New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-05
Wall Street Clerk Caught After
Chase of Many Months.
BONDS LONG AGO RECOVERED
It Is Said They Were Sold for
$4,000 and Proceeds linen
Lost in Speculation.

After Guiding the police of this city ana
poetor several months. Peter j. Eliot. OF
No 30 West 23d street. was picked up py
De,ec,ivas Deyauy, OLoughlin, Flaherty
and Whelan ~ Deputy Commissioners
Dougherty's staff as he was standihs a'
the corner of 5Sth street and seventh ave
nue. Yesterday afternoon, and was lo'Ne'
up ON "A charge of stealing $D'oO III oou'"-
ern Iron and Steel bonds, which had oeep
ntrusted to his care.
Eliot had been employed five years oy
fine firm of Warwick, Mitchell & Co.. ac-
countants, Of No. 70 Wall street "hich
WAS commissioned by the Southern iron
and Steel Company. of No. "a Broad street
% act .s secretary for the corporation In
IFS reorganization plans. Eliot. trusted
emplove. was installed as assistant treas
urer and secretary, and had free access 10
the CORPORATIONS vaults. In when were
kent millions of dollars worth or securi-
tics Tho Young man kept his hands clean
more than year with all tins "eaitn
around him. Temptation did not appear 10
have any sway over him, and the hrm WAS
proud Of him.
Then he failed to appear at his desk on
the morning Of November 20. and when IN
nuiry disclosed that he was not Az MS
homo officials of the corporation started
an Investigation of his accounts. aud found
that forty 81 800 hrst mortgage BONDS OF
Tho southern Iron and steel Company
were missing.
The police were put 10 work on the case
and started To trail Eliot. They frcquented
his usual haunts. both In this city ano
BOSTON. where he formerly lived. once or
twice they found clew to his where
abouts. but each time their man managed
10 give them the slip.
Recently the detectives learned that Eliot
had been seen I'm Syracuse. Two OF them
took the next train TO that city, but When
they thought to place their hands on their
man he had once again disappeared
The police found IT easier to trace the
course of the bonds than tt was to ma
Eliot The forty missing bonds were
found in different brokerage houses and
we're bought IN again by the Southern Iron
and Steel Company.
Yesterday the police got n Tip that Eliot
had hardened to the call OF Manhattan
once more and was in this city. They Kept
close watch. and when they saw a
stvIishly dressed young man standing on
the corner Of Seventh avenue and Sth
street they recognized him as Eliot.
He took his arrest coolly and readily
consented TO accompany the detectives 10
Headquarters. He refused to say word
about the charge against him, but he de-
uied that he had been trying TO keep out
Of the way Of the police He said he had
been in this city ever since he left the
employ Of the Southern Iron and stee'
Company.
It Is said that Eliot disposed Of the stolen
bonds for 5000 through brokerage house
In Wall street which has since failed. The
money which he got for these bonds, how
ever did not remain long with Eliot. the
police say. He is raid 10 have lost every
cent of the $500 in wild speculation.
The complaint against the prisoner was
made by John Bailey. attorney for Mar
wick. Mitchell & Co He was locked UP In
the Leonard street police station and will
Ice arralgned IN court this morning.