New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-03-09

.. L.
Twing. tie ceppany,s assistant COUNSEL that ths
indIctmenfs had been found
HEAVY BAIL GIVEN
When court reopened the indicted officers were
hand with their counsel William Rand, ex-
Assistant District Attorney. He asked that the
pleading be adjourned and next Thursday was
finally settled on. The subject of bail was then
taken up. Mr.. Jerome wanted $1,000 on each
Indictment, making $4,000 for each officer. Mr..
Rand contended that this excessive, and
they finally agreed on $1,000 for each indict-
ment. or S12,5 500 for each man. Bail IN this
amount was furnished by Richard Deeves. a
builder and contractor with Offices at No. 300
Broadway and homs at No. IS West SD street.
He offered building valued at $4,000 at Am
sterdam avenue and 10Th street. He IS ons OF
the directors OF the Mutual Reserve.
The alleged ernbezzlements on which two %
the indictments were found were committed on
October "A. 1901 and involved 81. 500 and 81 500.
The other indictments are for forgery in ths
third degree. FOR causing false entries 10 be made
in the company's cash book which was kept
under their direction.
The Indictment charges that $500 was en-
tered IN the cash book as paid 10 Nichols q
Bacon, the attorneys OF P. P Armstrong. to set
tie a claim against the insurance company sris-
ing out OF contract. The indictments allegai
that the money really paid TO Nichols &
Bacon IN settlement Of an action which ]. Doug
lass Wells had previously brought against Fred
erick A. Burnham individually.
The indictments charge that the payment of
$500 was entered as made TO James, Scheu
& Elkus for legal services rendered the COM
rany, when. IN fact. it was paid TO them with 1
Instructions to turn 1t over 10 the attorney OF
]. Douglass Wells and bring about a discontinue
Of suits which Wells had brought against I
EIdridge & Burnham personally
The third forgery charge arises over the paw
rnent OF $4,000 ON September "A. 1901. 20 James,
Schen & EIkus. which was entered as legal ex-
penses for services rendered the company,
when IN fact, IT delivered TO Baldwin 81
White. attorneys for ]. Thompson Patterson,
who was suing Eldrtdge & Burnhan personaIIy.l
MUTUAL RESERVE IN PANIC.
There was much CONSERVATION at the Offices
OF the Mutual Reserve when news of the in I
dictments reached there. The elevator men we're
instructed 20 allow one 10 get on at The
fourth floor. where the accused officials hasr.
their Offices. AT first all three refused absolutely
to see or talk with reporters. but finally Gsorys
Burnham, jr.. vice-president and counsel rnsds
statement.
I'VE have been expecting this" he said and
have engaged William Rand. jr. 70 defend Us.
When We are notified will appear and fur
nish the necessary bonds. ! have been practis-
ing law for the last twenty-five years, and this
is the first time have ever been accused OF any
wrong. have never bean in the criminal courts
and know nothing OF their procedure. Aside
from stating that IL there has been a crime COM
mittsd II is but a technical one do not care 20
discuss ths case"
Testimony before the Armstrong COMMITTEES
went 10 show that the Burnham- -Eldridge COM
bination the Mutual Reserve as best suited
their own interests The prssident for several
years had a salary Of $500 q week and an addi-
tional 5000 week contingent fund. When
this fund was abolished the presidents salary
was raised 70 S700 a week There was a denial
that the cornpsny's officers had paid s4OG0O ta
ex-Superlntendsnt Payn OF the Insurance De-
SPECIAL THROUGH TRAINS TO