About one week before the arrest the concerns were placed in the hands of the sheriff of New York County, and, following this, it is declared, disclosures were made which hastened the arrest of the men involved.
Banks and firms in Chicago, New York, Philadelphia and London, it is declared, are known to have suffered through the alleged operations of the men, who were aided by companions in the different cities.
Most of the concerns, of which there are at least twelve, all declared to be fraudulent, are in Chicago.
List of Bogus Firms.
The following is a list of the concerns, the names of which have been learned by the police:
- National Fire Proofing Company, New York and Chicago.
- Federal Trust Company, New York and Chicago.
- Keystone Structure Cleaning Company, Philadelphia.
- McGuire, Johnston & Co., New York and Chicago.
- Hessley, Johnston & Co.
- Hessley & Johnston, Chicago.
- A. A. Hessley, Chicago.
- George F. Johnston, Chicago.
- C. F. McGuire, Chicago.
- F. L. Cunningham, Chicago.
- Chester E. Broughn, Chicago.
- Lincoln Gas Light & Coke Company, Lincoln, Neb.
Another concern dealing with alleged spurious bonds of Custer County, Idaho, the police declare, was under the direction of these men.
It was the old-time favorite method of kiting checks and drafts among the banks and private individuals of the city and country that was used, and there is no doubt that it proved successful in this instance. Although it is believed the men did not obtain great riches in their operations in Chicago, it would have been only a question of time when they would have become wealthy, so apparently easy was it for them to get funds.