The New York herald., 1922-03-07
3 BROKERACES FAIL, .
6 MEN ARRAIGNED
Joseph d. Sugarman Goes
Voluntarily to Answer
Larceny Charge.
A OTHERS ARRESTED
Bail Fixed at From $4,000
to $4,000, Which May
Induce Surrenders.
BUCKETEERS IN JERSEY
Flock to Newark to Open Of
fices, Since Drive Fright
ems Them Here.
BUCKETEERs IN JERSEY

Involuntary petitions in bankruptcy
were filed yesterday against three
more brokerage firms. Four brokers
indicted on bucketing charges We're
arrested and two more gave them
selves up.
The failures were Ettinge & Wall
Of Pittsburgh with a branch at 81
William street; T. B. Mullins & Co..
1882 Broadway, and Emanuel, varcoe
& CO., 81 Broadway. In each case the
reason assigned was a run" caused
by recent agitation against bucket
shops.
A development in the situation was
the maiden appearance os several
brokerage houses with New Jersey
addresses. Since New York has be-
come too hot for them bucketeers are
cropping up in Newark ana Jersey
City and filing the mail with sucker
literature.
Lower Bail for Sugarman
Joseph D. Sugarman Of ]. D. Sugar.
man & Co., 10 Beaver street, was held
In $4,000 by Judge Grain in General
Sessions after Mr.. Sugarnan had sur
rendered and pleaded not guilty to an
Indictment charging grand larceny.
He was indicted last Thursday on the
complaint Of L. c. Barringer OF North
Carolina. who charges that on December
f6 last he gave 100 shares OF Texas Oil
10 the defendant to be used as collateral
and was unable to get it back.
Benjamin f. Schneider, Assistant Dis
trict Attorney, asked for $4,000 bail.
saying that several other complaints
have not been investigated. Philip c.
Samuels. Sugarman's lawyer, declared
the matter was purely one for the civil
courts.
Sugarman was the first to surrender
OF forty-one brokers indicted in the last
two weeks. Eight have been arrested.
Judge Mulqueen. who sat in General
Sessions last month. fixed bail at $50, 900
In these cases. but since Judge Grain
was satisfied with $4,000 1t is believed
other defendants will come forward.
Sugarman furnished bail.
Three Accused of Wash Sales.
The other voluntary prisoner was
Louis Kory of Kory & Co. AZ Broad
way, who also pleaded not guilty to q
charge of grand larceny. The indict-
ment charges him with obtaining $4,000
from Otto Best OF West 125th street on
a margin account. The firm failed soon
after Best entrusted his money to 1t.
Kory's bail was fixed at $4,000.
Detectives Fitzpatrick and Fay OF the
District Attorneys staff, and Meyer and
Brown OF headquarters, made the follow
Ing arrests in brokerage cases
William Herman. 1867 Broadway !;
James M. Graf, GA West 16ist street !;
Henry Spitz. 1854 Creston avenue. The
Bronx, and Frederick j. Mowry. Flush
ing, l.. ]. All except Mowry were in
dicted charged with making wash sales"
of stock in the California Crushed Fruit
Company. They loaded not guilty and
were held in 1900 bail each.
s4sO Larceny Charged.
Mowry was arrested In the District
Attorneys Office on a bench warrant
charging grand larceny He is sccre-
fary and treasurer of the Peerless Sc
curities Corporation. 81 Exchange place,
plant of william j. Gray Of Baltimore.
who charges Mowry got $3.50 from him
in a stock deal. The arrest was too late
for Mowry to plead or arrange bail.
lie was locked up in the Tombs.
Etiinge & Wall, who went under. were
member OF the Consolidated Stock Ex
change According 10 W. S. SillSworth.
president of the Exchange. James A.
rttinge was elected TO membership June
% l..tf tln HrrR, s@fa rad thfsrfr frcrt,
orher brokers. Mr.. SilSworth said its
business had "dried up
Allan d. Emil. representing the petit
TONERS. said the liabilities were approx
irnately $4,000, and the assets $4,000
TO $4,000. Judge Knox appointed Roger
g. Wood receiver under bond Of $4,000.
T. B. Mullins & Co. composed Of
Stephen +. Horgan and James II. Dew
snap, owe Approximately $4,000. with
assets OF approximately $4,000. ac-
cording 20 1sreal Brinkman. attorney
FOR the petitioners. Emmanuel varcoe
& Co, composed OF Mark Emmanuel.
William L. Narcoe and Isidorc A. Prem
owitz, have liabilities Of 100000 and
assets OF $4,000. IL was said.
Newark Gets Bucketeers.
In Newark IL was asserted that the
mousse cleaning begun by District At
torhey Banton has had the effect OF
driving the bucket wolves over the
river into Jersey. A series of new So
called brokers' letters is beginning 70
fili tho mails. most OF them with Jersey
addresses. Newark has been selected as
particularly good spot for these opera
tions
The eituation is about the same rs
rat experienced n year or two ago In
Maryland when, with the passage of
that States blue sky laws, the swind-
lers were driven into the District OF
Columbia. To protect itself from this
sudden influx OF financial Houdinis, the
District Of Columbia was forced to pass
's own ant-swindlIng acts and cause
them to move on once more.
The New Jersey authorities have been
on the watch for just some such move as
this. The games being worked In Jcr-
xcy differ IN no respect from thoce
vhich fleeced millions -r dollars out OF
she public in New York city. The telc-
phone game the got-your-name-from-
a.friend racket and all OF the other
tricks are being employed by the New
ark operators the same as those in New
York.
PRICES realized on Swift & Company sales
nf rarcn ua beef IN New York CITY for week