The New York herald., 1922-11-08
FRIENDS SAY missing
BROKER IS RESTING
Lawyer Expects Havens to
Return to Bridgeport
in Week.
ANTICIPATED A CRASH
Yachtsman Told Counsel
He Couldn't See Way
Out of Difficulty.
NOT HOUSMAN AGENT
n 4 u
NOT HoUsMAN AGENT
Was Only Private Wire Custo-
mer Of New York Stock
Brokers'.

Special Dispatch 10 The NEW soRK HERALD.
BRIDGEpoRr, Nov. With war;
rant out for his arrest on a charge of
embezzlement, James IT. ITavens,
stock broker and yachtsman, still Is
missing to-day, following his sudden
disappearance Saturday and the sub
sequent fling by his attorney of pc
tition in bankruptcy showing assets
OF $500 and liabilities of nearly $685..
600.
Acquaintances expressed the opin-
ion that he was in saaitarium in
Connecticut or New York and would
surrender within few days. Others
held the opinion that he was en- route
to Cuba on his yacht Sally which has
been missing from the Pootatuck
Yacht Club basin since last week.
The police have learned that Havens
knew several days before he left
Bridgeport that the crash was coming.
After consulting with his attorney
and making arrangements for the fill
Ing of bankruptcy schedule he said
he intended to leave Bridgeport "for
rest" and would return.
"kncw Crash Was Coming"
Asserting ignorance Of Havens's where
| abouts, Frederick b. Fallon of SS6 Main
street. his counsel. expressed conf
dence that the missing broker would
return to Bridgeport within a week.
George T. Mara, counsel for a majority
of the creditors. is not as confident az
Fallon.
He expressed the opinion that Havens's
flight was Eremeditatcd and recalled
the fact that Havens on Saturday after
noon called the assistant tanitor OF the
Security Building into his office and
turned over tc him all his books and
papers with instructions to burn them.
This the 1anitor did.
''Te undoubtedly knew the crash was
! coming" said Mara. I'VE are not
certain he Is aboard the Sally. The
| boat has been missing, since the middle
| OF last week. but Havens has been
missing only since Saturday. Nhethfs
/ he moorod the boat at some point down
the Sound in preparation for boarding
! 1t later we do not know. We would
| like 10 learn where the boat is. If for
no other reason than to place an at
tachment upon it"
Detective Capt John II. Regan. who
instructed his men to be on the look
| out for Havens, does not think Havens
Is attempting to lesvo the country on
his power boat.
Confided I'm Lawyer.
I'VE made inquiries among water
\ men last night" he said. land all of
them agreed that Havens would not be
! foolhardy enough TO attempt to reach
! Cuba In a boat of the Sally type at this
season OF the year. The Sally is a
speed yacht and In good summer.
weather could probably reach Cuba In
| five days. At this season of the year
| she would run the risk of shipwreck and
could hardly expect to make port in
/ less three weeks. My personal opinion
is that Havcns will be located within
week."
| Friday Havens called on Fallon and
told him that he was in serious finan-
cial difficulties.
I'm so deeply In debt I don't know
how I'm going to pull out" Havens
said. according to Fallon. II want TO
DO fair with all my creditors. I've got
securities scattered around. some with
Housman & Co. some with the City
I
much they will amount to. but they
won't como anywhere near meeting my
/ liabilities Don't you think the best
! thing for everybody would be for me
/ to file a petition in bankruptcy and let
| the creditors have an equal chance at
/ what is left?'
( Fallon was busy at the time and suS-
gosted that his client return Saturday
/ with a detailed statement showing his
assets and liabilities. This IIavens did
/ and II was decided to file the bank
ruptcy petition. You take care of this
, for me-" said Havens to Fallon. I'm
going away for a few days and rest UP
and then I'll be back"
This statement led his attorney and
the police to believ that Havens would
/ be heard soon
Questioned relative TO his clients
ability to raise a bond IL he returned to
Bridgeport, Fsllon said IL would depend
largely upon the size Of tho bond asked.
/ Unfortunately many Of his friends who
ordinarily would have been glad TO go
his bond are among his creditors at the
present time" he said.
Not Iousmsn Agent.
/ That Havens may be subject to prose-
cution In tho Federal courts for having
burned his books OH tho eve OF going
into bankruptcy was suggested by Law
/ ser Mara for the creditors. The list of
! liabilities shows s5S,000 in secured
claims and Si17.500 in unsecured claims.
| The secured claims are those of a. A.
Housnan e. Co. and the City National
Bank of this city. According to the
bankruptcy papers, Housman & Co. hold
| s5O,0o0 In stocks and bonds to cover
an indebtedness OF that amount. whilo
the City National Bank holds $4,000 to
cover an indebtedness OF $500.
| william r. Bull and t. c. Spargo are
among tho largest unsecured creditors,
according to the bankruptcy papers,
/ each being named as creditor to the
( extent OF $40, 900. Frank y. Jalley is
down for $4,000 and Fredcrici q. Lal-
/ ley for $4,000.
-------
| II was learned yesterday that Havens
Z Is not an agent Of A. A. llonsman &
( CO., stock brokers OF 20 Broad street. as
Indicated in the dispatches from Bridge
port Monday night. but was merely one
/ Of tho companys private wire customers.
! Edward a. Pierce, member Of the
arr, said yesterday that Haycnp never