New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-08-14
ABRAHAM BACKER ARRESTED.
GRAND LARCENY CHARGED AGAINST HIM.
JUDGE HARDEN. OF SAVANNAH. WANTS HIS
corIATFRAI RACK AND CAN'T GET IT.

JUDGE HARDEN. OF SAVANNAH, WANTS HIS
COLLATERAL BACK AND CAN'T GET IT.
Abraham BacNor the commercial note broker, of No.
cs5 Broadway, who few weeks ago. made an assign
ment HIS liabilities then being stated at 100000,
was yesterday arrested charge of grand larceny
preferred by William ID. Harden, the Presiding Justice
Of the City Court OF Savannah Ga. Bscker was ar
rested at his office by Detective Edward oConnor, OF
the Tombs Court squad warrant issued by Justice
o'Reiny.
Judge Harden says: "On the 9th day Of January
last gave to the defendant my personal note for
100000 for him TO discount for me, giving MN as
collateral per cent deoenture bonds OF the Central
Railroad and Banking Company Of Georgia These
aggregated 81 900. also gave him ninety shares OF
the Savannah Gaslight Company's stock valued at
81 ,00o Ny note Backcr discounted at the lark Ma
tonal Bank of this CITY, Yesterday the note was DUE
l called Mt the bank and paid It. ! then called on
Mr. Backer, showed him the paid note with the BANKS
stamp, and demanded my colsterals when learned
that Mr.. Backer did not have them having used them
collateral for debt of his own at the Merchants
National Bank. There nothing left to do but to
take the did. having given Mr. Backer ample
opportunity to arrange matters TO my satisfaction"
Mr. Backer was represented by Anthony Dyett Of the
law firm Of Townsend Dyett d Enstein. Samuel
Untemyer looked after the interests OF Judge Harden
Judge Harden also says that in every Instance he gave
Backer tho ordinary commercial note and the power
of attorney in blank for the transfer OF the stocks
When Backer arraigned before Justice O'ReiDy
ut the Tombs Police Court Mr. Dyet said he had Just
heard of the and not ready to go Judge
Harden was on the other hand, anxious 10 return TO
Savannah, where his court is now in session, and he
wished the hearing to take place at once. More or
less discussion between counsel followed, and the case
was finally postponed until this afterhoon Mr. Backer
was released under $4,000 bail Frank Rothschld,
merchant OF No 81 East sixtieth-st. and No 800
Canal-st signed the bond
Mr. Dyett said "Ths is q Of private persecu-
ton to collect debt by criminal law. The complainant
applied TO Mr.. Backer to discount note, Offering
collateral security. Mr.. Backer. at his request,
personally discounted Judge Harden's note. securing
the stock in question as collateral. Mr.. Backer
paid the proceeds of that discount to Judge Harden,
as he admits. subsequently Mr.. Backer raised money
for his account and used the collateral, as he
had paid the discount. He used the collateral In
the ordinary of business. with no intention
whatever Of stealing 1t. While things were In this
condition Mr. Baekcr failed in business and was unable
TO restore that stock DO they call that stealing!
Why it's nothing IN the world. at the very best but
technical Conversion OF pledge by PLEDGE, for
which he is liable in civil action and nothing else,
Rehypothecation by brokers in day occurrence
Ii is we'll settled principle Of law that there must
be intent to steal at the me the property was re-
eeived.'