New-York tribune., 1911-10-25
BROKER DECLINES TRIAL
1T. Reinhardt, of Curb, Refuses
to Answer Charges.
cRITICISEs BOARDS DELAY
Saws Action Should Have Been
Taken Against Others VINO
Failed to Pay Him Money.

.r,or,as Reinhardt. one o. the largest
,,,rh brokers, has declined TO appear oeloie
,ne BOARD Of representatives OF the Ne"
vort curb Market Association TO answer
-h,~oas filed against him by Johh v
80 another broker. Reinhardt bases
- -of,,sal t,pon the fact that Dunno AMI
.,h.- brokers had been found by the noaro
- o,ce him sums OF money. these oohs1-
- a.sine from transactions IN the STOCK
- Porc,lpine Central MininG COMPANY
,be market management OF Which
p.irbardt's hands, but that nci'heF Duii'',
- any except one OF the others hsu Pa'u
- although continuing in business on u'e
Rdnhardt in his letter 20 the nod''
said lr part:
torl5 NOT have the shShtes; obJecuo.
- ,r,inC out the matter before SoH' s,,,i,
ou have already found DuIhe ~ "a, e,.,,osr,
- takcn no action 10 compel Hls P@S - "a
ara lNh'Vi,,o,, lNhV,' urbicb ne owes me, forcing
~ institute suit against nm, anu - ie
sra any further hearing pelVI ,al,e,
t,,rl 20 D.. "a farce until you '-" ~,
~. stems TO discipline the oIOht ,,,st
somt S,rco I'm the mean time mus.
CCsJ,-C ro attend any hearing oI
- ..iCence 10 your cphlHittts, s- action
,ft.- waiting nearly a nlontH AO. - brine
49, a., Z had no choice LETT oEt % 49, ~
Oy .o~-.;,,et tbeso defaulung brokers, M.nCi t.,
sut. st,-e 5onc An each instance. hrs.
t,~ the consent oi NoLL ,i% Ca bo no con.
n+-reter m SO that there should oe 'o
So or ~ ~ ,,7er3ber of your association
.,-,if IN good fGitn Claims dsat'is "a these
rrops~ed 70 abide by lts ue,l,o.,,stio,, are
frokers. members or tHe aS,,,Ioct mt ic-
,.1 s,,ilt- OF breach OF CoHlIaNI 80 -
Iv-.iN - Committees rulings. t seems
- oot impossible that my losseS -. tai,7
Srorr the failure OF the C0lilun ~ .ourt tC
.o,jcn NAV be transferred ~ VI. llI..,,.i',
a +. -, ,,bers OF the committee persondH''
.r,. Porcupine Central Mining COMPANY
-...,, vras offered Tor public subscription
s.. rs;,bardt early IN the year al ~ cents
-. srd IN September suddenly al
...,o.d rro-, around % cents To - snare
~, ,bis advance several curb oroKers were
-. srort II the stock and refused 70
-. +,sir short contracts by purchasiis
49,. ..oct ar greatly advanced hgures' thelI
.,,..-s,io,, neirg that the rise in price rep
,.sor.ed the manipulation Of corner
-, matter was taken 10 the Curb Asso-
-ta.,o,.s hoard. which decided that the uroH-
80 .o-,rlained Of must make good their
o,c,+rsc+s Only one Of them ooeyed thls
direction The others obtained an I'JunV
t.or restraining the association from post
inc their names on the official olachOoaI u
The hoard. through the secretary. FRANK
a. rsorsrd, ir. replied promptly Yester-
dsv 70 Mr.. Relnhardt, who was Informed
,bat whatever delay might have occurred
,r n,ssing upon the disputes between MIN
"a The alleged debtors was due 10 tenn
,orarv restraining order Of the issuance OF
zi-ich the board had advised him month
AGO vr L,eonard's letter also denied that
Dvnne had dehed the authority Of the asso-
c,ation and disobeyed and louted any ORDER
Of the board on the contrary, he had SAID
that he would pay the Reinhardt claim II
the board should find against him after
tearing. and he remained in good standing
as long as no action was taken against him
ty the board. The letter continues:
You are also fully aware that Nr. Dunno
Claims 10 have good defence IN that YOU
failed 10 buy in Immediately upon the de-
fault but waited two days. during whicn
time the stock had a sudden advance lI
p.lce and thereUpon failed 10 buy IN tor
.eash. I'm accordance with the rules and GUS
t'ws
ar Dunno had presented Information re-
,stfnr 10 Porcupine Central the secretary
further wrote. and the board had twice
asked the officers Of the company 10 fur
r,isb information. Reinherdt's complaint
-ba, he was now forced 70 bring action
against the several brokers named by him
T. without merit. the secretary informs
him as he Drought suit against one OF
these men more than four weeks ago. and
could have proceeded against the others al
she same tirna