White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1914-03-22
MAY Be ON WAY
To THE FAR EAST
MILTON ID. JOSEPH, SALT LAKE
CITY BROKER, DROPS OUT OF
SIGHT WITH BIG ROLL OF
MONEY IN HIS POSSESSION.

A Salt Lake City sensation of the
past week was the disappearance of
Milton D.. Joseph, a trusted citizen
and well known stock broker. With
Joseph, disappeared $3.50. the pro-
ceeds of a sale of n thousand
shares of Utah Copper stock certif-
Gates entrusted to him by the Cont
mental National bank. Pinkerton de-
t~ectives have been working on the
case since Tuesday evening. but no
trace of the broker have been found.
He seems TO have disappeared COM
pletely. and speculation is rife as to
where he has gone and why. Joseph
has a bundle of money in the true
sense of the word, as the cash was in
bills of small denomination and the
fifty odd thousand dollars made a
large package.
If the broker has, as Is believed
skipped out, his action is attributed
to his inability to protect himself or
Ohio Copper deals. The money rep
resents the proceeds of the sale OF
one thousand shares of the Utah Cop
per stock which had been sem to the
Continental National bank with draft
attached on him from his New York
brokers.
Joseph has been doing business for
ten years. both at the old Commercial
bank and at the Continental National.
He had grown in the confidence of
the bankers and the brokers of Salt
Lake, and it was common for him to
order stocks from eastern brokers fol
customers and for the banks to per-
NIT him to take the stock, sell 1t and
then return the mount of money to
take up the draft. He took advant-
age of this custom in obtaining the
consignment of Utah Copper stock
Monday.
The beginning of the transaction
started on Wednesday, March IL.
when Joseph appeared in the Con-
~tinental National bank and told Mr..
Cosgriff to expect 1000 shares oil
Utah Copper stock which he had or
dered from Thompson & Towle, his
New York brokers. for a customer.
He said that the stock would come
with a draft attached. and that he
would make between $500 and $500
on the deal, but that his customer
did not want to be known in the sale.
Monday morning a registered let
ter containing 10 certificates calling
for 100 shares each of Utah Copper
stock arrived at the bank. Attached
was a draft for ~s54,333.10. The
AMOUNT included the market price
of the stock on March IL. the interest
charges and the commission oil
Thompson & Towle. There was an
other letter from a brokerage firm In
Cincinnati containing stock With
draft attached amounting to ST.
923.45. The bank informed Joseph
that the stock had arrived. He sent
his personal check for the amount OF
the ~$1923.45 draft. At 10:45 o'clock
Monday morning Joseph appeared az
the bank and asked to be permitted
to take the s54.33.10 worth of stock
and the draft from the bank to sell
to his client. promising to return the
amount the draft called for in cur
rency.
From that time all definite trace
OF the broker is lost, although he is
reported have beer seen in a cafe as
late as 1870 Monday afternoon. and
latter told his s~tenographer, Ruby l..
Culver. that he was going to Ogden
on a business trip and would return
either Monday or Tuesday.
There is evidence to indicate thai
Joseph left Salt Lake on the Portland
express leaving over the Oregon
Short Line at 2:05 Monday after
noon. There is a suspicion gaining
ground that he back tracked from