The sun. [volume] (New York [N.Y.]) 1916-1920, 1917-11-13
Elmer Dwiggins Sold $780,
900 of Liberty Issue on
Weekly Payments.
ACCOUNTS APPEAR SHORT
Books Of Agency Manager Of
Bankers Life Company Seized
by Government.


Dwiggins. who from his Office, at ls5
Broadway. as manager Of the Liberty
Loan Extension Club. has sold through
stores and to school children about
100000 worth Of Liberty Bonds to
about 5000 persons on the dollar down
seized yesterday by the Post once De-
partment and an apparent shortage Of
o73.000 has been discovered. according
b Assistant United States Attorney
Knox.
Dwiggins is the general agency man.
ager for New York and New Jersey Of
the Bankers Life Company Of Des
Noines. Ia. At noon on Saturday. while
postal inspectors were studying his
books. he left his ONCE. He said he
was only going out for luncheon and
would be back. He has not been seen
since then at the ONCE. at his home,
1oA West Seventieth street. or in stock
brokerage ofhces. where he Is said to
have speculated on losing market.
Many Call for Payments.
All day yesterday men and women
who had bought from him bonds that
were to be delivered when payments
were completed trooped into his suite
In tho City Investing Building. where
only few days ago six young women
clerks were receiving for Dwiggins the
mood OF instalment dollars and punch
ing cards to prove that the holders had
advanced one more notch toward full
ownership OF win the war" securities
Some OF yesterdays visitors wanted
70 pay more money. some wanted de-
livery OF bonds for which trfey had
paid in full. others demanded back the
cash they had already turned In. They
were told by thSebewildered clerks (whu
ALSO were buying Liberty Bonds from
Dwiggins) that DwiEgins was out
and that no further busine ss could be
transacted until Thursday.
Meanwhile Lee J. Wolfe. consulting
aetuary OF the Bankers Life Company
had learned that two officers of the COM
pany were on their way from Des
Moines, and Mr.. Wolfe was telling re-
porters that the company was in no way
Involved in Dwiggins's Liberty bond OPP
erat!ons-~that whatever he had done
WAS as an individual. He took charge
OF the off1ce pending the arrival of his
principals.
Hope OF Dwi6gins's Return.
Two men from the Federal Reserve
Bank, which. says Mr.. Knox. started the
investigation. spent the afternoon In the
ONCE, and Department Of Justice and
Post ONCE men had long talks with Mr.
Wolfe and members Of Dwiggins's stan
Neither the Federal Reserve Bank nor
the Liberty Loan Committee made any
statement. They apparently are hoping
as Is everybody else. that Dwiggins was
merely called out Of town suddenly and
VIII return with satisfactory explana.
uon or whatever seems to be amiss
which would make further investigator.
unnecessary.
Mrs, Dwiggins said last night at hel
home that she could not account for he,
husbapd's absence. She saw him last
on saturday he said nothing about 60
Ing away. and she did not know until
Sunday that he had gone.
Il do not know where he is" sh,
added. HE has not communicated with
me since his departure and / have M
Idea when he will return or when h
will send for me-"
Detective IL in Waiting.
Detective Sergeant Franklin was II
the apartment house questioning Mrs
pwigglns and ready to talk to her hus
band II he appeared.
has had an interesting career as rea
estate and stock broker and insuranc
agent. He became agency manager 10
the Bankers Life Company In Januar
last. For the first Liberty loan he or
eanized the Liberty Loan Extension
Club as a selling scheme designed I
reach small savers through the store
and shops In which they traded and ais
to lead school children in ways OF pa
tr!otlc thrift. He bought $350.000 wort
Of the first bond issue, paying the usua
per cent. down, and sold large par
Of. the securities through the club. TIL
SrS was informed yesterday that
bought at least 100000 worth Of tn
second issue to be distributed in tn
game way. The second payment Of I
per cent. Of the value of the bond
bought in the way Dwiggins bought the:
through the banks-is due on Thur
DAY
Dwgglns has eight insurance solicI
tors He told them, SO one Of the solici
tors said yesterday. to drop all thei
regular work and sell Liberty bond.
and at the same time he entaged elgh
young women as office clerks. Th
solicitors went from store to store wit
bundles Of yellow cards each represent
Ing, after 81 had been paid. member
ship in the Liberty Loan Extension Clul
Many stores Are Canvassed.
Every store on Broadway betwee
Fourteenth sand Seventy-second street
and many elsewhere, were canvasset
md many OF them were glad to place tn
cards on view under a Liberty IIoa
Committee poster. Buy a bond and hel
win The war" The bond buyer paid h
mrs, dollar to the storekeeper. who ser
II to DwIggins, to whom the subsequer
payments were to he taken or mailed
the buyer. The Acker, Merrall & Cor
cit groceries. the Cushman bakeries an
several theatres as well were among II
places that were glad to do this patriot
service without charge. Each card wa
headed:
Save and Have-Benjamin Franklin.
Members Card No.
This card conferr membership upt
=, whose signature appears on the o
h," card In the Liberty Loan Extenslt
'Igb for the purpose OF purchasing 10:
year $50 United States Liberty Loan
per cent coupon bond. subject to Il
ruies set forth on the back OF this car
"hich are accepted and agreed to.
Payments are due each week at u
Bankers I.lfe Ofice. I65 Broadway as
n,cated by the dates and amounts belo
ihe dates given fall on Mondays and pa
business on Saturday noon OF the sar
Continued on Fourth Page.