The New York herald., 1922-03-05
CURB. STOCK HOUSE
in RECEIVERS HANDS
Ernest Fl. Clarkes& Co. Said to
Owe 100000 and Have
S250,O00 Assets.
DES CHAMPS BOOKS GONE
Key to Montreal Deposit Box
Sought in Effort to Find
Securities.

Securities.
Ernest III. Clarke, curb broker, trad
ing as f. II. Clarke & Co.. 3 Rector
street, went into the hands of a re-
ceiver yesterday. Clarke's creditors
and their claims are: William Kobe,
$500: Walter Z. Wills, s32. and the
Polygraph Printing Company, $50.
The petition for receiver estimated
the liabilities of the firm at $400, 900
and the assets at s250.008. Judge
Learned Hand in the United States
District Court appointed David Hunter
Miller receiver under $4,000 bond
Hays & Wadhams, 43 Exchange
place. attorneys for Clarke & Co., made
the following statement:
"E. II. Clarke & Co. have deemed it
advisable to place their affairs in the
hands of the courts in order to pre-
vent preferences among their custo-
mers For the past several weeks
they have suffered a loss on them
similar to that which has caused so
many other brokerage houses to ,iqui-
date.
"A continuation or business would
have resulted in dissipation OF the quick
assets on hand and would have left
nothing but slow assets to protect those
customers who had most faith In them
We believe they win be In position to
make satisfactory settlement with
their customers. and with the help OF
their friends they hope to reorganize the
firm in the very near future"
Says $1,000 Is Withheld.
w. 0. Custer OF Massillon complained
to the District Attorney that he had put
$1,000 with Clarke & Co. and that he
could neither get back his money nor
the securities which he had asked them
to buy.
An order appointing Harold Reming-
ton receiver for Schulkind Brothers,
stock brokers. Of 80 Broad street, was
signed by Judge Hand. The firm con-
sisted OF David C. Schuilxind and Sam
uel Magid and was taken into the bank
rdptcy court Friday on en- involuntary
petition filed by three creditors.
Accompanying the order was a petit
ton stating the Arm has assets of about
$4,000, part Of which Is a seat on the
Consolidated Stock Exchange. The re-
ceiver's bond was fixed at $4,000.
Des Champs Books Gone.
Word from Montreal advised that the
books Of A. J. Des Champs & Co.. New
York brokers, with a branch in Mon
treai, had disappeared. The only rec
ords OF the firm which Alan j. Hart.
trustee under interim receivership, has
found are one customers ledger Of doubt
full value and one other book which, IL
Is said. will be useless in unraveling the
firms affairs.
Besides the books. the key OF a safety
deposit box has vanished. This box Is
alleged 10 contain clients collateral. ac-
cording TO Mr.. Hart. Jack Abraham..
stock solicitor for Des Champs & Co..
told the creditors that there was 5000. 900
In collateral in the box, but so far as Mr..
Hart knows IL may be full OF peanuts.
Hart has communicated with Benja-
min Shuiman, who is in this city IN the
interest Of Des Champs customers, and
has asked him 10 try 10 find the key
and the whereabouts OF the missing
books. Montreal creditors who thought
fnCFr were SENhiitico NaSh iVi Nhehi
in New York have been informed by
Mr. Shuiman that there Is nothing left
They have lost between $4,000 and
500. 900. against which 80 far only 5000
cash has been found.
Mr.. Abrams estimated the unknown
contents OF the safety deposit box at
$40, 1000. but Mr.. Hart and the creditors
arc dubious about IL. Further claims
arc expected. Il Is said.
900 Clarke Customers in Chicago.
Special Dispatch 10 THE NEw yorK HERALD.
CHICAGO, March 4.---Nearly 400 Chi
cago investors are interested IN the fall
ure OF IT, II. Clarke e. Co. OF tho New
York curb market, and with branch
ONCE here at 10s South La Sale street
I've were doing good business
here" said Charles Madden, cashier OF
the Chicago office. 1--WE had between
$50 and 400 accounts have no idea as
TO how much money Chicagoars have
invested with MS"
Hc added that Il. III. Clarke had
wired that the situation was not half
as bad az IL looks" and expressed hope
for an carly reorganization.
vermont office Closed.
BURLINGTON. VT. March l.--The local
or1ce OF II. II. Clarke & Co. New York
curb brokers'. whose failure was an
rounced to-day. closed it's doors on
word from New York that a 'contem-
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