Accounts in banks in Chicago and other cities were opened and then
exchanges of checks were made among them. Only the over-boldness of
their operations caused their downfall.
An instance of their methods would be the following: The Federal
Trust Company, one of their "paper" concerns, would deposit a check
in a Chicago bank made by the Keystone Structure Cleaning Company of
Philadelphia, another of their alleged firms. The check would be sent
east for collection, and in a few days it would be returned marked "No
funds."