Show LOOSE FINANCIAL METHODS the recent theft ot a third of a million dollars in securities from ono of he largest banks saya the new york financier and the ease with which the theft was accomplished have led to in of th methods 0 transacting business on wall street which show some startling facts it appears as tho result of this investigation that during almost every hour of any active business day millions of dollars worth of securities are being conveyed between the brokers offices and the banks in very many cases by mere lads who are charged with the delivery of their burdens without being provided with adequate police or other protection even when these messengers arrive at their destination and are waiting to deliver the securities they are exposed to the risk of having them abstracted str acted through the familiar methods pursued by bank thieves it is a tact that at or about the customary hour for the delivery of securities between broker and banking offices property representing tens ot millions of dollars is being conveyed about the street by messengers who are exposed to assault though at this period of the day the police stationed in the section are expected to be more watchful than at other times it is estimated the deliveries ot collateral for call loans to the wall amount to an average ot on an active business day settlements of contracts with which must be effected by half past two in the afternoon will probably average as much more this makes a total of millions of securities carried to aad fro through tha crowded streets in the bunds of boys or junior clerks who often neglect the precaution of concealing their burden exposing it in such a manner as to enable it to be readily stolen it is true that thefts of the character above notes are rare but their jn frequency is not due to the lack of opportunity for their perpetration tor little precaution Is taken to prevent them the disclosure of the method employed by the culprit who obtained the package from the wall estreet bank will doubtless suggest to bome of the thieving fraternity how success may attend their efforts if they guard against the blunders committed in the above mentioned case doubtless because of the lesson taught by this event the bank clerks who are charged with the duty of handling se curi ties will be more careful and pos elbay the police will be moro watchful but though the opportunities for tha commission ot such crimes at the tellers window may be fewer those which are offered in the unprotected thoroughfare ough fare will be numerous to induce bold thieves to embrace them and some day there may be pre tented startling evidence in a highwayman attack of the lamentable lamed table absence of protection tor property in the busiest street of tho metropolis the responsibility for these conditions seems to rest upon the bankers and brokers they safeguard their securities curi ties while such properties are in their offices by keeping them in places inaccessible to strangers when the days business is ended the securities are locked in chests and carried under guard to the safe deposit vaults and returned to the offices with the same care on the following business day when however these people arc called upon to send collateral to a bank as security tor a loan they entrust it to a messenger and anen the are withdrawn through payment of the obligation a messenger Is employed in this service without providing him ahu adequate protection chiefly bo cause clerks cannot be spared to do duly cither as messenger or guard |