The New York herald., 1922-07-08
der SURRENDERS;;
GIVES $4,000 BAIL
Says He Has Been Ill at
Park Avenue Home Since
Indictment.
OUAILS IN COURT ROOM
Then Becomes Genial and
Says He Never Took a
|. Dishonest Dollar
LOCKWOOD OUT OF CASE
New Attorneys Say Client Has
Been 'Crucified and Perse-
cuted' by Press.
LOCKWOOD OUT OF CASE

Elmore D. Dier. head Of the broker
age firm of E. d. Dier & Co., which
failed last January owing more than
$4,000,000 and who was indicted on
Friday with several of his office man
ayers, surrendered yesterday at the
office of District Attorney Banton and
was placed under arrest. arraigned
and released in $4,000 bail. He was
indicted on sixteen counts charging
grand larceny in the first and second
degrees and pleaded not guilty before
Justice McAvoy In the Criminal
Branch Of the Supreme Court.
Since the finding of the indictment
against Dier and his associates de-
tectives had been unable to find him.
Yesterday he announced that he had
never been outside Of the city, but
had been staying in his apartment at
b65 Park avenue and was not attempt
ing to evade the officers.
He has been very i'll with a middle
EAR he said. DR.. J. M. McTiernan
stated that he has been In constant at
tendance on DER since few days be-
Tore the indictment was found. Lieut.
Detective Edward Rayens said that he
and his men have had the Park avenue
house under surveillance for q week
and that DER has not been at that
address during that time.
Tanned by Park Avenue sun.
The head Of the bankrupt brokerage
RI
Tanned by the Park avenue sun, evi-
IDENTIFY. he had the appearance of a re-
cent vacationeer. He was in a genial
mood and greeted the reporters cor
daily and smilingly posed for the pho
tographers. who snapped him in sew
eral poses as he entered and left the
Criminal Courts Building. He flatly
denied he had ever done any of the
things charged against him in the in
c'ctment. or that he had any knowledge
A OF the manner In which his business
was being wrecked from the inside.
You know have been under an
awful strain in this thing: you can't
imagine how worried I have BEEN" he
said. 1T has been terrible the way I
have been treated. but I welcome the
chance to stand trial and have it proved
am neither a thief nor q bucketeer
have never been out of the city; have
not attempted to evade the officers of
the law and willingly surrendered my
self here to-day
He trembled when the Indictment was
read at his arraignment. and when he
was asked how he intended to plead he
was so nervous that his attorney sroke
Up and entered the plea for him. D,er
was much relieved when the party left
the courtroom. He stopped and chatted
with the attorneys and newspaper mer
for few moments and then rode or in
a snappy looking yellow roadster.
OF considerable significance was the
fact that Nash lockwood. the attorney
who defended DER all through the re-
ceiver's hearings. Is no longer in charge
of the case and will probably not de-
fend the broker when he is brought to
trial. DER has obtained the services Of
another lawyer. and it was intimated
yesterday that Rockwoods failure to
arrange any stipulation regarding the
DER books to prevent them from going
into the District Attorneys hands vas
regarded as laxity on his part and not
entirely In the interest Of his client Mr..
lockwood Is at present in Maine, where
he is defending some OF the defendants
an the Morse case.
Dier issued a statement through his
lawyers after he had been arraigned
and admitted to bail In this statement
st is charged that he has been "crucifed
and prosecuted by the public and press
on ex-parte statements made by men
whom he made and men that he stood
by in their time of need" Who these
men are is mere conjecture, but under
direct questioning by representative
of THE NEW YORK HERALD Dier admit
ted that one of the men In question Is
named in the indictment and another Is
not. He said that inside managers
wrecked his business and made him the
vgoat."
Are the wreckers of Z. d. DER &
Co. mentioned in the indictment?" he
was asked.
"One of them IL and others are not
guess you understand just what 1
mean
DER as the Hero.
The rest of the statement issued In
behalf of DER states that the trial will
develop features Of the case which have
heretofore been covered and will show
that Dier devoted his personal time, ef-
forts and money in an attempt to stave
\ off the failure of the firm. and that as
! far as he knows every order of the firm
was regularly executed in legal and
proper manner. The statement con-
cludes:
ANY moneys withdrawn from the
firm by Mr.. DER were for living ex-
penses based OIL his belief in his finan-
cial standing and nearly all of It was
turned back in an effort to save the
firm 1t was not his duty or function
10 handle the financial or brokerage end
of this large and extensive business,
which of necessity had to be handled by
employees in whom he had confidence
IN brief. Mr.. DER never took dishonest
dollar out of the concern and in no wise
participated In or had any knowledge of
pny so-called 'bucketing' Of orders or OF
any improper transactions"
The whereabouts of Il. +. Shrimpton,
blso named in the indictment and now
missing, is not known to DER, he said
nor are the whereabouts of others who
are wanted In connection with the case
District Attorney Banton and Assist
ant Benjamin +. Schreber were both
present when Dier was arraigned and
asked that high bail be fixed. Mr.
Echrfeber has been In charge Of the case
for the District Attorneys ONCE.
Dier said yesterday that he Is not an
American citizen but Canadian by
birth. He has applied for his first
papers, he said. He Is forty-three years
old, and gave his address yesterday as
665 Park avenue. He has homes In
Philadelphia and Atlantic City.
Max l.. Arnstein. $40 Broadway, Ii
pier's new counsel.