The evening world., 1908-10-28
other directors NJ alleged borrowers.
but didn't succeed.
Stlmson Cross. Examines.

LAWYERS and no, Curtis's who obieote,
to Stimson's questions.
Morse Proposed Loans,
n MA NJ n,o,s, ,,r,,,,so ot ,bo.,
,..,. -. ,..,i..,. -, -.
,,,,,,,,.-. --,,-, ~. ,t, ~.
.r.aao, ~, -, ,,a,,,,
rs,, - 49, ,.
"' e'"' "''''' 'i'''0 ''"'''
VI piu you Ano" you ''u'u.' | ENFORCE
''ese summarizes ~ knew VV"'u no'
nioroe 'herl iesailF' nut ''' my oahkihs
IRE nave oeeh used 10 accepted Verpal
contracts.
v. When Morse TOOK over the carroll
loan, did not the bank put up the money
for the deal? A. Yes.
Q. And the bank paid the interest to
MIR. Carroll? A. Yes.
Q. Only bank money was used? A. So
far as ! know, yes.
Q. And Mr.. Morse personally didn't
put UP cent? A. That was my under
standing.
Q. Didn't you know the bank was to
get the profits? a. Not until Mr. Morse
gave the profits to us in the form of a
presentation or gift.
No Legal Guarantee.
@. If the loans showed q loss all Won
had for protection to the hank was Mr.
Morse's oral guaranteed A yes +bot
and the notes
O. You didn't expect. did Won. that
you could ever collect the amounts of
these notes from Leslie b. Whiting or
Kate Wilson? A. Well, no.
O. Didn't you think IT right that Mr..
Morse should pay the losses when any
occurred! "A. Yes. Perhaps.
well. why didn't you ask him for
the money TO cover these losses?'
After long hesitation Curtis said:
thousht IL perfectly proper TO carry
the losses since he gave us all the
Ptoii's.
MI @.,iiisoi hammered away uhtii lie
p.ofeu 'i'a. 'ne o'iiso''uateu wesley
oie' ,o''t na' 'a'ie'' LII ousn '''e APP
CIV pion's eNea u 'he ph,lh oy
w ''"'e oeNoi'e uei''' VI
WV S'e.vvV'
inc 'r'd' nesurneo'
Curtis returned TO the witness stand
as soon as court opened to-day.
DID your? asked olcott, by way of
beginning. report to your directors the
fact that Morse had given to the bank
the S4'Wo which ne cleared on the hrst
oeai IN ice IN i''o!
oiu' SAID curtis IN MS hlgh'
strained eohes' ihat was III January
iney all sihiieo ana seemed very niucr
p'easeu "heh lhey hehru li'at me loan
~h,0H we were taiiS,'s iof MI hofse
nsIo paiu US 50 Iiciiy'
o'"er 'd'NS D'o IT,
Suft.e went oh W say 'iia' ne usually
kept lhe requiieo '"eii'S-HNe per cent
" mel oeposns on manu-, ou' 'hat IN sep
.eihoei anu oo'ooei' i'V'' many oi 'he
pieses' pai'Ns ie' 'heir cash IAN pelo"
'',at le uie'
WI. NUS hao iio'i''iis 10 40 Win the
si4I'W' 'oah 10 wesley Al: oier IN Ice
STOCK IN August 1870 as ne was away
oh MS vacation al lhat time
remember saIo o"r'is' lnat Nauo
SPOKE OF the h'sh price at "hich we
were taxing thte z,ooV shares or Ice
oHered as collateral Tor the loan. It's
lace value being Sls2.oo' and said to
Haoo: THAT'S ALL RIGHT, RADIO,
YOU KNOW THAT'S THE LITTLE
MANS NOTE"
"W-ho did you mean by Little
n.
"Mr. Morse" said Curtis. "That
was the name by which he wa,
Familiarity known I'm the bank
Mr.. Olcott came now tn a ticklish
-. ~ ~, -, -.
point lie mad TO ask curtis TO tell why
no interest was charged up to the vari-
o,s Io.,s a,d ,,..,, ,,.h., Too s,,,r,,a5
gus ''aNS anu why when ice s'u''ipeu
ON the market the bank stood the losses.
Whv Bank Stood osses
WELL" said Mr.. Curtis, slowly. 1T
didn't seem fair to me 10 assess Mr.
Morsa for ,nteres, or for smsm Iossas
Sc toi interest," UT LOT Small losses
when ne mao ALREADY gwen US IN pFonts
W ~ Deee'''"ei' t'oo. t"ere
had peen Two losses-one OF Sl2.1U and |
enc of SO 0OO-and / charged them off to |
cor,,,,ss,ors ,,naa, rroet o,a 49,,
N'' P''''' "'iu to's'
.. Was this by your order? A. Yes. |
] assumed the responsibility I thought |
=, mn ,,oro ,ho, Cad, sI,,oa No., 20
ho more IMAM iu'r since we had
gained so heavily in the advances that |
we should meet the arops. especialIv
s,,,o., mo -. ,,,,, ,o,. ,,,., -. "a. |
e'''ee VIC were sun 'ei' WIN net proht
OF more than $4,000.
In explanation of the Government
charps tha, Norsa and C,,r,to oo,,s,,,ras
a., ~ mn ts 40, pc attu ourlts eonsplFSd
Tres s,,rv he fec, NM tbsU 49, oi INC