The evening world., 1903-10-27
NEVER SAID THEY WOULD
BACK HIS ENTERPRISES.
Witnesses Had Sworn that the
Names of Mrs. G. W. Wander
biIt and Mrs. Brown Were
Used in Floating Real Estate
Company.

LIE Toy OTG9EGT, OF the nTDl OF DTe5Set
q Company. was resumed to-day in the
once Of Referee Stanley w. Dexter. al
40. n Broadway.
At the last hearing testimony was ad
duced that h names Of Mrs. George w
Vanderbilt and Mrs. J. Nicholas Brown.
sister of Mr.. Dresser. were used to In
fuenoe prospective promoters Of tho
Reai-Estate Developments Company
which had been fnanced to aid Mr.,
Dresser In meeting his obligations. Ores
Bcr to-day denied these stories.
Evidence of four witnesses was that
they had sworn blindly that the securi.
fies deposited for the beneht OF the
creditors were worth $3.50. 900. whereas
at the time of deposit they knew moth
Ing Of the value of the stocks and bonds
delivered in a closed pacl0age to c.. w.
Youngman. President OF the Corporation
Finance Company.
Those who appeared at the hearing to-
day were Mr.. Dresser. II. H. Mass, rep
resenting Morris ]. Hirsh. Mr.. Ores
sers counsel; ]. Aspinwall Hodge. coun-
sol for the trustee: Edward b. Whitney
and r. o. hurry. for the creditors.
Mr.. Dresser was the first witness. In
respons to queries by Mr.. Hodge he
said he received In March n letter from
NJ c. Quimbv In reference to Mr.. Dres-
aer's affairs. Quimby told him he was
prepared to organize n real estate COM
pany on Staten Island. He wanted Mr..
Dresserfo become President of the COM
pany.
Dresser wns willing.
II was willing to take the presidency
said Mr.. Dresser. but ! did not under
stand Mr.. Quimby's solicitude for my
welfare. He explained that II was be-
cause my name woplsr lend strength to
his company. 1>net some of the men
Interested with Quimby, I looked up
the Gasfncial responsibility of thsse
persons and found 1t satisfactory. Mr..
Brink. Mr.. Coiallon and another were
to make up the $4,000 necessary to n
napco the company. l told them l
would have to refer the proposition to
the receivers of my business. for them
to place before my creditors.
Then II came to the question OF de-
posting the securities. These were
brought down to the Office of President
Youngman. OF the Corporation Finance
Company. ] waited outside Mr.. Young
mans ONCE while the alleged delivery
was made. Nj. Youugman came out
n told me he was satisfied with the
ce~rtincation of S700. 900 OF the securities
and that the remaining $4,000 was I'M
doubtedly all right. He assured me of
his belief hat the total value of the
securities was ss5O,Ooo.
1.-THE reason given to me for not per-
rafting me to know the nature of the
securities was that II l told. the matter
would come to the ears of my creditors
ana the credit OF the gentlemen putting
IN the securities would be j~eopardized.
Uhe agreement was signed by Mr.. Co.
hallon and others were for their undis-
clpsed principles.
Wanted TO See Securities.
II asked Mr.. Quincy II l could learn
ct q later date of the identity OF the Sc
ourities, n was given the assurance
that / could. Afterward, after the de-
post of the securities. Mr.. Quimby was
shiny ONCE. / told him 1t would be much
easier for me IL he would disclose the
nature of the securities. He gave me
. list. Of which / made a pencil memo
andum describing some of the securities.
] remember that Pennsylvania and New
York Central stocks were among those
named. I nave not been able to find the
memOTaTluuW 1OunS man Sdlu some OF
the securities were listed.
81 never heard any one offer 20 let any
one see the securities. That was what !
wanted all the time. but could not ac-
oomplish.
After the signing OF the agreement
with those who put up the securities ]
attended one meeting of the Richmond
Real Estate Development Company as
NAa AEAA IA
Of the 5000, 900 stock Of this company.
an amount sufficient 10 satisfy my
Creditors. In return for the So, 900 1
was TO give my services as President
yf the company and to advance its in
terests. l specifically stated that
aolld not undertake The underwriting
OF any stock,
II have stated positively and clearly
10 everybody with whom l have had
dealings in the last few years that my
sisters. Mrs, George w. Vanderbilt and
~hateyer 10 do with NV b nnd n nS'n anS
that they never would have. | never
said they would back me- In any of these
Undertakings"
Gruber Restores Order.
In Il little. tilt between Attorneys
Traders sank in the hearing. inter
ftfpted and restored good feeling BY
remarking: Gentlemen. Peace be 70
ITO what do you attribute your fail
uref" asked Mr.. lodge.
TO the loss OF the $4,000 M to the
sudden curtailment of my credit. / could
mot get my assets together quickly
enough. The depreciation OF my asset
was between S1.l00.000 and 81, 200, 900.
do not know how much | owed my nrm
at the time of the failure
Who owns the Oyster Bay property
Nhere you reside?'
NitMra. Dresser. She was the DUR
ehaHaFff
did you not carry on quite a CORE
~1nondence In the bodybuilding matter?"
Et'Only In connection with the Trust
A<Qmpany OF the Republic.i'
MI. Dresser sald mis- life was insured
2nI NOV In favor of Dresser & Co
VIII money did you inherit?''
MOT very much; $4,000 or $50. OOo.'
did you receive from John w. Young
= PTS olse anX, bonds Of the Ship
XQnnt gave ME some bonds.
.1Ht - ~ tfl1sm to be used for Dor
Thay were 70 b used -