The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-04-28
TRAP trio SELLING
$4,000 MAIL LOOT
Detectives See Clearing Of
$2,OOO,OOO Robbery Six
Months Ago.
HEAVY CUT IN PRICE
U. S. Agents Planted as
Clerks in Brokerage Of
flee Arrange Deal.
DRIVER OF CAR IS KNOWN
Capture of Others and Recov-
cry of More Valuables
Are Expected.
DRIVER OF CAR is KNOWN

Bonds aggregating $4,000 which
were part Of the stolen shipment of
$2,000,000 of registered mail which was
seized when a mail truck was held up
MT Broadway and Leonard street last
October, were recovered Wednesday
by the post Office inspectors VIXEN they
arrester Louis Wolf, aged 80; John
Wolfe, IS, and Jacob B. Price, 50, on
a charge Of attempting to pass the
bonds for, sale. This became known
yesterday when the three men were
arraigned before S. NJ. Hitchcock,
United States Commissioner, and were
held in $4,000 bail each for a hearing
next Thursday.
The arrests resulted after six months
of tedious investigation and work by
agents under Chief Inspector William
L. Cochran and Inspector James j.
Doran. The robbery caused the plac-
ing of United States Marines on all
mail trucks and trains in this city and
the use of heavily armed trucks by
many large banking and Industrial
houses.
The captures Of Wolf and Wolfe were
made at the point of the pistol and
took place in the offices of a large
brokerage house. Price, who lived at
GOA West 17Sth street. was taken after
the arrest of his two companions while
he was attempting to pass other securi-
ties with another broker.
Quick Roundup Predicted.
A quick roundup of all those con-
cerned in the Leonard street holdup Is
expected soon as the result of the evil
dence obtained yesterday
For long time the suspected men
evaded contact with any of the "emis-
aries" sent out by the Pose Office De-
partment The bonds were being dis
posed of, but in small lots and at long
intervals The agents believe that the
major part Of the shipment Is still in
tact and will be recovered soon. Tow
ard the end of last week word came to
the postal men that man would see
them regarding the dispose. of these
bonds.
The agents had obtained the aid of
the brokerage house and posed as OPP
orators willing to buy stocks that bad
to be disposed of quis<sy or rapidly. Ac-
cordingly, they say. one of The trio
made a proposition to sell the SIS 900
bonds for 60 per cent. Of their value.
although nearly all are selling at par
or higher.
More than score of detectives from
the Post Office Depa rtment were planted
in various parts of the building in which
are the brokerage offices, and several
acted as clerks, customers and officials
for the afternoon. This was done after
several days of rehearsing by the agents,
and nothing untoward was noticed by
the two men who attempted to dispose of
the bonds.
Surrounded by Police.
At 3 O'Clock Louis VOL, and his COM
panion, John Wolfe, entered the Offices.
Even the elevator which took them to
the offices was run by an agent, and the
corridors of the building had several
postal inspectors. heavily armed. waiting
for any attempt to escape. Walking up
10 Inspector Doran. who had acted as
the broker" Wolfe asked to be shown
'the color OF the money" This was
nOHe, lnt 91u,UuU IN OlilS were lTduS-
ferred, the bonds were handed over and
then the signal came from Doran to
close in on the bond sellers.
When Doran said Hands up, boys -
his words were accompanied by the
drawing of a dozen revolvers by his
agents. They raised their hands, were
searched. handcuffed and taken to the
General Post Zee. In the offices of In
spector Doran the two men were put
through a grilling. Price, who had been
'doing business" in the financial district.
also was put through the lengthy ques-
tioning.
The identity of the driver of the au-
tomobile that carried the holdup men
in the Leonard street job Is said to have
been disclosed by one prisoner, and much
of the loot taken from the mail truck
will be brought to light soon, the de-
tectivcs sta ted. Inspectors Doran and
Cochrane considered the captures as the
key to the whole robbery, and possibly TO
several other mail thefts that have oc-
CURED within the last six months in
and about New York city
checkup of the securities which were
bought" by the agents showed that they
were all from the shipment of October
a. when the truck driven by Frank
Havranek was shunted into n side street
by the men in motor and looted OF
its s2,000000 cargo of bonds. jewels and
other valuable mail. The detectives
believe each of the accused men gave
ffpfitfaI n