Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1921-10-19
u, S. Will PROBE
COOP CONCERN
Chicago District Attorney Says
Federal Investigation May
Be Ordered.
GRAND JURY TO take CASE
Harrison M. Parker, Head of Cooper
'ative Society of America and 9th
err Firms, Tries to Explain
figures to Receiver.

Chicago, Oct. 19.-Immediate fed
eral investigation of the affairs of the
| Cooperative Society of America, the
Great Western Securities corporation
and other c0ncere affiliated with the
promotions of Harrison M. Parker is
to be made at once. This was an
nounced by District Attorney Clyne
| following a conference with Federal
Judge Evans.
The result may justify grand jury
action, Mr.. Clyne said.
Meanwhile in his offices in the Peo-
pies Life Insurance building, Parker
was attempting to explain further
ENHANCEMENT between his figures and
his previous statements. AS julius
Moses of counsel for the Central Trust
company, receiver, progressed, at least
one erasure in a receipt for securities
belonging to the Cooperative group
was admitted, with the possibility of
others. The only explanation offered
was the desire to keep the property
out of the hands of possible wreckers."
Finds 10 Hard to Understand.
"You know, Mr.. Parker, it is hard
for us to understand what is true and
what is not true, because of the diff
ference between your statements be-
fore Judge Evans on Saturday and
those you made to us prior to that
time" said Mr.. Moses. ...
81 know it," briefly responded Par
ker.
The erasure came out in a further
examination as to the securities held
by Charles c. Higgins, vice president
Of the Great Western and cousin Of
Mrs. Edith Stubs Parker. These
supposedly were returned by mail last
week and turned over to the receiver
by Parker. A comparison of the secu-
rites returned and those receipted for
showed some discrepancies. and Attor-
ney Moses wanted to know why.
For instance, Higgins receipt dated
August 20, 1921. acknowledged, among
other things, 1926 shares Of Randolph
building corporation stock, the COM
pany that owns the Peoples Life build
ing. But, according to Parker's testl-
mony today, b certificate for $40 shares
Of this issue was in Chicago all the
time, and was found in d book Of the
western Finance corporation. ~
aa', Another Peculiar Case. 49,.
Again in tire case Of the City State
bank stock-another Parker subsidiary
-1,01O shares were returned by Hig-
gins from his mysterious retreat,
whereas some, l21 shares never had
left the Chicago sffices Of the Great
Western company. ~!
Parker considered this largely acct
dental, although he admitted that Id
this case, as In his previous testimony,
! he had .,.coyered dups to- protectothe
credit ofFhis concernssE " 81 {s3aso
! A bewiidering, array Of statistics Of
the Cooperative, Great Western and
other companies was presented by
Parker, some representing statements
by individuals, others of partial rAa-
tons Of one, company to another.
This led Mr.. Moses to demand Of
Charles Honaker, auditor Of the Par.
ker companies, a statement disregard.
ing the different arrangements Of the
two main companies, but showing the
specific amounts of beneficial certi-
ficates sold, supposedly about $28, OOO,.
600: live, accounts which are being
paid, said to be $11. 900 900; the 20 per
cent commission received by the Great
Western as brokerage, perhaps $5,OOO,'
600, and an "unaccounted for balance"
Of something like S1,1OO,OOO.