The evening world., 1908-10-17
LETS STOCK co
AFTER LOANS TO
MORSE DUMMY
Bank Allowed Shares Put Up
as Collateral Go From It's
Possession.
PROTEST DID NO GOOD.
Assistant Cashier RADIO Made
Objection to Banks Methods
but Was Turned Down.
PROTEST DID NO GOOD.

Testimony was offered to-day at the
trial before Judge Hough in the Federal
Court. of Charles w Morse and Alfred
H. Curtis, charged with violating the
national banking laws, to show that tho
American Ice stock ostensiby put up
to secure the loans of thousands OF
dollars by the National Bank of North
America to Leslie B. Whiting, a
scvcnteen~year-old messenger boy, was
permitted frequently 10 go out of the
possession of the bank.
This testimony was given by Adolph
RADIO. formerly assistant cashier OF the
Morse hank. who was the first witness
OF the day Rado had charge OF the
making on. OF the loan sheets upon
which as .District-Attorney Stimson
showed Yesterday, appeared the records
OF most of the peculiar Whiting deals.
Assistant District Attorney Wise asked
RADIO about tho loan of 100000 to pavi-
son Brown. the elderly dummy" Dor.
rover who testified yesterday.
"Mr. Curtis. the president OF the bank
came to the loan cage" said Mr.. RADIO.
and told me to enter the loan. / did
so. thought It was unusual, so
wrote the initials a. H, c. after the
entry
Tell what happened on the occasion
OF the first renewal of the original loan
to Leslie D. whitney,
Rado Protested.
1T was as I recall. Oct /, 1906 was
told by Mr. Curtis to credit Whiting
with loan OF $4,000 on the collateral
OF 1000 shares of American Ice. l pro-
tested. said: MIR. Curtis. this is not
right He said to me: IT is all right
MIR Morse has made great deal of
money for the bank and he is going TO
end this stock up thirty or forty points.
Some day just prior 10 Oct. 1.-The exact
date cannot recall-I went to Mr.. Cur
tbs and told him that the shares of ice
stock upon which the Whiting loan had
been based ought to be in the bank He
told me to go ahead and obey orders
Detail a certain conversation which
you had with Morse and Curtis
jointly?"
1T was some time early In October,
1907, Just before the panic. In the lunch
men at the table during luncheon | said
to Mr.. Morse: IF this Ice stock we are
carrying really belongs to the bank. as
have been led to understand, II should
be credited to the bank and stock ac-
counts. so that 1t may be regularly
passed upon by the directors. Mr..
Morse didn't answer me directly. Ho
turned and said something to Mr.. Cur
tbs. Then he spoke 10 me, but / can't
recall what he said
Lawyers in Dispute.
admission OF this testimony, but II fin
ally went in, and RADIO resumed,
"Mr Curtis" he said, didn't say any,
thing hut he shrugged his shoulders
As we were leaving the lunch-room and
coming down the stairs to the banking
offices | asked Mr.. Curtis IL he was
going 20 put that 1000 shares of ice into
the bond and stock account. He only
shrugged his shoulders again and
walked on
Every word OF this testimony was bit
terly fought by the associated counsel
for Morse ana Curtis.
II was brought out that Rado was In
structed on Oct. II, 1907. 10 accept
Morse's check for ti0O.OO0. and a mystic
rious loan OF 100000 against Morse was
liquideted. 1t was shown yesterday that
Morse at no time on Oct, IA had more
than 81, 800 to his credit in the bank
A Letter to Morse.
Hado Identified signature of Curtis
on The bottom OF letter press copy OF
n letter addressed 10 Morse on July ~,
1908, waen Morse was abroad, Slim
sons IN rnt In Offering tnis letter was
TO show that the bank directors reslly
knew that the bank under cover was
helping 90 support Morse's Ice pool.
The letter read as follows:
My Dear Mr.. Morss'
At tho Board meeting to-day Mr.
Havemeyer and MIR, fNager being
present, the question of our Ice hold
lngs came up, l stated that they al
ready knew that Ne neld I,C0U shares
OF Ice al - ia. showing net proht
TO date OF four points
Mr.. Hayemoyer wrote out this In
closed cablegram, which he asked me-
10 send TO you. As director he
voted TO sell the Ice. AIR. Flagler
said he believed In taking the proflts.
but would not oppose YOU. l kept
(Conlinued on Second Pags.)