The sun., 1900-11-24
FAILING BROKERS JAILED.
rsf,TIptI Bi'krR i>D B0OhhiiriR
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I,u,lcting Too stock Dealing Gusine"'
with salad and shcrp an the sid"
Chester u Lawrence. Jr, u stock lrtr ~
q, Broadway. hi, o~teIsiN'c - Ti'r'r fC"aid
b Indrrhill. who il really ~. h"nd ~ th' '"n-
corn, and the head hookkcclcr G'otg" u
Wolhe-t were arrested at O'Clock iGu oven-
ing and locked up in Police il"HdPuar'''''
charged with grand larocrv The arr, :
came ~ the sequel 10 an announcement 81 We"
failur. ~ Lawrence in the morning and the
appointmeut - Nolhcrt "a, m" l-""'rs as
signee, CONSEQUENT upon court proceed
irgs begun last Thursday hv Mrs catherine
RorCkcrdorn uf - Wet Eighty fourth street
20 compel Lawrence tu civ" h"r nr nc"nuf'irG
of her busines. transactions with hi concern.
ON hearing Of the fiimrc. capt Mc'lusNy,
Chief of Detectives after cors'iit"lion "ith
the District Attorney and without waiting for
n complaint bv any person. decided 70 lock up
tho whole outfit lie took th!' radical step
because Of the merc"a- fleeing q! 'h' public
reccntly by "A lot of concerns Turp"r'inR TO do
"A legitimate brokerage business bu' really
buckctirg orders and leaving their customers
In the lurch whenever the market went asoinst
them The Lawrence case looks TO Cart.
NcClusky ike one II these and he determined
10 take the bull by the horns.
While MS kOnCkenOOrI t!I not 60 10 'i''7
Headluartrrs to complain her charge that
she could get neither an accounting nor her
money vas used as the basis Ol he arrests
The prisoners are charged with stealing thrte
Sl.rU bonds turned over a cOllateral 10y
Mrs RonckendorI to the concern
The arrests we're made without warrants.
Tho books OF the concern were seized ana the
offices locked up. the detectives keepihr the
KEYS Even had the police taken no action
Nolbsrt would probably not have been per-
Initted u act as asssyneei as ploierd.hg7 had
s.a' fosisr pen Ieefiy Street In behli OF three
creditors OF Lawrence to throw the concern
into oanNruptcy
Chester B Lawrence. Jr.. the man whose
name was put To the front In the business.
Is the son u Chester b Lawrence. Brooklyn
warehouse man Hin family come, tons are
ington avenIe. Brooklyn lie las been a
member Of the Consolidated A lxch1nGg since
wealth lie is IL years old and &c Ives az
lo49 Lexington avenue His father VINO
S9Is SsS ns York ss stScE F EscaSnse lie died abont
year ago. saying to his three sons about
P ys sa5s sss at H Hsy SSnst{ sSass ros and "Esh IN 1
sh. .y New ss; 'ie'i York stoef E,s.ansF Edward.
Exchange but whose fai !ure Zen year, ago
kept him from going back, having come into
bis share of the estate Joined forces with
Lawrence went on the floor Of the Exchange
and Underhill ran ttines GENERALLY
enth door Of 81 Broadway, doing q small bust
ness Then they decided TO branch cut They
Sn %0ySs ss RfS R %sn aSol q 0Is the bGs and Ss
tablshed branch offices at o2l brO1dway
90 West Iwenty.third street, i22; Broad%nEy
uptown oficos were i,,et W a. consideratl,,
expense with view 20 he entertnlnnient oi
women customers Then they advertised in the
'' AZ trss returns were slow. Then their nlnr-
ing advertis .ments bore fruit md busincfs caine
-,SsL r,,.h t,l ah nj lav n,
town land office bgsi,.e;s was done, The
saniwiches and Supplied with sherry and whi.-
key all dsr long Ther go>sii ed. Gt' drank
and sHccull ted. and the business sr'~ r,,ti t!n
share. day on such a bustnc III" rrpi.ts
in comini, ions alone would 21monnt 10 = ."o1 Z
lecitmnte il seems difficult 20 zee how i.ilGrs
could have oyertaken them.
several explanations are o,erod as to h"w
10 ave admitted 70 aa officer of ,d. Console
dated Exchange yes;teriay th1t odtSid" -'oo-
4 ~ Rroad street. expressed the o'inon thar
idiotic management cnused the smash Others
were pnkind as to sey that Tie concern buck
sad TO cone Anyway. it did come II BEGAN
ccrinE ten deys ago Lavreencss and jnder-
realized tha{ the COIL hot ,tey prerared
nj gan, b,r rnon.b shuf 10 declared evarJ
,hInc y,un ~ vlr,,,J Lor. gona vii
p',,,,,,u ", troNl 10 for Iavrence and I'nder-
,nI a"j.i,sr rLsnce no ono knews v.ere in
cS'r,c,,,is,inn Ssr,, ten doys ago CIstouers heard
aaho,, Nc dicpcuItv o,bsr cus,on,ers wa-s ha,,
a. Il, o,,ina tpeir mana. md ,bo, bego, to
liz liz n, n, ,,bo hoottnennrs for ncccuntinrs The
,na,o 10, o' .ar ornloined that they were TOO hi,sv
~ ko.o ~, With ,hsir IootS anr /, f,ct they
80. -, .haj t,r their ~ ON shnfe, i1ii. did
w, , n,' IL, ic ,i,, nrdors hp, /, u,,je ono.
*. ra,,. snaculat,nns of women with their
VIZ w., INA I'm ,he ,umor, grew and so ia
,,ha Hinai.tcrce ~ tbe clst0morg Iss, Sat-
nrS,v Ma Porckendorf went TO Lavver r.
y uiuin,ton Of % broad street and tod him
sbe yanicJ nm arcoIIntin. and cC,Ilirt ge, H.
u,il - Nv -oIJ bo'i cet IL and IA. went Ia 4c,
Ir,.arhu iIe d,dr't ,et M ,rro,iut!f,L. th.n
I ,hn'',b T., Uc,t hacL N,nla. lue.'iuv
a,,i a,,i ,tn,nal,V st,Ii no r,',.I'Ia'I rei /, lion
r. aai" 80, 10 he e,,ire II rcaI uolicr ,uurt and
ns Ss,n%ivat N sutrIo,,t- Tor i,v-ro',, :. la ai,Clr
and shox whv he saouli not sl, Q an accoui'in.
onu 81" III, Ter ,l.nt, Il ID ,uL.iu nj =
' rwn % Nd cone tn cas-. & Ney. irk f.
Soa.au s,,snt nj ,Uo guits one for 5000
90 90 Vnr sann had heen tlled in tho Iit, CEIlrt
GnJ a. al, heSaf Three oilers went To- Atiorr ey
II u,ar .,er' Tbev we're - Badt. Nlx Frltk and
InwsS. ,ahns,n Their claims Amounted 10
:, .no Thav lad been trim. 10 ret 4 cir
Sa,Cvro, "a couldn't Foster lied lie failed
sno Ite eays Jawrence told hin he didn't
S".o To- ,po ,,Iy'ey
hr hr.a. ,ho lauver svore he A Got ont e.pe,ition
j.. thnra tnen thrown into b1. krtltcv Thcv
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