Bugbee's Forgeries
contributed by Darlene Anderson

The Culprit Heard From in Spencer, Owen County, and Vincennes, Indiana -- Investigation of His Affairs -- 111 Forged Notes Outstanding at the Time of His Flight

Special Dispatch to the Cincinnati Gazette. Indianapolis, April 6

Bugbee passed through Spencer, Owen County, last night, and has since been heard of from Vincennes. Surmise has it that he is either on his way to Texas, or to Sedalia, Missouri, where he is said to own a large body of land upon which he might raise a good sum of money upon which to maintain himself. It is pretty certain he had but little when he left here. His brother, of the firm of Holt & Bugbee, is not disposed to prosecute him, but it is understood Holt is determined to bring to justice the man who has wrought the destruction of his hard earned fortune.

W. S. Blanchard, Vice President of the Metropolitan Bank of Boston, which is holding $70,000 of the forged paper, is in the city assisting J. B. Bugbee in making an examination of J. W. Bugbee's books. They can make little out of them from the fact that they are filled with entries of fictitious transactions made to cover his forgeries. They find his individual affairs to be in a very bad shape, every bit of property owned by him being mortgaged to its full value.

Public opinion has changed considerably within the last twenty-four hours, and the impression prevails very generally that instead of being simply weak Bugbee was a very great rascal. His ingratitude toward those who reposed confidence in him weighs heavily against him. At the time of his flight 111 forged notes, entered by him, were outstanding.

To the Associated Press

Indianapolis, April 6 -- The case of Bugbee, the forger, is fully as bad as it first represented. His brother and an officer of a Boston bank are examining the books, but decline to make a statement until they have finished. It does not appear that any effort is being made for his arrest, although he has been heard from west of here. Bugbee is the administrator of a former partner's estate, with bond given for $66,000. His bondsmen are apprehensive that they may be in trouble.

Boston, April 6 -- Holt & Bugbee during the week returned to Indianapolis drafts drawn by Bugbee, forger, amounting to over $12,000. Should the firm be held for all the forged notes and drafts their creditors would be obliged to give them considerable time, or they will be compelled to go into bankruptcy. There is considerable doubt as to the responsibility of the firm for the drafts cashed by the Indianapolis banks and not accepted by the firm. The amount is not stated.

New York, April 6 -- A Boston dispatch alluding to the failure of Holt & Bugbee, through, the forgeries of Bugbee's brother, says 110 forged notes, aggregating $134,739, and drawn within three months, had been made. They are all made payable to Holt & Bugbee, at Indianapolis, and are for three and four months.