The Brandon news. (Brandon, Miss.) 1892-1961, 1907-04-11
bold SWINDLE.
IN new ORLEANS

BANK CERTIFICATES RAISED TO
ONE HUNDRED TIMES VALUE.
one MAN DROPS $t&,OO0
PURCHASER OF 600 SHARES OF
WHITNEY NATIONAL CERTIFI-
GATES rs ENTITLED TO ONLY
SIX-BANK OFFICIALS SILENT.
New Orleans. swindle involving the
sale Of 594 bogus shares of the Whitney
Central National Bank whereby we'll
known millionaire property owner Of
New Orleans was mulcted of between
100000 and $4,000, and similar deals
with the stocks of another bank and at
least one other large corporation, was
discovered.
As result Nathan E. Wohl, former
president and secretary of the Krauss
Company, Limited, a stock broker and
Spectator who, it is alleged, was caught
on the wrong side of the market, is miss
ing and his whereabouts are unknown.
He was the holder of the stocks mention
ed, and it is alleged that, in order to
protect himself, he raised stock certifi-
Gates of small denominations to denomi-
nations of 100 times their original face
value.
The extent Of his operations is not
known. It is known that he secured 1T
least $4,000 from the New Orleans
capitalist, and that he caused the sus-
pension Of a brokerage firm on account
of deal resulting in loss Of more
than $4,000, but it is not known, and
apparently can not be learned, to what
extent his alleged speculations have
reached.
Wohl has been resident Of this city
for more than ten years, having come
here from Dallas, Tex, where his father
was well connected in business way.
For some years he has been known as
Spectator in New York stocks and Sc.
curities through local brokers, and until
within few months it was stated that
his operations had met with considerable
success. The panic in Wall street recent
ly is said to have been the prime cause
of his downfall. He had gotten upon the
wrong side of the market land it is said
pulled others in with him to such an
extent that many thousands Of dollars
were lost.
It is stated that he raised the denomi-
nation of stock certificates in order to
secure pledges for his deals, in covering
his margins and in carrying on other
branches of his business. These forged
stock certificates, it is alleged, were
placed as security with local brokers
and stock dealers, and in this way he
was able to handle his deals until it was
no longer possible to maintain his posi-
ton.
According to the best authority, the
crash came last week. Wohl's deals had
gone from bad to worse He saw that
be could no longer handle his margins
or carry through the deals in which &c
was involved.
The last seen Of Wohl was on Satur-
day, when he is said to have disposed Of
600 spurious shares of the Whitney Cen
trail National Bank.
Tt is said that the speculator was in
desperate straits, and went to CAPT
talist who is known for his ability to
take up any good things that may come
his way. The stocks were offered at a
sacrifice. Wohl expressing desire 10
clear up all his indebtedness and get
right with the market.
The deal for the Whitney Central
shares was closed and the money paid
over. This was the last seen Of the
Spectator, according to all reports.
Since then his absence has been con-
spicuous around exchanges and stock
brokers' Offices, and there has been a
deal Of talk as to what might have been
the cause. For two days this was kept
up before the cause Of his disappearance
was ascertalned with any degree Of GER
tainty.
This came about through the discovery
Of the swindle in the Whitney Central
Bank shares deal. The purchaser Of the
shares presented himself shortly before
the noon hour at the office Of the cash
Ter, and handed to him what purported
to be three stock certificates, calling for
100 shares, 200 shares and 800 shares
each. He asked that they be verified,
stating that he had recently purchased
them and wanted them transferred to
his name on the books of the bank. He
desired that the transfer Of the certif-
Gates be made, and wanted to see the
stock books from which they were ex-
tracted.
az +lo bc,,L ryorc ~