New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-09-30
FEDERAL RAID ON |.
B. H. SCHEFTELS Co.
Curb Brokers Cheer as Patrol
Wagon Bears Prisoners from
Luxurious Offices.
MOVE IN SIX OTHER CITIES
George Graham Rice, Known as
Backer of Mining Stock Firm.
Escapes Arrest and Is /
Sought by Detectives.

~ EatAOt WcE'hts oeAtHAHS I'D q 0ltO IN
its wake. plOughed a little lane through
the curb brokers in Broad street shortly
after noon yesterday and backed up in
front Of the place Of business of 3. H.
Scheftels & Co. dealers In mining stocks.
simultaneously Postof1ce inspectors and
Central ONCE detectives surrounded
seven prisoners I'm the firms Offices.
No prizefght or football game could
have produced greater excitement The
and the entrances TO all the buildings
around about swelled TO four thousand.
and as the mining experts were helped
into the patrol wagon cheer on cheer
arose. led by the curb brokers Mr.
Scheftels. the president Of the firm. as
he climbed aboard raised his hat from
his gray. respectable looking head in
recognition Of the demonstration
William g. Gallagher. known by his
brother brokers on the curb as Billy"
Gala CHER. so tingled with the excitement
of the occasion as he surged about with
the human sea that he failed 70 detect
the stealthy departure of his watch
Right in the midst Of this frenzied vim
dication Of law and order some one lifted
his timepiece. And when he found that
il was gone he laid about him. using his
long arms like fails. but 10 no purpose.
Were glad 10 see you; you're here at
last" yelled the brokers when the patrol
wagon arrived. Good luck Glad to-
see you going" they replied amid
cheers. to the bow Of President schef-
tells
Similar raids TOOK place at exactly the
same time in Detroit. Providence. Chi
cago. Milwaukee. Philadelphia and Bos-
ton on the branch offices Of the house
And in each city the excitement was in
tense. for the firm was famed the coun-
try over The charge against 1t is con-
spiracy TO use the mails TO defraud-
The Scheftels firm in this city eccu-
PIES the ground floor Of No. ~ Broad
street. The firm name. in raised gilt
letters. stretches across the entire front
# the building the height of story
above the pavement. and with the
Corinthian pillars which decorate the
entrance forms a familiar feature OF the
setting in which is played the city's
financial drama A few doors above is
the New York stock Exchange Building
and directly in front from ~ O'Clock TO
g every day the curb market bellows and
tarks.
Rice There Before Raid.
Only few minutes before the descent
Of the detectives there stood on the steps
of No. a. his well known figure framed
BY the Corinthian pillars. George era
ham Rice. who dropped his real name.
Jacob Simon Herzig. the last time he got
out of jail Rice is the mind OF b r.
SchefteIs & Co. and the man whose ar
rest was most desired
While he stood there a curb broker
entered the offices Of the concern 70 de-
liver some stock and was arrested. The
broker protested. saying he was not con-
nected with the place. and an argument
ensued. which attracted Rice's attention
The broker was released. and when he
came out Rice learned from him what
the trouble was. At the same time he
saw the patrol wagon turning into Broad
street. and quietly he slipped through
the building and OFT a back door into
New street. He had not been arrested
at late hour last night
The detectives learned last night OF a
woman in the case. She IS said 70 be n
friend of George Graham Rice and 20
have been a heavy speculator with the
ScbefteIs. The woman has a fine apart
ment in Central Park West and IL IS
said that Rice rushed 20 her home in an
Immediately after the raid
Detectives were watching the house late
last night. 1t was said the only reason
Rice had not surrendered was the diff-
Guilty of getting bail at night
George NJ Scarborough. special agent
of the Department of Justice. led the
raid Specifically the prisoners are
G harged with cOnspiring 10 defraud Will
lam Fl. Childs. Charles H Slack and
others through the operation OF bucket
shops. Warrants were issued for the
following persons connected With the
firm. George Graham Rice. hacker and
moving spirit: Bernard n. Scheftels.
president: Charles b Stone. secretary;
Charles F. Belsef. cashier; John De-
lanev and Clarence Mccormick. conf
Dental men: Charles ; HerZtg. a
brother Of Rice. mining engineer; George
NJ. HOlbrook. manager Of the Boston
office: Charles a. Sawyer, manager OF
the Providence office; z. L. Mead. man
ager Of the Chicago Office; Benjamin
Scheftels. manager OF the Milwaukee
office: Ralph r. Waterman. manager of
the Detroit office; Charles W. Finnigen.
manager of the Philadelphia office:
William T. Seagraves. president of The
Mining and Financial News: his as
sistant Harry Hedrick. and George r.
sullivan. known as Red Letter Sui
Iivan. a writer of market letters.
All Papers Carried Away.
After the patrol wagon containing the
seven prisoners had LEFT the cheering
throug in Broad street on it's way 10 Po-
lice Headquarters two more patrol wag-
ons appeared 70 sustain the excitement
But these bore away only papers and
documents. all that could be found on
the premises. and the mob. disappointed.
gradually melted
AT Headquarters the prisoners refused
20 give their names and pedigrees. each
answering merely 20 the name or John
Doe. this being the name on the war