Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1919-01-11
CHICAC0MAN
FACES JAIL
WITH SMILE
Willard II. Cutter Con
fesses Forging $500, 900
Bonds and Is Happy.


man" who sought conscientious re-
aggregati1g $500. 600 yesterday, ap-
parently attained his objective.
While awaiting arrsignment to-
day he sat in an ill-smelIing cell in
the basement of the Harrison
street police station and talked
composedly. even brightly. of the
vanishing Of the spectre OF guilt
which had haunted him for the four
Tears during which he forged mn
nicipal and school bonds in back
ing an iron mine at Poplar Bluff,
NO.
Attired faultiesslv. he had cell
mate, one James Thomas Mathews.
q negro, accused Of a misdemeanor.
Nearby we're others OF the SUD
merged tenth"
Il wasn't looking for happiness"
said Gutter That mine will make
>.money Vet. or there is no virtue
lathe opinion Of six experts. Nor
would | have been found. II SIM
ply came to pass where I had to
regain the tranquility of my mind.
So | voluntarily confessed and now
am contented. ! would even be
happy. if 1t we're not for the grief
this will cause my poor wife
At this point Mathews was taken
from the cell. Cutter shook hands
with him and as the negro disap-
peared. commented:
Now there goes a happy man.
He is the only man in here who
carries in himself real happiness.
He's a regular fellow, too, and he
gave me a new outlook on life that
will help"
First Told Vile.
When Cutter determined to find
peace of mind by confession he
went first TO his young wife. with
whom he eloped nine years ago, on
Christmas day. and told her all.
Next he told a close friend over the
telephone and finally unburdened
himself to Clarence barrow, a law
yer
You admit you forged those
bonds?" asked barrow.
"Yes."
You did it deliberately
Yes"
And spent the money!"
Yes"
Well. l guess YOU are going to
prison. aren't yOu?"
Yes
GOOD luck, you have started
right at last"
Cutters next act was to give
himself up to the police. Formal
charge was made against him by
the Chicago Title & Trust company,
which had loaned him 100000 on
forged bonds.
Cutter is 40 years of age. The
iron property at Poplar Bluff was
known as the Butler Iron company,
which was purported to be a ST.
100000 property.
Il am nearer real happiness than
I have been for four. years" said
Cutter Il have quit lying to my
self. I am ready for my punish
ment. / am in good physical con-
dition. I don't know what prison
life is like. but III come through.
and then-well, then I'll come
back"
Cutters forgeries extend over a
period of about four years. His
system was simple and ancient,
merely using the printing press and
fHSen forging the names of city and
school officials to the bonds.
He did an extensive business in
this line Of securities. After pur-
chasing a small issue OF some viii
lage or school district bonds he
would take charge of the printing
If he bad purchased $4,000 of the
bonds he would have $4,000 print
ed, send the $4,000 back for the
bona fide signatures and then forge
he signatures on the remaining
$4,000
Pebbles Good and Bad Bonds.
Then he would take the forged
bonds, along with a few good ones,
and present them to banks and in
vestment firms as collateral for
loans. This is how he ran up an
account on the debit side of more
than 100000 with the Chicago Title
& Trust company.
A small block of the bonds went
20 the Continental & Commercial
National bank.
Insurance companies took some
for security for loans.
II was stated last night hv some
Of the interested creditors that they
understood bond houses and invest
ment brokers in St. Louis, CIeve-
land, Pittsburgh. and other eastern
cities, had some Of the spurious
collateral.
Has No Money Left.
So far as the creditors could as
certain last night. Cutter hasn't a
dollsr left except, what may be
lHlized from the iron company in
Missouri.
The iron company IS mine prop
csition. The corporation owns some
10000 acres which Cutter says he
believed and does believe will some
day pay out big In the effort to
put this proposition over and de-
velop the property he kept going
in deeper and deeper.
Cutter has been in the bond bust !
ness in Chicago for several years
ana was considered model man. !
HIS credit was Al with the invest ,
ment firms and he moved III the !
best circles, business and social. .