The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-11-18
SAY He POCKETED MARGINS.
CiNlDIJN CAUSES ARREST OF
WALL ~. "RROKER."
Great Fronts We're Constantly Reported by
Charles ". stuart. but n CAN for Settle
ment brought Out a Plea for Time
Other Victims. Detective says.

ment br0uSht Ot q Ptea Tor Time
-Other Victims. Detective says.
Pleading with his customers and credit r,
for just a little more time and assur I e
them that il was the only thing neeCel
TO enable him TO repay the several thousand
dollars for which they clamored. Charles
W. Stuart. who says he did a legitimate
brokerage business at 8 Wall street. was
locked up in the lombs yesterday on sus-
picion of being a get richquick" swindler,
stuart il a Canadian and so we're all his
accusers. He is married and lives with
his wife and one child in fine apartments
at 100 West tI5th street He was arrested
there on Friday night.
Magistrate Walsh in the Tombs police
court yesterday morning set the examina-
ton for . o'clock next Friday afternoon.
Unable TO give S? 900 bail, Stuart was sent
over to the Tombs prison.
Lawyer Jacob Newman Of 800 Broadway.
representing W. A. Wood Of Hamilton.
Ont, the complainant. told the Magis-
trate that Stuart never executed any orders
intrlsted to him but pocheted money
sent to him outright, His alleged part
ner. Joseph c. Harris. who was represente ed
as the board member and a member
of the Consolidated Exchange. was ex-
PEELED two years ago. the lawyer said, for
insolvency and his seat vas sold.
Stuart received MANY orders AVID MARGINS
by mail, the lLwyer said. and from time
- time sent elaborate staIaA.SLIs of their
accounts 10 clients ALWAYS showing crafty
ing profits. Demands for cash, however,
he always evaded by remarkably written
letter.. which not only satisfied his clients
hut caused them 10 forward large addi-
tional margins.
From W. A. Wood he received forty
shares of American Cotton Oil common
stock, valued at 81 100. TO open an account
That was in January. Wood continued to
operate getting holder each week. n
seemed TO him, from the continued state
ments Of profits sent by Stuart. that ne
was a veritdble Midas. About a month
ago his account showed S. 100 profit. and
alarmed by something in one Of Stuarr's
letters he demanded a settlement. Stuart
writing letters, but Wood insisted on
closing his account. Finding himself
cornercd. Newman said. Stuart wrote
n final letter, in which he old of losing
$40 o by taking some forged munic-
ipal bonds from a Western customer
After be had negotiated several loans on
them, he said, "A bank had discovered they
were spurious and threw them back on
his bands.
"Of course this embarrassas me-" he
wrote, but IL can he only temporarily
If you will be patient and do but grant
mesa little more time | can with my knowI-
edge Of the market work wonderful sources
OF information, &c. easily recoup this loss
and pay you in full.
That was enough for Wood. ard he got
Mr.. Newman to swear out a warrant for
Stuart.
Detective Sergeant McConville told the
Court he knew of three other Canadians
who allege sim liar losses. a~Pgregating
81, OO0, and he thought he would hear of
manv more before the examination comes
up Friday.