New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-04-03

ir a ,,irect line from the Haight & Freese
Companv. which the receiver of that com
panv described as THE largest bucket-shop
swindling concern in the country. &C
cording TO counsel FOR the receiver, the re-
ceipts of IT'S Offices were as high as SOo,Wo
a day The Haight & Freese Company, OF
which George C.. Turner. who is among
those indicted with Preusser in the Boggs
case. was secretary as far back as the
summer of 1903 and of which William ii.
Iillis also one of those indicted in the
Boggs case. was vice-president when il was
placed in the hands OF receivers in May.
1905 paid dividends aggregating a per cent
TO its creditors.
On August TO- 1906 a raid was made on
four offices in this city of John A Board
man e Co, whose principal office was in
Philadelphia, and who had branches in
various cities. Their chief Office here was
at No 90 Broadway. which had been the
address of the Haisht & Freese Company.
There George n. Turner and William III.
Lillis were placed under arrest on the
charge OF being the chief managers Of the
concern. On November IL 1905. the Board
man firm made an assignment. and re-
ceiyer later was appointed who estimated
that the assets would not exceed $4,000
against liabilities of between $4,000 and
500, 600 The firm was n member Of tie
Consolidated Stock Exchange of Philadel-
phia. which In 1905 had been ordered to
vacate its quarters iii the Philadelphia
Bourse a a result of developments follow
Ing the collapse of the Storey Cotton Com
paDy.
Turner and his associates in the Haight
6 F'reese and Boardman concerns were
I'll -. l. ~,.,pv
but always escaped conviction by being
able to show that the transactions on
their books had a corresponding transac-
ton on the Philadelphia Consolidated
Stock Exchange. which was organized by
Turner and is practically controlled by
him
The authorities OF both the New York
and Consolidated stock exchanges en-
ployed detectives TO try to get evidence
that Boggs & Co, Turner's latest firm.
was furnishing the Philadelphia exchange
with official Stock Exchange quotations,
which they were suspected of getting
through a Consolidated house that has of
fees near the Boggs firm, but they were
unsuccessful The incorporation papers of
Boggs & Co. were drawn up by prominent
lawyers Of this city, and the Stock Ilx-
they could do nothing against them.
Boggs & Co. have been going along quietly
ever since, most of their business being
done through their out-of-toWn branches.
The firm is said TO have made a lot or
money in the February slump in the stock
market They are understood TO have had
12S 600 bull accounts at that time that were
wiped out and il is estimated that the firm
made about 81 10000 out Of the transac-
tons
The concern known as the Standard
Stock and Grain Dealers was raided by
the Jersey City police in January of this
year on Il disorderly house warrant and
Edward Altemus, described as the man
ager. was among the thirty-five men ar
rested. and he was found guilty. The place
had previously been raded in October,
1905
Preusser who has been indicted for
alleged connection with F.. S. Boggs & Co.,
was three years ago connected with Jer-
sey City enterprise OF the same sort as the
Standard Stock and Grain Dealers. which
had its offices just across the street from
the latter's headquarters. A raid was made
by the police of Jersey City on January 30
1907. on the offices of this concern. the
Manhattan Stock and Grain Dealers Com
pany, and papers were found showing that
of the capital stock of $4,000 Timothy d.
Sullivan and Timothy 2. Sullivan each held
1880 and Eugene D. Wood. Leo Mayer
Samuel Mayer and James Pickens each
$4,000.
Richard E. Preusser. who had been re-
leased from the Matteawan asylum four
months previously. was named as manager
at a salary and 10 per cent of the profits
raid was made several months ago
upon the Celia Commission Company, with
offices in the same building with the Stand
ard Stock and Grain Dealers.
Price e. Co, the Baltimore firm, is man.
aged by Edward Weldon. The latter is in
the same class with Turner He was for
merly q partner of f. Z. Smathers. tho
turfman. and has teen identified with
in trouble ne and his associates would
form another. the same as Turner and his
associates did here. Price & co. are the
successors OF a number of sUcn concerns.
one of them was a. +. Baxter < Co. for
merly at No. 81 Broadway. who failed i'll
January. 1904. with liabilities of about $500
600 A few years later they paid their
creditors in full. Baxter & co. had sue
reeded 20 the business OF +. l.. SmatheTS
who after the failure offered 70 assume 10
per cent of the loss, he bad recon-
mended his customers to the BaXteTS. BaN-
ter & Co also took over a large part OF the
business of Murphy Co, who had large
string of bucket shops all over the South