The evening world., 1891-08-14

was At 1rst supposed that the failure was q
perfectly honorable one, and simply due TO or
dinAry business reverses and an unfAyorable
condition OF the money market.
lido not think that Mr.. Einstein. who is
Mr.. Backer's assignee, would have taken up
the case II he had understood In the BEGIN
ming what the circumstances were"
Mr.. Einstein was not Al his once to-day,
and Il was said that he was attending the
funeral of 8 relative.
Nr. Dyett, his law partner, who Is author
ized TO speak for him. said that he was not at
liberty 10 make any detailed statement Ia re-
gard TO Mr.. Backer's liabilities. but he de-
clared with much emphasis hat the arrest Of
Mr. Backef was simply a. attempt TO use the
criminal process for the collection of q deb.
Mr.. Backer, he said, Is not guilty OF lar
ceny, as he had no intention n stealing the
property tbs. was deposited with him AZ col
lateral There must BE- an intent TO steal at
the time the property comes into the posses
sion OF person who appropriates It TO consti-
tute a crime.
why, even the Penal Code only makes It a
misdemeanor for -pawnbroker 20 sell a
pledge without proper authority, and says
nothing about other pledgers.
IL believe that Mr.. Backer has suficient
ssets now TO pay - cents on a dollar TO all
his unsecured creditors. while those which are
secured Will, OF course, get everything that is
due 10 them. lie has given up everything,
and his wife has even offered to release her
dover in the real estate which he owns
An APT ILLUSTRATION.
The truth Of the matter is that NJ. Backer
did business as private BANKER and secured
himself by taking collateral from his custom
ers- As long as he was accommodating them
be was god, hut now rhere Is none 50 poor
TO do hin reverence" added Mr.. Dyetr, Civ
ing impressive emphasis 70 his shakespearian
quotation.
The lawyer thought his client had perfect
right TO use the securities OF his customers
when he g1t into a tight place, and illustrated
his fine point Of law by saying that II he hired
horse and buggy to take a ride in good faith,
but before he came back he suddenly changed
his mind and decided to sell the rig and pocket
the proceeds, he would not be guilty OF grand
larceny, but only be liable to a civil action for
the conversion OF the property.
You can't steal anything In which you
have special property or ownership, as in
the case Of these securities" he said
Is THIS BLCFR?
Mr.. Dyett added that the arrest OF Mr..
Backer might overthrow the negotiations
which were in progress for a settlement with
his creditors.
At the Park Bank II was said that Judge
Harden's note was offered for discount by
Backer some time after 1t had been delivered,
and that he had been accommodated on the
strength Of his standing in the business COM
munity.
II think" said Cashier Hickcx, that Mr..
BaCEer will come out OF this thing all right,
and pay all his debts. He was no doubt
pushed for money, and the securities held by
MIN had deprecated in value. lie thought II
best TO stop snd square up, and not get any
deeper in the hole"
The motion TO continue the Injunction OBJ
tained In behalf Of II. Myers & Bros, bankers.
OF savannah, Ca, against the Merchants and
Central National banks, restraining them
from dlspOsing Of certain securities belonging
to the nrm and hypothecated by Backer,
came up to-day before Judge O'Brien in the
supreme Court Chambers
The counsel representing the banks were
not ready to go on and the motion was ad-
j0uTHed TIL next Tuesday. About $4,000
worth OF securities are involved in this suit,
OF which the Central National Bank holds
about $4,000.
Judge Harden, the complainant, was cross
examined by Lawyer Dyett this afternoon be-
fore Justice O'Reilly at the Tombs-
Backer was held In ais, 900 bail.