The New York herald., 1922-10-13
TRUSTEE Is READY
FOR DER DIVIDEND
Gives No Indication, However,
of What First Payment
Will Be.
S5OO,OOO IN SETTLEMENTS
But Court Says Suits Against
Exchange Houses Are More
Important.

Manfred w. Enrich, trustee in the
bankruptcy of f. d. Dier & Co., an
nounced yesterday his readiness to apply
to the United States District Court for
permission to pay a first dividend to
creditors. How much that dividend will
be he did not indicate, Sbut letters sent
out to creditors by Saul S. Myers. at
torney for the receiver. made it evi-
dent that no payment will be~inade until
large majority of the claimants against
accounts transferred to DER q Co. by
Charles A. Stoneham & Co. and Ross
Robertson, his Sformer partner, have
signed approval of the compromise with
Stoneham and Robertson. p
Two form letters were mailed out, one
to Stoneham creditors who have filed
claims but have not assented to the
Stoneham settlement, and the other to
Dier creditors of the same standing.
Settlements of S5OO,OOO Approved.
The letters set forth that the court
has approved settlements amounting TO
$500, 900 with Lawrence. Starr. Benjamin
T.. Shrimpton. Edith Read Dier, Henry
d. Hughes, Charles a. Stoneham, Ross
Robertson and an anonymous broker.
"A NC''NCNNS@
from Stoneham and Robertson. Ihey
are holding out until the signatures
are in.
The letter. says:
'.If we get the signatures of 10 per
cent of those creditors we Will get
$500, 900 from Charles A. Stoneham ana
Ross Robertson If we get the sigma
lures of S5 per cent. of those creditors
we will get $250.000. and If we get the
signatures of s5 per cent Of those cred
itors We will get 100000"
The letter advises that effort to OBJ
tain more from Stoneham and Robert
son by individual action of creditors
would be a lengthy and dubious under
taking.
The trustee has upset the transfer
O: stock in the building at AZ New
street to Charles J. Eisenlohr of Phil
adelphia, and sold the building tor
$237 500. subject to first mortgage
of S175.0OO and some carrying charges,
This is in addition to the 100000.
+ Suits against Fred Andrews formerly
cashier for DER & Co., to recover $780,
600 are set for trial at the end Of this
month.
The letter adds -
But by far the most important step
to be taken on behalf OF the creditors
is the institution of suits against cer-
tain Stock Exchange houses in this city
and elsewhere: These suits involve large
sums of money. We shall compel these
people to account for all their transac-
tons with DER & Co."
Criminal Trial This Month.
The criminal trial of +. d. Dier is
expected to begin before the end of this
month. 1t is held up now by a motion
by the defendant for change Of venue.
Harry Spering formerly manager of
Dier's uptown branch, has been indicted
upon a charge of receiving stolen prop
erty. It was learned yesterday.
The complaint according to Thomas
]. Geraty. who presented the matter to
the GraRd Jury, alleges that Spering
recently undertook to obtain from Fred
Andrews, formerly cashier OF Dier &
Co., a loan OF $4,000 on 100 shares of
Great Northern Railway. preferred. An
drews, II is said, checked the certificate
number with the records of the District
Attorneys office and II was discovered
that the certificate was one of $92, 900
worth of securities stolen from Clark.
Childs & Co. stock brokers of $50
Broadway, last summer.
X Spsring is said to have told detectives
that he was acting for a man named
Jordan. Detectives have been search
ing for Edward Gordon. the bond mes
senger who was sent by Clark, Chlds
~ Co. to deliver the securities to the
United States Trust Company at As
Wall street.