New-York tribune., 1922-05-06

'""'"''' "oNtNtI, indt theN were
amazed by it.
Lent Money to der
On the witness stand Nh Wilson
told of his business relations, such az
they wero, with the dcntist-broker.
DER. He had been Dier's attorney for
several years prior to tho $4,000, 900
failure last January and always be-
heved Dicr to be homes Dicr he
said, had stood back of a $4,000 loan
which Nc Mr.. Wilson, obtained from
Levy Brothers. of AZ Broad Street, last
year. and which DER later took up He
said he had frequently lent DER money
during the period when it was said
there was much talk Of on impending
crash of the DER firm. Wilson said
he borrowed the $4,000 to buy into
Carpender, Cafry & Co.
Carpenter, Caffry & Co closed is
account with E. D. DER e. CO. in No
Vember. l99l Wilson testified. when
It became apparent that Der was hay
ing difficulty in making good his obi
gaticns. There was never any agree
ment. so far as he knew. with either
DER himself or Dier's firm that could
be considered irregular.
When Carpenter, Caffry g. Co closed
out the DER accounts, Mr.. Wilson said,
ne required der TO pu. up 100000 IN
notes on the FL Progreso Silver Mining
Company, Mexican property and one
Of Dier's enterprises. to cover Dier's
Indebtedness. This was III excess Of
the amount due. Wilson said, and ne
had stipulated DER would be refunded
the difference between the sum al
which the notes might eventually be
discounted and what DER owed
"Why did you come down on him SO
hard 2" asked MI. Myers.
II tried to get all l could" Wilson
answered
Sees Hope in Silver Mine
Because you thought he was broke ?'
asked Mr.. Myers.
"By no means" replied Mr.. Wilson,
merely to protect the firm Wilson
expressed the conviction that Dier's
silver mine-referred to at a previous
hearing as a gold mine-was worth
millions of dollars and could be made
20 net the bankrupt broker enough to
satisfy all his creditors. He had yis-
ted the property five times as Mr..
Dier's counsel, he said.
Raymond D. Bond, an oil operator Of
Fort " Worth. Tex, who lives at the
McAlpin Hotel several months out Of
the year, was asked what he knew ot
Dier's connections with the Mutual
Capital Corporation, Of BAT Manson
Avenue The witness, who testlned as
an acquaintance whom DER sought to
Dier had dined together frequently
during the last several weeks. He SAID
that bier was interested IN the Mutua!
Capital Corporation.
The purpose of MIR. Myers's examna-
ton of the oil operator appeared TO pc
10 show that der, although bank
ruDtt so far as the L. D. der & Co.
business is concerned, is still doing
Bernard ]. Rice. certified public
accountant, testified that his personal
investigation and Inspection OF the
books indicated that Carpenter, Cafry
e. Co. had knowledge of L. D. Der d
CO. having engaged in method known
as notification of customers orders or,
as the witness described the method
the new style OF pucketihg'
Dier and his associates IN the broA-
erage business, allowed an Office boy 70
do their banking for them. cash cheeks
amounting to thousands of dollars and
DO other important errands. accord
ing to the testimony OF Charies
Mcguire, seventeen years old, OF liner
son, n. j., who was the employee IN
question. Young Maguire who is wiz
is father now in the real estate busl-
ness. said he frequently cashed checks
for the firm ranging from so,ooo 10
$4,000. That was when he was four
teen or fifteen years old