Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-10-05
CAN'T FIND S365,0)D
CHANDLER BONDS
Liberty Issues Supposed to
Have Been in Safe Missing,
Reber Says
BOOKKEEPING IS BLAMED

At least S3G1 900 in Liberty bonds
that should have been in the safe OF
Chandler Brothers 4 Go. at the time
e their failure, July 25. are missing,
according to !. Howard Rebcr, attor.
nCy fer tho receivers.
Net only that. said Mr.. Rebrr today,
but what is concerning the receivers
ana the creditors of the defunct brnk-
rraGc firm is III" possibility that other
thousands in bonds are also missing,
bonds which receivers or creditors know
nothing about.
These securities that have vanished
IN thin air will be explained to the 1900
Cr 50 creditors who have been invited to
attend Il hearing in the Federal Build
ing October %. Then MIR. Reber will
ask the creditors whether they want to
hire expert accountants. Mt S400 a
week, to search mcthodically through
the looks of the concern for the MISS
ing bonds
Bad Bookkeeping Blamed
Members OF tie firm have blamed the
Disappearance Of these bonds upon poor
bookkeeping. MIR. Rcbcr Is quito ready
70 admit this may prove 70 be thc case
In fact. ar said today II might develop
after all that the bonds never really
existed, but lad bccu entered upon the
boo Ks in error, without any foundation
IN fnct.
I'm May, before tho failure" said
Mr. kcocr,, when Chandler Brothers
X Co. realized they were in poor shape,
they called II meeting of their principal
creditors and told them they needed tG
raise money to tide the firm over its
crisis
These creditors put their own ac-
countantS to work upon the books, with
the rcNHIt they found these $}tSJ. 900 in
Ilb"rty bonds gone. and no trace Of
them.
Later the accountants were sent to
tho New York office. They went back
and started at the very beginning Of
the Liberty bond campaigns. 1t was II
question whether there ha dnot been
moro bonds credited on tire hoods than
had actually been received whether the
bonds had in some manner been stolen
or whether they had been given to banks
ms collateral for loans, by the firm, and
had never been returned.
Began Own Investigation
"On July - last came the failure.
Tho receivers then took hold. and | be-
gan an investigation upon my own uc-
count Two weeks after the receivers
had been appointed | went to the New
York Office and found tire whole corps
Of accountants at work upon the books
They were searching for the missing
bonds, and piiing UP the expenses at
the rate of S4OO week, and had got
only IA far down as January. 191. |.
got rid Of them and brought all the
books and papers to Philadelphia, and
closed the New York Office completely.
The big question remains. there
fore, where are the bonds, and how
many more are among the missing?
These bonds may have been stolen;
they may be on the books by mistake.
don't know. But ! do know this:
During the war there were forty en-
plOycS of the firm. expert accountants,
who went into active service. Their
places had to be filed by girls, unable to
master the intrtcacics of the accounts
as should have been done. This left
the books in very bad shape"
+. j. Gillian, who with Cornelius
Haggcrty is a receiver for the concern,
said he believed the trouble was due 10
faulty housekeeping.