The Newark star and Newark advertiser. [volume] (Newark, N.J.) 1909-1909, 1909-08-11
MAY SUE WINDSOR
TRUST COMPANY IN
QUEER STOCK DEAL
New York District Attorney
Wants Bank to Explain in
Heinze Copper Case.
EXPECT ARREST OF BROKER
TO CLEAR UP MYSTERY
IntimatiOn that Men High in the
Financial World Are
Involved.

NEW YORK. Aug. 1.-THE part
played by the Windsor Trust Company
IN the alleged larceny of copper stock
certificates valued at S11O. 900 is being
investigated by Acting Dissatisfaction
ney Mott. Mr.. Mott is very anxious to
discover just how the stock got out of
the trust company's possession. where
1t had been left as collateral for a loan.
1t Is believed that the arrest of Don
old L. Persch, charged with the larceny
Of the stock. will clear up many strange
circumstances attending the loan Of
$50.0 900, which was obtained on the stock
by Maurice NJ, Joyce. friend and agent
of F. Augustus Helnze.
There is a good deal of speculation
as to whom Mr.. Mott referred when, in
insisting that young Persch be held in
the high bail of $4,000 he said that
there were powerful people behind him
who could afford to put UP any amount
of money If they found it e%xpedient to
keep him out of the jurisdiction of the
court
Letters Caused Arrest.
The direct cause of Persch's arrest
was his refusal to answer certain ques>
lions in regard to two letters he had
written to ohm F. Sherwood, one re-
questing Sherwood to get the stock
which Mr.. Joyce left with the Windsor
Trust Company as collateral. for his
loan and the other directing him to sell
it at the market price.
The letters whose production caused
Persch's arrest served to add more mys-
terry to the transaction, as well as to
confirm Nh. Joyce, Mr.. Heinze and their
friends in the belief that there was a
concerted effort to play havoc with the
Heinze stocks.
The first, dated July 80, 1909, ad-
dressed to Sherwood, read:
Dear Sir-KindW receive from my ac-
count $500 shares of Ohio Copper COM
mon stock and $500 shares Of Davis
DAILY Copper common stock from the
Windsor Trust Company, and pay $780,
900 for same. d. PERSCH.
The second, dated August 2, also ad-
dressed to Sherwood, was as follows:
Dear Sir-Kindly sell for my account
1850 shares Davis-Daly Cooper and
Is, 800 shares of Ohio Copper at the mar
ket and oblige. d. PERSCH.
Strange Facts In Lonn.
The date of the first letter was three
days before Mr.. Joyce actually de-
posted his stock with the Windsor
Trust Company and received the $780,
COO, minus $780,, ostensibly deducted as
payment for six months interest. but
V1 QO0 Of Nyhfah ~ fC cold MO & rofainaH /
by the trust company for the accom-
n.odation in making the loan. The
other $500 Mr.. Mott learned, it is said,
to Richard L. Kaufman. the
broker who acted for Sherwood, and who,
according to his story, thought he was
acting for Persch, who had given him
to understand that the stock was al
ready on deposit and could be taken up
on the payment of the $50, 900.
1t appears, however, that Sherwood
did not go to the trust company to get
the stock until August 2, when the loan
was actually effected.
Sherwood in his statement to Mr..
Mott said that Persch. whom he had
known for two or three years, had told
him he wanted to take up the stock,
he was unable to raise the neces-
'NAJ mum oAlt NOOh SOl llie oOU, UUD
in cash from Leonard j. Field, of L. ].
Field & Co, at IA Broadway, where
Sherwood had desk room. Field was
to get $500 for the accommodation, but
SO far as could be learned he received
security for the amount.
May Sue Trust Company.
The fact that Persch asked Sherwood
ON July 80, three days before the loan
was made, to get Mr.. Joyce's stock at
the Windsor Trust Company, Sher-
woods statement that he was in the
trust company's Offices when Mr.. Joyce
was completing the loan and the agree
ment Of both Sherwood and Joyce that
hey had never met before yesterday,
together with President Young's state
nent about the transaction, only helped
70 u wonder as to what part the
trust company played In the transac-
ton.
Mr.. Mott said that It looked as II the
Windsor Trust Company had much to
explain. TT looks as if they had one
man in one part of their offices and the
other mar in another and played them
against each other for 81, 000,' he said
MI. Rosenthal. speaking for Mr..
Joyce, said his client undoubtedly woula
take steps to compel the trust com
pany to, bring proceedings TO Obtain +ba