Every evening, Wilmington daily commercial., 1922-03-10
UNCER, EVANS FUND
THIEF SAYS STOCK
TICKER RUINED HIM
Declares Brokers' Mental Pic
tures OF Riches Lured Him to
Steal $4,000.
HELD UNDER $4,000 BAIL

BY Associated Press 90 Every Evening.
Philadelphia. Mar. 1o.--walter A.
Unger, former assistant treasurer ~
tho DR. Thomas W. Evans Dental In
stitute and Museum Fund. was today
held In $50 900 bail on charges OF steal
Ing approximately $4,000 of the
funds securities and money. He will
be given n speedy trial.
II stole the money" Unger confessed
today 90 the police. "and I want 10
start my sentence and get it over
with" II took the money to make my
mother happy" he added.
Unger was arrested I'm n rooming
house last night. lie had been in the
company Of John McDemment. who,
detectives say. has a police record a
neighbor recognized McDemment and
became suspicious Of Unger and in
formed the police.
In his cell earlier in the day, Unger,
detectives said. confessed he lost
most OF the money I'm bucket shops
and other broker offices.
Unger said he made his first plunge
In stocks in 1915 and lost steadily
thereafter, attempting to replace his
losses by going IN deeper. He stated
he had dealt with the u. u. Dier and
Company, bankrupt brokers. aud six
other firms. but concluded that he had
been a poor sucker"
unger declared officials Of the Girard
National Bank. where the institutes
securities were kept. knew ne was
speculatlng and two years ago one of
them warned him against playing
the stock market. He was employed
NJ the bank as confidential secretary
TO Francis y. Reeves. chairman of the
board OF directors.
Al one time. finger said. he made
$4,000 I'm a week. but held on too
long and was forced IN the end TO put
up $4,000 more TO cover the margin
Another time. he declared. he had
bought stock in q safe amount 70 net
him 100000 profit. but when he went
10 the brokerage firm TO collect they
denied he had placed the order.
brokerage firm began negotia tons
yesterday for the restitution Of Sc
ouritles which Unger IL alleged 70 have
put up ss collateral IN Speculation
The identity of the firm was withheld.
According 10 Mr.. Weaver. Unger wrote
to his mother that he lost money
through r., d. DER n Co. bankrupt
Arm, and other brokers
Reports from a meeting OF counsel
representing parties interested IN the
shortage Indicated that the amount
might be made up through pro rata
subscriptions OF Francis B. Reeves
treasurer OF the Board OF Trustees Of
the fund; members OF the board and
the Girard National Bank. Reeves Is
chairman OF the banks directors
I'm glad they caught ne" Unger
said in his cell a; City Han today. ac-
cording 10 a detective.
II was in fear all the time" he is
alleged 10 have continued. Il always
thought police were on my trail. Why
did do It? The old. cid story. The
brokers showed me the pretty picture.
the beautiful scenery and the height
outlook. / got in TOO deep, tried to
come back. got beyond my depth. l
am willing 10 pay for my deed. But
my family. the innocent Lystanders.
as always Will suffer"
Unger, who had been missing nine
days. was taken into custody on in
formation furnished by a resident OF
the neighborhood in which the room
ing house is situated. He told the de-
tectiyes that he had not been out OF
the house for two days and had had
nothing TO eat for thirty-six hours.
He was in bed when the detectives
entered his room.
The police declined 10 say whether
Unger admitted having taken the den
tai school funds. and he was not per-
mitted 10 talk 10 others. He was locked
up at the City Hall and will have a
hearing tomorrow.
Unger. who was Assistant Treasur-
er OF the Dental Institute fund, dis
appeared Feb. 2S The next day ne
gotiable securities Of the institute said
to have been worth 100000 We're found
TO be missing from safe deposit box
in the Girard National Bank. IL was
also charged that he had withdrawn
from the bank SIC 900 in cash belong
ing to the institute.
Private detectives were put on the
case at once by the Board OF Trustees
OF the institute. but the facts did not
become publicly known until last Tues
day night. 4 warrant for Unger's ar
rest was not sworn out until yesterday
when John Weaver. Chairman Of the
board. had one issued charging the
Of 1000 and the lar
ceny OF securities valued at more
than 500 900"