The sun. [volume] (New York [N.Y.]) 1833-1916, 1911-03-07
BROKER TOUCHED FOR $4,000
DUMMY ENVELOPE READY As
HE DROPPED COLLATERAL.

He II sO--Tells Of Man VINO Bumped
Into Him In the Produce Exchange
Corridor and Picked Up His vaiu-
abies-FOur Days Before discovery.
Securities mostly in negotiable shape
and worth about $500 at yesterdays
prices we're stolen last Thursday after
noon below the Byrnes dead line The
fact was not learned until yesterday
contain them was taken from the vaults
Of the Produce Exchange Safe Deposit
Company and opened at the Office Of
George Bancroft 4 Co. brokers. at 10
Beaver street. where it was discovered
! that the envelope contained only copies
Of an evening newspaper. The thieves
had apparently substituted q dummy
package for the original.
From the narrative Of Aaron Bancroft.
| the senior member OF the firm. now in
his eighty-sixth year. IL appears that
| the theft was committed in corridor
leading to the safe deposit vaults, to
which the elder Bancroft took the scott
rites at 4 o'clock last Thursday. Mr.
Bancroft says that he remembers meeting
two men in the corridor. one OF whom
bumped into him. causing him to drop
the package and his hat. The two men
pretended to assist him. he says. and ono
Of them picked up the package. In that
brief moment he believes dummy
| package was substituted
While the Central Office men were
unwilling to accept this theory "a the
only possible one to account for tho theft
they were unable to advance any other
They gave it as their opinion. and 80
did the Pnkertons. that il the theft did
occur in that manner it was cleverer
than they liked. The dead line 10 an
imaginary line. like the equator. supposed
to run across town through Fulton street
and to be impossible to professional
thieves
The firm OF George Bancroft 4 Co. 10
one of the oldest doing business on the
Consolidated Exchange. The firm di-.
rectly after the robbery became known
satisfied President Jervis Of the exchange
that the loss in no way threatened its
solvency.
According to the story told yesterday
by the members of the firm and by their
lawyer. William NJ. Sullivan Of IS Nassau
street. it has been for years the custom
OF Aaron Bancroft to carry the securities
OF the firm to and from the vaults. The
octogenarian broker made these trips
on Mondays and Thursdays. these beii.g
the days when settlements are made on
the Consolidated. Despite his years
Aaron Bancroft is still active. He Ia
rather slender. with snow white hair and
beard 1t is unusual for a man 90 old to
carry valuables through the streets
That such had been his custom for twenty
years has been known to many. however.
1t is only q step from the offices of Ban
croft 4 Co. to the vaults beneath the
Produce Exchange. The offices are Of
two rooms. fitted up in old fashioned
style. on the third floor OF 10 Beaver street.
They face Marketfeld street. To get to
the vaults Mr.. Bancroft had to 60 out
the back entrance Of his building. cross
Marketfeld street and the courtyard
under the big tower and enter side door
Of the exchange. This led him into q
side corridor and few steps from the
entrance brought him to the stairs leading
down to the vaults.
The main entrances to these vaults
are on Beaver street and Stone street.
The way The aged broker has been in the
habit OF going for 30 many years "a not
used by many others. The steps lead
down into corridor running at right
angles to them. There IL another right
! Ulo t,,rr in, TO- ntxS
feet from the stairway The corridor
street entrance OF the vaults. Just inside
the bars at this entrance there is gray
coated guard on duty.
To cover the distance between the
firms offices and the vault would take
not more than two minutes. Recently
George Bancroft had been urging his
father to give up this practice OF his OF
carrying the securities and let some one
else do it. 1t occurred to him. he says.
that it was just little bit unsafe. con-
sidering his fathers years. But the old
man insisted and. being the head Of the
, firm. he prevailed
On Thursday afternoon the securities
to be taken over to the vault were checked
of in the Office. according to Lawyer
,
!, George Bancroft. This was at the usual
: hour. 4 O'Clock. They included 500 Dis
tillers. 800 Smelters. so Beet Sugar. 23o
i, b. II. r.. 100 Missouri Pacific. 100 Lehigh
Valley and a few other stocks in smaller
amounts. They were made up into
:, separate packages and put in heavy
MANILA envelope. dark brown in color.
which had on one side the name
George Bancroft 4 Co"
With this envelope under his arm Aaron
Bancroft says he started for tho vaults
. shortly after o'clock. When he got down
the stairs in the corridor leading to ths
vaults a young man was standing near
the turn, He had just got up to the
young man when another man, older
he thinks, suddenly turned the corner
and bumped into him.
: Excuse me; did hurt you:" said the
man to Mr.. Bancroft who had retained
. his balance but had started instinctvely
to grab for his hat and for the envelope.
both of which had fallen on the ioor
At this the younger man jumped forward
= and together the two men got hold of