The New York herald., 1922-11-15
WASSERMANN TRIED
VAINLY TO GET LOAN.
Continued from First Page.

Il
personality, wide acquaintance and dar-
ing sportsmanship in business. He was
a great business getter. He wa an in
innate Of the Waldorf aggregation. OF
which John w. Gates and Richard Can
field were leaders. They made their
headquarters in the Hotel Waldorf
Astoria, and there planned their Wall
Street campaigns. some OF which were
history making in the street.
Eddie Wasserman was the broker
through whom a great deal of the buy
ing and selling of that group was done.
That was twenty years or more ago.
With the death of Gates the group dis
iutegrated. The years encroached upon
Eddie" Business for his firm became
less robust. Finally came the death of
Mr.. Wassermann himself.
1t was perhaps with the vision OF the
roaring DAYS of his father in his eyes
that young Wassermann chose death
rather than face what he anticipated
would be the inevitable verdict cf the
Stock Exchange when he should present
a report of insolvency.
In addition to it's large establishment
at AZ Broadway, the firm maintained
branches at 240 Fourth avenue and 5lI
Fifth avenue, thus adding to overhead
expenses in the face of diminishing in
come.
Mr. Lewis filed the petition in bank
ruptcy for the following creditors:
Isaac n. Speigelberg, with claim of
$4,000, elleged to be balance due on
stock transactions Warren Auerbach.
$50 brokers commissions, and Nicholas
-Ayres & Co., s2L12 brokers commits
sions.
Mr.. Lewis was unable, for lack of
time, to make much progress in investi-
cation of the firms affairs YESTERDAY
but will continue to-day. He said 1t APP
peared the bankrupts owed banks about
100000. secured by paper whose market
value would be in excess of $f,00OO O00.
The unsecured debts. he said. probably
would amount to $150.000. against wbicn
he has reason to believe there are assets
OF about s500.O00. including $4,000 in
stock certificates in the firms strong
box at the office.
Mr.. Lewis said the e-firnn's books showed
that call loans had been obtained from
the National Park Bank, the Irving Ma
tional Bank, the Equitable Trust Com
pany. the Chatham and Phenix National
Bank and the Fidelity y-tnternational
Trust Company, all of which were amply
covered by security. He said those
banks had been asked not to
liquidate their collateral under existing
conditions in the market, but to hold
them for higher prices in order that the
creditors nigh. benefit by the difference
In the loans and the amount realized
from the securities.
Notice of Suspension.
Mr.. Content was so shocked by the
suicide of his friend and the failure of
the firm that he discussed it with ap-
parent emotion. He not only had been
the boyhood friend of Jesse A. Wasser-
mann. but he had attended his wedding
to Carla Won Bergen. and made the only
address at Mr.. Wassermann's funeral
yesterday afternoon
The brief and simple services took
place in Hornthalrs Funeral Parlors,
597 Lexington avenue. The burial was
in Salem Field. Cypress Hills. L. I. At
the wish of the family no rabbi was
present. Mr.. Content spoke at the SER
vices as a close personal friend of the
dead man. Only the immediate family
and a few friends were present. In
cluded were his uncles, Jesse Wasser-
mann and J. w. Seligman and Mrs.
Seligman; his sister, Mrs. Joseph J.
O'Donohue; his brother. Edward. and
Carl Won Bergen, father of his former
wife. who was manager of the firms
Fourth avenue branch.
Mr.. Content told reporters that while
he could not say that Mr.. Wassermann
still loved his wife at the time OF his
death. he knew that the fact that she
had divorced him weighed heavily upon
him and was the cause OF constant
grief and mental suffering to him. They
were married in 1916. He described the
former Mrs. Wasserman as an unusually
beautiful woman of fine mental quail
ties. bat of coldness In her nature. He
said the divorce was granted upon
grounds of incompatibility and that no
misconduct of any sort was alleged
against Mr.. Wassermann. RE denied
that young Wassermann lived so extrav-
agantly as to contribute to the downfall
of his firm or that any member of the
firm lived in such fashion.