New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-08-11
ARREST IN JOYCE LOAN
pPOKER WHO GOT HEINZE
STOCK IN TONES.
Md in sjO.OOO Bail after Dir.
Nott Tells Court There Is Some
body Behind Him"

-. arrest If Donald l.. PersCh dapper
ING vonng man. Yesterday morning in the
Is-.rirt Attorneys office charged with the lar
of copper stock certificates valued ~ Nllo.-
~, las not entirely cleared up the ciTcum-
.ss attending tl, loan Of SIo1Go which was
s,.ined on The stock by Maurice N. Joyce. the
- and agent of F. Augustus Heinze. The
=, # tho Windsor Trust Company, which Mr.
-. ssrs he believed was The principal i'm MAX
- ,l,s loan in the transaction. has not Vet hven
s,sined 10 the entire satisfaction OF Charles
y No,t Assistant District Attorney.
There is good deal Of speculation as to
-, A,r Mott referred when. i'm insisting that
nc persch he held in the high hail Of $50
aco no said that there were powerful people be-
.,,d him who could afford 10 put up any amount
- none if they found ii eNpedient 10 keep him
~. n the jurisdiction of tho courts
The direct cause Of Persch's arrest was his re-
ssol 10 answer certain questions in regard To
- ts,ters be had written To John r Sher-
aood one requesting Sherwood to set the stock
nbicb MIR Joyce Ieft with the Windsor Trust
compsny as collateral for his loan and the
o,her directing him 70 sell ir AT the market
price
sherwood whom Nh Mott wanted 10 examine
- Monday in regard 10 his connection with the
,-snsaction appeared Yesterday morning in the
.or,nsnv Of Detective Norman J. Fitzsimmons
and during the course Of his talk with Mr.. Mott
rrosucsd the letters showing that he Was act
ire under the orders Of PersCh. The latter was
waiting outside. and was al once called i'm and
asked 10 explain.
turning 10 Alexander Earlin, his counsel. who
Vss q business associate Of Carl Fischer Han
sen when young Persch was employed as a clerk
by the latter he asked his advice and was told
not 10 answer any questions 4 threat OF arrest
failed 10 break his silence, and he was hustled
downstairs 10 The Tomhs court and ARA igned on
ar affidavit signed by Detective Fitzsimmons
SOMEBODY BEHIND PERsCH."
Nr Karin. as soon AS ne recovered from his
smszement at Mr. MOTIFS request that hail be
fzsd at S50olo eXpostulated vigorously and
said that Sli.0ln ample Afterward he
agreed 10 try 10 raise S25.ou but Alr Mott de-
elared that in view Of the amount Of the alleged
peculstOn and the proceeds Of the sale OF the
stock s500oa was not too much security 10 ask
7 an convinced" said Mr.. Mott. that there
somebody behind this young man who car
readily afford 10 put Up that amount. or more.
needed if his absence from this court is found
desirable"
Magistrate CorriEan took Mr. Nott's view.
but gave the prisoners lawyer time To look for
bail After fruitess effort Ia fnd bonds
y
lehman, Of the Supreme Court. to show cause
Ehys wit Of habeas corpus for his client should
hO be issued. The writ is returnable this
morning but that did not Keep young Persch
IRON spending the night in the Tombs. He viii
nave an examination on Friday morning
ferso. who is said 10 be Harvard graduate
tha Eho has had other court experiences. took
MS arrest calmly and declined 10 discuss the
loan which the Henze interests believe was en-
gneered by persons who wanted 10 get control
G the stocks and throw them on the market in
ah effort to injure the Montana copper man.
LETTERS ADD TO MYSTERY.
The letters whose production caused Persch's
arrest served 10 add more mystery 10 the trans
scnon as well 20 confirm Mr. Joyce. Mr
herze ana their friends I'm the belief that there
vas concerted effort 10 play havoc with the
hsi7ze stocks
The first, dated July 30. 1909 addressed 10
Sherwood. read
y. geF SIR: kindly receive from my account
49, ISs shares OF Ohio Copper common stock and
80 80 shares Of Dsyis-D DAILY Copper common
pay 10000 FOR same. u PTPSc-J5
me second dated August . also addressed 10
sherwood, was as follows.
Dear Sir: Kindly sell for my account 1900
ot ossreS DaVis-Daly Copper and 1860 shares Of
N''per al The market and obligc.
j. PEGSCH.
me aaie Of the first letter was three days be-
o'F Ar' Joyce actually deposited his stock with
-, windsor windsor Trust Company and received the
'VOO' minus $500 ostensibly deducted as
ss,.eN for six months interest. but 81 900 Of
-.Ih II is said, was retained by the trust COM
- 10y NE accommodation IN making the loan.
ooer 1900 Mr. Mott learned il is said, went
A. 'a'o l. Kaufman, the broker who acted
:. shT"ooo and. according 10 his story
So ne MAS acting for Persch, who had
- "inl 10 understand that the stock was al
Nay on deposit and could be taken an on the
',sHent Of The SJ00pp
,."sppears however. that Sherwood did not go
- uust company % get the stock until Au-
~. "hen The loan was actually effected on
Nss' after receiving the order from Persch
IA. 0"ho letter 10 sell the stock Al the mar
ran - - ne od 50 through Straus e. CO. Bun
T., ADefger j. Thomas Reinhardt Alfred
pva- 70. ana another brokerage firm all
n, ~. " nave been subpgnaed 10 appear before
"A. N o-aay and tell what they know about
ShERWoODS STATEMENT
Ia, o'o NO. IN his statement to Mr. Mott said
u,., ~h' whom he had known for two or
wn. had told him he wanted 10 take
zr, e'o'k' but was unable TO raise the neces-
fsom Onl Sherwood got the $4,000 I'm cash
No :. -l@ro } Field. Of L. j. Field & Co. at
rsa, nioad"ay where Sherwood had desk
dston ~ WIS 10 get $500 for the accommo-
ssrs. 1' 30 Tar as could be learned he re-
~, security for the amount
sgs,n,s pafTnty unusual proceeding Mr. Field
snpa,.s " saying that Sherwood had been
A w,ha. hls cashier until last May and that
10 ;" heip him out Field said he felt
shat 'iy protected hut would not say in
Asarg me IN though he denied that ne knew
bstr,c, ai' who had told the Assistant
hote =. orhey that Persch asked him 10 sign
sid r. s""oo 10 Perschs order Uhlman
scgh 80 on being assured that there