The New York herald., 1922-03-12
der CREDITORSA ASK
STINEHAM TO GIVE
$2yOOO,OO070FUND
He Will Pay Only 100000,
Contingent on Raising Of
S1,OOO,OOO More.
EXAMINED LONG AGO
His Own Lawyer Reveals
His Appearance in Bro
ker Failure.
NOW DROPPED FROM CASE
Receiver Sees No Need of Ques-
tioning Him Further, De-
spite Complaints.
NOW DROPPED FROM CASE

Charles A. Stoneham, owner of the
New York Giants, and broker, has been
called on by Z. d. DER & Co., creditors,
to pay $2.000.O0o to help in compost
tion for them, 1t was revealed yester-
day by Leo Bondy. his attorney. Mr..
Stoneham, however, will contribute
only 100000 contingent on $1.000,000
more being put up by others con-
cerned in the firm, said Mr.. Bondy
fatty.
Mr.. Stoneham already las appeared
before examiners investigating the
failure of E. d. der & Co., ass-rted
Mr.. Bondy, who said Mr.. Stoneham
had given testimony several weeks
ago on his return from Havana.
Until the statement Of Mr. Bondy
there was no information that Mr..
Stoneham had been examined, al
though, an order requesting his return
from Cuba, was dispatched several
weeks ago by Alexander Gilchrist.
Commissioner in Bankruptcy. Mr..
Bondy said there was no subpoena
for his client, but that he. and Ross
r. Robertson. his partner, had come
from Cuba, told their stories and re-
turned there.
Record Not Obtainab1e.
At the, Offices OF Hays & Wadhams.
attorneys for Manfred w. Enrich, re-
ceiver for E. D. Dier & Co.. 1t was said
that 1.-THE policy is not to make any
statement regarding Mr.. Stonehams con-
nection with the matter just now" Will
lam Abramson, who has been assisting
Arthur G.. Hays In examining witnesses.
refused to say whether Mr.. Stoneham
had been examined. No record that
the examination had taken place before
Commissioner Gilchrist could be OBJ
tanned.
Mr. Bondy said the contribution Of
fered by his client had been suggested
at a meeting of lawyers in the case some
six weeks ago. At that time. he asserted.
Mr.. Stoneham eaid to those present:
Gentlemen, / feel badly about this
affair. especially that my former
clients. recommended by me to trade
with Der a. Co, should have suffered
this loss, and ] feel that anything
can do should be done. II you will man
age to raise s1.00o.0oo by June l l will
contribute my $780, .000."
Mr.. Bondy insisted everything was
regular in the transfer of the clients
by Mr. Stoneham to the Dier Arm, and
that they had ample opportunity to take
their business to any brokerage house
they saw At when Mr.. Stoneham sold
out.
Daniel w. Blumenthal. VINO with his
brother, Maurice Blumenthal, is acting
for more than 500 of the creditors of the
insolvent brokerage. said that until the
full particulars regarding the transfer
OF the Stoneham accounts had been dis
closed and thoroughly investigated he
had advised his clients to refuse any
offer OF partial payment at this time.
A mass meeting of the members of the
Independent Creditors Protective Com
mittee, represented by Mr.. Blumenthal,
end those represented by o. p. Carpen-
ter, is being arranged for next week.
Maurice Blumenthal is in Chicago con-
ferring with C. c. James. chairman Of
the Dier creditors of the West.
Complaints About Transfer.
According TO Mr.. Blumenthal many
OF the clients Of Stoneham q Co. were
transferred to the Dier firm without
their knowledge He showed letters
complaining that while the writer's knew
the Stoneham house they were unfa-
rniliar with 4. ID. DER & Co, but that
their accounts had been transferred
without sanction.
The statement that Mr.. Stoneham
would contribute $2.000,000 was charac-
terized as highly ridiculous" by Mr..
Bondy. On the contrary, he said, Mr..
Stoneham would withdraw his offer IL
the additional s1.000.000 Is not raised
by June 1. He added:
"Mr. Stoneham's contribution Is merely
A 6ratuity to the DER creditors because
Mr. Stoneham Is sorry that they lost
shsir money. He Is In no way connected
Min or responsible In any way for the
rs.tlure OF the firm"
.dr. Bondy said he could not remem-
ber just where the meeting Of the law
yers took place when the 100000 offer
was made nor when or where Mr.. Stone
ham had been examined by the attor-
neys for the receiver. The offer by his
client. asserted Mr.. Bondy. was not made
a. aay ones suggestion but came d.
rcctly from Mr.. Stoneham. Several
other wealthy men, many of them
friends or the baseball owner. through
out the country are aiding in raising
the s1,eOv.v00, said Mr.. Bondy. who be-
lieves II will be found before June 1.
Inquiry about future proceedings by
the receiver elected no information from
Hays q Wadhams. IL was made clear.
however, that the receiver has no claim
OF an kind against Mr.. Stoneham, and
there is no evidence that everything in
the transfer was not regular. Neither
Mr.. Hays nor Mr.. Abramson would say
when the hearings will be resumed.
OBREGON GENERAL Is KILLED.
MEXICO Cry. March IL (Assoclatetl