The citizen. (Honesdale, Pa.) 1908-1914, 1909-08-18
Grand Jury Continues Probe
of lieinze Conspiracy.
BOSTON MAN ALSO ACCUSED.
Powerful Moneyed Interests Be-
lieved to Be Behind the Men
Who Made Loans on
Copper Stock.

mcuts were voted by the grand jury
in connection with the theft of $110.-
coo worth of ucinze Copper stock
while it was being held by the Wind
&or Trust company.
The indictments, which are against
Donald l.. rcrsch and a. ID. f. Adams,
u wealthy stcchbrcker of Boston,
charge grand larceny in the first de-
gree.
John l.. Mcintyre, attorney for
prrsch, stated that if his client could
.ret out of the Tombs he would be able
"a regain most of the missing securi-
ties or the money realized on those
sold.
This young man can go to those as
aociated with him in this affair."" said
Mr.. Mcintyre. land get back cash or
securities, as no one else can do. AS l
have before asserted, he was tool in
the hands Of more powerful, more eX-
perienced men,"
Information has come into the pos
session of the district attorney that in
not few banking institutions Of high
standing in the community loans have
been made for rich bonuses on securi-
ties which We're thereupon used for
speculation. How far this system of
finance is within the law Is question
which it is known that the present
grand jury is very eager to learn.
The grand jury also purposes to in
Quire if in other loans from which
rich commissions were charged Subor-
dinate employees got tips for helping
put the deals through. In the Heinze
loan it was discovered that Sterling
birmingham got fee Of $3.50, for
which after exposure he was dismiss
ed. The grand jury wants to know
how prevalent this clipping" system
extends in the trust companys past
business.
The district attorneys office has
learned that in addition to the so
called man higher up" there must
have been powerful moneyed interests
behind the transactions. 1t has been
admitted by several witnesses that the
$4,000 advanced to Joyce for his Cop
per stock was put up by Leonard j.
Field, Il young curb broker and son of
Jacob Field, Il Stock Exchange broker.
That young Field was willing to ad-
vance the money without receiving
any security for it has puzzled the dis.
trict attorney and has given rise TO the
belief that some one else, with plenty
of means at his disposal, was the real
lender.
Up to date the following men have
been mentioned as connected with the
stock loan puzzle:
f. Augustus Heinze, who admits
that he owned almost all of the Davis
DAILY and Ohio copper stock, valued at
$4,000, placed as collateral in the
Windsor Trust company for loan of
$4,000
NJ. NJ. Joyce, broker of Heinze, who
put UP the collateral with the trust
company.
John Alvin Young, president of the
Windsor, who says it acted merely as
an agent Ia the transaction.
Sterling Birmingham, loan clerk of
the Windsor, who is said to have re-
ceived $3.50 for his services.
w. l., Clark, the broker who orig
innlly approached Joyce with the prop
osition to raise money and introduced
Joyce TO the Windsor Trust people.
Donald l.. Persch, the broker, who
shares office room with Clark.
\. ID. +. Adams, stockbroker, of Bos
ton, who is said to have turned over
100000 shares of stock to Leonard j.
Field
John S. Sherwood, broker, who, act.
ing, he says, as Persch's broker, got
JOyce's collateral Immediately after il
had been left with the Windsor Trust
company.
Leonard j. Field, Jacob Fields SON
who advanced $4,000 with which the
collateral was bought. Fields com.
mission is said to have been $500.
Richard Kaufman, notebroker, who
introduced Sherwood to the Windsor
Trust company, but says he was act
ing simply as clearing agent for the
loan.
Charles KatZ, president of the East
ern Brewing company of Brooklyn, de
scriDcd by some of the witnesses as
principal in the loan made through
Kaufman rs clearing agent.