Jasper County Democrat, Volume 13, Number 66, Rensselaer, Jasper County, 26 November 1910 — RAID BROKERS’ OFFICE [ARTICLE]

RAID BROKERS’ OFFICE

Arrests Made in Alleged $50.000.000 Swindle. Federal officials raided the quarters of Burr Bros, in New York city, a corporation dealing in stocks and other securities, with offices in several of the larger cities of the country. The raid was made on warrants charging use of the mails to defraud investors. Post office officials said the concern had sold to investors at par value between 140,000,000 and $50,000.-, 000 of stock in various companies, the majority of which had gone out of business or became bankrupt. Books and papers were seized and the following officers of the company were arrested: Sheldon C. Burr, president; Frank H. Tobey, vice president; Eugene H. ilurr, secretary and treasurer.

The three officials were arraigned before Commissioner Shields and held in $20,000 bail each.