The evening world., 1921-12-30
WALL STREET FIRM
SUED AS BANKRUPT,
OWING S7,5OO,OOO
t. w. Wagner, President of
Brokerage Concern, Says Ex-
change Broke Faith.
RECEIVER APPOINTED,
Failure Laid to Over-Extendad
AccountS---Hope to Pay
"DOllar for Dollar"

The failure OF the stock brokerage
firm Of f. w. Wagner, of No. SO New
street, was announced to-day on the
Stock Exchange and at the same
time an involuntary petition in bank
ruptcy was fled in the Federal Court.
Henry Fl. kaufman, of Hays,
Hirschfield& VOLS. OF No lis Broad
way. attorneys for the petitioners,
estimated the firms liabilities at 81
100000 and their assets at $4,000. 900.
Judge A, N. Hand appointed John
s. Shepard of No. 27 Cedar Street
as receiver under a bond of 100000.
The petitioners are Peter J. Rogers,
No. 1872 Park Avenue. with a claim of
$4,000 alleged due on his margin
stock account; Frederick w, Boschen,
$4,000, and Rudolph Guenther- Rus
sell Law. Inc, $500.
The defunct firm comprises Emil
w. Wagner, Charles A. Johnson,
Ernst Tietgens and Frank w. Don
aldson. They have branch offices in
Chicago, Buffalo, Rochester and
Oswego. An assignment to Clarence
c. Taylor OF New York and Chester
Legg OF Chicago, is said to have pre-
ceded the filing Of the petition.
The following statement was issued
by the stock Exchange:
The Committee OF Business Con-
duct Instituted an examination of af-
fairs of E. w. Wagner & Co. recently
as a result OF which examination
members Of the Arm were summoned
before the Committee on Business Con-
duct. This was followed by the assign
nlent Of the arm. The causes leading
UP TO the assignment viii be fully con-
sidered by the Governing Committee
upon the presentation Of the matter
to that body"
c. c. Taylor. formerly manager OF
the Arm, and now the assignee, said
the closing OF the Offices had come
so quickly that he could not make. a
statement, But" he added, II know
that If tho arm is given q chance IL
will pay dollar for dollar"
Late this afternoon the. following
statement was issued by the hrm:
The firm Of e. W. Wagner 4 Co.
has been in business for thirty seven
years and We hope that the IIquida-
tion of our affairs Will Justify the
confidence that has been placed in
MS. Unfortunately our business was
over extended ana our capital be-
came, in the Judgment OF the Stock
Exchange authorities. insufficient to
assure complete protection 70 our
clients. The business is out OF our
hands but we shall render every as
sistAnce possible 20 those IN charge.
II properly and gradually liquidated.
We believe our assets viii be ample
TO take care OF our obligations"
The nrm had membership in the
New York Stock. CofNee and Sugar.
Cotton and Produce Exchanges. the
Chicago Stock Exchange and Board
Of Trade, the New Orleans Cotton
Exchange. the Cleveland Stock Ex-
change, the St. Louis Merchants
Exchange, the Minneapolis and the
Milwaukee Chamber OF Commerce.
CHICAGO. Dec. SO.-E. ". waK-
ner. President Of f. ". Wagner 4
Co. which suspended business to-
day, issued a statement criticisinK
the New York Stock Exchange. He
sad the Exchange had promised to
take no action until after 235 O'Clock
this afternoon. but had failed 10 keep
the promise.
r. w. Wagner 4 Co.. he said. wers
long on stocks which were being
closed out