The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-07-31
maze law SUITS
T,0F0LL0WA ARREST &
81 u
Russo Chinese Bank Will At
tempt to, Recover Stolen
Securities.
PRISONER TELLS sTo.R Y
PRISONER TELLS STORY
Explains Why He Embezzled
Money With Which to Play
Stock Market.

New York, July 30.--A maze of law
suits will follow the arrest OF Erwin
Wider, the cashier of the New York
agency of the Russo-Chinese Bank,
who confessed to stealing securities
valued at S6sO.ooO.
The suits are to be brought by the
bank against the various brokerage
houses, through which Wider traded,
for the recovery of the missing stocks
and bonds.
The announcement OF the legal plans
of the bank was made to-day by julius
Goldman. its attorney.
Mr. Goldman asserts that the owner
of the stolen stock can force the re-
turn of such property as If 1t were a
stolen horse or any other kind of
chattel. He would not mention the
names Of any brokers, but it is under
stood that the bulk of the litigation
will be directed against Dick Brothers,
where Wider's operations are said to
have amounted to more than S1,O00,-
600. Other brokers who have stated
that Wider was their customer, are
~. S. Bache & Co., and Josephai
Loucheim & Co.
In the Tombs to-day Wider said
that he had not made any authorized
statement concerning his robbery, nor
did he intend to say anything until he
Is arraigned on Monday for pleading
In general sessions.
To the messenger who carried him q
note asking II he would plead guilty,
he said: "Wnat do they want to max g
me say next?
Throughout the night after his ar
rest. and all through to-day Wider
acted as If on the verge Of nervous
prostration. He told the attendants
that he could not sleep or eat. He has
taken practically no food since he
arrived at the Tombs and the officials
believe that he is attempting to starve
himself to DEATH
His Pay Too Small.
In a statement, Wider said: INV
pay at the bank was so small could
not live and --eep my family In the
way my friends kept theirs. kept
thinking about the way money was
made In stocks. heard how easy it
was and that. any one could get in
there and speculate successfully The
risk, I was told, was nothing.
II talked the situation over care
fully with men who told me- they
knew all about stocks and specula-
ton: men who read the market Then
i decided to take chance. 1t looked
SO easy that L tried 1t.
But never had a chance. 1t was
always, always. messages from the
brokers for more margins--more mar
gins. They seemed insatiable.'
Leon B. Ginsberg, Wider's attorney.
intimated for the first time to-day
that there was man higher up in the
case. He said that he did not think
that his client engineer his Wall
Street deals entirely on his own
He would not say. however.
who might have been behind his cll-
ent's plunges.
II cannot say now whether Wider
will plead guilty" he said. "He hesi-
tates about offering plea of guilty.
which we,had arranged for"
Wider Is charged specifically with
the larceny Of 100 shares Of Baltimore
and Ohio. II he pleads guilty. as a
first offense he can be sentenced TO.
not less than Ave nor more than ten
years. If he goes to trial on the pres
ent Indictment. and others that are
likely to be obtained at the direction
of the district attorney, much more
severe punishment may result.