The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-09-17
TROY'S STORY OF FRAUD.
HE TELLS now ms BRO ERA9B
FIRM ROBBED MRS. WHEATON,.
Tobin. Troy = &c. PretsRded That Hsr sS.ito
Had Been Lsst in Speculation In Sugar and
DIvtded the Money between Theu ass
Their Rout-SlaEistrate Cranes Indignation

N~fAN - A~N
liam Archer, who were arrested on Wednesday
at the office OF the alleged brokerage Arm OF
Tobin, Troy & CO.. at IL Broadway, on = charge
OF swindling Mrs T. y. Wheaton Of ga Fifth
avenue out Of 81. 800 in cash and $50 worth OF
Philadelphia and Reading stock, were arraigned
yesterday before Magistrate Crane In the Cen
tire Street Police Court. Archer was discharged,
as it was shown that he had nothing 20 with
the swiudlo. Tobin and Davis were held In
81 900 bail each for trial. Tobin furnished the
bond. Davis was unable to do SO. and was
locked up.
The principal witness against the two men
held was Willis B. Troy. one Of the arm OF
Tobln, Troy s Co. He turned States evidence
upon immunity from punishment being prom
ised him by the District Attorney. The story he
told on the witness stand disclosed so bare
faced a swtndle that Magistrate Crane grew eH'
cited and denounced the transaction In the
strongest terms.
The hrss witness examined was Mrs. Wheaton.
She told how Davis, after getting himself intro
duced to her. told her that II she would give him
money to invest in stock speculation he would
make for her a fortune. She said he told her
that through friends in Wall street he was
kept informed when big operator, were to trade.
what stocks they were to trade In. and whether
they were to buy or sell. In that way. Mira.
wheaton said. Davis told her he could always
know whether 70 buy or sell. and that she could
never lose.
She produced letters and kilograms that Davis
had sent TO her. and then she told how Davis
had induced her TO accompany him. on July Il.
to the Office OF Tobin. Troy s Co. She said that
she deposited there $500 In cash and sixty
shares OF Philadelphia and Reading stock. with
the understanding that Davis was to have the
right to use the money and stock as margins for
.,n-,r,,,,- - ia ,anif-iNp THAT he would nOrity
ner. in each and every case, before he put up
one cent OF her money or stock, and that he
should speculate only when he knew that he
had the perfectly sure tips OF which he had told
her. She said that she never heard q word from
either Davis or Tobin. Troy & Co. until Sept l.
when she received n letter by special messenger
ts.tnE ner tnat nsr mSne 3 yto Snt in .nrsf'
- had supposed, said she, that my money
and stocks were still there, and had not been
used At all. as | had not heard one word from
Mr.. Davis, in accordance with our Agreement.
Invent TO the Office OF Tubin. Troy s Co. and de-
statement showing how my money had been
sed up, and that I had no balance with the
trim"
Troy said that he and Tobin started a partner
ship about eight months ago; y. ID. Na!!e, a
member OF the Consolidated Exchange. was TO
have been a member Of the nrn, ouI was pre-
soItiated Exchange. He admitted that Vale.
however. had an 9tlee with them; and that his
name was painted on the door; He swore that
Archer. in the early part OF July. brought Davis
TO the Office and Introduced him to rooin and
himself. SAYING that Davis had a scheme that
would make a great ceaI OF money II me proper
erranSsnsass ent.S Gs ms re-, ~ ne n ,tb
AND what were they = ASKED Assistant Dis
trict Attorney Earring.
be brought into the ONCE and that Tooin. Troy
s Co. were to have the other half. answered
you mean half of the profits, don't you r.
asked Magistrate Crane.
NC. sir, l mean half Of the money" replied
DO yor mean TO say shs, II Davis brought, a
customer 70 Won who had $1,000. that De was 20
get 5000 and that you and loStn were 70 get
the other 5000 T. asked the Magistrate, in
That's exactly what I mean" said Troy.
and, what Is more, :hat is exactly what WAS
How did you work It r. asked the Magistrate.
II should have thought that the victims would
have discovered your game"
and they had no way OF detecting u.s. We
never made a STOCK transaction in such cases as
Ms. wheaton,. We would wait until after 3
clock, when the exchanges were closed. and
then make out slips that We would date as II
they had been made before theerchanges closed
and selling. and then look a. Inc opening quo
tatioas the following day. We would then
to lose and destroy the other one. In this way
Il did not take long 20 wipe out any amount OF
margins"
my life" cried MAGISTRATE Crane. lGterrupt!nx
the Witness This e the most 5aEetacet
I cannot keep my seat. Il makes ny blood boil:
I believe that TroY's confession ts true; and !
cSatemptfble piece Of ,h!e7 ~ that I ever heard
OF. That men VINO call themselves gentlemen
and are well dressed md seemingly cultured
could so conspire TO rob a woman OF her mOrey
without giving her a chance at a.! i almost
beyond belief. I will bold these men for trial.
Troy then admiftsd that eight year. ago he
had started in business with Bro&er 2. d,
T Thar e.sf 81 IN" h9,d IN ne FL fs' ,S ytdrF ,h ht' r FaS a
bGTsh was pushing the case against Iooln on
accom-. Of some y t sSa $50 ne Sa tor a So nr ~
ouers. II Thornburyh had not induced him 70
No. sir. said be. II saw Tbornbursh on
Friday Night. On SUNDAY night ! began to
realize that I was in a mighty bad boat. and,
say OF What I Nigh, be called. I owed i. 10 my
~lf: and t.o babies 70 get 3Et % It; so / G'I,sd
Earring promised me immunity II I told all
kHeT and theS l 'P2ke freely ,0o,sv dfv,ds, r
asked Lawyer Sceinhardt-
II got $500, Davis took 800, Tobin got 5000
and We spent 300 on .ne Office" was the an
lyon seem to have got the most OF ii" re.
marked =te!nhardt.
hatsyer got, SAG roy; Ha nay c1tn'
Wheaton viii! be -eoait every dollar OF the
m91ey Of which We FobGet her, .,u ,,u,,
nesses 'or the defence; but when Nast,rr "a
Crane EXPRESSED himself as above quoted tbs
lawyer put Davis Oh the stand. DAVIS hrsl
swore that Troy's whole statement, a. Far as q
ref-rr-I 20 him. was false, and Q declared tha
,he only money he vas 20 have had was ore-haI
Of The prohta from TObin. Troy & Go. and IS pei
cent. OF the profits from Mrs. Wheaton.
Mr.. Earring asked him Il hi had ever signec
any slips after 3 o'clock, or after the EEChlngt
had closed. He at nrst .aid that he had not. bH'
when Mr.. Earring mentioned an otics boz manner
Eddie. Davis said that he might have done 20
but could not remember. He anr
suffered, and hnaily Mr.. Earring took pity OF
him and excused him.
The story told by Mrs.. Wheaton. corroboratec
by Troy and partially corrobnrated by Davis
own testimony. 10 simply another form OF Thu
discretionary pool. many Of the promoters
which have already been arrested. II % also jus
such a game as might be expected 70 emanat'
from a bucket shop TO attract the dollars OF tn
unwary.