New-York tribune., 1922-06-28
Court Permits
Compromise by
DER Creditors
Settlements Amounting to
s5OO.OOO Include Stone
ham Offer of S2OO.O00
Not Finally Accepted
Vote Taken by Receiver
Claimants Given Chance 10
Decide if They Prefer Al
formative of Filing suit

Judge Hnck IN the United States DIS
tric; Court signed q petition Yesterday
permitting tho compromi7e of claim, o.
The CREDITOR 81 T.. ~ der 4 Co..
amounting 70 100000 Included M tho
lis, Of proposed settlements F tho
5000 600 which Charles =. S.oncham' ~
tho New iors Giantr. agreed 10 con
tribute 10 the creditors fund.
Although -" Stoneham offer o.
listed among the assets. tne receiver,
Manfred " Enrich, is sending ont =
baiio, 10 all creditors 20 give them o
chance 20 vote on whether or not tre
moneg shall M accepted The alter
native is 20 hle suit against stone
ham 4 Co.. who sold their businc.1 10
+. u. DIE & Co. whicr failed in
January.
II a ictte~ sccomnarvnc fhc Stone
ham ballot. signed hv IN" receivers 2
asior.cy. E. Was stated thar oJf oi
si,fv stock brokerage failures dFriug
recent months. no Dier failure i- The
oniv one in which tf~ receiver h"r
succeeded 20 collecting am cons dcr.
ahrr sums OF money. "fhif hos hcen
accomplished oniv bv intensive caori.
the letter says. and particularly hy
applying tho seycrcs' Kind o. pressure
20 every ono involved
Calls Operations Larceny
Elsewhere the letter says:
we agree with Joab n Bantou. DE-.
t-ic' Attorney o. tho County Of Nrw
York. that the taking % tho money
from the creditors IN this case l. 30
every sense o. the term larceny. We
also believe thai tnosr brokers VINO
accepted large sum Of money from
De- & Co. Which morevs wefc tnc
proceeds or iiicg timatc Transaction.
should be required % make restitution.
we Rave definite Nand reliable 'r.
formation that cash and securi'ic'
were sccrotcd by Dior and MS afsn.
c.atcs before bankruptcy md actual y
transferred by them after bankruptcy
This is very serious oferse and orc
which Will no doubt be inquired mo
by the proper authorities
Tho settlements obtained are listed
as: Hcn.y D. Hughes. 100000; Eti'r
Road Dier $3.50: Lawrence n. starr
$4,000. Benjamin ?. Shrimpton. S25-
600. Charles 4. Stoneham. $4,000 0,
Ross T. Robertson. 100000. "Anony-
nous Broker $4,000 and $500.
Other Actions Instituted
In addition. if is stated that pro-
cccd:ngs are being fascn agains' stock
Exchange and Consolidated Eycnance
brokerage houses and against en-
pioyccs and associates IN the persons
o. Fred Andrews. Bernard 4. Andrews.
August Stroh. Adam Reickh"in. Ben
,smir Nathan. Harry J. Lawrence IT,.
William Roche. Carl VI. kncafs. ". Z.
n. Clnch. Benjsmin ;. Shrimpton.
INK" Russell John H. frobishtr and
Percy Thomas.
4 hearing will be held BE- Judge
Mack on Juiy ~ 10 y. M.
As result % tho testimony q. +.
Franklin Gaincs a. the secret hearing
on June before the referca IN bank
ruptcy DER will be- questioned ou
Friday as 20 ne connection with the
Mutual Capital Corporation. 3i1 mad
son Avenue. This concern was organ
ized hy Dennis Cara. VINO has dis
appeared. ard others identified With
the dcfunci ?. D. DER 4 Co Among
these are ". G.. Mclaughlin. engineer
% Dier's r. Progrcsso mirc. and Swing.
Dier's hroiher-in Jaw. Raymond y
BOND. who had desk room 'he.c. SAID
ne frequently had seer pier conferring
w!th Cara a. the Mutual Capital
Corporation.