New-York tribune., 1922-07-16
Fuller Creditors
ToPushHearing
On Bankruptcy
No Delay in Inquiry Because
of Indictment of Stock
Brokers on I3 Counts
in s5,0OO,CO0 Failure
Immunity Plea Hinted
Partners May Claim Right
of Refusing to Answer
All Questions Until Trial

No delay in ~. holding OF bank
yup,ey hearings IN the $5,Ooo'ooO faiI-
ure OF Z. N. Fuller & Co. is expected
4, was said yesterday, because OF the
,,S,etr.n. Of Edward NJ. Fuller and
William Fra.k McGee. the Fuller part
nays. who surrendered yesterday 70
.h. District Attorney. A date for the
first hearing will be set as soon as
the accountants have proceeded Tar
enough 70 give an accurate, II not de-
tailed, report on the status Of the
bankrupt business at the time the re-
eelver was appointed. This Will be not
less than a week hence.
The only change in the status OF
Fuller and Niece that can have erect
on the bankruptcy hearings, 1t was
said yesterday. is the immunity they
may be able 20 claim In regard 10
terrifying about certain phases OF their
business. They may claim the privi-
leg. Of declining 20 answer all ques-
t,ons On the ground that they are 70
eorne 70 trial on criminal charges.
Some relief was felt yesterday morn
Inc At the Criminal Courts building
when Fuller. McGee and their counsel
Arthur Garfield Hays, announced them
selves. Detectives had been searching
for the indicted men ever since they
failed 70 surrender Friday at desig-
mated hour. They we're taken before
Judge Mancuso, sitting in General Ses-
rons. who fixed bail and gave them
until Monday 10 plead.
Assistant District Attorney Benja-
min F. schreiber asked the court TO set
the bail bonds at $4,000 each. This is
the figure under which Z. d. der was
r,ieased last week. Mr.. Hays pro-
tested that this bail was excessive.
After brief argument Judge Mancuso
set $4,000.
Thirteen Separate Indictments
The exact charges under which the
mariners were indicted became known
when they were taken into court Al
tbonoh there are thirteen separate
inc a bucketshop but four individuals
arc named as compliments. The in
dIetments name separately instances in
which each complainant charges that
q specihc order was not executed as
directed.
The indictments charge that the fol.
lowing transactions formed part OF
bucketing operations:
Fifty shares Of Sinclair Consolidated
oil stock. ordered purchased by +. =.
Iink. a citizen Of Tennessee, May ~,
1922. for s1,757.50. Twenty shares ~
Standard Oil Company Of Indiana,
worth s2,l96.s0; ten shares Famous
Players-Lasky Corporation, worth
ss1s.1O. and sixty shares Middle States
OF. al sss3.26, all ordered sold by
Link. c.,,
dated ordered purchased by Alexander
Dolphin, Of Jamaica, L. J., for $soo.lS'
Nav 1s. 1922; same shares ordered SOLD
Nav 20 for S90463; fifty shares OF
Callahan Zinc ordered purchased for
$500 and ordered sold on May n Tor
s54S.55.
Fifty shares United Retail Candies,
ordered purchased May IS, 1922, by
Morris Gordon for S8si.25; fifty shares
additional ordered purchased June
for 1895.
Fifty shares Bethlehem Steel, or
dercd purchased on May ~ by Walter
A. Hartsel. Of Brooklyn, for S4,1ol.25i
100 shares Sinclair Consolidated, or
dered sold May 81 for sS,64S.5o; 100
shares Mexican Seaboard Oil ordered
purchased June Q for S4,6l5.
Sent Confirmation Of Purchase
The indictments also state that none
Of the stock was actually purchased, or
gold. although Z. NJ. Fuller & Co. sent
combinations OF purchase or sale,
either on the date specified or later.
These confirmations we're false, Mr.
sehreiber explained, in that the stock
was never actually bought, or sold. or,
~ Il was purchased, was Immediately
resold, leaving the customers 20 be-
lieye from the false combinations
\ which they received. that they were
either long Of the stock, or that it had
hAen sold for their accouuts