The sun., 1912-07-05
YOUNG MAN ARRESTED
FOR $4,000 BOND Theft
Wall street Clerk Said to Have
Sold Bonds to Rcinhardt
for $4,000.
LOST GAINS on MARKET
Peter j. Eliot Gave Detectives
Long Chase After steel Co.
Paper Was Missed.

A young man who is said to nave
walked of about year ago with forty
81 900 bonds Of the Southern Iron and
steel Company. which he disposed of
for $4,000 to j. Thomas Reinhardt.
former curb broker and boomer of Por-
cupine stock. Is locked up In the
Leonard street station charged with
grand larceny. The bonds, according
To representative " the steel COM
pany. have nearly all been recovered.
Peter ]. Eliot IL the name W the man
under arrest. He Is 26 years old, sharp
eyed. well dressed. and not at all put
out by his capture. He had little To
say yesterday in Police Headquarters,
but the detectives who made the arrest
told his story for him, and 1t was the
old one Of sucker speculation and
chase around the country ~ elude
capture.
Eliot had been on the fringe Of Wall
Street for ten years as messenger boy,
clerk and bookkeeper. and he acquired
a certain kind OF knowledge that was
useful later on when II came to qucs-
ton of disposng of the bonds. Finally
nc entered the employ. 40 the DETECTIVES
say. of Warwick. Mitchell & Co. pub
lie accountants. Of 10 Wall street. That
was Ave years ago and Eliot lived the
unevcntful life of the little ones below
the dead line until the time Of the
Southern Iron and Steel Company re.
organization.
The Southern Iron and Steel Company
Ia n $1O.OO0,O 900 corporation of Birming-
ham, Ala, and Is represented In this
city by G. a. Grenfell at "a Broad
street. The firm of accountants that
employed Eliot in a minor capacity was
called on to check up the affairs Of the
steel company preparatory to rcor-
sanitation and Eliot was wandering all
day between plies Of bonds and stocks.
one day. the police say. he picked up
forty first MORTGAGE bonds of the de-
nominal tion of $1,000 each and walked
out with them.
As soon as the bonds were missed the
police were Informed and Commissioners
Dougherty has had detectives hunting
for Eliot ever since. They say that he
first went TO j. Thomas Reinhardt. who
is being eagerly sought by many per-
sons who had dealings with him on the
curb during mis- boom Of Porcupine and
who decamped one day leaving a sign
on his office that he had temporarily
suspended business. Eliot. In the mean
time, according to the detectives. dis
posed Of the bonds to Reinhardt for
$4,000 and then dipped into the market.
Mining stocks and Broadway claimed
his attention and most OF the $4,000
soon disappeared. Then he also faded
from the sight Of New York. BY that
time detectives were on the case and
trailed him to Syracuse and several
cities OF the middle West. They lost
him. but a short time ago they heard
that he had come back to town and
would be at Seventh avenue and Fifty
eighth street yesterday morning.
Detectives DeNanny, Whalen and
Flaherty and man named John Baily.
who said ne represented the Southern
Iron and Steel Company. were waiting
for Eliot when he came along about 10
o'clock. He was taken to Police Head
quarters and later locked up. He will
be arraigned in the Tombs police court
to-day or tomorrow.
Eliot was very silent on the subject
of his arrest and would not say where
nc had been nor what he did with the
money he got from the sale OF the bonds
to Rcnhardt Mr. Baily said that the
bonds had been recovered from all parts
Of the country in small lots and that
none was missing.