Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-11-21

I<1LlJNt lIlb - llll<[AlI1<A
-
turned over to the trustee all his bank
books, check books, check stubs and
other papers. =.
~ haven't been asked for them,
he snapped back. lie then was ordered
to turn over oil his papers to the
trustee.
Isn't the house in your wife's name
actually your propertyT the witness
was asked. He said II was not. He
further insisted he has no cash on hand.
mot even penny
Seeks Small Bank Balance i
Mr.. Reber called attention to an item
of SS1. % on Mr.. Chandler's schedule
| Of assets. It had been written in his
own handwriting and then was crossed
| out.
That was little mistake" he ex-
| planned. II had no cash at all on July
20. when the firm failed"
He was asked II he does not have
$S1.22 on deposit in the Real Estate
Trust Company. He admitted he has.
and further admitted he had that sum
"We'll get that at once" COM
mented Mr.. Reber. The witness vol
unteered to get the money for him.
'No, you won't; you can't get.'
replied the attorney sharply. The wit
ness appeared astonished.
That's news to me-" he said. He
| further stated that he owns no books.
no prints, no pictures or any other
housefurnishings.
Mr.. Chandler admitted he speculated
In stocks on margin through an ac-
count he carried with his. own firm. He
said he seldom put up collateral to cover
his risks.
When Chandler Brothers & Go. was
recognized in May, 1917. Mr.. Chondler
stated, he held 81 per cent Of the stock.
Asked what accounts he had with the
firm he replied a No. 1 account, n
withdrawal, a capital account and an
insurance account.
Mr.. Chandler was questioned about
transfer from his marginal to his
stock account of SS506, made Iune 30,
1910. This sum represented the pro-
ceeds of the sale of the house he occu-
pied before building a $25 900 residence
at Haverford
Mr.. Chandler first said the amount
had been credited to the stock account.
then to the marginal account and
finally to his wifes house account.
Robert Holdsworth. former assistant
cashier of the defunct company, who
was ut Mr.. Reber's elbow, brought out
that the statement was incorrect.
Mr.. Chandler. who had stood with |
Redeemed face and twitching fingers,
then admitted tina he did not remem-
Der Just what had been done with the
account.
Paid Bills From Account
Asked why the No. l account was
opened, Mr.. Chandler replied the prof
| its of both syndicates' were credited
to the account, and that at times he
! paid bills from it.
Mr.. Chandler further admitted that
he withdrew in cash, In excess of all
credits, $3G44 in 1913, $6015 in 1919
and $7615 in 1920.
On January p, 1921, Mr.. Reber
stated, Mr.. Chandler's account was
credited with SS11S, which was marked
In the No. account rs the balance of
the account from the capital account.
1.-The transfer was made to clear up
the credit account and balance it on the
books" Mr.. Chandler explained
when you did that didn't you know
you were insolvent?" demanded Mr..
Reber.
NO" was the reply.
"You knew what happened DeCem-
ber 10 when the house learned 1t was
insolvent, didn't youT' asked Mr..
Mr.. Chandler then corrected his
previous answer and admitted he did
know the house was insolvent.
Withdrawals Are Questioned
Turning to Mr.. Chandler's insurance
account Mr.. Reber developed that $3S47
was withdrawn from it in 1919, S443J
In 1920 and $2S30 in 1921. Mr., Chan
dler explained that he had paid all his
insurance premiums with the firms
checks and that the amounts were bal
anCed by transfers from his capital ac-
count.
From his withdrawal account in 1919
he admitted, was taken S145O, while
in 1920 the withdrawal total was $1S,-
900 and in 1921 S11. .545. Last year
a withdrawal of $50, ,449 was made from
the capital account. He explained this
was for income tax purposes.
The total Withdrawals from their
various accounts was Sl42,50I Mr..
Rebcr showed by records of the firm.
The books also showed, Mr.. Reber snd,
that Mr.. Chandler now owes the firm
$11 ,007 on his investment account. The
witness said he did not recall the debt.
The questioning then was swung to
the Dorothy b. Chandler house account
which Mr.. Chandler said was used to
pay bills in connection with the new
home he built in Ardmore. The house
cost $37 800 and the land $11 900, he
said.
"Why were the bills paid by the
frm?' asked Mr.. Rcbcr. who contcndcd
that the house actually we purchased
by the brokerage house.
II had 1t done that wav so I could
go over the figures easily when I con-
suited with the architect" Mr.. Chand
Ter replied
"Werc the bills paid by the firm"
the attorney persisted.
mo. by checks of Chandler Bros.
and Company" the witness replied
MY wife paid most of the bills
House Is In Wife's Name
Mr.. Chandler then admitted that
from August l. 1919, to March 20.
1920, $65,507 was charged off from
that account.
"Wcren't all the bills paid by Chand-
lcr Bros. and COmpanyT asked MIR.
Rcber.
They were paid by Chandler Bros.
and Company's checks" the witness
insisted. He pointed to credits which
he said balanced the sums paid out.
Mr.. Rcber sought to show the credits
we're fictitious.
"Who paid the money for this
house?" demanded Mr.. Reber.
II paid for a majority of 1t and Mrs.
Chandler paid for a majority of it,"
tho witness said He was reminded