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THE PITTSBURGH PRESS Other Debtt Can Be Wiped Out at Hearing Gray Steel Man to Stay in Hock on $70,000 Fraud Atomic Due 1952 Ready Fnornif M 1 j His bankruptcy hearing is scheduled for 10 a. m., Dec. 8 ( I VP i before Reffl-ee Reffl-ee Reffl-ee Watson B. Adair Dean of the in Room 730 of the Federal provided Mr. Bodansky would Commission dis-i dis-i dis-i Bids , advance Fahye $10,000. a forerunner! r ‘i,. . All those charges Justice power plants! anye’ a man oi many aliases Brisach listed finAings cf electricitv i ana wiaey Known nere as Aian fact. Bankruptcy Plea Leaves Out Many Lurid Details of His Accounting A. Terry Fahye, the debt-ridden debt-ridden debt-ridden promoter in the Beacon St. mansion, may stay in hock for a $10,000 gray market steel fraud if his other debts are wiped out tomorrow. of next vear.” commission is toward these atomic energy t eye, nas listed assets of So400 j Further, the iustice wrote. Mr. and debts of $170,800. But he j Bodansky on Dec. 9, 1947, gave has left out a lot of lurid details i Fahye a $4000 check on the Savin Savin his accounting. jnes Bank of Brooklyn and a There is, for instance, the ; $6000 check on the Dime Savings transfer atomic story hind his mere mention Bank of Brooklyn. And Fahye into elec the cumbersome of first producing utilizing heat. make naturally-occurring elements other and thorium energy stored nuclei. of the of a $10,000 judgment held byjcashed both checks that day at one Henry Bodansky of New York. Two years ago the New York Supreme Court ruled Fahye had bilked Mr. Bodansky, a, janitor of foreign extraction, out of the money with a cock-and-bull cock-and-bull cock-and-bull cock-and-bull cock-and-bull story j about being a big-time big-time big-time steel op-‘, op-‘, op-‘, era tor. the Pennsylvania Exchange Bank, Eighth Ave. and 38th St. Branch, Manhattan. Waived Jury Trial Justice Brisach pointed out that Fahye, through Attorney Charles A. Schneider, of 291 Broadway, Manhattan, first had filed a denial of the charges and had waived jury trial. Then, the justice added, Fahye I – i i?y – V i j & J 0 s- s- ” ” ‘ ‘, f of the Alumni j for, among other things: College of New i “Liabilities for obtaining j money or property by false Breeder j pretenses and false represen- represen- energy reactor i ( And this, declared New York Ida. He said it;Supreme Court Justice Eugene to test the L. Brisach on Sept. 19, 1949, is fuel. But? he ; sky ?utof $10,000 also j Fraud Excepted his report onj Fahye has Section 17 of the the development i U. S. Bankruptcy Act to contend for peacetime with on this score. It says bank-j bank-j bank-j withdrew his denial and didn’t delivered at thejruptcy discharges debts except! show up at the triaL He ruled Fahye had “practiced fraud and deceit” and granted the judgment against Fahye, who then lived at 111 S. Harrison St., East Orange, N. J. Costs and ; interest pushed the total to $11,094.50. Charges of fraud against Fahye also are behind his listing listing of a $17,000. debt to Ralph Whitehead. Mr. .Whitehead, of 1017 Farragut St., also has a lawsuit lawsuit on file that accuses Fahye of deceit. $16,800 Clipping Charged This suit, filed last July, says Fahye clipped him for $16,800. Mr. Whitehead charges Fahye took the money $5000 on Sept. 5, 1950; $10,000 on Sept. 11, and $1800 on Oct. 2, 1950 “fraudulently “fraudulently and by false representations representations for the express purpose of putting on deposit with Carl B. Kraus, of the Kraus Elevator Co- Co- Chicago, to secure delivery of certain steel or steel products.” But, Mr. Whitehead declares, Fahye used some of it to buy the $50,000 home at 6570 Beacon A. TERRY FAHYE “In the steel business.” is ex some useful in the first full-scale, full-scale, power-producing power-producing of the future be one of type that designed both to fuel and to produce thus simultaneously energy while sources of energy,” said. “challenging” peaceful uses of Mr. Dean emphasized the sun. He the part has played in down the long the mysteries the intriguing by which plants dioxide, water produce energy-rich energy-rich Is Tool is the tool, atomic energy-has energy-has research in the the sun. material became large quantities energy,” he said, almost literally dark, for although plant tissues dioxide, water somehow produced materials from practically no went on in between. Party Agents Assn. will be in Assn. Dec. take the place regular meeting. A month and a half later Fahye’s name twice hit the headlines. headlines. IFirst Neio York State prosecutors prosecutors accused him of trying to engineer a $25 million grab of the Follansbee Steel Corp., of Pittsburgh, Pittsburgh, when he had only $54.58 in the bank. Later Fahye was cleared of violating a 1939 injunction injunction forbidding him to sell stock in New York State. About the same time he gained notoriety, through testimony testimony before a House investigating investigating committee’, as a steel gray market operator. IBut more about that later. Fahye came to Bodansky on Dec. 9, 1947. Mr. Bodansky, now of 71-36 71-36 71-36 nni, o cvr.c- cvr.c- unit, rtnoann ‘ ‘ oi., ” “” St., where Fahye currently is staying. Fahye . also lists a $4500 loan from Thomas J. Dick, of 1494 Greenmont Ave., Dormont, in trial June 23, 1949: Fahye told Mr. Bodansky he was “in the steel business.” He said he had “adequate sources of steel, possessed and controlled a large amount of steel, which he had ready for delivery.” ‘Connections Cited Likewise Fahye told Mr. Bodansky he also had “the output output of , various steel mills, for which he had contracted and which he had the lawful capacity to resell.” And, said Mr. Bodansky, Fahye told him he “had an interest in and was the agent for United Ferro Corp., which owned the Copperweld Steel Corp.” Mr. Bodansky said Fahye told him he would use these “connec tions” in making steel available But it is understood that the to Mr. Bodansky, who would be-1 be-1 be-1 recent tests near Las Vegas, come the “exclusive agency for jNev., dealt with development of the distribution and sale of steel smaller A-bombs A-bombs A-bombs and atomic ar- ar- whose name the colonial manor home has been held. Mr. Dick says he let Fahye have the money to buy the house. Court Stops Safe Sale of the place was stopped Nov. 7 when Attorney Bernard Goodman got a Federal Court injunction and petitioned the court to throw Fahye into involuntary involuntary bankruptcy. Mr. Goodman acted in behalf of the estate of one Harry Greenberg, of New York. Executors Executors had obtained a $13,000 judgment judgment in Newark, N. J., against Fahye. Also Mr. Goodman got a Federal Federal Court injunction stopping distribution of proceeds from the sale of the house, officially appraised appraised at $50,000, for $43,000, plus a $1690 real estate commission. commission. It was Mr. Goodman’s action that touched off the bankruptcy proceedings. Also listed against Fahye in Allegheny County Court record$J are a $1765 consent judgment, obtained by the Brookline Savings Savings & Trust Co.; a $1287 judgment, judgment, obtained by Milton Mark-man, Mark-man, Mark-man, of Leesburg, Va., and a $10,374 judgment obtained in New York by Hillside Metal Products, Inc. New Yorker Holds Judgment That judgment is being con tested in the courts here. Court records here don’t tell what that was all about. But a clue can be found in Congres sional committee testimony dur ing January, 1948, when Fahye’s apparent interest in Follansbee Steel was Indicated. An attorney told House In-” In-” In-” vestigators that Hillside Metal had paid Fahye $10,000 for gray market steel that never was de-” de-” de-” livered. He’ said Hillside recovered recovered $1000 by taking “strong action” against Fahye. And he testified that Irving (Waxey Gordon) Wechsler (Wexler), notorious Prohibition era Bronx beer baron, was in Fahye’s Consolidated Steel Mills (office in New York when the deal was made. Fahye later said his only con nection with Waxey was that he once had hired Waxey as a $100-a-week $100-a-week $100-a-week $100-a-week $100-a-week lumber salesman. Fahye said he fired Waxey when he learned Waxey’s identity. Names a Specialty Fahye also lists in his debts a $1500 loan from an Irving Wechsler, whose address he gives only as the Bronx. New York sources, though, say there may have been more , than one Irving Wechsler in Fahye’s life and that he once employed a tax accountant by that name. Names are a specialty with, Fahye. He has identified himself himself ‘ variously, over the years, also as Alan Rand, Alfred Terry Fahye, Albert Bennett, Albert Bennett-Fey Bennett-Fey Bennett-Fey and Albert Feigne- Feigne- baum. H .l.h ‘hi -r-TaTff-JrifflW -r-TaTff-JrifflW -r-TaTff-JrifflW -r-TaTff-JrifflW -r-TaTff-JrifflW -r-TaTff-JrifflW fl T latwi l r jft–:;?3, jft–:;?3, jft–:;?3, jft–:;?3, tw rm -av3re’fc-i. -av3re’fc-i. -av3re’fc-i. -av3re’fc-i. ,a mi’m. rz. J I 1 1 ‘ 52 and steel products in the metropolitan metropolitan area of New York.” Fahye, said Mr. Bodansky, promised to supply him steel at the rate of 500 tons a month Atomic Weapon Progress Called ‘Most Encouraging’ WASHINGTON, Dec. 8 Defense officials reported “most encouraging” progress today in developments of “a variety of new atomic weapons” and guided missies. The Defense Department’s semi-annual semi-annual semi-annual report also said the new weapons were being tested “as rapidly as possible” to speed artillery to fire atomic shells. He up the time when they could be said the shells themselves will used in battle. be ready for battlefield use “in The report discussed atomic the not too distant future.” weapons only in general terms. Tn the report, the Army said the Nevada tests were “of singular singular v a 1 u e . . . in furthering Army readiness to employ atomic weapons effectively in tactical operations.” But the Army cautioned against the “fallacious opinions” opinions” that ground troops are becoming: obsolete because of the advances In atomic weapons tillery shells for tactical purposes. purposes. – Gen. J. Lawton Collins, Army Chief of Staff , ” disclosed Thursday Thursday that the Army has developed Glamorous, Ever-Young Ever-Young Mix-Match-Mates Mix-Match-Mates Mix-Match-Mates Mix-Match-Mates Mix-Match-Mates Dressy … as changeable as Sparkling, versatile separates perfectly into your day-through-night day-through-night day-through-night day-through-night for business, for luncheon, for dinner-and-after! Just one of our full skirts makes a complete wardrobe mood-changing mood-changing mood-changing tops! A. Plunging Pie Cut Lustrous twill back velveteen with and pia cut neckline … bared gala moods. Size 10 to 16 in B. Nipped-Waist Nipped-Waist Nipped-Waist Jacket, A short nipped-in nipped-in nipped-in jacket with long sleeve … sparkling with Muted lustra, Black twill back to 16. C. Full Circle Skirt,

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