Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-04-27

A dispatch from New York City says
After Dr. Hogelsberg mailed a
machine written circular bearing his
own signature to each of his several
hundred customers, he packed up his
belongings and departed, accompanied
by his vile and 10-years.old boy. He
left no address. He was the head and
| front of the Investors Guarantee and
Trust Co., which had handsomely ap.
pointed offices in the Lords Court
Building, Exchange place and William
street. The concern was labelled as q
stock, grain and provision brokerage
| corporation, and was Incorporated
under the laws of West Virginia, with
a capital of 1000, o0o
DIR. Hogelsberg's wife acted as his
amanuensis. and opened the mail. On
Saturday last, both remained away
from the office, Tho clerk received a
telegram that day. dated Montclair, n.
j.. and signed by DIR. Hogelsberg in
which he said he would not be at the
office until Monday.
At Mcntclair, the doctor and his wife
lived in style. They had four horses
and two carriages, and employed a
coarhman and a cook. The coachman
was notified by Hogelsberg on Friday
last that he and his vile and boy were
going to Europe.
You may sell the horses and car
| riages," he said TO the coachman.
land with the proceeds pay the feed
bills which | owe. The amount re-
naming you can keep" and he then
| thoughtfully wrote q recommendation
| for his coachman and left with his wife
and boy.
He went to Newark, and on Monday
1 sent note to his clerk, dated Will
mington, Dell. saying
Important business detains me here
at Wilmington till Tuesday. | will be
back in the office Wednesday. Keep
everything in good shape. .
The letter had not been mailed at
| Wilmington. 1t was mailed at Newark,
N. J,
A few days before the doctor disap-
peared his clerk noticed that he was
busily engaged in printing circulars on
q duplicating machine. This is the
circular. and copy was sent to each
of his customers.
April Is, 1899. Dear SIR The most
painful task ever had is to write to
you that disaster has overtaken me,
suddenly, unexpected. The recent
panicky markets weakened me, though
by no fault of my own. was optim-
istic and bullish like most Of us, and
carried securities on slim margins.
When the slump came had to pay and
my customers did not come up with the
promised margins. In a frantic effort
to save all L sold short, and was this
time caught beyond help. The rapid
advance ruined me altogether. might
have withstood all had not the panic
caused immense and immediate with
drawals of funds. Like the drowning
clings to piece of straw, | hoped
every day that the tide would turn in
my favor, till today | am penniless.
TO shield you from fruitless and
annoying publicity | have destroyed
my books and nobody knows your
name. | have kept memorandum for
myself, so as to be able to square my
account should fortune again smile on
me. DO not write or call at the office.
Give me a few months time and | will
try to make everything all right with
you. | will first settle with those in
vestors who came in recently and GER
tainly lost most.
II have also to tell you that L, and
alone, have always constituted the sole
company. The treasurer was figure
head like all the others, and he was
but once in his life in the office. He
never saw book or account and had
the certificate signed in blank.
was fool to think | could beat
the market and make fortune for you
and me, but you will hardly bs more
successful. You lose only few dollars,
while lose my verysexistence. Yours
truly, Dr. ii. Hogelsberg.
One year ago, DIR. Hogelsberg came
from Wilmington, where he had a prac-
tice as an oculist.
He and his wife went to live at Nc
so West Twenty eighth street, but
when the brokerage business began to
pay he leased the pretty residence al
Montclair, N. j., which he continued
to live in until his disappearance on
Saturday. 4r
The Investors Guarantee Co. adyer.
tised extensively in the QUITO town
papers, and customers came from as fai
away as California. They sent none,
for Investment ranging in amount from
5000 to $1,000, and the company's
books showed the names Of 400 Gus,
toners.
The company pretended to deal il
the very highest class of dividend pay
ing securities, and promised returns o.
not less than / per cent month.
DIR. Hogelsberg is an Austrian. He
came from Chicago to this city in 1883
and engaged in the optical business a
No. SIG Market street. During the las
three years of his stay here, the bust
ness was conducted In his wife's name
He went to New York last May, ane
Mrs. Hogelsberg followed him three
months later. Hogelsberg tried to in
duce many Whining tonians to becom,
stockholders in the trust company, but
secured only few. The name Of r. G.
Lungren of this city appeared on thu
company's stationery as treasurer O.
the concern.
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