New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-06-08
COURT HOLDS BURKE ON
ALLAN RYAN'S COMPLAINT
Son of FinanCier Takes New
Role in Action for Account
ing of SaportaS Estate.
SAYS PRISONER CONFESSED
Lawyers Assert Many Checks
on Trust Fund Are OutlaWed
and Base Present Action
on One for $4,000.

Walter A. Burke. a real estate operator
was held in $4,000 bail by Magistrate
Harris in the Tombs police court yester-
DAY for further examination next Wednes-
dav upon a warrant charging him Will
misappropriating $4,000 Of a fund Of
which he was the trustee for his niece
Mrs Regina b. Saportas. The complaint
against Burke was sworn to by Allan y
Ryan. son Of Thomas r Ryan.
The trust fund has caused trouble be
fore. In February. 1872 Mrs. saporta'
brought suit against the brokerage firm
o. Allan a Ryan & Brother TO recover
$4,000 That amount. she alleged out
Of trust fund Of 100000 left her by her
mother. Matilda b Brown. had been &C
cepted by the Ryan firm in stock deals
although the fact that Burke had signed
the checks as executor should have beer
SUFFICIENT warning that the money vas
not his own
The matter was brought TO the Distric
Attorney some time ago. and upon the
advice Of Charles +. ColliGan and Loui'
Beier. assistant district attorneys. an ap'
plication was made for a warrant. Many
drew on the trust fund for his ventures
IN Wall Street are outlawed by the statute
Of limitations. and a single check To-
$40. 900 is made the basis Of the complaint
In the affidavit made by Mr.. Ryan II Is
said that Burke had two accounts WIN
the brokerage house. one designated wal
ter A. Burke and the other ". A Burke
Special. The accounts ran from June
1871 10 January. 1910 II is alleged tha'
during that time Burke speculated IN
stocks and transferred to the firm checks
and securities amounting to $751;" Inc
checks. il is alleged. were signed. Estate
of Matilda B. Brown, Walter A. Burke
executor
Mr.. RYAN further says in his affidavit
that Burke called upon him last OCTOBER
at his home in Suffern. n. Y. and thai
he then showed TO Burke letter from
David Mcclure, an attorney representing
Mrs. Saportas. In the letter Mr. Mcclure
said that the accounting rendered by
Burke Of the trust fund left in his hands
was not satisfactory to his client, Mrs
Saportas, and that she intended to take
steps TO recover her property. The let
ter also said that Mrs. Saportas believed
that the money had been used by Burke
in speculation.
Mr.. Ryans affidavit goes on to say
that when Burke had seen the letter he
admitted that he had been dipping into
the funds Of the estate and said that h'
faced disgrace and ruin because Of hi:
acts
Mrs Matilda b Brown, Burke's sister
died in June, 1901. BY her will $4,000
was left in trust for her daughter Mrs
Regina B. Saportas. Burke was made
trustee For ten years Mrs. Saportas was
20 have the interest on the fund and a.
the expiration of that time she was &c
have the principal.
II is alleged that in June, 1903, Burke
fled an account of his trusteeship witt
the County Clerk. but that since ina
time no accounting had been rendered
until June go 1911. when the principa
reverted TO Mrs. Saportas. The discovery
that the principal was not intact was
made by David Mcclure. attorney fol
Mrs Saportas, 10 whom she applied wher
she met with delays and excuses.
Burke was arrested yesterday morning
by Detective Griffin as he was leaving
his home at No. 725 Park avenue. Hi:
office is at No. Is Washington street