any ques-
tons, declaring that he was acting
on the advice Of his counsel. Den
netts silence and the continued ef-
forts of the authorities to obtain in
formation from him and from Doug
las gave added significance to the re-
| port that other arrests of persons al.
legged to have been concerned in the
bond deal are likely to be made.
Third Man is Sought.
The officials of the trust company,
not content with. the arrest of these
two men, are continuing their detec.
tive work. They are convinced there
was a plot. and that there was some.
body behind Douglas in a scheme to
defraud the company out of many
hundreds of thousands of dollars.
The identity of the third man in
the plot was not revealed. but it is
stated he is more prominent than
either of the prisoners and that the
prisoners probably were his dupes.
Banking men, in explaining how
Douglas had escaped detection sc
long, said it would be matter OF
comparative simplicity for a loan
clerk temporarily to abstract secur
tiles put up as collateral for time
loans with his institution. He coul6
use them as collateral in outside op
erations through a confederate, and
by the substitution of new securities
for them from time to time, as the
original ones were required in the dis
charge of the loans with the bank
continue the process Indefinitely OF
until he wound up as Douglas did.
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