The Portland daily press., 1900-01-25
Saws He Believes Cashier Deering
Defaulter.
Protested Note was the hmm essiate
Cause Of the Failure.

The answer In regard to the loans o.
all other banks and their security wa
shown In the schedules and without AM
additional security. In the loan Of II. Il
shaw no other collateral was given be-
side that mentioned in the schedule and
the collateral 70, this Ian has never teen
changed. The same was true in tas cast
Of Mrs Elizabeth 4. Woodbury..
Q.-Have you In the last 70 IT months
changed the collateral In any notes.
A.-No. excepting In the course OF reg
ular business when lond WAS sold here
and there another bond Was substituted
for It, The loan TO tbs Belfast bank hat
been renewed FOR two or three years.
At this point Referee Pierce raid thai
Re had asked all the questions which b.
thought necessary and had laid the 70 IN
dat'o3 20: any Inquiries whioh the credi
tors might choose to make.
MIR. E. W. Freeman, who said be- repre-
sented Or. Baker, then took up the ex-
animation OF Mr.. Woodbury..
q by Mr.. freeman-Mhat was the capt.
tai invested by the firm at the tine Il
was adjudicated bankrupt
A.-Ths capital WIS SO 0oo. had sI5,
OCO, aud MIR York $40 go
Q.-The next prior change In partner
ship was when MIR. Moulton retireds
AXIS.
O-Row much was Withdrawn from
the firm at that time?
Ave PAID him g. OO0, to which HI
was entitled. He agreed to 1t.
Q-1hen he Withdrew this capitals
Ale did. q
Q -Will the books show the transac
tions
A.-They will.
Q-Hou mtoh capital did that ,eav'
the firynf
A.-About $4,000.
Odd you take an account OF stock
Al presume so.
Q.-What gives you the impression thai
81 90 was ths remaining capitals
A.-The general ledger.
@ What has Teen the agreement re
garding the sharing of proEts'
Al had GO per cent and MIR. York hat
40 per cent. Two years ago had 20 pei
cent and Mr.. York IS per cent
Q-How often dia you receive 1t?
A bout svery three months.
ON cashr
A.-No. it was CT edited to my account
Q.-Eow did you obtain your share Of
the profits?
A.-When wanted money I took II
trem my account.
Q.-How was Jour salary paids
A.-So much quarterly.
GLOW much was It?
A.-s2 $50 quarterly.
Q-At the rate of $4,000 year?
A-No, at the rate Of 90. O00
Q.-What did Mr.. York receive for 1
salaryY
A. 81, 600 quarterly.
Q.-Whsn was this salary dues
A.-Jauuary, July. April ana October
Q.-When next prlor to the failure dit
you receive Jour quarterly part of ths
salary
A.-Octobsr 81, 1899 when s3,25O was
credited 10 my account.
.Q-haVe you named al tno BOOKS pos
sessed by the firmf
Ayes.
Mr.. Freeman then asked about tn .
check books Of the banks where the firm
kept deposits and the answers were thai
they were all In ths hands of the assig
nees.
He next asked about the bond sale
books which contains only the number
OF the bond, the person from whom pur
chased and the face value of the bond
and date when due. This look Is with
the assignees
. Did you keep d tieklsri
Al presume 20.
OIL presume you know
Al mean just what l say.
Q Don't you know what the tiokler
called forf
Al don't know.
Q-Don's you know what the men In
youT employ didf
Z A--No.
1t was now brought out by the ref
eree's questions that the tioklsr was a
memorandum kept by the cashier rs an
aid In. making mp his cash balance.
Mr.. Woodbury. In answer TO further
Questions about this book, said that he