A. huge forgery plot was brought to light yesterday evening when wag discovered that counterfeit godown warrants for cotton bales, Emounting to over $200,000 had been sold on the local Cotton Exchange during the past few days. Detec. tives from Central Station arrested three men yesterday in connection with the crime, although the ring. Teader contrived to eseepe.
'The matter first came out when a Japanese, Mr. D. Matchino, went the station' and reported that someone wes selling forged godown warrants on. the Cotton Exchange. He himself! had bought $26,500 in warrants from this man, and had Giscovered that these were worthless. Acting upon the information furnish fed by this Japanese complainant a police party went to the offices of the forger on Ningpo Road, and seized 33 forged documents, although the Chinese himself had already dis-
He is said to have conducted his sales through a legitimate broker, and the full extent of his nefarious activities is not yot known. Later in the day, when information of the fraud became known to brokers on the Cotton Exchange, Central Station was besieged by 40 or $0 of these men, and the total grew hourly, until the extent of his operations began to be revealed. It fs believed that the eventual total will be well over $200,000.
The arrased men were picked up by detectives in different parts of the city. Two were runners for the forge er, and the other a clerk working in'bls office. The ring-leader appar ently established himself as a person of some importance with the brokers, living in a suite in the Pacific Hotel. Although he was only conducting the fraud for a few days, the huge sum he collected was apparently due the confidence he inspired in buyers, and the comparatively low prices ai which he offered the warrants.
Text read from the printed page and cleaned; old type leaves the occasional error.