Rensselaer Semi-Weekly Republican, Volume 39, Number 77, Rensselaer, Jasper County, 31 May 1907 — Bond Thefts Now $800,000. [ARTICLE]

Bond Thefts Now $800,000.

Later details of the bond robbery of the Trust Company of America came to light through the examination of Loan Clerk Douglass’ confederate, Broker Dennett. It Was found that the actual value of the bonds taken was not less than $800,000, and that Douglass had laid aside $500,000 more for convenient abstraction on the morning that suspicion caused his sudden departure. Douglass and his associates had raised about $200,000 in cash and loans on the stolen collateral. It was admitted by the trust company officials that they had paid out $165,000 to recover most of the bonds which had been placed with various brokers, and that the actual loss would be $140,000, considering the $25,000 bond of the loan clerk. The effort to connect a prominent Boston man with the deal was not successful, although it was believed that a third party assisted in the negotiations.