New-York tribune., 1908-12-12
ANOTHER KEIR4N DEAL.
Tried to Get Control of the U. S.
Mortgage and Trust Com panu.

P. J. Keiran missing president OF the Fidelity
Funding Company aspred to get control OF the
United States Mortgage and Trust Company ac-
cording TO the latest developments in the case.
Keiran associated himself with George VI. Cum
ming, at that time president OF the trust COM
pany, in endeavor to purchase control from
the Mutual Life Insurance Company, which owned
a majority of the stock. but was obliged by the
new insurance laws to sell all stock holdings
Cumming obtained from the Mutual Life a con-
tract to purchase majority of the 10000 shares
OF the stock for approximately 81 $4,000 Keiran
went into the deal. but for some reason IT was
not consummated. and Cumming transferred the
contract to George w. Young and lie Roy w
Baldwin, president of the Empire Trust Com
pany. Young and Baldwin did not carry out the
contract. but purchased 200 shares OF the trust
company stock
Mr.. Young said yesterday that he had had no
dealings with Keiran when he took over the con-
tract from Cumming, but he admitted that KeIran
had been interested with Cumming. Mr Young
denied rumor to the effect that he. Cumming
and Keiran had deposited with the Mutual LIE
$4,000 as first payment on the purchase price
Of the entire holdings. and that this $4,000 had
been forfeited because of their inability TO make
payments as they fell due.
Mr.. Young also denied that he had personally,
any OF helrans or Of the Fidelity Funding Com
panys securities as collateral FOR money lent and
ridiculed the report that Keiran or his COMPANY
had his notes for large amount
c G Dickinson. president OF the Carnegie Trust
company SaId that the Catholic institutions
paper his Company held a result OF its deal
ings with the Fidelity Funding COMPANY were
paying up rapidly. and that he looked for no mora
complications.
Willard v King. president OF the Columbia Trust
Company, said that his company had never been a
creditor OF the Fidelity Funding Company nor
any one connected with It. directly or indirectly.
nor had IT had any relations OF any description
with that company. The company was asked to
act as trustee for .the Fidelity Funding Company
he said. but had refused
Thomas L. James president OF the Lincoln Ma
uonal Bank said his bank did not now hold and
never had held. any of the obligations OF the
Fidelity Funding Company; nor had It ever dis
counted any OF that company's paper for a Gus
toner. Its paper was. however. frequently offered
Mt the bank. he said, but invariably refused
for good and sufficient reasons
1t was learned yesterday that John w Gates
had taken $4,000 Of the Fidelity Funding Com
pany's paper. A close friend OF Mr.. Gates said
however. that the fnancer had decided 10 present
the note which he held to the institution which
had issued it and chalk the OF to profit
and loss account.
The clash for supremacy between the state and
federal receivers will come up for decision this
morning In the federal court No news OF the
whereabouts OF Kelran received here yester-
day. although his friends continue to say that he
will up presently and explain everything TO
the satisfaction Of all his creditors.