New-York tribune., 1922-10-22
New York Bankers Cause
Arrest of Suspect i'm
Scheme to Seize Cars i'm
Detroit for Sale Here
Promoter Admits
Deceit, Police Say
Insurance Man Inspires
Inquiry; C. B. Richard &
Go. Acted i'm Good Faith
gpeoial ptspateh to rhe rrtoun.

Special Dispatch TO The Trsbuns
DETROIT, Oct. Elbow the Motor
Industries Corporation was formed In
New York for the purpose Of selling
1900 Cadillac automobiles, stolen in
Detroit; how G. B. Richard & Co, New
York bankers acting in good faith,
we're induced to finance the scheme by
being told that the cars would oe sun.
piled by the General Motors Corpora
tlon, makers Of the Cadillac, who
wished to secretly make and place on
the market, under the guise of used
cars, new cars made from old and sur
plus stock, and how the curiosity of
New York insurance agent led to the
frustrating of the plot and the orres:
here of Edward j. Sweeny, we'll known
automobile dealer and alleged "brains"
OF the organization, was revealed here
to-day by Inspector l.. H. Parker, OF
the Detroit Police Department.
Had the plot been carried out it
would have meant loss Of $4,600,0O0
to the bankers or $b,so0,oO0 to pur-
chasers of the cars, police say. How
ever, the first car sold was found to be
stolen, and Mr.. Sweeney was arrested
in the lobby of the Statler Hotel in De-
troit while waiting for D. j. Lewis, of
the c. B. Richard Company, New York
banking firm, to turn over to him
$4,000 for the first consignment of
cars. Mr.. Lewis showed up with the
$4,000, but also with two detectives.
Exhibits Option ON 1000 Cars
The Motor Industries Corporation
was incorporated in New York for the
purpose of handling Cadillac cars, and
on April Sweeney, representing the
corporation, called upon the G. B.
Richard firm for financial backing, pre-
senting what purported to be an option
on 1000 automobiles to be made by the
General Motors Company. 1t was on
General Motors stationery and suppos-
edly signed by vice-president and
manager of the company, and stated that
Mr.. Sweeney was to receive 1000 cars
from them at the following prices:
100 roadsters at 81 900, 1900 phaetons
at $1,000, 1000 touring cars at $1,100,
425 victorias at $1,400, 500 sedans at
S1,e50 and rs limousines at $4,000.
They were to be sold through Sweeney
at profit of $500 a car. They were to
be new cars, made from surplus old
, stock, and were to be sold as used cars,
the tires being old and the speedom-
etRr showing some mileage.
A contract was signed on September
81. Sweeney took car to D. j. Lewis,
of the Richards firm, saying 1t was a
sample he had driven to New York
himself, and a buyer was found imme-
diately in Ed Weiner, of 45 John
Street, New York City. Sweeney said
that he was ready to start delivery Of
cars at once and 1t was decided that
Mr. Lewis should bring $4,000 to De-
troit to pay for them on October 3.
In the mean time, when Mr.. Weiner
went to have his new car insured. an
insurance examiner, j. Chester Smith,
154 Nassau Street, New York, examined
his car and, suspicious OF the number,
wired the General Motors people in De-
troit, who in turn notified Inspector
Parker. Inspector Parker discovered
that it had been stolen in Detroit Sep
tember 21, and wired the New York
police to get it.
New Yorker Appeals to Police
Mr.. Weiner appealed to the Richards
firm, which wired Mr.. Lewis, who WAS
in Detroit. Mr.. Lewis was in the lobby
of the Statler Hotel in Detroit waiting
to turn over the $4,000 to Mr.. Swee-
ney, when he received the wire. He
went to Inspector Parker's office i'm
mediateIy and told him of the option
and contract. Mr.. Lewis and two de-
tectives then went back to the hotel,
where Mr.. Sweeney, who was awaiting
Mr.. Lewis, was arrested.
He has admitted, police say, that his
story to the bankers was false, that ne
had told 1t to obtain financing and that
he had planned to buy enough cars to
fulfil the contract. He also said he
had circularized all dealers and owners
of Cadillacs in Michigan, saying he
would pay the best prices Tor used
Cadillacs, He bought the car he de-
livered to Weiner.
Howver, police say that Sweeney was
indicted OF, q fraud charge in New YORK
last summer and is now out on 9lo,o0o
hail. They point out that during the
week previous to his taking the sample
car to New York ten Cadillac cars,
eight touring cars, sedan and
Limousine were stolen in Detroit ana
have not vet been recovered. :,
Sweeney, who is now IN jail, was
secretly arraigned a few days ago be-
fore United States Commissioner };
Stanley Hurd, at which time he pleaded
not guilty to violation OF tne oyer
act and was held in $l0,00o Dona.
On6 n Nexv Football Record