New-York tribune., 1922-02-17
NacMasters & Go. and
Anderson. Brown 4 Go.
Forced Into Receiver.
ship: Former Expelled
Demand for State
Supervision, Is Made
President Of Consolidated
Says Ii, to Members
Are I3eing Investigated

The District Attorneys Office was in
TONED last night that two brokerage
Norsc rs. ~. NacNastors & Co, OF 81
Broad Street, and Anderson, Brown &
Co. Of 50 Broadway. had gone into the
hands of receivers. The latter company
IS under Investigation by the District
Attorney and /. was reported that the
books of is Cleveland branch were
seized by county PROSECUTOR
MscMasters K Co. were expelled from
the Consolidated stock Exchange yes
terday on charge Of violating the
rules. W. $. sakworth.' president Of
'he exchange, said repor. Of the CON
ceIn's acttfitios would be- made to Dis
trict Attorney Ban,on to-day. He inter
preted The jnfraction A. "buckctinc.'
III exchange head also announced
that general investigation of the 47s
member was bring conducted and that
any found guilty of violations would be
expelled Ue declared the exchange was
cooperating with the District Attor-
ney's Office in the fraud inquiry and
that. i'm his oplulon. the Legislature
should take action to require the
licensing Of brokers, IN order to per,na-
aen.ly stamp out the buchetshop evil.
secs Little for Creditors
Soon after tae news Of the expulsion
o. NacMas'ers Co. became known on
the stree' lavld W Kahn. an attorney,
o. l9u sbfoadway, said he had filed on
behalf OF creditors CT the firm al invol :
aatary petition in bankruptcy III the
United states District Court. lie said
Robert F. Stephenson was named re-
cciyer, and that the firm had liahi1;+;eS
q about $500 600 and assets Of about.
sb000Q
COUPLED with a report from, Clevo.
land that the county prosecutor there
.sd seized 'he books Of tho branch Of
Anderson, BrowN & Co. the District
't'o'lef Office received information
5fat '1e 'irm had failed, and that
heflea t.embaurn, Of l65 Broadway
hso o'eh appointed receiver Two local
- SsV'pf'4iits = -a'nsll, Ar3e,ton. Prc,.--, &
20 are lnGet iusGstiea9ltn bN fsoc Inx.
uci Attorney.
detectives who went to the main
'n &C OF 'he company at 50 Broadway
a'e yesterday, found that the receiver
"a iah'l posses sion
- hen we lacked up tho wagon "a
the books and napers wc wanted
Is evidence, We learned We were 100
fhe detectives reported to the
'i7ir'et Attorney. THE same thing has
naNHened before. We We're just too
o asst month 10 get evidences at the
once OF Dler Co. which also went
INTO ,he hands Of receiver"
Heavy Bail in Bucket" Cases
Nlle District Attorney Ranton's as
s.slfn-s were presenting further fraud
evidence to Che additional grand Jury
yesfesdHF Judge Joseph L. MNqueen
IN O. noloi Sessions served warning on
bucket shop operators BY fixing the bail
ei Frank Niniter and Howard T. Stan
ley. arrested Wednesday, on charges OF
Grand larceny and hacketine. at 100000
each
Several gew bucket shop cases will
&c presented o both thc Supreme Court
grand Jury and the Genera Sessions
-fanl iWs to-day, District Attorney
3ai -Qr announced
An sddif oral development in the
oucaet sncp o. pose yesterday was The
continued search by detectives Of the
.*tfict Attorneys oNlce FOR six men,
~.aeged IN az Indictment disclosed on
wednesday 10 be implicated with
Ssmue' 7. Greenfield i'll feecing David
...arciner wealthy capitalist. out Of
- s>.t'YJo Greenfield Is at liberty on
N'-7yQ nal he other men are re
rorted hg TIE District Attorneys Of
Aee to ts fngieives.
District Attorney Banton said he
lad been Informed Of The expulsion
rom - ~.
p the NacNa tcrs firm. The partners
~ lac Masters q Co. which was or
.,anizeo about two years ago, are John
:, =. NacNas.crs, Of 1876 Argyle Street,
siookiyn, his son. X. II. MacMastors,
,,a James Corcoran. The elder Mac
Masters tine husband of the late
ir-rtlnu.d On rarc tt,rnel