The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-03-20
Los.c. Very Heavy.

New YORK, March 19.-The fraudu-
lent scheme of the Musicas. headed b,.
Antonio Musica and his eldest son.
Philip NJ. Musica. who served a term
IL. Elmira Reformatory until President
Taft pardoned him, will cost local and
European banks not less than $1,000
told to-day. The heaviest losses prob
ably will be sustained by London
banks
Charles r. Rushmore. who represents
the Bank OF the Manhattan Company
nd the foreign banking house OF John
Munroe & Co. said to -day:
THE Musicas' affairs are even more
tangled than we AT first supposed.
There is no telling yet how hard hit
my clients are, and with them are the
Eank OF Montreal and the Anglo South
American Bank.
II shall not be surprised at any
amount that may prove the total of the
Musicas' swindles. We thought at
first that about 100000 was the right
figure. We quickly learned that near
er Sl.000,o00 was right Subsequent
developments, particularly the bank
ruptcy OF Musica & Co. and the coming
bankruptcy of the United States Hair
Company, make a real estimate diff
cult.
There are still so many shipments
OF the Musicas on their way to Eu-
rope that until the contents of these
cases have been investigated and found
either good or worthless, with proba-
bilities pointing to worthless. We sim
ply cannot guess how much money they
have taken from all the banks
II think that our losses on this side
of the ocean will be reduced to not
more than 100000, and possibly we
shall not lose more than 100000. In
asmuch as the Burns detectives we
hired have found more than that
amount in cash and negotiable secur-
tiles on the Musicas caught at New
Orleans, perhaps we shall not really
lose anything at ALL
Every Operative at Work.
MIR. Rushmore admitted that every
operative the foreign branches of the
Eurns Agency. which represents the
American Bankers Association, could
call into service has been put to work
I'VE shall not be satisfied with
rounding up the immediate members
of the swindling Musicas here" he
said I'VE want their agents and con-
federates in many European cities"
He limited that Mrs. Antonio Musica
who has been living in Naples for some
time may have been employed as an
| agent in the swindle.
I'VE know continued Mr.. Rushmore
that the Musicas had trunk full of
fake letterheads and order blanks
Whenever they wanted to impress the
local banks with which they did bust
ness. Philip Musica apparently wrote
out an order to his firm on one of these
fake letterheads and showed it, This
order would sometimes be washed
through his books besides"
In a report to the officers and direc-
tors Of the United States Hair Com
pany on February 6, 1913. b. C. Bra
man & Co. public accountants. certi-
fed that there were on hand on Janu-
airy % untitled orders amounting to
469,206 pounds of human hair, aggre-
eating in all s3,757,4So.
One feature OF the report was the
listing of $4,000 burglary insurance
carried by the firm. "I wish we had
taken out 100000 burglary Insur-
ance against Them representative
OF John Munroe & Co. said to-day.
1t has been found that the Musicas
dealth with confederates In the fol-
lowing foreign cities: Paris. London.
Berlin, ST. Petersburg. Naples, Hong
kong and Yokohama. Changed figures
in bills of lading played n prominent
part In their scheme to defraud the
banks
The relations that number of men
associated with the Musicas, both in.
their private firm and In the United
States Hair Company. bore 10 the
swindlers are now being investigated
by Burns operatives.
One OF the difficulties with which
those engaged in STRENGTHENING out the
tangled masses of the Musicas' finan-
cial methods have had to meet is tho
total absence of all books and records
OF their own business and Of important