The New York herald., 1922-07-27
E. W.WAGNER SEIZED
IN $1,000 CIVIL SUIT
Three Of Brokers' Associates
Also Defendants in Action
by Customer.

Emil w. Wagner head of the bank
rupt brokerage firm of e. w. Wagner &
Co. Of 33 New street and his associates,
Ernst Tietgens. Charles A. Johnson and
Frank Donaldson. were made defendants
yesterday in a civil suit by Oscar M.
Steinmetz of ESQ East Fifty-third street.
former client. He sued in Supreme
Court for $s.050.5o which he alleges they
commingled with accounts OF other GUS
toners and converted.
The action disclosed that Wagner had
been arrested last Saturday on an order
signed by Justice Marsh based on an
affidavit by Steinmetz. Wagner was
released on $4,000 bail.
Through his attorneys, Watson Har-
rington & Sheppard of 2S0 Broadway,
Steinmetz alleges that the amount OF
damages he seeks represents his account
In Stocks and cash as of December ID.
1921 He says that on December 13 he
delivered to the branch Office at Madi-
on avenue and Forty-second street four
certificates of stock of the Chile Cop
per Company, three for 100 shares each.
and the other for seventy shares. On
that day an9 the day following he al
leges that the firm sold at his request
200 shares on which he claimed
$3,080.50 net return to his account. On
December 10 he gave an order to pur-
chase 100 shares of preferred stock of
Erie at $1625 share, which, with ITO
shares Of the copper stock and 81, ,44O.5O.
he alleges was his account as of that
day.
Within a reasonable time after the
alleged conversion when he could have
replaced the stock. says Steinmetz. the
value and market price OF the copper
stock was $23 a share and the Erie
stock had mounted to $27.75. He asks
for damages on that basis
The records of Sheriff Nagle's office
show three other arrests growing out
OF civil actions aggregating nearly s12,-
600 on stock deals. All furnished bail.
Harry A. Cochrane of Harry A Coch-
rane & Co. of 81 Exchange place was
arrested on complaint Of Joseph Hajek
former customer, who alleges that he
gave him $1,000 In January with which
to buy stock Of the North American
Company. Hajek says Cochrane bought
the stock and sold 1t at a profit OF
$155.5O, which he refused to pay In
February he alleges that he gave Coch-
rane $500 with which to purchase fifty
shares of stock or the Pullman COM
pany. These. he claims. were never
purchased. Cochrane furnished $4,000
bail.
Louis II. Baker, said to live at b64
Riverside Drive. was arrested on COM
plaint of Irving Richman In an action
in the City Court and released In $1,000
bail. Richman says he was induced to
purchase stock in the Acme Food Prod
ucts Corporation on Bakers representa-
tions that as secretary and treasurer he
could get the stock for him. Bakers
firm was in the hands of receiver, he
alleges, before this transaction took
place, and the stock, in his opinion. is
valueless.
Thomas F. McGrath, formerly with
Andrews & Co., at 81 Pine street, fur
nished $4,000 bail after being taken into
custody on complaint of Albert G. Dim
merling, who alleges that he was induced
to invest $4,000 with McGrath and
others in stock of the Dictograph Prod
ucts Corporation and the Standard Cap
and Seal Corporation. This stock, ac-
cording to Dimmerling, was never de-
livered to him and he believes it has
no value.