Every evening, Wilmington daily commercial., 1920-05-18
ARNSTE|N KEPT POLICE
GUESSING THREE MONTHS
Man Accused in $4,000, 900 Bond
Theft Lived Like Nabob
in New York.
nv Associated Press to Every Evening

BY Associated Press 10 Every ENehihS
New York, May lS-Jules ".
(sNicky"l Arnstein, long sought by
the police of two continents prior 10
his surrender on Saturday, as the alleged
head of n band of swindlers who, by con-
nivance with bank and brokerage mes
sengers. are said to have stolen from ST.
500 600 to 81. 900. 600 in bonds and other
securities from Wall Street firms, is the hus-
hand of Fannie Brice, an actress, whom he
married in 1917. He disappeared from
New York, where he maintained two
lavishly appointed apartments besides a
country home at Huntington, l., l., on
February II, last, since which he had
ieen reported IN various parts OF the
country OF on the eve of "surrenderlng
to the authorities.
Arnstein is the son of a New York
business man and is az years old. ne
police sav he is as well known III France
and England as in the United States.
Circulars offering reward for his arrest
said he 'frequented high-class hotels ana
gambling places" He is tiashy dresser
Once, when arraigned IN court, he appear
ed In blue serge suit, polka dot hech'ic
and pink silk shirt
Eight wears ago Arnstein was arrested
in London and extradited to New York
for swindling William Il. Shinks OF Spring.
field. Mass, out of $4,000 by means OF
worthless stock. Sentenced to two years
in Sing Sing prison, Arnsteln served less
than a year Six other members OF the
hand were later arrested In San Francisco,
Toxic and Baltimore.
Shortly after Arnstein's disappearance,
last February, Federal Judge IN New
York issued an order enIolning 900 or
more banks and repositories IN the
metropolis from dlsposing OF any money,
stocks, bonds or other securities Arnsteln
might have on deposit in them. lie was
known to have SIN safe deposit boxes IN
various public vaults. According TO the
police. Arnstein. together with his asso-
riates' obtained the stolen bonds and other
securities from the messengers and runners
and took them to various cities, where
they were put UP as collateral Tor loans
The bows or men who committed the
thefts received less than one-quarter OF
their value and in some instances, nothing
at ALL More than S500,000 was said TO
have bnen "buried" in Canadian banks IN
this wsy. About S750,O0 is said 10 have
been traced TO Philadelphia, Washington,
Baltimore and Cleveland
Assistant District Attorney Doohng Of
New York, who has been prominent IN the
investigation of the ArnSteIn case, said
that in four months from October, 1919,
there had been more than 500 bond ron
berries ranging from $500 to Sl1S,tOu' ana
that most OF them were 'oihcc Jobs, that
Is. done by employees of banks and broker
age houses. He said the system had
connections In every large city IN the
United States. Bonds stolen IN Cleve-
land. Chicago or San Francesca, ne de-
clared, were forwarded TO fences IN New
II ,gs4 han tyval q :
collateral for loans.
Hidden strings are being pulled. dc
clared Bernard j. McGinn, manager OF
the claim department of the American
Surety Company. through underground
channels which seem to undermine most
Of the financial district. Leaks, Il seems
are taking place within stock exchange
houses and il looks as though an ORGANIZED
intelligence service Is In operation
Arnstein s name. according 10 the po
lice records, came into prominence ~ the
case last February in connection with th;
arrest in New York of Joseph and Edward
Gluck. brothers. Herbert and Rudolph
Bunora. and Edward Furey, bank and
brokerage messengers IN Wall Street. Ht
was specifically charged with receiving
S42. 600 worth Of Cruclbie Steel certlh-
Gates stolen from New York brokerage
house Some of the prisoners stated that
Arnstein and his alleged partner, Nicholas
Cohn, for whom rewards Of $500 are
offered. had received from them and dis
posed Of more than $4,000, 600 worth O.
bonds and other Vegetables.
Shortly after Arnstein's fight las
February. hearings were held IN tht
Federal Court in New York TO have hin
sdjudged an involuntary bankrupt. j
Was there charged that ms assets consis
of many thousands OF dollars, A few
weeks later. New \ ork lawyer. who said
he was counsel for the fugitive, reported
he had met Arnstein IN Cleveland and
that he had told him he was ''Innoce nj