New-York tribune., 1900-03-14
rrrr0GG'S" AVA SH TRADING. "
TELLS MORE OF THE E. s. DEAN
coMPANY's AFFAIRS.

4,us- continued his testimony yester-
saraae- s,rr thA methods Of operation of the
csy - Company when the trial or James b.
,nstcted last March by the Grand Jury
bsHss,sI,ug. was resumed before recorder Gof
z" I OF General Sessions
y rs a circular shown him and a handsomely
Ee S. s@-,r,at purporting TO be the sixth annual
bound 80 - me E s Dean Company were both
sisiens - EAilogg He also identified a press copy
Ts''e- s''..si-r sn which The E. s. Dean Company
Of -.sasped the receipt Of stock. bonds and
scS,- from the brokerage firm OF Goslin &
e.aT - -,o,,nt OF sIs5Ooo. The receipt
Co .sTse p s Dean Company. NJ L. Bernard,
sgned. lhe Z
pres''e--- was made by check, ana Keller tes-
.ns+ they tried to deposit II IN the Gansevoort
lA0. r,- me bank would not accept IL 1t was
bAH bH. ,..b the banking firm Of Theodore W. Myers
plseeo - ne account was kept there only few
- s.o- s-opping the account with Theodore W.
Hss Co an account was started with the
49, states National Bank, and one with the
-, - Savings Bank, on the Bowery
-aTsr then told Of the brokerage transactions
* --s.osore W Myers & CO. Shares would be
silA - - sold At the same time. thereby making
D0 D01s- - losing nothing but merely deiuding the
nosl--7 +o7,ers This transaction he termed
'rzshing tIa"e' .-o clerk hire office rent
-bones commissions, protection' out-oi-to"h
V-. and running paper in wan street
r-.ar do YOU mean by protection! ne was
asked. s,- s5ao.
70 - we would have 10 fix the postal people
= -,ail was getting 100 big. and the postal peo-
V1 --srs beganning TO kick. He said he was on
pc - ans could fix things for $500 month
Y yirness said that this done in January
= rebrua-y and in March trouble with the
-.<,al officials really began
~r-,loeg told me that S,500 was not enough;
-, Ne would have 10 have more. told him that
= --rst nay anything asked 10 keep things quiet
= ssid ne hzed il for one week for $500, but later
--enred = 2el0 TO keep things going Tor TWO weeks
oaesi oaser was asked the amount Of money received
a. ~esponse the last circular sent cut by the
80 company before il ceased business in April,
~ snd sa-d the amount was IN the nelSh-
b2ras ssiG tie business during the latter part of
,,a~-E vas poor while drafts drawn the con-
Ne were pouring n from all the country.
AeaezS 45onev was coming in would help out when
re trouble came Keller then made arrangements
With Theodore W Myers * co. 10 wash a lot OF
rrass+ Ee bought and sold a million busheis
simultaneously. he paid Myers & %. check OF
$50 for commission. ale received N return from from
FEN s2s910 in currency He divided the $4,000 with
Keilosg on March =. 1887
~ fhe So 900 received $50 ZOO divided with
Aes5SSr .Ass-r 70 nav drafts with. Early in April he
1aSs srrangenents with Lindboom- & Co., who
sls Sos-a ~ wheat were negotiated through them
Keller said be saw Kellogg on the day the Dean
cz5css &c told Kellogg that he could not cash
srv more checks because the money was coming
- siou-v and ~-har he had closed the deal with
I5nSbJoon d Co He also paid Kellogg N0oo0-part
Hf The money he got that day from Lndbioom &
Co. - -
-e--s customers telling them of the first loss. Il
tolS Kellogg that the first loss meant the end of
- ne said We were at the end of II, anyway,
t5s Pas-0H5ce people were going 10 shut down
,Ts and mi Us out Of business. He said that prior
- h3s connection with the Dean company he had
never had any experience with wash trading" It
-rae Kell0ggss idea.
Al rs O'clock Mr 0Icott concluded his direct
Examination OF NJ. Keller. and a adjournment
was taken until I0.S9 a. m. to-day.