New-York tribune., 1888-03-23
NEw-YoRK, FRIDAY, MARCH %. 1885,
ARRESTING A WALL-ST. MAN.
4 BROKER CHARGED WITH FRAUD.
Mr. king sArs THAT MR. rRowBRIDaE KEPT BACK
$4,000. the PROCEEDS OF
SALE OF STACKS.

Nh ALlN0 BAYS THAT Mr. TR0WBRIDdE KEPT BACK
$4,000. the PROCEEDS or
SALE OF STOCKS
Francis E Trowbridge stock broker. who has
an office In the Drexel Building and lives at the
Windsor Hotel, was arrested yesterday afternoon
by Detectives McClosl1ey and Mulholland on tho
complaint Of Abram King, a lawyer, of No. 14o
East Nineteenth-st. Mr.. King made an affidavit
before Justice Power, setting forth that on March
l o he ordered Mr.. Trowbridge, who had acted as
his broker In several stock transactions, to sell 500
shares Of the Richmond and West Point Terminal,
valued at $l3,050, and 200 shares Of the New
Jersey Central, valued at $15,750. Mr.. Trow
bridge sold the stocks and MIR. King charges that
he kept the proceeds and refused to give any ac-
counting.
Mr. King heard that Mr.. Trowbridge had
trouble with several of his clients recently, and
fearing that he about to leave the city had him
arrested. Mr.. Trowbridge was locked up at Po-
lice Headquarters and reporters were not allowed
to see him or get his side of the story.
THE BROKER MAKES A STATEMENT.
Later in the evening Mr.. Trowbridge was admit
ted to bail in $1,000 by Justice OReilly. Joseph
Haight, Of No. 21O East Fifteenthst. qualified as
bOndsman.
The broker was seen afterward. and in unmeas-
ured terms denounced the arrest as an outrage lie
said King ordered his stocks sold through me
and did so under the rules and delivered the last
OF the stocks to-day to the buyers at price
higher than they could be sold for now. The
stocks were Richmond Terminal and Jersey Cen
tral, and the account Was being made out ready
to settle with King to-day. But Tor some cause
unknown to me Nr. King thought best to swear
to an affidavit and obtain warrant.
King has traded through me for nearly
year and this outrageous proceeding is beyond any
conception, except that King is not responsible
for his acts So far, have not had time to verify
Kings account, for early this afternoon King
telephoned to me to call at his office and then
and there he had officer with the warrant ready.
have not seen any ailidayits upon winch
the warrant was issued, and hence cannot say
anything about that but my counsel advises me
King must have sworn that L was about to leave
the State that l was trying to keep him out OF
his money There is not, and never was, scintiila
of truth in any such statements Ihls is one Oh
the most baseless proceedings ever undertaken-
TO scare me into payment of money at once before
the accounts can be written up and closed
Mr.. Trowbridge further said that all the money
which Mr. King had given him was 500, when when
had been put up as margin. Mr. Trowbrldge
claims that Mr. King owes him in the neignoor-
hood Of $50, 900 money loaned. lie never had any
dealings with Mr. King personally all the trans
bridges branch office, No. 900 Broadway. MI
Trowbrdge also said that he was director IN
two banks and member OF church ana IL was Was
ridiculous TO say that he would run away. lie
will hold Mr. King responsible for the statement
that he had swindled other people.
MIR. rRowBRIpGr WE'LL KNOWN IN "THE STREET"
Mr. Trowbridge is well-Snown member OF the
Stock Exchange, having his Office in the Drexel
Building, at Wall and Broad sts He is called by
Wall Street men the rising young broker" lie
lives at the Windsor Hotel II is said that while
his business did not appear TO be large lie never
seemed to be in any way financially embarrassed
Abram King, the complainant: was seen py
TRIBUNE reporter late last night, but declined
to make any statement regarding the case and re-
fused to answer questions.