Daily Kennebec journal., 1908-12-25
THE GOVERNMENT RESTS
In the Cardenio r. King Triai-Three
Of the 81 Counts Dropped.

BOSTON,, Dec. Z4.-1nc government
rested its case today in the trial Of
Cardenio F. King, the Boston financial
agent, who is under indictment on 81
counts charging larceny of $25.000.
District Attorney Dwyer said. however
that he might have something more
to add to the evidence already sub
mitted and asked for q little more
time. In accordance with this request,
Judge Scholfield granted continuance
of the case until next Monday.
Mr.. Dwyer also announced that he
would drop prosecution on three Of the
81 counts against King.
Today's testimony was principally by
experts and related either to methods
employed by brokers in conducting
their business, or else with Kings book
keeping methods.
Boston. Dec. 24.-William d. Elwe!l. a
stock broker. resumed the stand when
the trial of Cardenio +. King, the finan-
cial agent indicted for larceny of So5.6O0
in 81 counts, was continued in the Suf-
folk county superior criminal court MI
Elwell was questioned regarding the Gus
tom prevailing in brokerage Offices re
garding the use of customers funds. At
torney Herbert Parker of counsel for
King asked the witness to describe the
custom of brokers in taking customers
money left for the purchase of stock AS
sistant District Attorney Dwyer objected
to the question and the jury was dis
missed while the law point was argued
The question was finally admitted and af-
ter the jury had returned to the court
room Mr.. Elwell said that such funds
were taken by the broker mingled with
the brokers' funds and credited among
the brokers' assets. There was no spe-
cific account kept for the customer, he
said.
Herbert j. Davis, an expert accountant.
testified to having made an examination
of Kings books He sa id that he had not
been able to find any entry in any book
showing the purchase of stock for any
particular person who We're among those
mentioned in the Indictment Mr. Dwyer
read off the names of each person men
toned in the Indictment and the sums
of their individual purchases of stock
and in each case the witness replied
when asked if he found such an entry:
II do not"
-
Indebtedness was put in the books with
out evasion or concealment. According
to his statement the assets were found
to be 754,232 and the liabilities $474, 1855,
with surplus on Feb. 23 last of $3.50 066.
The witness said that there was nothing
in the books on Feb. % to show that King
was insolvent.
c. +. Spear transfer clerk at the Old
Colony Trust Co. of this city. in answer
to a question Of how long the transfer
books of the American Woolen Co. were
closed between November. 1907, and Feb.
90 1908. said that the books were closed
from Dec. "a to Jan. 2. and from Feb.
to Feb. 90. Mr.. Dwyer then read a
long list of names of witnesses who tes-
titled that they had ordered American
Woolen stock through King, and asked
the witness if the books showed any stock
to the credit of the witnesses. To each
n'lery the witness replied in the mega
tive.
Expert Accountant Davis was then re-
called. He testified that nowhere in
Kings books was there any record Of GER
tain stocks. the names being read by Mr.