New-York tribune., 1920-05-05
Bond 'Fagins'
Beset Youths
In W all Street
iooling Says Dealers Are
Responsible for Theft of
Hundreds of Thousands
of Dollars i'm Securities
in Notes Found
'wo Plead Guilty to the
Theft of 5000 in Lib
ertS Bonds December l

Youthful clerks in New York finan-
al hdEses are continually beset by
sagins@ of the bond business, who re-
,rt to.every vile to induce them to
eal, and who are responsible for the
ieft of many hundreds of thousands
! dollars in securities, according to
ohn T. Dooling, Assistant District At,
,rney. - -
He bore out his assertion by making
ablic the details of two cases which
coupled ~the attention of his Office
esterday, one of them eliminating in
ae recovery of $4,000 worth of ad
aterim securities, bonds and short
srm notes.
After receipt of the information that
aymondsF. Cooney, of 2o6 West 14sth
treet, had been arrested in Indian;
polls, Mr.. Dooling journeyed to Mount
ernon.: He was accompanied by
preventative of the bond house of
.enry l.. Doherty & Co., GO Wall
treet; by Detective Sergeant Fleming
nd Donald C. Burgess, of COL West
/ 35th Street. Burgess and Cooney were
ointly indicted for grand larceny and
rIminally receiving stolen goods. In
Z safe deposit vault of the Mount Yer
on Trust Company they found $751;
90 worth of the securities.
Burgess Said To Have Confessed
4 Burgess was transfer and cancella-
on clerk e0Ep poherty &; Co. His work
.onsisted of canceling the coupons of
q interim certificates and issuing
hort term notes in their stead. Bur
iess confessed. according to Mr.. Doc
ng, that at the instance of a bond
4 Fagin in this case. he appropri-
ted $25,00n- worth of coupons and
armed them over to Cooney, who is al
nged to have transferred them with
he connivance of Burgess for short
.srm notes. With $4,000 of the pro
eeds. it is alleged, Burgess opened
rading account with downtown
|roker under fictitious name. He
hight have carried on his alleged de-
.alcations indefinitely if he had not be-
ono frightened and run away. In ad
lition to the $3.50 worth of loot
3ound in Mount Vernon the authorities
ork brokers' office. Only the $4,000
n his trading account is missing.
Cooncy, it was made known, has con-
tented to return from indianapolis
s'ithout eXtradition.
The police and detectives of the Dis
5rict Attorneys office expect to have
N custody within day or so the third
pan, who. according to Burgess's al
eyed confession, tempted him to steal.
Admit Theft of $500
/ The second case in which bond
Faein" figures is the THEFT Of $25, 900
N Liberty bonds from the Title Guar
ntee and Trust Company on December
Yesterday, before Judge Grain in
General Sessions, pleas of guilty were
ntered by Arthur Weigand, twenty
.wo years old, of 10435 111th Street,
Richmond Hill, l.. L., and Samuel Maria,
wenty-siX, of 1540 Putnam Avenue,
Brooklyn. They will be sentenced
day y.
Weigand, who was clerk in the
mploy of the Title Guarantee and.
rust Company, told Assistant District
Attorney Dooling that he had been in
pictured to him hsw easy it would be
% "get away with it,"
He declared that clerks in banking
md brokerage houses in New York
we're being constantly subjected to
his sort of temptation from bond deal
srs.
Maria, who pleaded guilty to Grim
.nally receiving stolen goods, is
charged with having disposed of the
bulk of the $4,000 in bonds taken by
bNeigand. Weigand pleaded guilty to
grand larceny.
The "Fagin" in the case has not yet
been apprehended, but his arrest is
expected soon.