The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-01-06

Several arrests may be made "a a result
Of the facts that have been disclosed in
tho bankruptcy proceedings against Mum
roe & Munroe. the laundry brokerage
firm which obtained from the National
ctv Bank a loan daily for eight days Of
10000 on unndorsed and unsecured de-
mand notes and which used the money in
washing hundreds OF thousands Of shares
Of Montreal and Boston Consolidated min
ing stock on the Wall Street curb
The arrests would be made on the charge
nj having conspired to defraud. although
Ills not improbable also that there may he
al least one arrest for perjury.
Any plans which those in charge Of the
creditors interests had In mind In this
direction we're zealously kept under cover
Yesterday Samuel Untermyer, counsel for
the receiver. would not say against whom
criminal proceedings might be brought
He did say. however. that it was his con-
tention that group OF people when they
get together and wash stock TO draw the
public into the market are obviously In a
conspiracy TO defraud For an arrest
complaint would have TO be made by some
individual who regarded himself as de-
frauded
Detectives from Inspector McClusky's
@ar have been present at the last two
hearings In the bankruptcy proceedings.
On Wednesday Barney McConville. who
Is supposed to be the Central OFFICES
superior sleuth In matters of crooked
finance. listened TO the testimony Of Cameron
Spear, general manager Of +. p. Ward 4
Co. and a member OF the underwriting
syndicate to which Archibald G.. Loomis
second vice president of the bank belonged.
and which agreed TO take zoo 600 shares
Of VI + b. at 81 share. McConVille on
Oct IS. 1898 raIded the Manhattan Bust
ness and Realty Exchange, doing business
under the name Of Norman Spencer. He
WAS ready if he had been called on, to
Identify the witness Cameron Spear mem
Der az the underwriting syndicate and
general manager" Of F. p. Ward J. CO.,
as the Charles C. Spear whom he arrested
on that occasion with Alexander McCauley.
Yesterday Detective Peabody. who also
has the reputation OF being well versed In
financial games Of shady repute. was pres
eni Counsel for the receiver expected
Spear to show up again for examination
and also to deliver tho books Of + p Ward
Co showing their transactions in NJ 4
with Munroe 4 MunToe and his own
bank and check books. He had been
directed by Commissioner Alexander on
Wednesday TO bring the books.
In his stead appeared at the proceed
ings yesterday Abe Gruber who has been
engaged "a Spears counsel. After half
an hours wait for the witness. Mr. Cru.
Der admitted that he thought IL would be
waste OF time 10 wait any longer Mr..
lv1tkar prnrniaaA tbat vrOnlA
to-day. Mr. Untermyer said that unless
Spear brought the books hs ordered his
commitment for contempt would be sked
for.
Quincy Ward Boese, secretary
OF the underwriting syndicate and the man
who admits that he was buying NJ. Il b.
stock regularly that he didn't know
was syndicate stockas an act Of acconno-
dalton 10 the Munroes told yesterday
some Of tho things that he had done as an
officer Of the syndicate in the management
Of H. business
One Of the underwriters was A Clough.
0f him Treasurer Boese knew nothing.
cScept that he hadn't paid his subscrip-
ton Mr. Boese had made no effort to
collect IL. Mr. Clough's name was put on
tho li-t at Munroe's recommendation.
Oscar Ddube il another Of the under
writers who according TO Booze. dcfaulted
On h, subscriptions All that Mr.. Boese
knew Of him was that he was in bust
ness John j. Roach also was unknown
10 linn except on paper He had never
heard that Roach was a clcrS in Muuroe
i Munroe'~ Office OF John Kelly also he
was ignorant, except that he had been
brought in by Munroe a7 also had George
Lynch Campbell another underwater.
he thought was connected with A. b.
Leach- office
Mr. Boese said that he had heard that
the Alun-oes secured F. p. Ward & Co.'S
'uhscr ntion 10 the syndicate for 1000
shares lie had never heard of Ward 4 Co.
before ther became members of the syndi
cate. but since then he admitted that he
had noticed some extensive and urd"-
these words by Mr. Untermyer advertise
tuent- 10y he firm IN connection with the
trading in # K 4. For their 70Oo0
share, IT syndicate stock Ward Il Co..
Nlr Boc-e said. had paid up 10 the present
$1,000. They had not paid their second
lnstalment
Why didn't YOU collect these large sums2-
asked Mr. Intermyer.
Why the people didn't pay, and didn't
know il was my duty to take any step in the
matter was the answer.
You say il wasn't your duty?' continued
VIZ JnteTmyer. Lets see il il wasn't.
The syndicate had undertaken to supply
to the Montreal and Boston Company
10000 IN cash. You we're the treasurer
Of the syndicate. 1t actually has supplied
'Pl0oo. But the syndicate has the stock
So0o in the New York Security and Trust
Company and 200 900 held for the syndicate
by Munroe 4 Munroe. Why hasn't the
syndicate paid Munroe 4 Munroe for the
stock"
Mr.. Bocse said that he understood that
The syndicate was required only to meet
certain payments at certain times and this
u had done.
Tho receiver Of Munroe r Munroe,
@id Mr. Untermyer, hereby calls on the
syndicate to pay the balance Of its sub
fc-iption
Mr Bocse said the syndicate was not pre-.
pared 10 DO this. While two calls had been
made on several Of the underwriters. he
admitted that only one call had been made
onhunroed uunroe and himself He wasn't
certain aboutFardd Co. George II Munroe