New-York tribune., 1911-03-07
AGED BROKER ROBBED
OF $4,000 NEAR VAULT
Theft in Produce Exchange
Building Last Thursday Found
Out Only Yesterday.
SECURITIES NEGOTIABLE
Envelope for Deposit Replaced
by Dummy After Thief Ran
Into Aaron Bancroft and
Jostled Him.


Consolidated Stock Exchange. went TO
his safe deposit vault in the Produce Ex-
change Building last Thursday to put
away an envelope containing securities
worth SS5, 900. In an underground cor
ridor he cannoned into one of two men
hurrying along and fell. The stranger
helped him to his feet. picked up the
envelope and hurried away, apologizing
first for the accident. Mr. Bancroft
went on TO his vault. deposited the en-
vclope and went home.
George Bancroft went TO the vault yes
terday morning to get the envelope de-
DC sited by his father on Thursday. he
found 1t was a dummy. filled with news
paper clippings The thief or thieves
had a clear start Of three days before
the crime was discovered. as we'll as all
Thursday evening. Most Of the securl-
ties stolen are negotiable. it is said, ana
NAV have been sold already to innocent
purchasers.
covery of the theft to r. NJ. Jarvis. presi-
dent Of the Consolidated Stock Ex-
change. as soon as it was made. with
list of the stolen securities. The list was
sent out over the tickers TO all the
brokerage firms in the city and transfer
was stopped Immediately The first step
of the exchange was 10 determine
whether the loss of securities would al
! feet the solvency of Bancroft & co. MI
Jarvis said. however. that he had been
satisfied that the financial standing OF
the firm would suffer in no way. Inc
firm has done business on the Consoh-
dated Exchange for twenty-five years
and has a capital of $150,OoO. 1t is said.
Practically all the securities stolen were
! negotiable, and the bulk of them may
have been disposed of between thursday
afternoon and yesterday morning.
Detectives Work in Vain.
Several detectives from Police Head
quarters and Pinkerton men were WORK
ing on the case Yesterday. None of the
missing securities had turned up nor had
anv trace of them been discovered up TO
| last night, according to the police sus-
nicion is directed against discharged
employe of Bancroft & Co. but william
NJ Sullivan. of No. 81 Nassau street. at
tornev for the firm, said that 1t had no
proof of his guilt.
fvbe Pinkertons were inclined to be-
lieve that the robbery was the work OF
clever bank thieves who had made them-
se,ves familiar with the habits of Aaron
Bancroft. Some of the headquarters
mon took a different view OF the mat
fer and suggested that the securities
MIGHT have been stolen in the firm S
Office.
o,riro In tho circumstances Is related
bv Mfr Bancroft of his encounter WIN
the two men I'm the corridor ana the
finding In the safe deposit vaults yester-
dav Of a substitute envelope, identlcai
In shane and color with the original one
IN which he said the securities were
placed on Thursday, the Pinker'on 'he-
orv had the most adherents.
Aaron Bancroft is eighty-four years
old. and his partner in the firm is MS
con He is rugged and active for his
age. and had persistently refused TO nave
any one accompany him as guard on
h;s trims to the safe deposit vaults,
though il had often been suggested by
his son. 1t was the custom for eitner the
fatber or son TO deposit securities in the
,.auIts every Thursday afternoon and
take them out on Monday morning. Inc
office Of the firm is in the rear of the
building No. 16 Beaver street and the
entrance 20 the Produce Exchange Build
i,g and the safe deposit company Is
soarceIv two hundred feet away, across
an omen court Any one going to the
rou,ts would be in sight of the office win
dov,s until he entered the Produce Ex-
change Building.
The securities had been duly checked
49,, by the stock clerk in the firms office
on Thursday afternoon and deposited III
Tho envelope by George Bancroft before
his father started for the vault
Collision Near Vaults.
MIR Bancroft went downstairs inside
tho Produce Exchange Building ana en-
tered the hall leading to the safe deposit
vauIts which turns at right angie
about twenty feet from the stairway ana
leads I'D to the safe deposit company en-
franco through a much longer hallway
Az the broker approached the turn he
roticed a young man standing against
the wall. he said. An older man came
suddenly around the corner and ran into
him knocking his hat off and the large
manila envelope from under his arm, ne
said.
Roth men Jumped to his assistance as
ne fell. he said and the older man was
nrofuse In his apologies for the collision
Ie reached for his hat and the envelope
and picking them up. went on his way
rd dismissed the incident from his
mind he said He deposited the securi
l,ies and thought nothing more OF tho
matter until yesterday.
I, developed that the dummy envelope
r,as Identical with the original one, ex
ccpt that it did not have the name OF The
orm on IL. Mr.. Bancroft didn't notice
that when ne put 1t in the vault HI
said Yesterday that he would probably
ma, he able to recognize either OF tn
men if he should see them, as he had no
noticed them carefully. He said h
noted in a general way that the younge
man was about twenty-five years old
smooth faced and fairly tall. The othe
man was perhaps forty-fve years old. h