A Bourne man was arraigned in Wrentham District Court Friday on charges that he stole as much as $54,000 worth of pens from a Franklin business.Gregory Loonan, 55, of 22 Carnoustie Road, pleaded not guilty to charges of felony breaking and entering during the daytime and larceny valued more than $250., the Milford Daily News reported.He was released on $1,000 bail.Franklin Police Detective Eric Zimmerman wrote in an affidavit that the security director of Kuehne + Nagel, the local branch of an international shipping firm, contacted police in August regarding a large number of missing Cross pens.The company, he said, handles some packaging and distribution work for Cross.The director initially told police that approximately 900 pens -- at around $30 to $40 apiece -- were missing.Zimmerman said the director remained in contact with police throughout the summer, requesting police interview some temporary employees. According to Zimmerman, the company estimated a total loss of $20,000 worth of pens in September.In mid-September, Zimmerman said the director approached police with the possibility that Loonan, the local general manager, might be responsible for the missing pens.The director said he had reviewed surveillance video in which Loonan had, on multiple occasions, taken a cardboard box out of camera view, filled it with something and placed the box in his vehicle.The director told police that Loonan would have no valid reason to remove pens from the property.The director said Loonan had removed 30 boxes from the building in 26 separate occasions over four months. He told police that, if Loonan had taken as many pens as those boxes could hold -- approximately 2,160 pens -- their value could total about $54,000. The company's inventory showed 1,942 pens missing over those months.Zimmerman said he applied for an anticipatory search warrant for Loonan's vehicle and had concealed himself in a wooded area near the company's parking lot at its closing time on several dates. On Oct. 1, he said, he observed Loonan removing a cardboard box from the building and putting it in his trunk.According to Zimmerman, Franklin police subsequently stopped Loonan's vehicle and found the box, which was filled with pens.Zimmerman said Loonan admitted he had taken those pens but denied having done so previously. Loonan allegedly said he thought he could use money from the sale of the pens for an upcoming bill but said he had not devised a plan to sell them. Zimmerman said Loonan told police that the earlier missing pens were a result of "inventory shrinkage" and were within acceptable losses. He reportedly accused police of trying to pin the missing product on him.Police said the box recovered from Loonan's car contained 124 pens and a journal with a pen. He said that Loonan, in the course of retrieving the box from the building, had broken into an area not owned by Kuehne + Nagel.