The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-06-27
INVESTOR REFUSED :
STOCK CERTIFICATE
Assistant District Attorney
Pursues Investigation Of
C. w. Calvin Affairs.
PAPERS ARE DEMANDED
Secretary Of Company Says o
Mistake Was Made in Deny
ing Transaction.

John T. Dooling. Assistant District At
torney. was busy yesterday pursuing
his investigat into questionable stock
deals in the financial district. He began
by presenting to the Grand Jury evil
dence In connection with the $4,000. ooc
failure Of H. C. Lour q Co., stock
brokers, who are said to hav. hypothe-
Gated securities and cash belonging 10
their alleged victims, and ended up with
a quest into the affairs OF C. w. Calvin
& Co., Inc, a Delaware corporation. OF
so Broad street
Acting under Mr.. Dooling's instruc-
tons Detective John Cunniff visited the
Offices Of Calvin a Co.. which are on the
same floor at so Broad street as tbs es-
tabllshment OF Loup q Co., AMI returned
to the District Attorneys once with
some personal papers. including mem
oranda and stock certificates. He took
back with him Irwin Bloom. secretary
Of tho company who was interrogated
by Mr.. Dooling concerning its operations.
The prosecutor was much Interested
because of a complaint lodged against
the brokerage concern by DR.. Johannes
Meyer Of 2o3s Fulton street, Brooklyn,
who was present in Mr.. Dooling's Office
when Bloom was brought in. DR.. Meyer
in relating his experience with Calvin d
Co. said ii had been his first vaccination,
which, he was willing to acknowledge,
had taken"
Was Suspicious OF stock.
DR.. Meyer said he had opened an ac-
count with the firm June and on the
tip Of a friend had arranged with 8. ].
Smith. one OF Its statesmen. to purchase
100 shares OF stock In the Tex-Hork
Producing Company. a Texas corpora
ton capitalized at $4,000. 900. which he
had been told would yield substantial
returns. He said he paid $40 In cash
and put up $50 in Thrift Stamps and q
Liberty bond In lieu of the balance, and
was given a receipt for 500, which Is
now in the possession Of the District
Attorney.
The next day hs took UP his cola
teral securities by paying $50 In cash,
and was told TO return in a few days for
his stock certificates. According to his
statement to the District Attorney he
had become suspicious OF the stock and
when he called again at the Office Of the
concern DR.. Meyer said he told Mr..
Smith he wanted either to close his ac-
count or have his investment applied to
some other stock, preferably silver. Mr..
Smith. he said, and the secretary OF the
concern not only declined to do this for
him but denied they had ever had any
transaction with him and refused to give
him the certificate of stock in the Tex
York proposition which he demanded.
Mr.. Bloom, when questioned by Mr..
Dooling. said the salesman must have
made a mistake. as he had no idea how
the incident could have occurred other
wise. Though there was no record In
the books OF the transaction he admitted
that Mr.. Smith had subsequently in
formed him that the 800 had been re-
celved from DR.. Meyer. He sought 70
explain the matter through the Gus
TONER'S failure to produce his receipt
when his demand for the money was
made.
Mr.. Blooms explanation, However.
failed 10 satisfy Mr.. Dooling. who then
sought to get some light concerning the
Tcx-York Producing Company. Mr..
Bloom described this as a going" oil
concern, getting $50 barrels OF oil a
day. He said 1t had at its head Guest
Whitaker OF Waco, Tex. a member of
W. Schmidt & Co. doing a business in
cotton, also. in Waco. He added that
Andrew Colvin. another member OF the
Waco cotton firm, had charge OF the
drilling operations for the oil company
According to Mr.. Bloom the Tex.
York Producing Company has issued
5000, 900 shares OF stock at 81 a share
or these shares Calvin Co. were given
$4,000 shares gratis for promotion pur.
poses with an option on the remainder
at prices ranging from 30 TO so cent:
| share.
While It appears that Calvin & Co
have right along been accepting mar.
ginal accounts, mostly In the Tex-YorI
proposition. Il was shown through ar
examination of check stubs that since
June IL only one check had been ISSUED
| for the purchase OF stock.
Agreement TO Hold stock.
With the market being worked up or
the Tex-York stock holders Of the GER
| tlhcates who made their purchase,
| through Calvin & Co by the termi
agreed upon cannot dispose of theil
| stock until after July 81.
Detective Cunnfr, on instructions from
| Mr.. Dooling, made another visit to the
| ONCE OF the concern TO get securities fol
investments which Bloom said could bt
| found there. Mr.. Doollng said, after
the detective had returned. that these