New-York tribune., 1912-02-08
ROBBED TRUST COMPANY
Custodian of Vaults Steals S3O,-
500 in Reserve Fund.
DEPOSIToRs' BOXES LOOTED
Director Reported to Have Lost
100000 in Bonds-Thief Fled
from Philadelphia in August
rpy Tcleer,nh 10 The tribune.

PHILADELPHIA. Feb 7-OffiCials OF the Mer-
chants Union Trust Company here to-day
admitted that Walter 5 Shourds. VINO Is
fugitive from Justice. after stealing *%'0O
in cash from the safety deposit vaults or
the company of which he had charge, not
only took this amount from the reserve
fund Of the trust company, but that ne
gained access to the safety deposit vaults
of at IeasT ono Of the private customers OF
the trus, company.
| While the trust company offlcials refuse
10 name this client. it is known to be
George Burnham. jr., one OF the directors
of the compant. and the amount OF his loss
IS said 10 he H. the neighborhOod OF $loo"O
in coupon Londs These. with some valu-
able iewclry, he kept in the safe deposit
vault. but the iewery was not touched.
Whether any other clients OF the trust
company are losers the officials do not
know. or refuse TO tell. They have endeaV-
ored to keep secret the pecuationS OF
| Shourds, other than the reserve fund loss,
for months, and until to-day have made re-
pcated denials that Shourds got into the
safety boxes Of private customers. Even
to-day the officials are reticent. Their open
statement reads:
What is stated in New York paper this
morning Is an exaggerated and incorrect
! version of an old rumor. The parties IN
| torested believe il would be injurious 10
| their interests 10 discuss it at the present
time in any way, especially as the loss Is
! trifing
Pressed for further statement the Of
fcials said:
We have nothing more TO say than in
the statement made public. That is the a6-
| and although Mr.. Burnhdms name mas
| been mentioned I'm connection with the rob
| berry "a" cannot say NOR" at this time. III
! We were to say Mr.. Burnham Is not the
! man then some other name would be
| brought ont and We would b" asked 10 pass
! upon the question whether the second
! name was IN" right one. Mr.. Burnham is
perfectly satisfied 10 let the matter stand
! as II is He Is director I'm the company,
| and is familiar with everything that has
! taken place
Mr.. Eurnham. who for years was con-
nected with the Baldwin Locomotive Works
and IS a millionaire several times over. to-
} day absolutely refused 10 discuss tho mat
! ter. When he was asked just what socuri-
| ties belonging 10 him Shourds had taken. he
/ refused io say, and when asked 10 deny the
| story he refused to deny IT,
/ Shrouds disappeared on tho night of Au-
gust -. Two days after when the box con
tanning the reserve fund of the trust com
/ pany was opened. II was discovered that
/ Shrouds had derampod with S30J0 Of the
amount He fed. leaving a wife and child
/ behind. but ne has been I'm communication
! with Mrs. Shourdg since
Tn" trust company put the case i'm tho
! hands Of the Burns Detective Agency. who
| traced ShoUris 10 Liverpool several weeks
ago. I'm tho mean time th" trust company
officials started negotiations with Mrs
Shr"uds FOR IN" return of the securities
/ taken from safe deposit box
| William j. Burns. who has been retained
10 discover and apprehend Walter :
ShourGs the fugitive Superintendent ~ the
vaults of tho Merchants Union Trust com
panv. of philadelphia. denied Yesterday
! that tho operations of In" missing man
! had included wholesale lootlnR ~ the
/ boxes IN th" vaults. and that from the
/ hoN Of George Rurnh3m. ir, IN particular
/ S""" in cash had been taken
! The vaults of Tho Merchants Union
/ Trust Company said Burns were sur
rounded with every safeguard They were
hUrCIar proof Just as tho company claimed
/ n Us absolutely uutry" that Shourds found
! a method ~ opening tho boxes IN m"
vaults Nothing was taken from any ~
the boxes I'm the vaults The story is ab-
surd II would have been impossible for
Shourds 10 omen the boxes The vaults
were safe. iust as n" vaults Of overy
| other trust company are safe. ! am not
prepared 10 discuss the case further except
10 say that there will 10 developments IN
a short time and that m" case will uti-
matelv he settled without anv loss 10 the
! Merchants Union Trust Company"
| The trust Companv may reimburse ITSELF
| tn tho extent Of 5000 right away. for that
amount Of money Is IN the hands of VIII
! lam Travors Jerome acting for an un-
named client who IS anxious to rid him
/ self of q draft sent N him by the missing
| superintendent The man in question lives
! IN New York and IS only distantly re
! lated 10 Shourds He received a few
weeks ago. a draft on the Trust Company
Of America for $4,000 The draft was In
closed in letter with q Berlin postmark.
| The man knew no onr in Germany who
owed hin, money. and suspected that the
letter was the work Of a practical Joker,
! but when he presented the draft he found
that # was genuine.
| He aid not draw the money. but waited
|
later a man came to his oflce with A
! note
The note. which vas from Shrouds, called
! to his attention the fact that the; were
related. and asked that he take the money
| and give II 10 Mrs Shourds. who lives at
/ No 237 North 18th street Philadelphia
The man who brought tho not" refused To
say who had intrusted IT To him. and when
! the recipient ~ the note sought to ques-
tlon him more closely he beat a hasty
! retreat.
The man TO whom tn" letter came took
| the draft and the note together with let
ter addressed to Mrs. Shourds. which was
in the envelope with the note, TO Jerome's
office AT No 81 Wall street. The lawyer
at once notified the Merchants Union Trust
Company. the william J. Burns Detective
| Agency and the Fidelity Bonding Company.
which had bonded Shourds for $1,000 Mr.
Jerome informed the representatives Of the
Merchants Union Trust Company that his
client would he only too pleased TO turn the
draft over to them provided that they
would agree to indemnify him against any
possible claim by Shourds. This request
tas not been complied with as yet, and the
draft is still in the possession OF Mr.
Jerome The letter to Mrs. Shourds, which
Is sealed and which has not been opened, is
also being held by the lawyer
During the last month two personals ap-
pcared I'm a New York newspaper. which
are supposed to have been inserted by the
wife Of the missing man. They were ad-
| dressed 10 John =. Wood and were signed
Ressie. which is Mrs. Shourds's middle
name one Of the advertisements assures