The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-05-24
FINANCIER PELL GUILTY f.!
NUMBER ONE CHECKED OFF THE list
OF BANK WRECKRRS.
The Same Sentence Ward and FIsh cot
OverhAngInE tho New Lights OF Finance
-Pen in tho Tombs-Clanssen'p Trial.

bought those New \ orR city banks last winter
and emptIed their safes. was convicted last
evening in the General Sessions OF grand lar
ceny in tho lrst degree. The verdict was evil
IDENTIFY an utter surprise to Pel and his asso-
ciates, who had crowded about him through
out his trial. Pell may get ten years for 1t.
Recorder Smyth sent him to the Tombs and
no will be sentenced on Tuesday.
Pell's trial ended on the ninth day. He came
TO the bar at tho opening of court Just rs we'll
dressed smoothly shaved. smiling and conf
dent as ever. Ills wife welcomed him with q
smile and kiss. She is rich In her own right.
Polls old partner. Grovesteen OF Grovesteen &
Pell, OF odorous memory, shook hands with
Pell. and tool; seat near him. So also did
William N. kildufT and Others Of Polls new as
sociaes. Charles T. Wallack, who turned
States evidence, sauntered up TO the group
and addressed Mrs. PelL She turned away.
Pell was accused OF stealing $4,000 worth OF
railroad bonds from the LenoX Hill Bank on Dec.
10, within fifteen minutes after tho "reorGani-
Zation." In his summing up for the defence
Mr.. Rollins. who was formerly an Assistant
District Attorney. said that he had never de-
Tended prisonerin that court before. and that
he appeared in defence OF Pell because he be-
lieved him to be innocent 1t was absurd to
say that Simmons and his associates had paid
$l09, 500 for control Of tho bank in order to rob
1t OF $4,000. Security far above the value OF
tho bonds was deposited when demanded and
the price OF the bonds themselves was finally
returned. This payment for the bonds would
have been made long before had Pell been able
10 obtain from Philip l.. Meyer an accounting
Of the sale OF the bonds Altogether. there
was not a word or act OF pell that could be
properly construed into evidence of the guilty
appropriation Of the thirty one bonds.
District Attorney Fellows said that one OF the
most convlncidg proofs OF Pels guilt was his
conduct on the night Of Jan. 30. after his inter-
view with Bank Examiner Hepburn. Pell
knew that he had not paid the bank for the
the bank examiner found no entry OF a pay
ment his guilt would be clear SO he hurries
S 81 %aaek His m oTs oT
mons 70 sign them, and Their. directs WaiaGk
den payment, in the face Of Impending
guilty intent In possessing self Of the bonds
as his precipitate fiiGht from this jurisdiction
would St have 3 Sp is p easy to
lows said. but it is not SO easy to convict q
man who is q maGnate in financial circles, and
an extensive intimacy with business, educa-
RRd BY M eod may
lesson Of tEe past Your verdict, gentlemen. /
Inns Oilers us Lord Gives detonoe: stand
out that his client could have stolen very much
oIb accuse e f FL s toa
done IL 7 R WY not WY beesSse u there herr WAS
$500 go or 5000 200 that he might have stolen.
Recorder Smyth told the jury that tho evil
dence was OF character more easily under
stood by 5usiness men 81, than a. BY lawyers or
ness AFFAIRS Many Of the facts in the case had
dsputed ISSUES were few It vas conceded
that the bonds passed out OF the possession Of |
e1D5 S s pe Cd Pea
the money advanced By the brokers who we're |
instructed to sell the bonds. and applied II, to |
By HMM He question Was hs Mhehee
these acts act we're done with a ielonious
ing to. show that there was q combination or
conspiracy before the purchase Of the bank.
lack did not steal the bonds which he turned
oyer to Pell, Pell could not be convicted under
which charged that PeIi aided assisted and
abetted in the larceny Of the bonds;
tho Recorder allowed them to 60 to Leegetts
Hotel for dinner. At 8 o'clock they returned to
The long delay encouraged Pell and his
friends; They chatted merrily and were con-
dent thHt the jury would etheE acqpittOr dis
home. and she yielded on condition that the
verdict should be teegraphed to her
SSSf the sd s1% H. ThSSS
he Grasped the shoulder OF Mr.. Newcombe. and
would have fallen but for this support. Then
before him while the jury was being polled.
Recorder smyh t9Id the Jury that be could
men MOI could have come to any other CONCLUSION
verdict Then he discharged The jury for the the
combe, catching at a straw. said. Did un-
derstand that there was or was not recon-
SMITH. -,-n-.,,.,.,
The Jury declined to tell how they stood on
lions Pei said that he had no 10 business now.
age and had lived on Long Island. Recorder
Smytn ordered that, Pell be taken formally
Jacobus and Committed to the Tombs. Peli IS
under Indictment In tho United States Court
also. Motion for new trial will be made on
United States District Attorney, Mitchell has
received telegram from George /; Hutchings.
who was wanted as witness on the trial OF
Peter J. Claassen for EN- bezzling the assets Of
and snys nhS & fefrr is
be hero on Monday TO testify; On tho trial
Yesterday ClaasseD,s own EVIDENCE was re-
cover the proceeds OF the banks securities
Bank Examiner miner Hepburn d had refused to re-
son, and SO had the Clearing II ouse Committee.
although Gt ri IN the Tinesss oplnon there was no
He denied any knowledge:
NatSna BANK sftss I6sy bad been delivered 70 him
aEsn to the Third National Bank 10 secure csrtiisd
That The Third National Rank withheld checks
from SsP9ssih as tes ;t BY PRESIDENT booth