Los Angeles herald., 1908-02-17
MINE AGENT
is ARRESTED
DETECTIVES FIND MAN WANTED
IN MICHIGAN
is SAID TO HAVE DEFRAUDED
STOCKHOLDERS
Former Vice President of Company
Secures Warrant Charging Physi-
ciar with Embezzlement
of Funds

DR.. J. Byron Sloane, wanted in De-
troit, Mich, on a charge of embezzle-
ment was arrested and taken to the
central station by Detectives Chapman
and Home. Today it is probable he
will take steps to secure his release, al
though he states he has done nothing
to cause his arrest and that he does
not fear to return to Detroit and face
his accuSers in court.
Before entering the Jail Sloane stat
ed he had no explanation to give of
the trouble he was in and professed
the greatest ignorance as to why he
was arrested.
give years ago" said DR.. Sloane, 81
helped organize a mining company
with man of the name of Dunbar and
a man named Hartnagle. / subscribed
for $4,000 worth of stock and paid the
cash into the treasury. 1 was elected
president of the company and Dunbar
was elected vice president.
"The mine is located in Arizona and
] have never seen the property. 1t has
never produced a dollars worth of ore
and every cent of the money received
from stock subscriptions was paid out
for development work.
"I was taken sick four years ago,
and after my recovery from that ILL.,
ness came to Los Angeles to seek for
a milder climate. The following spring
/ returned to Detroit and the mining
company was reorganized.
Turned Over Holdings
ct pulled out from it entirely and
turned over to the company all my
stock holdings, some $4,000 to $4,000
shares. / did this purposely as a mat
ter of favor, because the company had
paid nothing, and while ! was acting
president I had been paid a salary.
"Why / should be charged with en-
bezzlement l do not know. ! never
handled dollar of the money belong
ing to the company, and when / re-
tired from the office the secretary and
treasurer of the company, Mr.. Hart
nagle made out a statement of the af-
fairs of the company and / signed 1t.
''If there is anything wrong with the
affairs of the company l am not now
nor ever have been aware of 1t. have
been in correspondence with Mr.. Dun
bar within the past two years on ru-
merous occasions and he never men,
toned to me there was any trouble.
cannot conceive on what grounds they
base their charge against me. but
know have been guilty of no wrong.
Word that DR.. Sloane was wanted by
the authorities of Detroit was received
by the Los Angeles police yesterday.
| All yesterday detectives acting under
| instruction of Captain Paul Flammer
waited at the apartments of the well
| known mine investor, 321 South Olive
street, but the former physician did
not appear.
Was Successful Here
For nearly two years Sloane has
maintained offices at room 420 Cham
ber of Commerce building. There he
| conducted a mine and investment bu-
reau, and is said to have been fairly
successful
According to word received by the
police from the Detroit department,
Sloane induced a number of business
men of the eastern city to become in
terested in a mining company. The
total amount put into the venture by
Detroit men was about $175,000. 1t is
now claimed by the investors Sloane
| had salted the mine.
| Sloane is said to be engaged to a
we'll known society woman of this
city.
The complaining witness in the case
against the doctor Is Mr.. Dunbar,
former vice president of the company.
He is said to have lost $4,000 In the
/ mining scheme