The New York herald., 1922-02-22
7 new INDICTMENTS
LIKELY IN BUCKETING
Steady Flow Of Complaints
Hampers Prosecution
Before Juries.
PRAISE FOR 'HERALD'
Newspapers Articles Have
Saved 100000, Says
Schneider.
PRAISE FOR 'HERALD'
MINITOR TRIAL SPEEDED
Three Men in Lowy Case Lose
Fight for Liberty on Lar
ceny Charge.

Complaints against bucket shops
continued to pour into the District
Attorneys Office yesterday from all
parts of the country. The assistants
were kept so busy that it was found
exceedingly difficult to present cases
completely to the grand juries. Never
theless, new indictments, possibly seven
tomorrow.
The new indictments may not charge
grand larceny, but bucketing and trad
ing against a customers account. The
more difficult for those indicted to set
up a technical defense. The indict-
ments so far charge grand larceny.
In many cases brokers have executed
orders formally and then have offset the
transaction by making exactly the same
trade, in reverse order, for the account
of the house. The actual effect has been
that of bucketing, but the broker might
be able to demonstrate that he actually
carried out the customers order to the
letter
The presentation of evidence to the
Grand Jury continued, but no new in
dictments were found. Nor were any of
those already indicted, but not yet in
custody. apprehended. 1t was said there
Is little concern, as to the whereabouts
OF most of them are known and they
can be seized at almost any time.
In the case of F. Oppenheimer & Co.,
brokers. of 90 Broadway. thrown into
bankruptcy on Monday, Bertha Rem
baugh, was appointed receiver for
Frank Oppenheimer and Edward l..
Bobst, members OF the firm, with a
bond of $1,000
In the mail received by District At
torney Banton were letters on the bucket
shop question from Massachusetts, New
Hampshire. New Jersey, Pennsylvania
Georgia, Texas and Minnesota. There
also were many visitors who had tales
of woe. Some of the new complaints
had to do with the affairs Of r. III. Mac
Masters & Co. and others with the firm
of Kohler, Bremen & Co.
Praise for "Heraldo Articles.
Many of the complainants were inter-
viewed by Benjamin Schreiber. Assistant
District Attorney. who said later:
Il can't help saying that the articles
on the bucket shop evil in THE New
YORK HERALD, have saved prospective
investors really millions Of dollars in the
last few weeks. / don't think the news
papers ever did better job.
Men and women who were about to
invest their money have come to me and
told me tales indicating that they have
been made extremely cautious and that
before putting up their money they have
~lat y has intr ioaf "a
people have. come in to me, usually with
copy of THE New YORK HERALD, and
have been able to point out to me wnere
in some transaction or other in which
they have engaged they have been VIC
timized. There is no doubt in my mind
that because of the wide publicity that
has been given the subject and the edu-
cational value of THE HERALD's articles
not less than s3,O00.0oO has been saved
to investors"
"Producers Frightened"
Another result of the campaign that
has been carried on was noted by Dis
trict Attorney Banton, who asserted:
IF we haven't done anything else we
have certainly cleared out of the hotel
lobbies and lounging rooms the horde Of
men who were there simply to prey on
the unwary VINO came to this city from
out of town. There is no question but
that there has been a marked easing up
In solicitation"
The case against Howard E. Stanley
and Frank Minitor of Minitor & Co., 25
Broad street, was on the calendar and
was assigned to Part III, where 1t will
come up for early trial. probably before
Judge Mancuso. This is likely TO be the
first of the bucket shop actions taken to
trial. 1t Is the case in which Judge Null
queen set the bail at $4,000 for each
defendant.
Justice John Ford dismissed writ
sued out by three of the members of the
firm of H. III. Lowy & Co. of 1913 Broad
way The Justice said the whole affair
was an attempt to make the Supreme
Court a court to review the actions of a
tribunal OF concurrent jurisdiction. He
remanded the men 10 the Tombs, where
they had been on $780, 900 bail, but AN
appeal will be taken to the Appellate
Division.
The indicted men are Harold M. Lowy.
Martin Tchlessinger and Albert Fried
man. They pleaded not guilty to two
charges of larceny, one involving $1,000
and the other $4,000, preferred by Mrs.
Jennie Brolles and Mrs. Barbette Beck.
Both women charged they had never re-
ccived stock for which they had paid.
There were current in the financial
district reports regarding T.. W. wagner
& Co, which failed more than month
ago. Ono report was that the firm
would pay seventy-five cents on the DOL
lar, inasmuch as the cash available now
amounts to approximately fifty cents on
the dollar The total liabilities are about
sS,0O0,0 900 and che quick assets are said
to be about s5,300.000.
From well informed sources 1t was
learned that the figures mentioned In
the reports were substantially correct
ana n N-is intimated that tentative
offer had been made to the creditors Tor
.ayment of sixty-s'x and two-third
cents on the dollar.
NEWFOUNDLAND NAVY ENDS.