The Washington times., 1922-06-04

tne Snase institution to the mo-
ment OF delivery into the hands
Of the consignee's agent.
But where one company In.
sured the bonds while they were
In tsse bank, another insured
them while they were en- route
to the postoffice. another assum-
cd responsibility in the man, an
other protected against accident,
another against fire. another
against theft by employees, an
other against burglary. or. as In
this instance, several surety com.
panies assumed percentages of
the risk overlapping each other.
1t was essential to a speedy ad-
tustment OF the claim that the
time and place Of the theft be
actually ascertained-and there
was no clue to these important
facts.
Albert H. Wiggin. president of
the Chase Bank. gave out this
formal statement:
This bank on Monday, April
IT. made a shipment of $500, 900
United States Fourth Liberty
Loan ~ per cent bonds. due
1888 to 1898. to an out-of-town
institution. The shipment was
made by registered mail and in.
sured. The bonds have not been
received by the consignee. The
shipment is covered by insur-
ance and the entire matter is
now in the hands Of the insur.
ance companies"
With the', the hank apnsrenf- .
ly washed It's hands Of the mat.
ter, adding to this statement onIy
the Information that 100000 of
the bonds were N $4,000 de.
nomination and $50, 900 in 81 900
dcCorira ton. This assortment
made an ideal stock for a thief,
Just fifty certificates, easily car
ried in a breast pocket, with
enough Of small denomination TO
provide ready cash and the bulk
Of them susceptible to secretion
without difficulty. The inter
est coupons falling due and
negotiable anywhere to pay run
ming expenses II desired and no
part Of the haul subject to serious
loss by market fluctuation. All
or any part Of the loot would
be as good ten years as on the
day OF the theft and probably
better in every way. including
the element Of safety.
POLICE AID REFUSED.
The bank and the surety COM
panies at first attempted to keep
the loss secret, but as days pass
ed without clearing the mystery.
the insurance interests involved
through their attorneys, Bing-
ham. Engler & Jones, adver-
tised the loss, in a stilted adver-
tisement which omitted the name
a the consignor and the con-
signee and offered no reward.
Those who read it wondered
what the object of the advertise
ment was-and they are still
wondering. for 1t merely stated
in substance that someone had
been robbed Of $4,000 in bonds
sometime, somewhere. somehow,
and that anyone who knew where
the bonds were might. without
hope OF reward. communicate
with the attorneys.
The only persons who COM
municated were representatives Of
the New York police department
and the newspapers. Both were in
formed that there was nothing
to be said about 1t by the at.
torneys. All this preceded Presi-
dent Virgins statement. In the
interval. every employe Of the
bank was watched, the handwrit-
ing compared with the address on
the dummy package sent to the
Lynn bank, and squads Of private
detectives trailed every person in
the remotest way connected with
the handling Of the money.
And all this secret activity
led to naught when Watch.
man Chase's handwriting revealed
nothing and he was not sus.
pected.
Then President wiggin issued
his statement which had the ef.
feet OF stirring the surety com.
panies to new efforts. for II Is
not a pleasant duty for an insur.
ance company to make good
$500,o00 especially when that
company doesn't know whether
or not 1t is responsible under its
policy for the loss. The main line
Of investigation was put into the
hands OF William ]. Griffin. vice
president of the National Surety
Company. and he said:
THE disappearance Of these