The New York herald., 1922-03-25
Brokers' Counsel Wants
More Time to Prepare
ST. 100000 Plan.'
G. A. STONEHAM ACCUSED
He Is Master Mind. Says Man
Who Claims Authority of
1000 Creditors.

Examination of Elmore ID. DER. head
of the bankrupt brokerage of +. u
DER Co, was adjourned yester-
day until April by Seaman Miller
referee. after stormy argument at his
offices at Rector street. The adj
Journment was asked for by Nash
lockwood. counsel for Mr.. DER, who
said he wanted more time to arrange
for getting further assets for the
creditors.
Charles A. Stoneham was described
as the master mind" III the Dier fail
ure by Daniel w Blumenthal, attorney
for committee Of creditors.
When Mr.. Blumenthal said that he
represented 1000 Dier creditors, Saul
5. Myers, attorney for the receiver
precipitated an uproar by taking issue
with Mr.. Blumenthal For more than
ten minutes Mr.. Miller was unable to
restore order, the lawyers calling each
other bitter names and threatening tc
resort to blows.
Dfer Not Recognized.
During an hour and a half of argu-
ment. DER sat in the witness chair
waiting to be sworn, and did not say
word. When he arrived with his
counsel, none of the fifty creditors
present recognized him. AT the last
meeting Of creditors. the mention ot
Dier's name had been the signal for
outbursts OF Indignation and cries OF
'sn der" and thief!
~ Lockwood said no good could re-
suit OF examining his client now because
wealthy friends" of Dier are working
to raise the assests to more than
81, ,O00, ,0c0. He continued
These wealthy friends of my client
are greatly annoyed by the undue pub
licity in this case. They were very
much disturbed by the report of the
creditors meeting at which Mr.. Dier
was termed 'swindler. If we have more
venting these men from promoting the
scheme"
Banton's office Interested.
That the District Attorneys office
has become interested in the Dier ex-
aminations was disclosed when Vincent
s. Lippe of that office accused the re-
ceiver. Manfred w, Enrich. of OBJ
structing the District Attorney in get
ting information for criminal prosecu-
tions. A second setto between Mr..
Lippe and Mr.. Myers, with Mr.. Enrich
also included, ensued. Mr.. Miller closed
IL by saying I've are not interested In
or espousing the cause Of the District
Attorneys office
When Mr.. BlumenthaI said Ross +.
Robertson, Stoneham and DER were
partners as far as the law is concerned
Mr. Myers shouted that he would not
stand for any insinuations, and he
warned Mr.. Blumenthal to be careful
about his charges. The two men finally
invited each other into the hall: neither
accepted the challenge.
Arthur G. Hays, counsel for the re
cciver, opposed an adjournment until
lockwood gave evidence of good faith
He said:
LET him place 100000 on this table
as indication that his plan Is soms-
thing more than vague hope or a
promise"
Mr.. Enrich told the creditors he was
against any settlement TO include min.nc
stocks as a part payment. and said ca sll
must be raised.
Regarding the Ell Progresso minina
project, for which Dier expects to obtati
backing from his friends. J.. Barton
case, representing Western creditors
said engineers OF client Of his mad
reported that the property could be de-
veloped and would pay, but that the
naturalization of capital invested
would be slow.