Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-11-24
BORDEN HAS LOST
FORTUNE IN CRASH
Good Name Gone, Too, Broker
Accused in $45o,ooo Check
Case Says
At ODDS WITH PARTNER

'I'vc lost everything I had in tho
world. including my good name. by this
thing and I'm no more guilty Of it than
you are
James II. Enr,lcn. senior member OF
the bankrupt brokerage firm Of Borden
Il Knohlauch who with his partner.
Ernest 4. knoblaurh. is under $50, 900
bn.l on charges of pmbcz2lcmcnt grow.
ins OUT of the disappearance of $3.50 900
from the firm, bank account, made this
statement today.
Thomas Racburh White. attorney FOR
Mr.. Borden, is making 4 study of the
books of the firm today in an effort to
clear his client when tn" cas-" comes
up for Il further hearing before Mag.
istrate Coward Wednesday.
Mr.. Borden's bail was furnI Sh"d by
friends who attended yesterdays hear.
ing. Immediately after the refusal OF
Judge Stern 70 reduce the heavy bail
fixed by the mag I>trate when the Gus"
was carried before him on habcas corpus
writ, So 600 in cash was raised and
deposited With the United States FL
deity and Guarartoe Company. which
entered bond and obtained the broker :
release.
Missing $3.50. 900 Sought
Major Wynnc. chief Of the county
detectives. and private agents engaged
by Mr.. Gray are continuing their search
today to find some trace OF the $3.50. 600
which disappeared
At the time il vanished Knoblauch
Is said to hav" disappeared from the
Office for two days preceding his arrest.
y l,-,s sra-
Of the alleged attempt 70 dcfraud. Bor-
don is being held. the lawyer says. be.
cause the transactions We're in the firm
name.
Borden and KnobIauch have not
spoken to each other for six months
and at the hearing bsfor" Magistrate
Coward Yesterday no sign Of rccos.
milton passed between them.
Both Border and Knobauch We're re-.
leased from MoyamenSng Prison unon
furnishing bond yesterday. Borden left
the prison n short time after he was
taken from the hearing before Mag
istratc Coward. knoblauch was re-
leased late last night, his wife hNv!n:
found hondSman for him.
Mr.. Borlcn discussed the case today
IN a voice trembling with emotion.
II am an innocent within in this
affair" he said. Il am in about the
same Position as a man who spends n
night in lonely cabin and next morn
ing finds his companion dead with n
bullet through his body. But | am
contid-Nt that | will be absolvcd when
the ease comes to trial.
Il had no way - prevent the thing.
When | got back to my office after an
Illness and saw the shap" affairs were
in, tr.ed to straight"n them out and
save the firm. but it was impossible.
Life Savings Gone
The life savings of myself and my
wife are gone and everything else wa
possessed was lost. too, even my good
name. but I will clear that when the
case comes to trial I nm as innocent
rs you had no chance. though. 70
save myself from tn" accusations that
have been made. y
II will be glad when the real facts In
this case come out
At the home ot Knohlauch. IN
Swarthmore. this morning. Mrs Knob
'auch, wife of the accused broker do :
rlined TO discuss the case even 70 the
extent of saying whether her husband
was still IN jail.
But there is one thing do wish
you would do for me- she said. "aud
that IS 10 correct the statements made
In the papers yesterday thar my hus-
band IS the son OF Gustav A. Knob.
LAUGH. who conducted tho Reading
Terminal restaurant for many years.
II frlt dreadful wEon read that 70
think that our misfortune should be
Ilnc"d upon the shoulders Of that fam.
Check for $500 Called Bad
The denl for witch RorGor and
Nnoblauch are held took place lasr
nany for Insurance on Lives and Gr!.ut
Ing Annuties instructed Knohlauch 70
purchase for its account $50 900 q!
United states Treasury cprtiNcatrs
knobNuch. il is alleged. ordered tho
certificates from kaan, Taylor X Co..
in New York, aud stipulated thar they
"or" 70 he placed in the Federal Re-
serve hank in that city 70 thu Penn>v.
Nania cUmpany'S credit.
He then went 70 the inter cOrlorv
for payment, and was given a check 10,
$500 900 after the purchase of the So.
cur!ties had been checked up by lung.
distance telephone. knobauch. accord
ing 70 William 4. Gray, attorney TO,
kean. Taylor 4 Co., the prosorutnrs
then deposited N" sum in me Border
X knoblaurh account and sent Il firm
check for it 70 kean. Taylor < 60
When officials of the New York con
Germ attempted 20 cash the check thp,
were Informed Il was worthless
4 voluntary petition in bankruptr
was fled Yesterday by Mr. Borden
listing liabilities of the firm at 81 .G24
COS and assets Of 81 1880. He sal
Knoblauch refused 70 join him In in
shutting the proceedings in bankruptrv
Following the fling of the petit.o,
Walter c. Douglass, Jr, was an
pointed referee. Last night NJ Dong
i.-, apuOinrpI as recpivp~u T. ~,
cnce Miller, OF Boren & Co., nm,
Harry Nathnns. former assistant 10 Nh
president of the Commonwealth Til
ana Trust Company. Bond was fixa.
for the receivers at S5o.OrO each.