Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1883-04-13
TOO MUCH MONEY.
A MILLION OF THEIR MOTHERS MONEY.
$4,000 Lost 10 Wall Street Speculation
$4,000 Lost At the Club Playing
Baeearat - Downward Path Of
Henry and Washington Tobias.

NEW YORK, April l2.-something OF .
sensation was created In Wall street yester-
day BY the statement that there had been
q large misuse OF trust funds By an opera
tor in stocks Finally the reports connect.
ed the names Of Henry II. Tobias and his
brother, Washington Tobias, With the mis-
appropriation. They are the sons OF Mrs.
H-rmione Tobias. widow Of the late Fred
Tobias, who resides at le East Forty yeighth
street. with whom they lived. An uncle
Of the young men, who are 50 and IS years
old, respectively. wss ersditsA vtsA sayiaR
that they had taken over 5000 belonging
TO the estate and left the city. They were
made the trustees OF the estate on the death
Of their father, seven or eight years ago:
The amounts left in thcir control Was said
To Ne over One Millisa Dsllars,
mostly in bonds, mortgage and real estate,
securities Their mother had placed her
entire affairs in their hands, and they we're
left free to manage them As they chose.
Inquiry was made at the house In Forty.
eighth street. but Ms. Tobias declined TO
say anything on the subject. The servant
who came to the door was asked how long
the men had been away. There arc four
6OH4 anu Ouc uuukutSE WIG
Without asking which ones were referred
to, the servant replied that she did not
know, as she had been in the service OF
Mrs. Tobias only two days. Albert Hen.
dricls, an uncle Of the young men, lives at
40I Fifth avenue. He was asked IL his
nephews had taken SIC, ,0oo or more belong.
ing 10 the estate and fed, and II he had
stated such to be the case. His reply VAS
that he had no statement to make. A
81 Il n H. Ia.
formed that the young men had
Loss the Amount Nsned IN Speeaia.
tioa
in Wall street, and he heard that they had
been indicted for gambling. There vas.
however, he said. plenty left and the den.
cheney wou dsimply come out Of the portion
coming 10 the young men. There would
be no los, except to themselves and the
matter would probably 20 no further. He
did not know where the young men were.
A broker with whom they dealt said they
sustained NO losses In their transactions
with him to speak OF. They we're not very
careful In their operations aud the broker
did no, seem surprised 70 hear that they
we're accused OF u,ing money Of the estate.
An active speculator 10 The street. Who
knew their operations, said they dealt la
', aCoO and 1000 shares day, and ~ near
Ar ia could find out they we're oftsner
wrong" han right on the market,
,r.ded In No n,r...rular stock, but appear.
ed TO take pretty neal the whole list
From the head OF another hoiss with
which they used 10 have an account,
A Dinsseni story Wss Obsstne1.
The gentleman said the young men closed
their account with him in November. They
did not keep up their margins. Their
losses did not exceed $20,0J0 or $1,000. aud
IL would not affect the estate at all, a. IL
would come ont OF their own shares. lie
said that Mrs. Tobias brought her husband
most OF bis money, and he estimated the
estate at &3O0.OOO. lie felt sure that the
young men were In the city. He said he
saw one OF them yesterday and ascertained
from note he sent 10 the house that the
other one had not gone away. The young
men were habitues at the Windsor and Del.
monico's. and sent orders from both places.
IL was said At Delmonico's, that they had
not been there in two or three weeks.
They were usually there In the evening.
They were said not 10 have been seen
About the windsor
for some time. They were together most
Of the time. At one time they were In the
brokerage business, and Henry, the Oldest.
was member OF the Stock Exchange. Tue
, business was not long continued, and the
seat was sold, IL was said. for 5000. Thsrs
w1 great deal OF talk At the Windsor
Aboti. :LLs :Hair, The figures were put %
high a. S25OOOO. One s'AiemspI vas That
the young men bad taken with them Z
large amount OF money belonging 10 their
mother. The belief was that they hsd gone
to Europe. Nearly evefy broker and spsc-
ulator seemed TO know them. The young
men are members OF one OF Tile most 70.
spected Hebrew families. The n1sttsr
would have been kept . family affair. but
for the dissstisfactiOn OF the other brothers
who permitted IL 20 ~ out Among the
other stories regarding the young men was
one about
Their GsabIisG PsseIivtsssa.
Washington was said 10 hsye lost ~. 900 Ia
Q single nights plsy At the Turf Club. The
game was baccarst, which va stopped
when the name u the CLUB Vas changed ~
the Madison Club. The pisying st the
club became 20 notorious thst Il became
imI erative thst Il be stopped. II vas made
known 10 Washington that bis rssignsti0n
the club. Mr.. q. Is HurIburt, ths msnsg.
er Of the club. ssid that the ToSiss' vers
not " en- bers Of the club. An effort had
been made 10 rid the club OF Questionable
persons and improve iu tone BY rigorous
reform measures. The first intlmation Of
the misuse OF the money was undarstood
70 come from . request made by the youug
men 10 their mother 10 convert some prop.
erty into cash. This she found by The
terms Of the will she could not do, and the
discovery ensued. Some money vas left
the young men BY their grandfather, but
the amount was not large.