The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-05-26

p:hAnds OF reoeavore, ana . ioreciosur0 Sui
b According to Mr.. MAcIntyre 1t was Fishe
v1,o conceived the project Of consoli-
dating the trolley roads to make up the
Hudson Valley Railway Company. Fishel
b said TO have represented that he was Q
s.s vas ssx spread about ses tSa The
we're backing the Hudson Valley enterprise
He was stall on the board OF the
;" trust company when the Hudson valley
Sonsohdaon plan n &c sSa sane
these loans beginning IN August. 1902 -. 10
nectsd With he Rutland properties. on
which 10000 was loaned later.
, no CONNECTION With his Virginia PASSENGER
council Tor Frank Gould, issued . state
! mont yesterday. 1t says to begin w1tn that
1rank Gould was never Interested ~ any any
not Interested directly or indirectly in the
Virginia Passenger and Power dee! uhnl
After the loans had been made nor was ne
at that time a director OF the trust DOM,
rpany. The transaction by which frank ran ana .ao
! abatement said 30 far from being injurious
, 10 the tTlpt company. was highly beneficial
= to its interests, a.
1T may DO further said. went on Mr..
Battle's statement. that az no Tine WINE
It,
y pany did that company loan any money
On any securities in which he or any mem
. Der Of his family was Interested 30 lar as
, be knows.
1t was after the Virginia and hudson
River deals that Fisher appeared as pro-
'pnoter OF the Southern Textile company
This was q scheme to consolidate eighty
cotton mills in the South. ACCORDING 70
tho testimony upon which the indict ments
against him are based. Fisher IN November
az 10 ,h,;r ~ Tho finance COM
mittee Of the company, which had been
organized under New Jersey laws. i.
Ashby Blythe of Philadelphia, Peter ".
d Corr Of Taunton, Mass, and Tracy W.
Pratt OF Huntsville. Ala, cotton mill owners
we're fellow directors. In November fisher'
the test imony says. represented to the d.
yrectors that he was unable TO make any
,tfurt her advances to the company, which ne
had agreed to finance, and that it would Pc
necessary In order to raise money ior tne
scompany to negotiate q note for &20OOO
TO be underwritten by certain directors.
Fisher said that Edwin Langdon. presi-
dent Of the Merchants Trust Company,
had agreed to discount the note or notes.
Upon these represent ations a resolution
was adopted authorizing the execution OF
two not e. for $4,000. They. were under
written by six directors OF the company
Corr, Blythe. Pratt, Fisher. Ernest c. Brown
and David Bennett King.
These notes, said Mr. Battle Yesterday
Blythe, Corr and Pratt supposed they had
been discounted with Mr.. Langdon and
the proceeds applied to the benefit OF the
company. When the notes became DUE on
March rs. 1904; Mr.. Fisher rep Pres tee
LanRdon for the Southern Textile Com
pany, and that ne had personally paid on
account the sum Of 5000 and interest to
date and had arranged with Langdon Tor
. renewal of the notes as provided in the
underwriting.
Accordingly, the company executed and
delivered to Fisher It's note for 5000 and
the accrued interest on the supposed loan
of go, 900 to reimburse him for the amount
and also executed renewal note of the
company for $4,000. underwritten by, the
same directors and payable on April 20,
1904:
This note was not paid at maturity.
and Fisher informed Blythe and Corr that
Il would be necessary for them to reimburse
him in the amounts of their respective
Finally. on June a. 1904, |
Fisher told them that he had paid the entire
emount Of the note to iansde lon and nd, had sa
had put up.
Replying to this statement Blythe and
Corr each sent Fisher check for So, $50.
In November 1907 they y were ere surprised
calling upon them for their respective |
undertakings. They began an investi- |
cation and found that the note for SIS 900 |
had not been taken up by Fisher and that |
he had applied the money which they had
sent him to his own use.
Fisher was arrested in March at his Office
ut 81 Wall street on warrant issued by
Ma gistrate Ommen. After long ex-
animation he was held for the Grand Jury, |
which returned four indictments on March !
"A. These indictments charge Fisher with
the embezzlement OF one Of the $4,000 |
notes Of Nov. rs. 1908. with the embezzle-
ment Of the renewal note OF $4,000, with |
the larceny by false pretences of the draft
Of Mr.. Blythe and with the larceny by false
pretences Of the check Of Mr.. Corrs.
Fisher Ia living at the Plaza Hotel. He
wasn't in last night
trust company's affairs have high hopes Of
paying depositors in full without an assess
ment of the stockholders. At least this
was the information given out yesterday.
II Is based on the interest being shown |
by certain financial powers in the Hudson
Valley property. 1t was said to be almost
certain that a price much in excess of |
tho offer of $7OO,OOo will eventually be paid
FOR the property. This would do away |
with any need Of assessing the tockholders
District Attorney Jerome has taken
hand in the trust company mess. He has
been led to believe that some of the cir
cumstances leading up to its failure will
bear investigation, and he has assigned
Assistant District Attorney Iselin to make
The inveatiga ton, Mr., lselin will begin
witnesses to-day.