New-York tribune., 1907-10-13
STOLE TO MARGIN STOCK
Br0uIccr Robbed Brokers, Hoping
for Upzrard Turn an Market.

\ desire obtain enough money to cover the
margins on his holdings in the stock market until
he could make good his losses when the market
took a turn upward led George H. BrOuwer TO
tamper with the funds of James II. OIphant &,
Co. brokers. OF No. 20 Broad street. and those OF
Jay +. Carlisle. the broker who has desk room
IN their office. Brouwer, who for half dozen years
was confidential manager for Ol!phant & Co. while
he acted in similar capacity for Mr.. Carlisle adj
mitted freely enough yesterday at his home at No
535 Washington ave, Brooklyn. that he had used
the funds for this purpose.
Ills admission that he had confessed 10 his en-
ployers week ago the appropriation of their
money was confirmed by James H OIphant the
head OF the firm. Mr.. O!iphant said that Brouwer
had aided the accountants in Strengthening the
books, and that II had been found that the loss
20 his own firm would amount to about $1,000
Just how much ATv Carlisle has lost has not been
determined. The broker. whose discovery Of the
appropriation by Brouwer Of check for 81 80 led
10 the disclosure Of BrouWer'S peculiar method OF
keeping the books. would make no computation OF
his loss, though Il Is expected to be fully as large
as that or OhPhaut & Co. The check represented
the sale Of farm OF Mr.. Carlisle's in the Berk-
Shines, while the broker was in Europe
Mr.. oiphaut said his firm had always placed i'm
plic't confidence in Brouwer who was considered a
man well fitted for the place he held
Brouwer while admitting that he had made un-
authorized use OF his employers funds appeared
greved at his arrest. lie said he had ex-
plained 70 them at tie time OF tine confession that
he would Try 90 make good his loans and had
expected he would be given chance 10 do SO Il
was Mr. Carlisle who insisted on having his conf
dental man arrested. Olphant & Co. lr;iuated
yesterday that they undecided whether they
would make charge against him. II Is probable
however. that they Will follow Ny Carlis!s.s ex-
ample.
IhorSh the amount or bail $4,000. is large. con-
sidering the which B.ouwer : charged
with having taken. Brouwer had little difficulty IN
obtaining H. Charles T. Galloway and John =
Nicholson. cornlce manufacturers OF No etS II,d-
son street went on the bond, the former Offering
real estate in Greenwich street valued at So 90
and the latter giving the property at Nos 8 and
West SD street. worth $-2SOo
bIodwer declined TO say what plea he would
enter when arraigned on the charge OF larceny on
Monday. He was careful to insist that his iudg-
ment IN stock purchases had been good but that
the general slump had led his arrest
He lived in good style. and has a wife and two
sons who feel deeply the stigma of the publicity
given them by the arrest. Brouwer was the head
OF the brokerage firm of Brouwer & McGown
Nhcsl failed IN 1889 with liabilities 1f more than
$4,000 and assets OF not $4,000
The peculat'ons OF Brouwer will not have II ia
said. any serious effect the business Of tho
brokers by whom he was employed Mr. Oliphant
said that wherever losses 10 customers were in
voved they would be made good.