Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-12-12
II S. DRAGNET SET
IN HUGE SWINDLE
Bachman and Hayden
Sought in Alleged
$2,5O0,00O Fraud
ARRESTS EXPECTED SOON

A Federal dragnet has been spread
bro4dcans In Philadelphia and other eastern
eltIes for the four high fnancisrs' wanted
IL connection with the three alleged
swindlas. one OF which Is said 70 have In
voived t7,sOo,ooo. exposed in this city by
United statss postal inspectors
Two arrests at least are predicted by
0afcrnnent officials for today
Portal inspectors are especially anxious
10 apprehend CiawHon Baohman, OF 500 East
yohnHon street. and Joseph I. Hayden OF
6zb Locust avenue, Germantown. Both
have been Indicted In connection with the
aileged s2,b00.0O0 International Gas and
Electric Company fraud. and are said to
have been the 'master.nlnds' OF the
scheme, (which took such heavy toll
among Widows school teachers, oiergymen,
farmers and others throughout the city and
state" Amos II. Nissley, OF Stcelton, also
is wanted.
a. 1tiwood Lancaster, OF 2ii7 North
Thirteenth street, wanted In connection
with the alleged 100000 realty swindle,
haa not yet been taken into custody. His
two sons were arrested yesterday. Al
three have been indicted by tho Federal
Grand Jury for their operations which,
postal inspectors say, were fraudulent
BAcHMAN IN NEW York
pachnan In known 20 be In New York.
poMai Inspector Frank Wilbur Smith, who
Investigated and unearthed tho alleged To-
tcrnntionaI Gas and Electric Company
ewfndle, left this city hurr.edly last night,
hIa destination unknown II was rumored
that no had gone 10 New York to arrest
Bachman or to Steelton TO take Nissley
into custody.
rsx-conEressman j. Washington LoEue,
counsel for Hayden, did not produce his
client. as promised, today. Instead. hr.
FwaNN - NAN
trict Court before Judge Thompson, and
pleaded for q reduction OF ball for his
client.
Tho ball for BachmAn already has been
fixed nt $4,000 on the advice OF United
States Attorney Francis Fisher Kane.
That OF Hayden had been fixed at $4,000.
II wish to plead for n reduction OF this
$4,000 bail for my client" Mr. Logue said
IN court. mfr. Hayden is a married man
with seven children. He will not run away
and cannot very we'll leave tho city.
BAIL REDUCED
II can promise to produce him tomor-
row In fact. / would have him here to-
dny. but no had gone South on two
weets' business trip and decided to re-
turn at once to Philadelphia as soon aH he
learned that n warrant had been issued
for hts arrest"
Mr. Kane said that the Government was
willing to have Hayden's bail reduced and
Judge Thompson fixed It at $1,000.
Chief Postal inspector James r. CorteI-
you said today that IL would be useless
for the MEN TO try TO escape They nro
well known" he said. and they con easily
be apprehended. II may take few days,
Hut we can get them befors long"
Inspector Smith said that investigation
showed that both Bachman and Hayden
had been Identified with stock Jobbing
schemeB In this city for the last eight
years.
Mr. Smith called attention TO tho fact
that after BhchmRn had formed tho banking
firm Of Bnehman 4 Co. TO assist In floating
the stock, they took advantage OF the sim
llnrlty of names with their firm with III. r.
Bachman & Co. of 1919 Chestnut street
Tho II. r. Bachman a Co. n most repu-
tAbld firm, Mr. Smith said. was frequently
mistaken for the firm OF Bnchmnn a. Co.
and Became 80 annoyed tnat II issued public
notice that II had no connection whatever
With the Bachman- Hayden concern.
Postal inspectors term the alleged s3,-
500, 900 International Gas swindle mar
vel OF frenzied finance" According 20 Fed
eral officials, the alleged swindlers roped
IN many OF the international Lumber and
Development Company victims by telling
them that by buying the international Gas
md Electric stock they would have IA
chance to recoup their losses.
Many OF tho supposed victims OF the al
legged International Gas swlnde are known
70 tho Federal authorities. United states
Attorney Kane has Issued an appeal to
other supposed victims TO communicate
with him or with Postal Inspector Frank
Wilbur Smith In order to give information
which. he said. win hold In the Governments
prosecution OF the men.