The Montgomery advertiser., 1906-08-21
HEAVY BOND
 IS REQUIRED
tcontlnusd from Page onsJ

testified that this letter and several like it were delivered to him by Hays. These letters had Gilbert & Clay, New Orleans" in the upper left hand corner.
 He testified that these envelopes had conte'-ed receipts for amounts paid In by him and that all such acknowledge ments were addressed to him oy the New Orleans house as Webster, care Gilbert & Clay, fin this city, and deify- cred to him by that concern. A num- Der of these receipts were introduced and identified by the witness. A fele- gram was introduced. which advised the purchase of July rather than Octo- Der cotton. Chisolm stated that this had been shown him by sims
 The confirmation of his contracts from the head offices to the company were then identified A memorandum book of Chisolm's showing his losses which he had used in adjusting his cash balance with the bank, was intro- duced and acknowledged
 He next testified that Sims called him up every morning, advising him of the opening quotations of the market. He said that on one or two occasions lis trades with Gilbert & Clay showed a profit and these were paid him either by a. chashier's check or their personal check on the American Trust and Saw lngs Bank.
 The two cashiers checks were then produced in court and identified and the witness testified that he had asked Sims for cash but that Sims had com promised by the cashiers check instead of a personal check. He had told Sims that s. M Webster was friend of his diving in Augusta, Ga. He answered negatively the question if time enough had elapsed between the time that Sims notified him he was due money and the lime he paid It. As all demands were paid immediately upon demand when Sims had asked for the order from $. M webster he had told Sims that 1t would be impossible to secure 1t. Sims then told him he could not carry the account with Gilbert and Clay unless the power of attorney was furnished but that he thought that he (Sims) could arrange to carry the account in New York.
 This worked the closing of his &C., count with Gilbert and Clay though Sims continued to call him up and tell him of the market. He testified that he did not touch the reserve fund until his departure for his vacation rendered it necessary for him to cover the shor- tage. He said the reserve box was opened but two or three times a year and that he had every reason to be- IGNe tuaI Ab WOuAu bo OpSuS0 WhlAc he was away. He said that every cent of the embedded money had gone into the speculatlons, that it had been kept entirely separate from hIs own money and none of 1t had been spent for per- sonal uses or expenses.
 Staying at the Hotel.
 Tn the cross examination Mir. Lane immediately brought out the fact that Chisholm had been staying at the Hill man and Birmingham Hotel since his arrest. The lawyer attempted to make the witness state that he believed that the bank was paying for his hotel bill. The witness persisted in stating that he did not know who was paying it.
 The witness testified that when he was first arrested he was taken to Walker Percy's office in the Woodward building.
 Mir. Lane asked him if he did not tell the bank directors assembled there that he was solely responsible for the dedication and intended to shoulder the entire responsibility.
 Chosholm stated that his first meet