Evening journal., 1904-07-01
CORKRAN AND
BAKER BOTH
FOUND GUILTY
Yesterday Afternoons Session,
lcontInued from EIrst Page.l


a debt Of $1,000 and no profits it SEEM
ed impossible to pay interest on the
bonds owned two-hfths of the
stock A bond 20 secure the mortgage
would consume our stock. DR.. Corlran
was asked n he could find market.
He said he thought his sister-in-law
would buy at better than 90. We agreed
to give Dr. CorSran an option at 90.
on the way 20 Baltimore we stopped
at Dover to see Harry A. Richardson.
did almost all Of the talking. ! had
previously written to him to buy our
line. The balance sheet was shown 70
Mr. Richardson. He asked what we
would take. 1 told him par and four
years interest. He said he would take
II on condition that he could get il
all. I told him there would be no diff
hculty as Dr. Corkran held the option.
L had my stock with me and got
check. Dr. Corkran and Dr. Baker said
they would deliver their stock soon"
did w. l.. Baker tell you he had
Inspected the line?'
"No, and Mr.. Richardson never saw
the plant"
Were you connected with the United
States Trust Company of BaltimoreY'
YES"
what other company"
Warner and Brown Cigar Com
pany."
"Have any trouble?"
Lost all my savings"
"You have had varied business
life?"
somewhat"
know zell and Merceret?"
Eyes"
"The concern is not a bucket shop7"
mo"
How do you know that?"
Senator Dryden and others told
me-"
rs the distinction between a bucket
shop and a standard broker the dis
tinction between dealing in prices and
dealing in real properties?
"Yes."
"Do you know as a matter Of fact
that zel and Merceret are not a buck
ct shop2"
Il do not"
'Your knowledge Of them is entirely
through hearsay?"
YES"
"You visited Mr.. Richardson on the
day of the stockholders meeting at
Crisheld?"
yes"
'Do you mean to say that prior to
that meeting nothing had been said
to Mr.. Richarson?"
Il do not"
"Was not the price fixed earlier than
the meeting on October 31?"
mot to my knowledge"
"Do you know how Corkran and Ba-
ker bought that stock2"
Not Of my own knowledge"
did you fix the figure of the sale
10 Mr. Richardson" ?"
"I did"
"why did you go Immediately to Mr.
richardson"
eve were on our way home"
did Corkran and Baker go with
you?"
Yes"
did he buy your stock that day?"
yes"
did he buy Corkrans that day?"
"I do not know"
"They contracted with Mr Richard
son to deliver the stock to him when
they got it?"
Yes"
what was the figure Of sale?"
"114 on par"
What was the price paid the stock
holders at Crisheld?"
Il do not know"
After the testimony Of Mr. Hodsor
explanatory testimony was given by
John p. Hudson.
DR.. Corkran was called late yester.
day to testify on charges Of high i'm
prudence and unministerial character
He was asked TO tell his relations to the
sale Of Standard Telephone stock lie
said:
Il was led to take stock in the COM
pany several years past with no re.
turns. / tried to sell but could moi
/ do so to any advantage. / did at on,
time declare a dividend of ten per cent
mostly i'm stock. I occasionally attend.
ed meetings Of the stockholders. Occa.
sionaly 1 heard OF a few selling at fifty
per cent. At one meeting I tried har,
to sell my stock, but no one would bu!
it,
zone day Mr. Baker requested me q
come to Dover and try to sell our stool
to Mr.. Richardson. He was not at tina
time ready to buy. No definite prop
ositlon as to price was made He salt
time to come. He did not want us &
tell anyone he would like to have fl
lest some put a fancy price on tn
stock. He said he would want all tn
stock so there would be no obstruc
ton TO radical Improvements. He sal
his manager, Mr.. Baker, knew some
thing Of the plant.
"A few days later a meeting OF Ia
/ stockholders was held at Crisheld.
, tried at that meeting to sell my stock
made a statement that I would eithe
? sell my stock or buy and ask for Offers
{ This proposition was made: We wi
J give you fifty per cent. for your stOc
/ or we viii take seventy-five per CEN
for ours / began to consider how
could pay II I bought 1 stated tina
. 1 had friends of my sister and that
she was willing I could pay, and finall
agreed TO pay seventy-five per cent q
the original cost. minus the dividend.
"Only part of the Crisheld stockhold
b ers We're present. Those present a
agreed to deliver at IS per cent. ratl
e asked E. PAWyatt TO help me reac
other parties. Mr.. Hodson, Mr.. Bake
I and myself left and went to Dover II
e and Mr.. Richardson in his office CAV
the substance Of an agreement in Girls
}, field. I was doing the talking at n
time. He asked our price and l said
h would like to have six per cent on m
money. He agreed and said il
4 bought any he must have It all. W
agreed to keep It secret. but the stool