The New York herald., 1922-10-21
FEDERAL NET TRAPS
26 in POSTAL THEFT
OF $2,5OO,OOO HERE
indictments in st. Paul In
vOlve Banker, Brokers
and Woman.
NINE ARE ARRESTED
Investigators Find Securi-
ties Offered in the Twin
Cities.
LIBERTY BONDS TRACED
$4,000 Wrapped in a News
paper One Clew i'm the
New Inquiry.
LIBERTY BONDS TRACED

Special Dispatch to THE NEW YORK HEGAIp.
ST.. PAUL, Oct. 20.-Charged with
conspiracy to defraud by sale Of Sc
curities stolen In the s2.5o0oO0 mail
robbery in New York October "a. 1921,
twenty-six persons. including bankers.
brokers, stock statesmen and at least
one newspaper man were indicted by
Federal Grand Jury here to-day.
Announcement of the indictments
was followed by the arrest of eight
men and woman, alleged to have par
ticipated in what United States Attor-
ney Lafayette French described as a
nationwide ring for disposal of stolen
securities, of which st. Paul and Min
neapolis were headquarters.
More than 100000 OF Liberty bonds
and securities stolen In the New York
robbery. according to Mr. French. have
been disposed Of among investors here.
The investigation here was under direc-
ton of Postal Inspector +. l.. Reidy
of New York. The ST. Paul indictments.
Mr.. French said. are the first steps in
a nationwide campaign to round UP
principals and Intermediates in a ma
tional mail and bank robbery ring.
Only six of the persons named in the
indictment are Twin City men. The
others are in financial circles In New
York and Chicago, through which the
gang Is alleged to have worked.
Those arrested and arraigned and out
OH bond are Stanley Mccormick. invest
ment broker; Mrs. Stanley Mccormick
Arba Perry. investment broker; \. u.
Christopherson, president OF the Midway
State Bank, 4s9 North Smelling avenue,
st. Paul Lucian T. Young. vice-presl-
dent of game bank; Arthur w. Lind
bloom. real estate dealer and bond
broker; Allen c. .Eussey. w. II. Bussey
and Henry Sorlien.
Most or the stoler securities, Mr..
French said. have been recovered by
Federal operatives. The most recent
recovery. he said. was 5000 of bonds
stolen in tho New York robbery, which
were found In the hands of an innocent
Investor
Mr.. French SAID evidence was pre-
sented TO the Grand Jury after the Gov
ernment had brought the pick OF Its
Federal agents from the offices at New
York. Chicago and sar Francisco here
to work with local agents OF the Post
Office Department.
First information that the stolen bonds
were being sold in st. Paul and Mime
apolis was received from Forest Secor,
president OF the Fourth Avenue State
Bank. Minneapolis.
Mr.. Secor to-day said one of the in
dcted men came TO him with proposal
10 make $4,000 or $4,000 in few days.
After numerous telephone calls, In which
the man represented himself as Fed
eral agent inquiring about stolen bonds
to see II Mr.. Secor was safe he finally
appeared. Mr. Secor slid. with $4,000
wrapped in newspaper. Mr. Secor
turned over the bonds to the Federal
authorities and the man was followed.
Last spring. Federal operatives said
to-day, they planned TO intercet an
Intermediary carrying several hundred
thousand dollars worth Of the stolen
New York securities from Chicago but
premature publicity upset their plane.