The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-07-11
WIDOWS MONEY AND.
OIL BR0KER.VANIS
- .-... 't It' tgSt e. .a"'
c. Il. Herrick Co.. 18th Floor
=" Of 81 Exchange Place.
Under Inquiry. Sc
SUCKER LISTS ARE FOUND
Advertising Circulars Prom
Used ssee;8ee Return on
. Z. = $500 Inyestment.> a.. :, !,

:, Acting on the complaint of Mrs. Alice
Shsfield, a'wiaow. Twenty-ninth street
ana third avenue, college Point. VINO
visited the ONCE OF District Attorney
.Sgann last week 10 tell how she lost
Sl.625 as the result OF transaction
ifpoMinE the purchase 81 $500 shares
of Big Diamond Oil Refining stock. John
T. Dooling, Assistant District Attorney,
began an investigation into the affairs
OF c. E. Herrick & Co. stock brokerage
nrm at 81 Exchange place. % ~.
lie started by telephoning the ofAce
OF the concern last Thursday afternoon
but failing to get any information that
way. ne later paid visit to the HerriclS
Offices, on the eleventh floor Of, that ad-,
dress, accompanied by Detective' Stanley
German and n process server, none OF
the heads Of the concern was IN the place
at the time, and two employees left In
charge gave up whatever books and
records the assistant prosecutor desired
to take with him. =. ~ D.,
These records, said MIR. Deoling. con
sisted OF a ledger, cash books. advertis-
ing matter and what purported TO be
blotter. His examination OF these, he
declared last night. showed that the
firm made no entries Of any sales. He
had been unable, he added. to locate
any check book which might aid in
showing how disbursements were made
BY the concern.
While he has been conducting his ex-
animation of the FIRMS records and look
ing into further complaints. Mr.. Dooiing
said ne made efforts to get its heads De-
fore him, but until yesterday he had
been able to interview for a brief space
but one Of four men he is anxious TO
question regarding its recent activities
This man. Frank Holiday. ~ years
old. who, according to Doolirg. served
a two year term In the Federal peni-
Tertiary several years ago following his
conviction in ST. Paul on a charge OF
using the mails to defraud, came to his
Office voluntarily yesterday and gave
lust an inkling OF information concern
ing his connection with the brokerage
Arm. Holiday said he had been re-
ceiying 800 a week to prepare the liter
aturc sent out to prospective customers
witness Disappears.
He said he had resigned June % be-
cause he has found II increasingly oh-
fcult to get results in his line OF en-
deavor since the District Attornsy, os
his activities against stock brokers, mas
taken the heart out of most of the spec
Mating public. Promising to tell much
more about the brokers who are under
inquiry, Holiday asked to be excused 1~
I'll after he had lunched. He also de-
sired, he said, to step out and get GER
tain papers which would establish MIG
responsibility. Mr.. Dooling was sui
awaiting his return at late hour, yes
terday evening.
The others sought by Dooling are
Oh "A
De Witt Bl,im, treasurer, and FreQeyNk
NJ. Griesheimer. the former husbands2 81
Lillian Lorraine, the actress. Herrick.
according to Dooling. Is merely the
dummy" head Of the concern. while
Blum and Grieshelmer are the real d.
rectors.
Mr.. Dooling said employees OF Her
rick & Co. told him that most OF the
money taken In by the concern went into
the private bank account Of Blum, and
that sometimes 1t was drawn to the
order of one OF the clerks on whose in
dorsement II was then deposited to the
account at Blum's bank. These en-
ployees were unable to tell how II was
that no records OF sales or other trans
actions were kept by the firm.
The Big Diamond OIL Refining Com
pany. whose stock was made the sub
ject OF the alluring advertisements anc
folders turned out by Holiday, aI>-
pears, from what Mr.. Dooling has thus
far been able TO learn. to be Della
ware corporation. capitalized at $4,000,
900. supposed TO have property in the
Burke Burnett fields In Texas. TIL,
circulars and letters make much of q
man named Bradstreet. who, as chair
man of the Big Diamond board of di
rectors, Is by inference associated with
the Bradstreet Familiarity known through
out the commercial world. Mr.. Doolinl
says that his Information Is that THU
Bradstreet OF the Big Diamond oil con
pection used to be a mechanic in a clocl
factory In Connecticut. Prospective In
vestors are informed through the ad
vertising circulars that $500 can easily
be made to grow into 100000"
Mr.. Dooling says that according to al
Indications more than $4,000 has beer
lost by customers OF Herrick & Co
The visible assets. so far as he hal
been able to find out, he added. are hal
q dozen sucker" lists.