New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-09-17
A SWINDLE CONFESSED.
ONE OF THE MEMBERS OF AN NC
CUsED BROKERAGE FIRM TURNS
STATES EVIDENCE.

Tho .v,dencs submitted Yesterday at the Centre
Street Court the trial OF memoers VI a M
of brokers who are accused Of swindns wo'i'a"
caused Magistrate Crane to exclaim TINS Is 'le
biggest. the most bareiaced s"ihue wv
off, , ,,,
The prisoners In the case were otePhe" ~
William Archer and Clifford Davis. VINO WEI e'"
nected with the firm OF Tobin IL Troy az 80 -
Broadway, and the complainant was "'i
Troy a Junior member of the firm who had turned
states evidence 10 save himself Mrs i. ~
Wheaton. Of No. 234 Fifth-ave.. recently prcutii'
charge of swindling against the hrrl anu ii's
went to the District-Attorney Once ana nI"ue
confession to Assistant District-Attorney Farms.
His three partners were arrested on NeUn''%'
afternoon, but Mrs. Wheaton failed to ideh'i4S
Archer and Magistrate Crane discharged MN
Mrs Whecton testified that she met Davis IN
June and he told her that he had information 'n.'
would enable her 10 operate In STOCKS win pm
He introduced her TO a young man named Barring
who declared that he had made small fortune by
following Davis's tips. She consented to invest
some money in stocks. and Davis took her 10 iooh
Troys Office She made an agreement TO specu-
late through the firm. and on August II she turned
over to the frm sixty shares of the Reading s'oCh
and 81 800 In cash to be used In speculation IL
was agreed that deal should be made on he'
account Until she consulted by telephone.
No telephone message from the firm reached MIS-
Wheaton. but on September she received STAT
ment declaring that all her investment had been
lost and she would have to put up Sl'WV more 10
cover her margin. She tried in vain to get an eA-
PLANTATION and then made a complaint.
When Troy called to the stand yesterday he
said there had been agreement with DAVIS u
obtain customers for the firm OF Tobin 4 troy Al
one half to Davis and the other hall 10 Iopih I"
Troy &y,., do Won nssng" asked Magistrate Crane.
"Profts?" echoed Troy. There were 10 be no
profits We to divide the none! palu III Wy
The customer The money was given US 70 SPcv..
late with. The customer was 10 De wPeu. ou'
and no returns were TO be mace until ai'ei
The Reading stock he continued was translerrt9
70 another nal me the books of the nrn: anu
was then sold The money was dlVlden-sVo 20
Davis 500 for office expenses NVo LOT 1ioS anu
$3.50 for Tobin 1900 800 - ,,,of hu+ Won turn
against your accompces," sneered Mr.. SteinhaIut'
counsel for the prisoners - ,.,o. ,,o mot
al owe IL to my wife and my two paDles: no MAJ,
ter what the world may say. 10 gel out vi " o'o'
replied Troy. - ., .,,e.,. or3
Magistrate Crane could not restrain himself ana
he hurst out IN a fierce denunciatlon OF the dHdll
II have listened to charges against orokeIs De
fore. but this Is absolutely me "oiS' e'ei ''''N
IL is an outrage he exclaimed. -, ,x.
Davis was the only witness called by the deIeicge'
He said that Troy liar. ana that ms tts.
mony was a tissue OF lies. The agreement Vas ~
divide the profits. the commlsslohs, IN NIL h;rdsS
understood that 1t was TO be a square business
When questioned about the signing of returns
after 8 O'clock he became confused ana STAIN
trete Crane held Tobin and Davis in $3.50 each
for the Grand Jury. Tohin secured pau an 9G G"s
released. Davis however, was unable 70 hh9
bondsman and had 10 go over to me iodn9n, ~, NJ
courtroom that he intended to make good Mrs
WheafOn'S