New-York tribune., 1922-03-30
Dier Insurgents
Ask Court for
Creditors List
Critics of Receiver Sign
Petition TO Get Names
to Wage Campaign for
Better Settlement Terms
Stormy Meeting Is Held
Enrich and Hays Fail to
Pacify Them; Criminal
Prosecution Is Demanded

rnent fund TO which Charles A. Stone
ham. broker-sportsman, has contrib
uted 100000, signed petition last
night asking the Federal Court to give
them access to the creditors list OF the
defunct brokerage house.
The creditors list, which 1t appeared
was in the hands OF Seaman Miller,
referee in bankruptcy, was the bone
of contention at lively meeting held
in Bryant Hall, attended by 100 credl-
tors, many of them women. At the
same time the dissenting creditors
gave vent to plimentary opin
ions Of DER and Stoneham, referring
TO the Dier failure as a robbery" and
demanding that criminal prosecution
be considered.
Manfred ". Enrich. trustee of the
Dier concern, and his attorney, Arthur
G. Hays, sought to spread oil on the
troubled waters. They urged the credl-
tors to await the development of
final settlement plan, but the insist
ence of the creditors that they would
not be content with anything like 20
cents on the dollar prevailed The as
spokesmen asserted, in order that all
the creditors might be canvassed to
obtain their opinion on a plan to fight
for dollar for dollar even after the
subm ssion Of the receivers PROPOSE
/ ton,
Creditors Urged to Hold Out
The meeting was presided over by
| Edward Parkinson, chairman OF the
i n 81
for the committee. and D. W. Blumen-
! thai, representing other creditors, were
among those who spoke in favor of
| holding out TO the bitter end. They de-
! clared that Dier and Stoneham, who
turned over his brokerage business to
! DER several months before the Dier
| failure, should be held TO stricter ac-
countability.
Receiver Ehrich and Mr.. Hays, who
remained in the rear Of the hall while
! the speakers assailed the Dier group,
asked to be heard when the subject of
! the creditors list was broached. One
! of the speakers had asserted that the
| committee failed to get any satsfac-
tion from Mr.. Hays when the list was
/ demanded some time ago.
/ Mr.. Hays was asked if be would use
/ his influence with, the referee TO get
I
of it is to the interest OF the estate
I | will cooperate" said Mr.. Hays heat
edly "But if it is the intention to use
I the list to damn the receiver and his
attorneys, I will not"
He denounced insinuations which he
said had been directed at the receiver
and himself.
No Claim Against Stoneham
/ Mr.. Hays said be could not see where
the receiver had any claim, supported
/ by law, against Stoneham. and ad-
vanced the opinion that Stonehams
contribution was good offer to accept.
"As for Dier," he pursued, ~ think
( he has broken every law, and think he
is going behind the bars eventually
! We haven't got cent from Dier.+There
But we are going to get for the credi-
/ tors all we can.
To Go After Other Firms
my next procedure will be to so
after the Stock Exchange firms that
dealt with Dier. My only worry is that
/ the Stock Exchange is going to expel
them first"
Receiver Enrich said that if the DER
creditors received 25 cents on the dol
/ lar it would be more than any creditors
realized before under similar circum-
stances. Opposition to a final plan of
settlement, he said would only mean
long, expensive and useless litigation
"As far as criminal prosecution is
concerned ] have nothing to do with
that" he went on. "My duty is to
get all the money can for the credit
ors, but | entirely agree with every
thing that has been said against
bucketshops. l agree that these people
ought to be punished. That is the
District Attorneys job. and l hope he
Will do a good Job
Receiver Enrich and his attorney
We're stormed with sallies from the
audience,
Owe want to put the stamp Of in
fanny on those who have swindled US"
cried one creditor. That's what we
want. We don't want money"
We do want money!" shouted an
other. "and that's why we want this
list. so we can find out for ourselves
whether the creditors all over the
country want to accept the 100000
settlement or not"
The petition, il was announced, would
he submitted to the United States Dis
trict Court within few days.