The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-09-20
MESSENGER BOY
AND$14O,O
BONDS MISSING
Youth of II Leaves Com
rade in Hallway and Dis
appears With Securities.
EMPLOYED BUT 8 MONTHS
Total of $750,000 in Liberty
Issues Stolen in Like Man.
ner Since March.
EMPLOYED BUT 8 MONTHS

Liberty bonds worth $4,000 dropped
out of circulation yesterday while in
process Of transfer from a banking
firm to a broker. and the police added
another boy messenger to the list of
missing persons. The loss brings the
total of Liberty bonds alone that have
disappeared from the financial district
IN six months to s75O,ooO. in the esti-
mate Of one of the officials OF one of
me bonding companies upon which the
burden largely falls.
Leo Julofsky. IL, disappeared yes
terday afternoon while carrying $140,-
900 In bonds, all Liberties of the fourth
loan and the property of f. d. Levin
son q Co. Of 50 Broadway. The youth
had been carrying securities around in
the financial district for only three
months, and during this time there has
been series of disappearances of mes
sergers bearing valuable negotiable
bonds. His home is In 1891 Madison
avenue
Julofsly. with another boy employed
by Levinson & Co., started out at / 10
o'clock yesterday afternoon with $400, ,o0o
in bonds tied up in separate packages,
all OF which were carried in a leather
satchel. The two boys were making a
regular round" They stopped at sew
srsi brokerage houses and delivered
bonds and then started for the firm Of
Maborn & Co.. 45 Wall street, for whom
they had total of ssso,Ooo in Liberty
bonds.
Disappears In Hallway.
In passing through the hall of the
United States Steel Corporation build
ing, at IL Broadway, Julofsky. who had
been carrying the satchel. requested his
companion to hold 1t while he walked
down the hall The other young man
took the bag. Julofsky disappeared.
His companion waited for some time and
then went on and made the delivery TO
Maborn & Co.
When the bonds were turned over to
that firm 1t was discovered that instead
Of s330,o0o in Liberty bonds they had
but $3.50, 900, or $4,000 less than they
should have received. They Immediately
notified Levlnson & Co, who questioned
Julofsky's companian. learned the facts
and at once notified the National Surety
Compay and the police.
The missing youth is described as OF
Jewish appearance. with dark brown
hair and brown eyes. He wore brown
suit. soft felt hat. black shoes and
shirt with a low collar.
T1,aA md
sured Levinson & Co. against loss by
theft. Officials OF that company refused
to discuss the case. Levinson & Co snd
the police were also reticent. The name
OF the messenger who accompanied Ju-
lofsky was withheld.
1t was said yesterday in the financial
district that the practice OF banks and
brokers in entrusting securities of great
value to messengers whose lack of years
might be regarded as sufficient to cast
doubt upon their responsibility Is due
10 the custom in regard to insurance
policies. The surety companies issue
blanket policies insurins the holder
against loss by theft up to a specified
amount. usually 100000 or 100000.
The holder of this kind OF policy Is pro-
tected against all his employees and is
not as particular about the reliability
OF individuals as he otherwise might be.
Inquiries often Casual.
The surety companies undertake to
investigate the character of the en-
ployees Of their policy holders. but In the
case Of large firms with many en-
ployees and frequent changes In the
personnel these Investigations are fre-
quently OF a casual kind
Among the firms that lost bonds
through the disappearance OF messengers
recently were Richard Whitney a Co.,
Sl7S.0O0; L. NJ. Prince & Co.. $1,000 !;
Herzfeh Stern, 5000: Simmons &
sIade, $4,000; Mcclure, Jones & Reed.
100000; Strong & Sturgis. $4,000; /;
suecthwayer & Cohn, $4,000.
There have been numerous thetts OF
ponds In smaller sums. The records OF
THE SUN report thirty-three such cases
nnce January 1.
Following the disapDearance OF the
Sl7s.oO0 In bonds OF Whitney q Co.
benjamin Benkowitz. the messenger for
vnom the police were searching. was
found dead In . woods near New Haven.
ne had been murdered.
Harry J. Millhand. t1B q week mes
esnger who disappeared with the bonds
o. simmons q Siade, was arrested two
weeks later at Saratoga, where he was
Mtending the race meeting He pleaded
suiity on being arraigned here.