New-York tribune., 1922-07-01
Grand Larceny Charged
Against President and
Nicc.Prcsident of Bank.
rupt Brokerage Concern
Managers Also
In Grand Jury Net
Gifts and Expenditures
Said TO Have Been Made
From Customers Funds


tistry who was senior partner OF the
bankrupt stock brokerage house % /.
D. der & Co., and Harry J. Lawrence.
jr.. the junior Of the firm. were indici-
ed by the Supreme Court grand jury
yesterday afternoon on seven counts
charging grand larceny and on nine
counts charging the operation OF a
buckctshop.
Two employees OF the firm. the miss
ing Benjamin +. Shrimpton and Adam
Reekline. both managers. arc indicted
for participation in alleged .buckctshop
operations Of their employers in the
second indictment OF nine counts
The indictments were handed UP TO
Justice Giegerich. in the criminal
branch OF the Supreme Court. He at
once issued bench warrants FOR the
four indicted men. and their attorneys
were requested TO bring them to court,
but none had appeared when the courts
and the District Attorneys Office
closed for the day.
Dier Reported on Broadway
Late in the afternoon it was report
cd 10 the District Attorneys oificc that
Dicr had been seen on Broadway. in
the Forty-second Street ncighborhood.
This was about o'clock. lie was said
to be in the city for the purpose Of
attending the bankruptcy meeting at
the ofice Of Seaman Miller. referee,
> Rector Street. and was supposed TO
have been on his way 20 his lawyers
Office. at 527 Fifth Avenue. Nash Rock
wood, D.ers attorney. IS now IN Port
land Ne, however. on the case OF
Charles ". Morse, and is not expect
I'd back until next Wednesday.
Ii was also expected that either Law
renee or Rccklinc would come in before
the day closed, but neither appeared.
Il was said that Der was certainly IN
the city and that he would be arrested
and taken 10 the Tombs before the
night was over. !. is likely, however,
that he will wait until to-day and ap-
pear ready to give bail.
District Attorney Banton, IN an
nouncing the indictments, said that ne
could 20 TO trial at once. as he had
p:epared n complete case before the
evidence was presented 10 the grand
Jury. He said il was probable that he
would try the case himself.
Specific Charges Made
Mr.. Banton gave out statement
containing the names Of the complain,
ants against the Dioi partners and
their employees, which named four
eomplainsnts. .oo.,
Andrew VI. Hamill, OF 5i7 West l29th
Street. charged the larceny OF >l'O"o
maid 10 L. ID. Dier & Co. 10. the puF-
pose Of buying $1,000 NorthwesieFr
Rell Telephone Company bond. George
Uecteroth. Of s. West Ninety hrs:
Street. said he paid Sl75 a. margin o"
100 shares OF Willys-OvcT and stock
and Estcllc T. y. Storm go 70 pur-
chase outright thirty shares OF Lax,
Superior Oil. The larceny of So2t.i .
was charged By Mol.ie Ganiz on sou,
New York Telephone Company ioo boEa
James Pashos paid SlOO on lV'vVv
shares OF Allied oil, which he sara
were never delivered.
On the buckcting indictment Jonh y
Thomson says he ordered T.. u. DICT g
% TO buy 100 SnaFce o. any 'N'''
cafe.y Razor and charge TO his ac-
count. This. he charges. was not done
Henry z. Kimball was the second com
nlainant because OF failure TO buy h'e,
shorcs OF Paciii. Gas and Electric ana
1--WE q Sinclair Consolidated Oh.
Stipulation Oycrruled
The indictments were obtained after
an interesting legal contest brought by
the District Attorney 20 oY'a'r tne,
Djcr books Although DER permitted
thc receiver 10 take the books without
ycservation. after the failure on Janu-
arv II Manfred ". Enrich, the re-
coiver. later signed q st'prlaion not 10
hermit their use FOR any but purposes
Of the accounting. This kept them
from the District Attorney. The case
won't oll the way 20 the supreme Corr'
Of the United State. Chi, Jlslice
TAFT writing the prevailing opinion
that Dier had no right 20 '@-et ne
stirulation after he had given up the
books.
s. d. Dicr & Co. which was a reor--
canization OF Hughes & der and wnicn
TOOK over about S2.4000p) of the ac-
counts Of Charles \. Sioneham 4 Co..
Ssiled fer about S4.0o0.C5j. The re-
ceiver announced four days ago that a
fconiings1 on sas' i'1D