The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1897-10-05
EINANClER ARRESTED.
Charge Of Embezzlement Against a
Prominent Investor,
OWES THOUSANDS OF DOLLARS


If the Charges Alleged in the War
rant For His Arrest Prove True.
The Prisoner Declares That He Is
Now withoat a Dollar.
Cleveland. oct 5.-John j. Shlpperd,
who for several years has been promi-
nent as an investment broker and street
railway promoter, was arrested yester-
day on the charge Of embezzlement. He
was taken before justice of the peace
on state warrant and released on
$4,000 bail.
The warrant was issued at the in
stance of Frank DeHaas Robson, and
the charge grew out of the business
dealings of Shipperd and Robson, who
have been closely associated for several
years in street railway enterprises in
this city and elsewhere. The warrant
distinctly charges that Shipperd em-
bezzled S1SS, ,23615 Of the personal prop
erty of Robinson, in addition to 112
street railway bonds of the value Of
$95, 200.
At the same time petition was filed
In common pleas court asking for a re-
celver for the brokerage firm of Charles
II. Potter g. Co., with which Shipperd
was heavily interested and Of which he
was the manager.
In the petition It was charged that
Shipperd and the firm of Potter & Co.
had converted to their own use the
proceeds Of securities left in their hands
by Mr.. Robson. These securities in
cluded three sets of Fort Wayne, Ind,
street railway bonds, and the sum for
which Mr.. Robson asks judgment is
991, 761.15. Included in these bonds
were 112 $1,000 bonds of the value Of
$4,000 and upon which one of the
charges of embezzlement against Ship
perd is based. Mr.. Robson also repre-
sents in his petition that the firm Of
Charles II. Potter & Co. is insolvent.
and that 1t owes to about 20 banks in
the vicinity Of this city and to indi-
viduals sum aggregating about o.
100000, which 1t cannot pay. 1t is al
legged that the securities left with
! Shipperd by Mr.. Robson were hy-
pothecated by him at banks for the
purpose of raising money with which
to carry on the various enterprises in
which he was interested.
While awaiting the appearance of
his attorney, for whom he sent as soon
as arrested, Shipperd was asked how
inuCH He owed MI Robson. he re-
piled:
That I do not know. The amounts in
these transactions are so enormous I
lost all track of them a long time ago.
am now hopelessly lost. BY bringing
this action against me Mr.. Robson has
ruined me. A year ago 1 would have
taken my oath that was worth over
100000 over my investments. Today I
h0W w,rNk L.. =
enough to hire an attorney Knowing
that 1 have not a dollar, Mr.. Robson
now makes me the scapegoat in the
hope that others interested will shell
out the money he wants. Negotiations
have been going on for a year with Mr..
Robson to settle these matters, but he
has purposely held back until now. For
year have had all I could do to earn
enough money for the daily bread Of
my family by doing a little scalping on
! the street. I know not what to do now.
The disgrace, of course, falls keenly
upon my family, but do not care, for
I am not guilty. I owe lots of money to
hundreds of others besides Mr.. Robi-
SON."
At first Shippered stubbornly refused
to permit anybody to go on his bond.
He said he was ready and willing to go
to Jail. Finally, however, he concluded
to accept bail, and his bond was signed
! by two friends