1933-12-16 BDE Lehrenkrauss System wird untersucht - 1-

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1933-12-16 BDE Lehrenkrauss System wird untersucht - 1- - a,nd John 'Postoffice' (P) James the United...
a,nd John 'Postoffice' (P) James the United Department, the game of it," he who played which Is the old-fashioned found "a In Europe States is going the press picture of Atherton, embassy, interview to newspapermen when, in he said: British reporters, notes, had the racket." Fire Marshal's office the cause of firemen were damnged the Emil Singor Point, at are: 12-10 Cross Whitestone, attached Ladder 130, condition serious; 35-24 104th fit., Engine 200; remained on 40, of 45-33 attached to En of hands; remained to Battalion started In the first floor of building owned operates a an adjoining Resign Post The Daily possibility of as Foreign suggested to rumors J. McElligott. Lehreiikrauss System Probed Quiz Shows Mortgages Exceeding Equity Sold as Guaranteed Bonds The next public nraring before Special Commissioner Louis R. Blck of the Brooklyn Federal Court probe of the House of Lehreiikrauss is to begin at 2 p.m. next Wednesday. This week's dally series ended last evening on a note of mirth, a commingling of the hearty chuckles of the dozen lawyers in the litigation with sadder laughs and rueful smiles of the hundred or more Lehreiikrauss guaranteed mortgage certificate holders in the big hearing room on the seventh floor of the Postoffice Building. On the witness stand at the time was Fred Leger, who for ten years has snt behind a wicket in the Lehreiikrauss oilices at 359 Fulton St. and served the concern's 40,000 regular Brooklyn and Long Island customers. Archibald Palmer, creditors' attorney, had asked him to explain the sales procedure. 'Given First Thing at Hand' "When anybody came in to buy a first mortgage certificate," he said, "we Just handed them anything that was handy unless, that Is, they asked for a certificate on a sioeific property." His response was the climactic finale of a week of testimony concerning the wholesale manufacture of mortgages, without regard to requisite preliminary appraisals or prior liens, so that the mortgages thus created were In excess of any remaining equity In the properties against which Issued. Numerous instances of over-mortgaging of properties had been previously spread upon the court record, but it remained for Leger to add last evening a unique type to the list. 'Group Mortgages' He referred to this as a "group" and said it was so-called because each group was an accumulation of mortgage odds and ends that were arbitrarily united as a single book entry to issue a series of participating certificates against them. Whole mortgages and part mort- Continued on Page 2 EATS WAY TO FAME the LaGuardia committee and Manhattan. Davidson been In Department 23 and announce this Gold-water, Is said Langdon House O'Ryan. known who put the the only commander for the He all over States Service him a Order of him a The re-cover Mayor President former and Harvey today when Brooklyn on for a total rase Friday. Tardy now on, will do around magistrates John J. Chief subordinates benches "The the COW came farmer on him Collins beneath the

Clipped from
  1. The Brooklyn Daily Eagle,
  2. 16 Dec 1933, Sat,
  3. Page 1

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  • 1933-12-16 BDE Lehrenkrauss System wird untersucht - 1-

    LehrenkraussX – 03 Dec 2016

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