The New York herald., 1922-02-21
KOhler, Bremen & Co. Said to
Be Short $35O,O0O on Ac-
counts Of 800 Customers.
PRINTER IS PETITIONER
F. Oppcnhcimer & Co., With
Three Branches, Sued OH
S1,275 Claims.

Two brokerage firms were declared
bankrupt yesterday. one failing for
sS50.oo0, according to papers filed in
the proceedings. This was Kohler
Bremen & Co., SO Broadway, of which
tie late Senator James NJ. Emerson
was backer. The New York Stock
Exchange. as announced exclusively
in TIE New York HERALD on Satur-
day, recently withdrew it's ticker SER
vice from the firm
The second firm was f. Oppen-
heimer & Co. Of so Broadway. which
had branches in Cleveland. Pittsburgh:
and Ridgway, Pa. Complaints against
both of the firms lad been lodged wit 1
the District Attorney who is con-
tinuing the presentation of evidence
to the Grand Jury.
No new indictments were found. how
ever. and none of the sixteen men IN
dicted, but still at large was reported.
Kohler, Bremen & Co. had an elabora 20
suite on the fifth floor OF SO Broadway
and a membership in the Consoiida ted
Exchange. The bankruptcy petition wa
accompanied by an application Tor the
appointment OF a receiver. and Judge
Learned Hand in the Federal Court ap-
pointed Arthur f. Goothold. fixing a
bond at $4,000.
Lost Emerson Business.
The papers were filed by Saul s.
Myers, counsel for the Gilbert O'FarreII
Printing Company. which has a claim
for sS46. The firms liabilities were
estimated at 100000. consisting of sum
due to about 1,50o customers. The as
sets were estimated at $3.50. 900. OF which
about $4,000 was believed to be quick
assets. Leo Bondy. attorney for the
firm. which consists OF Arthur w. Koh-
Ter and Lawrence ri. Bremen, made this
statement:
by reason OF the suddent death of
Senator Emerson. specia, partner in
tie concern. there resulted large
sbrinkagc in business. The Senator had
large following which withdrew thci:.
accounts. and this, together with general
depression in business and the Continued
large overhead expense. caused the pres-
ent embarrassment. Had Senator En,er-
sen lived the situation could not have
existed because his financial support was
always available TO the extent OF our
needs. His death deprived us Of this
support"
Run for stocks Anticipated.
In the bankruptcy petition II is al
legged:
Upon information and belief the tick
ers of the said alleged bsnkrupts wero
taken out on February II. 1922. with
the result that large number OF Gus
toners have been demanding money
and securities. Some have been receiv-
ing money and securities. with the re-
suit that some creditors are being pre-
ferred over other creditors.
1T is expected that as a result OF the
ticlSers being taken out there will be a
run on the busness on Monday. the
Goth. and II is imperatively necessary
that r receiver be appointed"
At the offices OF r. oppenheimer & co.
there was not tho air OF prosperity and
stability apparent at Kohler & Bremer's.
No one In authority could be found TO
talk of the affairs Of the concern. The
members were Frank Oppcnhcimer and
Edward l.. Bobst. One OF the employees
said the company had no membership In
the Consolidated or the New York Stock
Exchange
The petition was filed by Henry Him
mel. who claims $500; Arthur Mincer,
who claims s425, and Robert Errir =.
ton, $50. y. w. J. Box r. attorney for
the bankrupts. The offices we're elab-
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