New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-11-23
STOCK BROKER ARRESTED.
! FLETCHER SHERA AND HIS CLERK
ACCUSED BY GENERAL SICKLES.

J. Fletcher shera. the stock broker OF No. 6
wsll-st-. and member of the New-Yo Stock
Exchange who failed on Monday. was arrested
In front of No. sc Broadway yesterday morning
by Central ONCE Detective Barrett. charged with
grand larceny. At about the same time Central
ONCE Detective McConviIle at the 23d Regi-
rneut Armory. in Brooklyn, arrested Lemuel W
Baxter. Shera's bookkeeper. Both men were ar
rested on warrants issued by Magistrate Zeller
81 the instance OF General Daniel E. Sickles
the charge being the securing of $4,000 of
General Sickless money under false represen-
tations.
The prisoners were taken first to Police Head
quarters. where their counsel, Deos McCurdy.
had e consultation with them. They were then
taken down 10 the CenJre-st. police court where
Magistrate Zeller renlanded them until p. m.
Daniel P. Hays. of No. 141 Broadway was in
the police court with General Sckles as the lat
ter's attorney. al the morning hearing MI
Hays said that General Sickles's profits on the
investment he made last summer amount now
70 more than $4,000. Many times his client
called for an accounting. but was put off from
time TO time with excuses Mr.. Hays said that
though the specific charge was for $4,000 the
aggregate amount would reach nearly $4,000
General Sickles, Mr.. Hays added. reposed the
utmost confidence in Shera at the time he made
the investment
General Sickles in his affidavit sets forth that
on September "a he gave $4,000 to Shera for
the purpose OF investing in stocks. and that
Shera and Baxter conspired and did convert
this money TO their own use. General Sckles
stated that IL was represented TO him that with
the money given by him the following shares
were placed to his credit: Nine hundred shares
OF Metropolitan Street Railway, five hundred
shares OF Brooklyn Rapid Transit, three hun
dred shares OF Northern Pacific common, one
hundred and fifty shares Of Northern Pacific
preferred. three hundred shares Of ST. Paul and
three hundred shares Of Missouri Pacific. Gen
eral Sickles also declares that subsequently he
paid shera S2.019. which was Hquidated by the
turning over Of two hundred shares OF Electric
stock 10 shera- He also sets forth in his aft
davit that he gave $1,000 additional 70 Shera,
all OF which in cash.
shera is thirty-seven years old and lives at
No. 129 West Seventy third-st He had nothing
10 say 70 the charges except that he was not
guilty. Baxter is forty-six years old. and lives
Rt No. 702 Quincy-st. Brooklyn.
When the was called again at O'Clock
in the afternoon. Mr.. Hays said that Mr.. Nc
Curdy for the defendants. had asked him over
the telephone to let the case go over until to-
Gay. he was engaged in another trial This
was agreed 10 by the Magistrate who paroed
Baxter on his own recognizance. shera was
sent 10 the Tornbs without bail. pending the
further examination Of the case.
The Office Of Mr.. Shera closed when re-
porter called there IN the afternoon and several
customers Of the place stood in the corridor
where they discussed the latest developments.
Nj Shera is we'll known TO most members Of
the Stock Exchange. He was formerly of the
firm q Townsend & Shera, who used TO do a
large brokerage business.
Mr. shera was admitted TO membership in the
Exchange on April 80, 1900 Il was intimated
that ne had good Washington connections, and
he appeared 70 be doing q profitable commission
business On his suspension, which was an
nounced on the Exchange on Monday. 1t
developed that he had closed all his contracts
days before. AS yet the Stock Exchange
has no official knowledge of any alleged wrong
DOING By Mr.. Shera Until it has there is little
Likelihood OF any action being taken by that
hodv-