New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-16
CURB SUSPENDS
MISSING BROKER
L. d. Ketcham Failed to
Deliver Standard Oil
Stocks to Buyers.
LAST SEEN WEEK AGO;
WIFE ALSO DISAPPEARS
Mother, Who Adds to Mystery by
Saying He's Unmarried, Blames
Partner for Trouble.

Leonard d. Ketcham, broker doing
business as l.. d. Ketcham & CO.. III
the Broad Exchange building, 20 Broad
st, was yesterday suspended from the
privileges of membership in the New
York Curb Market Association follow
ing his failure to appear before the
board of managers and show cause
why he should not be punished for al
legged failure to deliver Standard oll
stocks to other brokers for whom ne
said he had bought them, and VINO
sent him checks to pay for the certln-
Gates.
The charges on which the managers
OF the curb acted were previously
called to the attention Of the District
Attorneys Office with a request that
they be laid before the Grand Jury.
The amount involved in the transac-
tions complained OF by T. i. Watson
& Co., Cornwall, Reed & Co. and c. Il.
Welles &; Co., all members of the New
York Stock Exchange, Is about So
600. other instances mentioned IN
Broad ST., but not presented to TIE
curb l.. .nasers for action, tend to snow
the amount involved in Ketcham's
transactions to be much larger.
Ketcham, according to his associates
in the Street, has not been in the findn-
cial district for a fortnight. His
mother, who made her home with him
at 600 West 1929 ST., told Tribune
reporter last night that he was at his
home IN June 7 and that she saw him
on the following day IN Wall st. She
has not seen nor heard from him since,
she said.
incidentally she denied that her son
was married, although other occupants
of the apartment house said his wife
disappeared with trunks and hand lug
gage in =. taxicab called from an up
town garage three weeks ago.
IF there is anything wrong" said
Mrs. Ketcham last night, lit is be-
cause Leonard went into partnership
with a man whose name could not be
put over the door. He'd had some
trouble or other before. When I saw
him he was all played out worrying
about money matters. You see, they
sometimes take too long chances down.
town, and things had gone wrong"
According to the charges made with
the managers of the curb association,
Ketcham. on May IS, received a check
for 400 from Cornwall, Reed & Mayer
to pay for twenty shares Of Standard
Oil of California. At the time the firm
received from him a notice of the pur-
chase and a statement to the erect
that 1t would be necessary to send the
certificate to San Francisco to have the
title of the stock transferred.
Watson & Co. report that they paid
Ketcham check for $4,41O for fifteen
shares of Standard Oil stock on notice
from him that he had executed an or
der for them. In this instance 1t is de-
clared that he gave notice that delay
would follow in delivering, as it would
be necessary to send the larger certifi-
cate of sixty shares he had purchased
to California to be split into smaller
certificates.
Welles & Co. say they paid Ketcham
81. 700 in a similar transaction. All say
they have received neither stock nor
money.
Charles Whitney Chapman, who has
been acting as manager for Ketcham's
office. said yesterday that Ketcham
would return soon and straighten out
everything. He did not know, he said,
where Ketcham had gone.
The scandal is one Of the many that
have developed since Standard Oil Of
New Jersey was split into many parts.
Prior to that time the stock sold
around 5000 a share and was dealt in
infrequently and then only by a few
houses OF large resources and un-
doubted standing. A wave Of specula-
ton followed the shower of certificates
that were issued after the dissolution
decree became effective.