The New York herald., 1922-03-14
Giant Owners Testimony
Before Receiver Here
Finally Verified.
CREDITORS TO COMBINE
Stories of Heavy Losses by
Foreign Born and Elderly
Persons RecOunted.

Several new developments in con-
nection with the $4,00O.000 failure Of
the brokerage house of p. D. der &
Co. became known yesterday and in
dicated that further investigator into
various phases of the failure are to
follow.
It was definitely established for tie
first time that Charles A. Stoneham,
owner Of the New York Giants, had
been examined by attorneys for the
receiver, Manfred w. Enrich.
what we want" said o. p. Car
penter, 154 Nassau street, attorney for
the creditors committee, "is a search
ing investigation of a number Of
things. One thing which interests me
greatly, and which / would like some
enlightenment on, is how much OF the
Dier money is planted in Canada or
Cuba.
"It seemed very funny to me when
Mr.. Shrimpton told the attorneys for
the receiver that he would lave to go
back to Canada to get the $4,000,
which was to be his contribution to
the creditors fund. He went back and
got the money, and I am wondering
If he knows where there Is any more
money to be lad. The whole failure
Is rotten to the core and must be in
vestigated until every detail about it
is known"
Want New Examination.
A demand for another examination
of Mr.. Stoneham and his associate,
Ross f. Robertson. will be made by
several of the attorneys for creditors,
it was said. General dissatisfaction
with the proposals that the creditors
accept partial payment was expressed
everywhere and the majority Of the
creditors, through advice of their coun-
sci have virtually decided not to ac-
cept any sort of settlement until after
further Investigation.
Considerable mystery has cloaked the
questioning of Mr.. Stoneham. Arthur
c. Hays and William Abramson, coun-
sci for the receiver. who have been
conducting the examination OF wit
nesses. have intimated that Mr.. Stone
ham never had been questioned.
Alexander Gilchrist, Jr, special COM
missioner said he had sworn both
Stoneham and Robertson TO give testi-
mony, and that the hearing had been
conducted and that both Of the men
had testified and then returned to
Havana. The details of their testi-
mony are being kept secret by Mr.
Hays and Mr. Abramson. No copy OF
the testimony of either of the men has
been fled with Commissioner Gilcnrist
despite the fact that the examination
took place several weeks ago.
ont for st1Ii More Assets.
That no acceptance of any settlement
would be agreeable at this time was
made clear by both creditors ana tnei.
attorneys They feel that there should
he \ united effort TO investigate and II
nossible recover more assets. a mass
meeting Of all Dier creditors in this dis
trict Is being arranged for next Week.
In referring to the offers made. Mr..
Carpenter said:
"Mv clients will accept neither the
5000. 900 nor the S2.000.000 rumored 10
have been donated by Mr.. Stonenam' or
by anyone else. We feel tnat some =,
tho sd 900. 900 is somewhere about and
we intend TO follow every lead to restore
ne much of the money as possible.
Startling Developments were promised
shortly by several OF the attorneys. VINO
have been delving into certain parts OF
,he testimony taken at the hearings
These hearings will be continued some
time this week. II was said. but the at
torneys for the receiver, Hays Wau-
hams, would give no definite oate iof
them" 49,, .,a
r,tor firn, had lost their life savings
through the crash of the house and are
virtually penniless were cited. Ainons
,ha,,, we're many of foreign birth ana
aiso elderly persons, who said that they
mad little knowledge of stock transac-
lions but had had implicit faith In tne
firm and the partners who represented
II.
Dcmand Calling of DER.
,,ssa.,sfaction was expressed that
II =, Dier. head OF the brokerage, had
not been examined by the receiver and
..had been permitted to go. to Florida
,,,tho,,t any sort OF questioning"
demand for his appearance will be made
soon by counsel for the creditors
John ". Mcintyre and Earl A. Dahl,
who were employed In the DER hrm
before the failure and attempted TO form
an "insurgent" group or creditors, nave
started suit against the creditors com
mittee for s97, which they allege they
expended in calling together the meet
Ing at Bryant Hall on January 20.
A short time ago Mcintyre made
charoea against the way the attorneys
for the receiver were conducting the
examinations and also endeavored to
collect s5 from each of some 5000
creditors when his activities were cur
tailed by Judge Mack In the United
states District Court. A general denial
If the case was entered for the COM
-. ~. Mr. Carpenter