New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-13
CHARGED WITH SWINDLING.
ARREST OF WILLIAM II. NJ. SISTARE.
THE HEAD OF THE SUSPENDED BANKING FIRM
OF GEORGE X. sIsTARE's SONS AR
RAIGNED IN POLICE COURT.

OF GEORGE X. SISTARES suns nv
RAIGNED IN POLICE COURT.
William H. NJ Slsta1e the head Of the suspended
banking firm Of George X S!sare's sons was arresueu
az II a. m yesterday on the complaints OF August a'u
Richard Heckscher of Philadelphia. who charged the
firm Of George X Sistares sons With swndling them
ont of $4,000. The warrant for the brokers' arrest
WAS issued on December = by Justice White. Alter
his arrest Yesterday he was taken to the TombS Police
Court where he parOled until 80 p III. TO-DAY
in the custody of his attorney. Henry 5. Bennett
The present charge against Mr. sistae is the out
growth Of a suit brought against the suspended hrn
last fall by August HeckscheT for Incorporating
bonds and securities pledged with them. W. H. NJ
sstae was arrested at that time, and released under
SO 900 bail on December further complaints were
made by August and Richard IIeckscher against
W. H. NJ sstare and Harold Clemens, composing inc
firm Of George X. Sstarc's sons, charging them WIN
misrepresentation and cmbczzlement of 200 shares Oh
the capital stock of the Lehigh Zinc and Iron COM
pany OF Pcnnsy vana. and Of thirty three secondmort
gagc bonds Of III 900 each OF the Wabash Railroad
Company. on these charges two warrants were issued
for Mr. Sisarcs arrest and were placed IN TIE bahos
of Detective Crowley, Of Inspector Byrness stah
Since December the detective has called ire
oucntly at No. 30 East SiXtiethst, Mr. sistareS
home, but was always met BY Mrs sNtarc WIN
the reply that her husband was out OF inc
city, lie also went several times 10 the club to
I
carriage with message for him. hoping thus to ma
where Mr. SiStarc was. lie not successful, now
ever. until yesterday morning. when he saw the
broker with rs wife and another woman. near City
Hall Park. sistare helped his companions on TO
Fourtlave. strecIcar and then turned 10 walk down
Na,,au-st When approached by the detective he de-
MED hi, identity. and refused to submit to arrest The
officer threatened force. and Histarc agreed to
20 TO Police Headquarters, where he admitted his
Identity.
In his affidavit August Icclsher makes the following
allegations on Nay 20. 1850, he requested the firm
Of George X SstareS sons to procure for him loan
Of 100000 on 400 shares OF Lehigh zinc and Iron
Company stock. soon aftcrward the firm said that
they had secured the loan from the American Loan
| and Trust Company, Of No. 113 Broadway. plcdgng
the Zinc and Iron Compauy's stock a collateral Sc
curty Th, statement. the complaint alleges. was
nl,e only 200 shares Of the stock being used In ,ccr
ing the loan the other 300 shares being appropriated
by the firm and pledged with the National city Bank
for a loan Of $4,000 ard upward. the firm repre-
cnting Themselves the of the property The
par value Of the stock said to be 800 share. and
the real value about $50 share. making the value
OF the stool, wrongfully pledged about 10000.
| Richard Ieckshcr, Of No. 900 south Eighteenth
ST., Philadelphia ALLEGES that prior TO November %
| I--0, he had in his possession certain trust certi
/ belonging to himself. Mis-. Juctta lie Hrun and
| others. Thee he desired 10 exchange for second
J
and employed George h. >istar''s sons @gcut- IN
pluut say the firm received forty second mortgage
wabash bond, IN exchange for the trust certificates.
and eight mlIc December II, OF which they wrong
fully convert d thirty three to their own use. These
| bond, wcr, hypothccaicd, with other securities by
George H. Si,tare'S sons. In The following dan(ac'
ion,: 4 prum ,,ory note for $iOO.ODO. given ru De
| ccmhcr H. l-3g. 70 +. &. Potter a Co; proni--
-orv note for 10000 given January u, l-"O. 10
| the Union Trust Company. q note for 100000.
given ON January 20 l-90. the National Bank of
| 3 1850 from the Mechanics savings Bank. ~ Hart
ford. aud note fir 10000, given on March 20 IL
/ thc Atlantic Trust Company.
! ON December g. 1--9. Richard Hcck>her alleges,
after the firm had received the wabash bonds
/ i'm exchange for the car trust certificates. W. H.
/ ~ Si,arc sent him a letter, which said In part ~
! follows.
we beg 20 assure YOU there will be no unnecessary
! DELAY I'm gettin, the Wabash bonds. A. ! explained
I, Won the cngiavcr made error In cug7' INK the
/ hnud, which was not discovered uutl many hal been
actually issued and delivered. Tis made IL obligatory
tpon the company to call IN those that had been de
lvcrcd and 10 stop the delivery u any NOR" that were
| iu hand Now bond, engraved as rapidly rs pos
.lblc all ~ which had to be signed Hence the DELAY
We are on record having deposited r17Ooo car F-1
! certificates for which Ia get the same amount
~ wabash bonds $4,000 Of the above being for Nr-
| Ie Br1in whose power 81 attorney We AZ expecting
| from Won. IOu need not give YourSch any
trouble about the matter, rs We Will attend 10 All
details -
! mo attorneys for the compliments arr Jan"way
! and Richards # the law firm Of Alexander Il rrreh