The evening world., 1913-03-19
MUS|CAS CAUGHT;
100000 SEIZED;
ONE 1R|ESSU|C|DE
CONTINUED from First Page.)

alSo President Of the United States Hair
Company 81 the same address. The
Musicas, Il 10 alleged. have carried on
. system Of "waah sales" between them.
selves and oonfsdsrates In London and
Paris through fraudulent invoices and
doctorsd bills of ladins.
An estimate made yesterday by
+. Maxwell sayford. Treasurer Of
che United States Hair Company. who
has lost money through the Musicas'
transa otions. places the losses to local
banks At $4,000.
The total present "ciean up" Of the
Musicas 10 placed at u.ioo.ooo. A. Mr..
eayford said yesterday that 100000 Of
assets Of the United States Hair Com
pany, consisting Of cash and hair. had
vanished.
MUsIcAs CAUSE DISSOLUTION
OF WALL STREET FIRM.
Notice Of the dissolution OF the arm
Of Mitchell q Co.. Of No. - Exchange
place. members Of the New York Stock
Exchange. was posted to-day on the
bulletin board Of the exchange. It II
stated In Wall street that this Arm was
forced to dissolve by the Governing
Committee Of the Stock Exchange or DO
severely disciplined.
Tho part played by the firm in manip-
ulating the stock Of the United States
Hair Company on tho curb market was
the cause of the order Of dissolution.
Antonio Musica and his son Philip were
the founders and chief officials Of the
Iy.t.
d Co. managed the campaign OF manip-
ulation Of United States Hair Company
stock on the outside market.
Mitchell q Co. 10 the successor Of the
arm Of Alexander & Co. The arm
was formed on Feb. q last and con-
sists oe J. N. Mitchell. Thomas b.
McGovern and Frederick B. Alexander.
| Mr.. Alexander 10 the board member Of
| the Arm.
| Frederick b. Alexander 10 the son OF
James w. Alexander. former prs3dent
OF the Equitable Life Assurance 3d.
cissy, II wen known in society. and one
OF the most popular members Of the
Stock Exchange. He ID one OF the
crack lawn tennis players OF this
country.
Manipulation In tho stock OF the
United States Hair Company fret took
place under the direction OF Alexander
q Co. Mr.. Alexander. 1t Is said. was
| out Of the city III when the campaign
| arst started. The arm OF Alexander q
Co. was the predecessor OF the arm Of
Mitchell & Co.
STOCK GOLD UP TO $1o.76. THEN
FELL OFF.
By means of manipulative methods
| this stock sold as high as $lO.7b Del
share on the curb shortly after 1t ap'
reared there. From that price 1t de-
clined TO Sc. Later It declined SO thai
II was offered at IS. with ~ the best
bid. but no sales were reported undeI
IS.
| interests connected with the United
States Hair Company were amazed =
learn that a member Of pool formed
| to handle the securities had turned ovel
his stock to one who promised to mar
ket Il at so per share In violation Of
the pool agreement. 1t was Alexander
A. Co. later Mitchell 4 Co.. that under
took to market the stock.
A demand was made on the pool mem
Der who had released his holdings L
take his stock from the market Unde
threat of court proceedings this MAJ
made a demand ON Alexander h Co. 10
the stock. The Arm was then face 4
!ace with crisis. Money had to b.
raised to satisfy the demands of tn
pool member The Arm OF Alexander
Co. had to dissolve. Thomas B. Nc
, Govern, father-in-law Of J. NJ. Mitchell
came to the front with considerabl
cash. With tho aid Of Mr.. McGoverl
!, the new Arm OF Mitchell Co. wa
sormed to take over the business o
i, | Alexander X Co.
MOBILE. Ala. March l9.-Antonio ant
, ph!l!p Musico We're In Mobile Tuesday
4 'eoaA. eN'cd ry 'Vo women. said 20 D
daughters ot the elder Musica,
o .lunty, bat they IS 'aped In an automo
< bile .rf1t" ,r .,,t uN~a r.rla gcat|
h them From DR,,F they went u I'heo
q dor. whore ,.'.' boarded train 10
!. New orleans