The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-22
.. S. SEXES 2 MORE
GERMAN COMPANIES
81, 100000 Corporation and
S2,8O0,O00 Insurance Con.
Germ Rounded Up by Palmer.
STOCK JUGGLING Barred
Alien Property Custodian An.
points Directors to Conduct
Both Enterprises.

Two more German owned compsn,,
were taken over yesterday by A. Mltch.p
Palmer. Alien Property Custodian
They are oerstendorfer Bros. 81.
100000 corporation manufacture,
bronze paints. varnishes and enan.ls
and the Hamburg Assurance COMPANY
organised In Germany In 1897 with ,
capitalization OF $4,000 900.
Investigation by Francis p Garvsa
for Mr.. Palmer. showed that 90 per
cent. OF the stock OF Gerstendorf.-
Bros. who have off,ces at ssl Fan
Forty-second street. belong to enemis,
Mr.. Palmer's statement says:
THE concern originally reported an
enemy ownership Of 80 per cent Of
It's stock. When the Alien ploperty
Custodian sought to appoint dIrector
TO represent this stock the corporation,
counsel. Julius J. Frank, put every o.
stacle In his way. He awaited himself
OF every technicality and so exhausted
the patience OF the Alien Property Gus.
tcdian that he turned the concern owe,
to Mr.. Garvan for Investigation"
Mr. Garvan found that on February
/. 1917, three days before Amoassado,
Won Bernstorf got his passports. 1900
OF the 1.3<9 shares OF common stock
owned by Albert Gerstendorfer, nov
In Germany. were transferred TO e..
nest c. Echart. brother OF Edmund Ech.
art, president Of the corporation o.
sho same day Ernest Echart surren.
dered the certificate Endorsed In blank
Two new certificates we're issued 10
It's place. one for 1900 shares 10 Cd.
mund Echart and the other for lor
shares to John Raabe. secretary o.
the corporation Thus II was mad.
to appear that Edmund Echart, who 10,
nephew Of Albert Gerstendorfer. owne
1.4o9 shares Of the common stock
which. with the shares held by Other
Americans resident, would make 1850?
shares, or 102 shares more than a major.
ity.
The Allen Property Custodian has o..
pointed these directors to represent him
in Gerstendorfer Bros Joseph H. Choa.
Antoine Bournonville of Philadelphia,
Jackson K. Reynolds. first vice presidsn'
OF the First National Bank. and MORT.
mer NJ. Buckner OF the New York Trur
Company. william NJ. Clark, So william
street. has been named as counsel and
Aaron J. Colnon as assistant counsel
The Hamburg Assurance Company BE-
gan business in this country In March
tShf' III lSlO llS ulCuWe IT.
the United States was s4,6040O0. Il
owns all the stock OF the international
Insurance Company Of New York, whca
al o has been taken over by Mr.. Palmer
The international Is capitalized 81
only 100000. but In 1917 It's premium
income was s7.sss.413. For It NJ
Palmer has named these directors: John
Anderson. William II. English. Frederick
J. Horne. Morgan NJ Mann. Albert E
Marlins. James W. McCullach, Harrison
Nesbit. william G. Wilcox. Sumner Bal
lard and Fritz Kortenbeutel. all OF New
York. and Alfred H. Townley OF Pitts
burg.
Mr.. Ballard was president OF the com
pany and Mr.. Kortenbeutel secretary
The affairs OF tho Hamburg company
have been fully Equidated and {5oO,0M
Of new assets remaining have been taken
over by Mr.. Palmer.