The sun., 1919-08-22
FOUR BROKERS
IN COURT ON OIL
STOCK CHARGES
Calvin and Associates Held
in Bail for Pleading
Tomorrow.
CONSPIRACY ALLEGED
Grand Larceny and False
Representations Covered
in Indictments.
DOOLING ACTIONS SCORED
Attorney for Accused Says
Clients Had No Chance Be-
fore Grand Jury.
DOOLING ACTIONS SCORED

Charles w. Calvin. president of c.
W. Calvin & Co., stock brokers at 90
Broad street, and three other persons
connected with this company. were ar
raigned yesterday in General Sessions
before Judge Mcintyre on indictments
charging all four with conspiracy,
grand larceny and stock selling on
false representations. Indicted with
Calvin were Irwin Bloom, secretary
and business partner in the firm:
Robert f. Bloom, one of it's statesmen,
and Leroy Smith. formerly sales
man for the company. Calvin was
he'd in $4,000 bail for pleading to-
morrow, and Smith. Irwin and Robert
Bloom were held in $4,000 each.
The indictments resulted from an In
yestigation by Assistant District Attor-
ney John T. Dooling into the activities
Of the establishment of c. w. Calvin &
Co. in connection with the promotion and
sale last June of the stock of the Tex
York Producing Company, described to
customers as a Texas corporation with a
capital of s3,OoO,O 900, issued, fully paid
and worcestershire, and said to own val
liable leases of oil lands in Texas, with
wells, some of which yielded upward OF
$50 Barrels a day. bringing in a daily
revenue of at least $3.50.
The Tex-York Producing Company, it
also was claimed in the representations
made by c. w. Calvin & Co.. had a large
surplus derived from these daily pro-
duction revenues. and that a dividend
had been declared payable on July /.
Brooklyn Doctor Started Probe,
The specific complaint was made June
f6 by DR.. Johannes Meyer of 203S Full
ton street. Brooklyn. who charged that
he had purchased 500 worth OF the stock
Of the Tex-York Producing Company
from salesman for c. w. Calvin & Co,
and that subsequently when he demanded
a transfer Of his investment to some
other stock or the return of his money
he was told that the firm did not owe him
anything.
DR. Meyers difficulty, II was explained
al the time to Mr.. Dooling by Irwin
Bloom. was due to an error. Mr.. Doc
ling. however, presented the case against
Calvin aud his associates 10 the Grand
Jury, as ne had received a number OF
complaints from other customers, some
Of whom purchased on the ten or twenty
payment plan. and had ground for belief
that thousands OF dollars were obtained
from customers in and around New
York for the purchase of Tex-York stock
outright.
Calvin. R f. Bloom. Cecil c. Shear
and Robert d. Kircheval, the latter two
from Waco, Tex. had conspired. IL is
charged. to exploit the Tex-York Pro-
ducing Company and to sell this com
pany's stock on false representations
contained in circulars and published in
newspaper advertisements in an adver-
tising campaign upon which $40, 900 was
expended. More than 10000 shares of
the stock were sold as a result, II is
alleged. but not one dollar OF the pro-
ceeds of the sale of such stock had
been forwarded to the Tex-York Pro-
ducing Company or to any of its officers
or representatives.
Attorney Criticises DOoIinE.
Nathan d. Perlman of Kopp & PERL
man. attorneys for c. w Calvin & Co.,
lug the arraignment of the accused in
which he criticises Mr.. Dooling for hav-
I ing dealt lightly in a matter where four
mems reputation and liberty were con-
cerned
Mr.. Perlman said that the firm of
&. W. Calvin & Co. has evidence, docu-
mentary and otherwise. absolving II of
any wrongdoing in connection with the
promotion Of Tex-York stock. which he
orered to present to Mr.. Dooling late in
June, He also hac informed Mr.. Doolng,
he said. that Mr.. Calvin and Mr.. Bloom
were willing to waive immunity and ap-
pear before the Grand Jury to explain
lneir part in the matter. But Mr.
Dooing, 'ln characteristic Dooling IA sh-
ION declared Mr.. Perlman. kept Messrs.
calvin and Bloom waiting for days in
'he outer hall of the Grand Jury room.
and finally last Friday, when Mr.. Calvin
was allied before tile Grand Jurors, he
vas called upon merely to answer a few
peNunctory questions
DIR. Calvin had not been given an
opportunity to complete his testimony
hof mad Mr.. Bloom been called at all,
Sa'd Mr. Perlman. when the indictments