The Forged Telegram.

Manawatu Herald, 14 July 1900, Page 2

The Forged Telegram.

The insurance community of Melbourne was painfully surprised when, on the 16th June, it was announced that a warrant had been issued for the arrest of James F. Mountain, the Australasian manager of the Imperial Insurance Co., for alleged complicity in the forgery of the name of ■smith, Elder & Co., of Adelaide, to n, telegram which was sent from . that city on the sth ult. to the legal. manager at Melbourne of the Queensland Mining, Prospecting, and Investment Co. The telegram was to the effect that a certain London syndicate had resumed negotiations for the purchase of the Queensland Mining Investment Lease, and guaranteed completion. It was evidently intended to influence the market and enhance the value of the shares. They rose from 8s 6d lo 6s 9d, but, almost immediately, the . telegram was found to be a forgery, and the Stock Exchange cancelled all dealings in the scrip. A prominent broker, who had sold largely, was called upon for an explanation, and he stated that his client, Mountain, had instructed him to sell 6000 shares. The chairman thereupon wrote to Mountain, requesting him to be present at the enquiry, and received a reply, in which he promised to attend. This he failed to do, which led to the detectives making enquiries. It was found that the directors of the Imperial Com- " pany had received a letter from Mountain in Sydney tendering his resignation, and stating that he was aware suspicion would fall upon him for complicity in the forgery, although he was entirely innocent in the matter. A warrant was thereupon taken out for Mountain's arrest. James F. Mountain is an Englishman by birth, and came to Australia fifteen years ago, to act as manager at Sydney for the Fire Association*- a London company. His connection with it was terminated some eleven months afterwards, and he took up fire adjusting. He did not continue long at this, for at that time Mr Treacy, the Sydney manager of the Imperial Insurance Co., was also attending to the affairs of the Lion Insurance Co. in that city, and he utilised Mountain's services to assist . him. Shortly afterwards the latter left for England, and returned to Australia as sub-manager of the Imperial, under Mr A. J. Wright, at, Melbourne. About five years ago Mountain superseded Mr A. J. Wright, and was appointed general #

iiiwniiMi in fi ii fi ft ii ~li imin Will manager for Australia. Among the early events after his accession to office was the dismissal of Mr Treacy at Sydney, as well as the managers of several other branches. Mountain was in receipt of a salary of £1000 a year, in addition to commission allowances, the latter yielding £800 last year. He is a married man, his wife and one child being now on a *■ visit to England. — The Review.