New-York tribune., 1906-06-01
BROKER UNDER ARREST
IMPERIAL TRUSTEE ECHO.
III. r.. Wade accused an Connection
1cith JERSEY Com pany.

Henry R. Wade broker. of No - West 9TH
street. was locked up in Police Headquarters last
night a warrant charging grand larceny. issued
by Magistrate Barlow May % the complaint
of Joseph Baguey. OF No. S54 West 18th street,
alleging the theft of s775 in underwriting deal
Of the bonds OF the New Ontario Lumber Com
pany, Of Kingston Ont
Wade was arrested at the office OF the Empire
Bond and Securities Company. No. q William
street, OF which McConvie. detective sergeant
said he the treasurer.
Wade was bailed out Of Police Headquarters late
last night by DR.. John Mckenzie. Of No. "a West
ioith street, with the assistance of Magistrate
Mayo who accepted bond in $3.50
According TO Detective McConvie. who made
the arrest. some months ago the complainant
Baguley entered into a deal with Mr.. Gordon
a member of the Canadian House of Parliament
organize and sell the bonds OF the New Ontario
Lumber Company Baguley 10 New York 70
float the company. and after advertising. met a
man who said he was Charles Phillips. who. it is
alleged said he was connected with the Empire
Bond and Securities Company 1t is alleged that he
declared the bonds could be easily hoated by the
company which he said he represented
Accompanied by Phillips. the complainant went -
the Office Of the company and there introduced.
according the detective. 10 one II. J. Taft. the
alleged secretary OF the company. who in turn in
troduced him TO the complainant. one H. r. Wade
The complainant alleged that deal was entered
into by which he paid Wade who is said by
McConville TO be the broker arrested last night,
s75. the alleged advance charges commission
for undertaking the work of underwriting the
company. Wade. according TO the complainant, al
leging that he could place the bonds through the
Imperial Trustee Company Of New Jersey. The
s775 which Baguey alleged he paid to Wade was
70 be regarded as fee for undertaking the work
After completing the deal Baguey reported in
fun 10 Mr. Gordon, al Kingston. ont. and re-
ceived. after long delay, letter from Mr.. Cor
don. alleging that he had investigated the I'M
pertaI Trustee Company of New Jersey and also
the Empire Bond and Securities Company. and
that Baguley should be careful.
Shortly after Mr.. Baguley read in paper Of the
arrest Of ). R. White. president Of the Imperial
Trustees Company, Of No. IS Montgomery street.
Jersey City, and several Others charge Of
swindling Mr. Baguley Immediately consulted
Duncan Mcintyre. his attorney. Of No. = Broadway
Nr. Mcintyre. behalf Of his client demanded the
s775 alleged 10 have been paid by Baguley TO Mr..
Wade The demand complied with and
Mr.. Mcintyre began investigation. and finally
laid the subject before Assistant District Attorney
Lockwood.
J The Imperial Trustee Company came into public
notice on February 5. when Inspectors Jacobs and
Cortelyou arrested John L. White. president Of the
company; Clyde Colt, broker. with an office in
the Vanderbilt Building; Frederick Waugh, of Phil
adelphla, and Foster Hooper. vce-president Of the
Hanover Bank. of Boston. At that time the post
Office inspectors stated that they had plenty Of evil
dence 10 show that a huge underwriting scheme
had been nippcd in the bud. II then shown
that large number Of officers and representatives
Of small companies had PAID ices ranging from S2p
that their bonds were never sold
The postof7ce inspectors alleged al the time that
New York; Waugh. in PhiiadeIPhia and Hooper. in
Boston. acted as drummers for the Imperial Trus-
spread Progdcast that it had capital to invest The
have capital OF S500OoD and a surplus Of 10000
was debarred from doing business in New jersey
other men.