Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-01-28
CLAIMS ON FAILED
BROKERS CLIMBING
Simon-Sche after Assets Won't
Equal Loss of One Client,
Receivers Say
NEW WARRANTS FOR K0HNS

Receivers of Philadelphia $ most re
Gently failed brokerage firms are busy
searching for assets and for the firm
members themselves Francis ]. Walsh.
receiver for the Simon SChaetfcr Com
nany. has uncarthcd additional assets
worth $685. 81.
Among the many victims of the firm
was n professional man, who told the
receiver yesterday that he had $780, 900
at stake with the firm. The total assets
Of the firm, according to Mr.. Walsh,
VIII by no means come near apprOXimat- t.
ing the amount this individual client mas
involved.
Appraisers were at work yesterday
In the firm = Philadelphia offices Mt 1909
Arch street. The result of their WORK
will be announced today.
Another warrant has been issued for
tho arrest of Edwin f.. Kom and his
son. George II. Kohn, whose broker
age house failed last week for total
of liabilities estimated Mt ST zoo. 900.
The charge in the new warrant is con.
spiracy to cheat and defraud.
Ralph W. Nagle. 13T West GIVE.
den avenue, Germantown, IS the ne
Cueer. lie says he deposited $4,000
with the kohn firm as collateral for
trading account. 1t is snid the stock
was sold without authority. as there is
no record of it in the books Of the
brokerage concern.
Dorsey f.. Phillips. county detective.
has been detailed by Major Wynne TO
investigate other Irregularities as re-
ported by the receivers. A report was
heard that kohu had been at Three
Tuns Inn. near Amber. early this
week, but COnStablcS sent there TO 10.
cate him found no one answering his
description. The receivers were indig-
nant concerning rumor that they
know all he time where Kohn has
been.
I'VE certainly wouId like to know. &"
said Thomas llydcman, one of the re-
CeivNrS. 1.-The BOOKS ale in such y
chaotic condition that he alone can
StraightCn out u number of tranSac-
. tiOns. Most Of the securities we have
found are undoubtedly ear marked. and
We have no mixing as yet of the assets
available for distribution.
David Phillips. the other receiver
secured an injunction in Chancpry
Court of Delaware. at Wilmington. yes
tcrday, preserving all the assets in the
branch office there. The manager Of
that branch said creditors are owed
about $500 900 I'm that locality.
Another hous" which failed roCCntl",
that Of =. u. der 4 Co. shows hopes
Of decclopin. NOR" assets for the bone.
fit Of creditors, according to Clarence
Loeb. receiver. Already more than
$4,000 has Lo"n uncovered. with a
prospect Of ma crially adding 70 ;hiS
figure within the nCAr few days. The
liabilities nc'e are nearly S2J0,UO0.
with claims roa.ng in every day.
Colonel Henry II. Hughes. former
Iartucr Of Dicr. and VIII" withdrew
from the old firm last May i. said to
be III rh's city and has promised not
to leave. but 10 be ready - undergo
examination when called.
Real ,>tGt including kou,r> At Ard
more and Atlantic City has been at
la"hcd. The Ardmorc residence. valued
at S6O.OCU, WIS transferred 10 Mrs
bier, nov II. in 1918. and was sold
recently through the Bryn Mawr Trust
Comp%ly. That institution has been
warned h. receivers nol 10 pass any
fund, to Mrs. Di"r in settlement.