Dublin Core
Title
Town of Maynard Scammed - 1896
The Farmers' Loan and Trust Company Letter
The Farmers' Loan and Trust Company Letter
Description
The letter from W. D. Searls, Vice President of the Bank, to W. H. Gutteridge, Maynard's Treasurer, indicates the Town was deceived and defrauded relative to Bond #112 of the Durham Water Works Company. It would seem that other fraudulent bonds with forged signatures were in circulation. Note: The money lost was not discussed in the correspondence, however the 1897 Annual Report of the Town of Maynard shows a "Howland suit" expense in excess of $3000. The firm of Ellis & Howland conducted the issuing of the bonds.
Thumbnail attachment is a newspaper clip from The Boston Globe, June 11, 1896 that addresses the bond situation.
Thumbnail attachment is a newspaper clip from The Boston Globe, June 11, 1896 that addresses the bond situation.
Date
1896-06-12
Identifier
2025.143
Document Item Type Metadata
Text
W. D. Searls Vice Pres.t
R. G. Roston, Pres.t
E. L. Marston, Sec.y
Wm.H Leupp 2nd Vice Pres.t
Samuel Sloan Jr. Ass.t Sec.y
The Farmers Loan and Trust Company.
16,18,20 & 22 William St.
Please Address
P.O. Box, 1510.
New York
June 12th, 1896.
W. H. Gutteridge, Esq., Treasurer,
Town of Maynard,
Mass.
Dear Sir:-
Your letter of 10th inst. received, enclosing apparently bond No. 112 of the Durham Water Works Company.
We regret to inform you that the signature on this bond, purporting to be the signature of the Vice-President of this Company, is a forgery.
We also regret to state that there are a large number of bonds outstanding which are counterfeits.
The total issue of bonds originally made on February 5th, 1887, was $125,000., being Nos. 1/125, and all were certified by the Farmers Loan & Trust Company, Trustee, by its Vice-President, and delivered upon the orders of the Company.
On the 23d of May, 1894, Mr. E. G. McInnes, of 209 Washington Street, Boston, called upon us and exhibited a number of bonds, nine-tenths of which were thrown out by us as being forged bonds, not bearing the proper signature of the Trustee.
The firm of Howland & Ellis, of Boston, of which Mr. Ellis of said firm was Treasurer, handled the issue of these bonds.
Along in 1894 four of the, Nos. 90/93, were presented to us and pronounced forgeries. The said bonds carried with them Just 1st,
-2- W.H.G.
1892, coupon, and we exhibited to the party the evidence on our books that coupons from bonds of the same number had been paid, and statement together with cancelled coupons sent to the Company, and that Messrs. Howland & Ellis were the parties who provided for the payment of these four coupons.
Since 1892 we have not disbursed any moneys for interest on the said bonds, not knowing whether the Company had done so in Boston or elsewhere.
It might be well for you to correspond with E. G. McInnnes, of 209 Washington Street, who will give you more definitely the total number of bonds that they held for their client, which were pronounced forgeries, and probably may lead you into the insight of this forged issue
Yours very truly,
The Farmers' Loan & Trust Co.,
by
(signature of W.D. Searls)
V.-P.
R. G. Roston, Pres.t
E. L. Marston, Sec.y
Wm.H Leupp 2nd Vice Pres.t
Samuel Sloan Jr. Ass.t Sec.y
The Farmers Loan and Trust Company.
16,18,20 & 22 William St.
Please Address
P.O. Box, 1510.
New York
June 12th, 1896.
W. H. Gutteridge, Esq., Treasurer,
Town of Maynard,
Mass.
Dear Sir:-
Your letter of 10th inst. received, enclosing apparently bond No. 112 of the Durham Water Works Company.
We regret to inform you that the signature on this bond, purporting to be the signature of the Vice-President of this Company, is a forgery.
We also regret to state that there are a large number of bonds outstanding which are counterfeits.
The total issue of bonds originally made on February 5th, 1887, was $125,000., being Nos. 1/125, and all were certified by the Farmers Loan & Trust Company, Trustee, by its Vice-President, and delivered upon the orders of the Company.
On the 23d of May, 1894, Mr. E. G. McInnes, of 209 Washington Street, Boston, called upon us and exhibited a number of bonds, nine-tenths of which were thrown out by us as being forged bonds, not bearing the proper signature of the Trustee.
The firm of Howland & Ellis, of Boston, of which Mr. Ellis of said firm was Treasurer, handled the issue of these bonds.
Along in 1894 four of the, Nos. 90/93, were presented to us and pronounced forgeries. The said bonds carried with them Just 1st,
-2- W.H.G.
1892, coupon, and we exhibited to the party the evidence on our books that coupons from bonds of the same number had been paid, and statement together with cancelled coupons sent to the Company, and that Messrs. Howland & Ellis were the parties who provided for the payment of these four coupons.
Since 1892 we have not disbursed any moneys for interest on the said bonds, not knowing whether the Company had done so in Boston or elsewhere.
It might be well for you to correspond with E. G. McInnnes, of 209 Washington Street, who will give you more definitely the total number of bonds that they held for their client, which were pronounced forgeries, and probably may lead you into the insight of this forged issue
Yours very truly,
The Farmers' Loan & Trust Co.,
by
(signature of W.D. Searls)
V.-P.
Original Format
Paper, 5 x 8 in.; two pages
Storage
VF124
SU10-1
Town of Maynard Vintage Documents folder