The Washington herald., 1920-12-02
BOND ROBBERY
DECLARED EASY
Wall Street Messengers Tell
Court Of Lax Methods IN
, Handling Papers.
TRUST IN STRANGERS
Brokers Often Leave Docu-
ments Unprotected, Arm
! stein Trial Reveals.
TRUST IN STRANGERS

The Individual who drew a news
paper cartoon depicting supposed
Iy careful business man refusing to
cash a check for 81 for q friend and
then carelessly allowing a messen-
ger boy, whom he did not know, to
have possession Of thousands OF
dollars worth of securities, did not
overdraw things, according to the
testimony introduced yesterday at
the trial of Jules CNicky) Arnstein.
Arnstein and his alleged associ-
atss In the IS. 900. 900 bond robbery
are On trial before Justice Gould in
Criminal Court No. on charges of
conspiracy to bring stolen bonds
into the District.
The business man in this case Is
the New York City broker. Several
messengers and cashiers for broker
age houses were on the stand yes
terday and their testimony revealed
the loose, haphazard methods by
which securities worth millions
were banged about from one onice
to another and often in the posses
sion of employees who had been with
the firms but a few days.
Tells of Lax Transferenee.
william vekle, a youth who had
been employed by a New York
broker for two weeks, related how
he was met on a stairway in Wall
Street office building and persuaded
to turn over to a stranger a GER
tificate of stock representing a
large amount of money. He said
the stranger represented himself as
an employe of the firm to which
the certificate was addressed.
Assistant District Attorney Ar
cher instructed Vekle to tell in de-
tail his experience along this line
that the jury could see how the big
bond robbery came about When
asked IL he recognized Joseph or
Irving Gluck, Vekle replied that he
did not remember seeing them be-
fore This question was asked in
an attempt to identify one of the
Vekle on the stairway.
Charles Ambrach. cashier for
Goldschmidt and Company, Of New
York City, also described the
methods by which stock certificates
were bundled about by messenger
boys. 1t was Ambrach who was the
first to relate incidents which gave
the jury a hint as to the methods
In vogue in Sullivan and Company's
Wall Street ofices.
Eugene O'Sullivan. q messenger,
also told how one day a valuable
lot of stock certificates disappeared
after another boy had been sent
with them to an adjoining office.
slip.hod Methods Related.
Several other messengers were
called Witnesses. and they all
related stories concerning the slip
shod method OF sending boys out
with stock certificates of immense
money value, and Of trouble follow
ing some Of these delayed deliveries.
At times, the witnesses declared.
when they brought in a bundle of
stocks to an office there was no one
to receive them, and consequently
they were dumped unceremoniously
on a nearby desk. the messenger
walking out and leaving the valu-
ables unguarded. None Of the mes
sengers knew about any plans or
preparations to guard them on their
runs" from one brokerage house
to another.
Arthur Dolpheen, of the Franklin
Trust Company, of Philadelphia,
related the circumstances under
which a loan of s115.000 was made
to Sullivan and Company. The brok-
erage house, he testified, put up
steel and oil stocks as collateral for
the loan. This testimony was OBJ
jected to by Attorney William ].
Fallon. counsel for Arnstein, on the
ground that 1t was not concerned