The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1923-05-29
SUSPENDED
IN BOND
Loss
Director HUI Lays off F. II.
GiesIer, and Starts to Re-
form Bureau System.


form Bureaus System.
The indefinite suspension of
Frederick H. Giesler, superintend-
ent of the surfacing division of
the Bureau of Engraving and
Printing, is the first decisive move
in a campaign thoroughly to reno
vate the counting, checking and
other systems employed in the
great plant, Director Louis A.
Hill stated today.
Dissatisfied With System.
I'VE are going to see that such
occurrences become an impossible
ity,' Hill determinedly declared II
reference to the disappearance of
$101 900 worth of bonds from the
plant about April 25. That he Is
not at all satisfied with certain
points in the system now employed
| was easy to gather from an inter-
| view given a Washington Times re-
porter in the directors guarded sane
tum.
1--WE are going to apply corrective
methods In any detail OF the system
which Is found to be inadequate or
detective" said Hill. THE present
scheme of operation as regards
counts, audits, bookkeeping, ETC.,
was inaugurated In 1872 when the
bureau became an entity among
Government offices.
II have nothing to say regarding
actions of my predecessors in re-
gard to introduction of better meth.
DDS, but know that had held
| this post during the rush period OF
| the war or any other time, / should
| have started the program I now
have"
Result Of Investigation.
Hill revealed that Giesler's sus.
pension became effective Friday
night, shortly after Secret Service
operatives began an exhaustive in
vestigation Of his division with ref.
erence to the mysterious loss of
fifty sheets Of Federal Farm Loan
| bonds and one coupon bond of the
Joint Stock Land Bank.
He also went into a detailed de-
| scription of the procedure in the
search.
The silk-thread paper upon which
currency and bond faces are printed,
private possession of which is in
itself enough to bring the holder
| into trouble with the Government,
is regarded Of "denominational
value" from the moment 1t goes
upon the stock shelves.
In the case of the missing bonds
these values were 100000 for the
farm loan bonds, which are printed
two subjects" to a sheet, and
$1,000 for the coupon bond on the
land bank.
On April IS the disappearance of
the bonds was officially brought to
| the directors attention, and the
probe was inaugurated.
| Some bonds go through fourteen
| distinct operations, those in question
being subjected to twelve, it Is un-
derstood.
The task then confronting the
secret service men was to check
laboriously through twelve divisions
to determine just where the sheets
we're last handled.
In GiesLer's Branch.
Each division save the last, the
surfacing division, produced in.
dubitable proof that It's part Of the
job had been completed and the
|
search turned to Giesler's branch.
which is the last division handling
bonds. Here they are numbered
and seals are attached. They then
go to the Treasury for imprinting
| Of signatures Of officials, thus be.
coming negotiable.
Just what investigators ascer-
| tanned in the surfacing division Hill
did not say, but Giesler's suspen-
sion followed. It will continue at
least until completion and termina.
| ton Of the investigation now under
way" Hill declared.
| Hill wanted 1t made clear that
the suspension does not necessarily
imply culpability. He likened 1t %
action taken by the War or Navy
Departments in the cases, say, OF
the loss Of supplies or putting Il
ship upon a reef.
Follows Military.
An investigation always follows
and the officer in charge is relieved
of his command until the facts are
ascertained and action decreed by
department heads.
Giesler may be reinstated; on the
other hand, his resignation may be
requested, though this alternative is
simply to be deduced from the direc-
tors words. and was not suggested
by him.
Hill was unable to state just
when the secret service would conf
plete It's probe, but said it must OF
necessity to be in the near future as
regards the specific case, because
they are now in the last division
handling bonds.