New-York tribune., 1921-03-03
Seek $250,0OO
Mail Loot Here:
Two More Held
Police Arrest Man Who
i Sold $4,000 Worth of
Bonds Stolen in Toledo:
$4,000 Bail for Another
On Trail of the Leaders
New Workers Believed to
III ave Obtained Quar-
ter of Hold-up Booty

Following the arrest in this city yes
terday of two moro alleged accompiices
of the bandits who staged a $1,000 900
hcld-up at the Toledo, Ohio, postofiice
three weeks ago and the recovery OF
an additional $4,000 in stolen securi-
ties, police and Federal. authorities de-
clared that at least $25o,o00 in loot
had been brought to New York and was
being disposed of through small East
Side bond brokers'.
One of the prisoners was Jacob
("Lippy'O Cohen. a we'll known East
Side character, who, the police say, re-
turned recently from Toledo. He was
arrested when he walked into De-
lancey Street brokers' office. where he
had sold S2,S00 of the bonds the day
before. When he was searched at Po-
lice Headquarters bonds of the value
of $1,700 were found on him.
Andrew Folz was the other man taken
into custody. Details of Folzs alleged
connection with the disposition of the
Toledo loot were not made public, nor
was anything concerning the prisoner
himself disclosed.
$4,000 Bail for One
In fact, the arrest of Folz did not
become known publicly until he was ar
raigned before United States Commits
sioner Hitchcock on charge of being
In possession of two 81 900 Liberty
bonds, recovered Tuesday when Frank
Miller and Joseph Fisher were arrest
ed in a money exchange Office at 232
East Sixty-eighth Street.
Folz was held under $4,000 bail.
Miller and Fisher were each held in
$4,000 on the same charge. This dis
tinction led to the belief that the
capture of Folz is considered an espe-
cially important one. Fisher said his
real name was Nogel.
Cohen, who is thirty-eight years old
and lives at 1114 Broadway, was arrest
ed late in the afternoon by Detectives
ton. Street station. They lay in wait
for him at the Office of Jacob Lazarus,
127. Delaney Street.
On Tuesday, according to the police,
Cohen offered TO sell Lazarus Fourth
Liberty loan bonds Of the value Of
s2,S00. Lazarus bought them.
"Can you use any more?" Cohe1 is
said to have asked the broker. m
SURE said Lazarus. got any more 2"
"a trunkful of en- Cohen is quoted
as replying. "I'll be back Tomorrow :"
This boast of prosperity aroused the
brokers suspicious, and he took his
purchase to the Federal Reserve Bank
There he was Informed he had bought
some Of the proceeds Of the Toledo
robbery. Lazarus reporteC to the po-
lice, telling them Cohen had promised
TO return yesterday.
The manner of Cohen's arrest was
similar TO that of Miller and Fisher.
They. too, were taken when they re-
turned a second time to the place
where Fisher is alleged to have sold a
$1,000 bond Monday.
Cohen professed surprise when he
was arrested and declared he had no
knowledge of the bonds being stolen
property He said he won them in a
not. say where in that city the game
took place, or who the other players
We're. Inspector Coughlin, commanding
the Detective Bureau, and several post
office inspectors questioned Cohen for
three hours last evening without-much
success. He was locked up on charges
of being a fugitive from Justice
The police say that Cohen's recent
trip to Toledo was not his first visit
there. On October 10, 1919. they aver,
he was arrested in that city. charged
with being pickpocket. They had no
record of his having been convicted on
that charge. In 1906, it was said, he
served a workhouse sentence for disor-
derly conduct, and was once fined for
gambling.
Cohen sometimes uses the alias of
His nickname of "Lippy" was acquired
because of his hippant attitude and his
faculty of talking himself out OF diff
culties.
Two leaders Now Sought
The anticipation of the police that
they will shortly recover the bulk OF
the .$25O.000 stolen bonds they say are
IN New York is based on their hope Of
experimenting two New Workers, sus-
pected of being the kingpins in the
ring that has been Showing OUT the
securities through unwilling East Side
brokers. They claim advices from the
Ohio city give them Il pretty definite
idea of the identity Of the men they
are after and that it is only a matter
of time until they are caught.
These two men are said to have beer
in Toledo or nearby when the post
office hold-up was committed, met the
bandits at rendezvous and took &
quarter of the loot off their hands
within a few hours after the crime
They are understood to have headed
straight for New York, to have lait
low for a few days and then proceeded
to send out their agents to sell The
stolen bonds.
Detectives are busy making the
rounds of all bond brokerage Offices. OF
which a host have sprung up in the
city since the pinch of deflation made
it necessary for so many persons tC
get back the money they lent Uncl,
Sam. The police say their attempts tc