The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-16
CURB BROKER GONE;
$4,000 STOCK TOO
Charges Made Against Man
Who Made 100000
in Ten Days.
CHECKS SENT BY BUYERS
District Attorney Gets Com
plant on NOn-dclivcry
Of Oil Shares.

Complaint has been made to the Dis
trict Attorneys office In regard to the
failure OF well known curb broker to
deliver to purchasing Stock Exchange
houses more than $4,000 worth OF the
stock OF Standard Oil subsidiary COM
panles. The Stock Exchange houses charge
that they ordered and paid for the stock
and were told that 1; had been bought on
the Broad street curb market. but that
the stock certificates had to be sent West
90 the transfer agency to be broken up
into small lots. They have not yet re-
ceived the stock, they say.
The curb broker has not been seen
since last Thursday and 1t is feared that
he has left town. The case was turned
over to Assistant District Attorney Dick
inson. and II he finds that the facts war
rant criminal prosecution ne will prob
ably take the matter 10 the Grand Jury
this week.
The curb broker ranks as specialist
in Standard Oil stocks. His office is at
20 Broad street -Four years ago the
missing man appeared on the curb and
began buying and selling American Mar
coni shares. He was one OF those who
were enriched by trading in this stock
and for a while his business was so great
that II overworked daily ten clerks. ON
one occasion he said that his profits from
trading in this stock had amounted to
100000 in ten days.
Lately he has not been so prosperous
His offices are smaller than formerly and
his office force has been two clerks and
partner. IL the mans disappearance is
caused by the fact that he is swindler
he was raw as could be about the
method he employed.
On May Is Cornwall. Reed g. Never
OF az Broadway had an order from a
customer for s7,700 worth of Standard
OIL OF California stock. This firm, mem
bers OF the New York Stock Exchange
gave the order to the missing man to
buy this stock on the curb. That night
Cornwall. Reed a Meyer received word
from The missing man that he had bought
the stock for them. They promptly sent
him a check for the S7.7OO. as is Gus
tomary, and waited for the stock to ~
delivered. AS the stock would have 70
be sent out to San Francisco to be trans
Ierred they did not feel uneasy as the
days went by and they failed to get the
delivery.
Then on June : r. L. Watson & Co.
nnother Stock Exchange firm. ordered NJ
teen shares Of South Penn oil from the
same curb broker. They got word that
night that the stock had been bought.
but II was a sixty shares certificate and
would nave TO be sent to Plttsburg to
the transfer office OF the company to be
broken up into fifteen share certificates
T. L. Watson sent the man a check for
1900 In payment OF the stock.
C. Il. Wells * Co. of II Broadway
another Stock Exchange house. ordered
block Of Standard oil stock from the
same man a few days later received
word that IL had been bought, sent a
check and waited for the delivery.
These three firms began to get I'M
easy early last week. They sent word to
the curb broker inquring what had be-
come of the stock They got back word
that the stock had not been received from
the transfer offices.
This was last Wednesday. The next
day the man failed to appear at his office
The sole clerk in charge yesterday said
that he doesn't know anything about the
missing stock nor has he received word
from the missing man. Other curb
brokers complained yesterday that the
missing man had a few shares OF stock
which should have been delivered TO them
and the total amount OF stock which has
not appeared as 1t should have amounts
10 about $4,000.