New-York tribune., 1909-08-24
MAY IGNORE MR.. SHONTS
WINDSOR,S PART IN LOAN.
Directors Won't Order Investigation
To-dau. Counsel Says.

According to Jordan J. Rollins. the executive
committee N the board of directors OF the WIND
Trust Company will ignore to-day the request
OF Theodore p. shonts for full investigation or
the trust companys part in the Joyce s500o floan.
Mr.. Rollins when asked yesterday II the executive
committee would consider the loan at its meeting
to-day. replied: mo. 1t viii not
Failure act the part Of the trust company's
executive committee may result IN the designations
OF Mr. Shonts and several other members OF the
board OF directors. When Mr.. Shonts learned yes
terday OF the declaration OF Mr.. Rollins. he called
at for certain information and wrote a letter
10 the company. II is understood that this letter
Mr. Shonts's position fully and clearly, and
s. In the nature OF ultirnatum.
Mr.. Rollins. who is director OF the company
and its counsel. asked yesterday IL the
scutve committee would meet to-day. He replied
that II the regular day for the executive
rnittee's meeting There would be special meet
ing OF the board OF directors following the meet
ing OF the executive committee he said in reply
10 another question
VIII the executive committee. consider the Joyce
ioan?" he asked.
Il don't know OF any reason Why 1t should" he
replied.
question is: VIII the executive committee consider
that loanT"
NO" Mr Rollins answered. 1T will not
Then the executive committee intends TO ignore
Mr.. Shonts9'
You will have 10 ask Mr. shnnts about that
Mr.. Rollins replied
Mr.. shonts has asked that the matter be taken
mp" Mr. Rollins was told
Has he?" Mr. Rollins inquired.
Yes" he was told. He has. We all know
that"
IF You know 81" Mr.. Rollins said. what do you
nsk fory
Il have asked you," the reporter said. IF the |
executive committee intends 10 ignore Mr. Shonts"
You will have TO ask Mr. Shonts" Mr Rollins /
sgsin replied.
To the suggestion that ii would be useless TO ask
Mr.. Shonts about The intentions other persons.
Mr.. Rollins only voachsafed the reply You will
have 10 ask MIR. Shonts"
When Mr.. shonts was told Of Mr. Ronss l
statement. he said that he had yet received a /
reply 20 HIS last communication 10 the Windsor i
Trust Company. He added that he could make \
further public statement until after the executive j
oommtree OF the company had met He then wrote
his letter
Before the executive committee OF the trust COM
pany held its last meeting August IL Mr.. Shonts
rolo President Young that he thought the directors
should take action 10 purge the company Of any
stain that might attach 10 IL because of the Joyce
lOsn. After the meeting of the committee Mr.. |
Young went 10 Mr. Shontss Office and they had a /
long talk. in the course Of which Mr.. Shonts eN-
pressed his views fully.
Mr. Young asked Mr. Shonts to nut his wishes
in writing. and that night Nr Shonts sent a letter
10 MIR. Young in which Mr. Shonts stated his con-
ception Of the duties of directors He said that
name trust" implied that the company abso-
psny should come out with full and frank public
statement Of the affair. matter who was hit. IT
Is 10 this letter that Mr.. shonts has received no
reply.
The menbers of the executive committee are
John Alvin Young president Of the company; Jor- |
dan J. Rollins. counsel end a director; Cornelius
Vanderbilt. Robert H. McCurdy and A. Gordon
Norrie. secretary and a vise-president
The grand jury handed down yesterday super
sedng indictment against W. /. Clark who was in
dcted last week In connection with the loan trans
action This indictment is a result OF the District
Attorneys Office learning that Clark had been sent
10 the Ernira Reformatory several years ago. As 1
second offender Clark viii. If convicted have TO
serve the limit OF ten years for grand larceny in |
the first degree. The court may add. al its dis |
erection. the remsander of Clsrk's former sentence.
he was psroled after serving thirteen months Il |
Is expected that Clark will he arraigned before
Judge Muaueen to-day and that his bail OF SO ODO
Will be increased to s25.0OO
Donald l. Persch, when arraigned before Judge |
Muoueen yesterday. pleaded not guilty 10 the two
indictments for grand larceny on which he Is held
under S50eao hail. II thought that he might
make statement Of what ne knows about the
transaction. hut he stiI hopes make terms with
the District Attorney. and went back 20 the Tombs
yesterday after entering bis plea.
A D. F. Adams Of Boston. has as Yet been un-
able TO get hail after being locked up in the Tombs
on an indictment in connection with the Everett,
Eclipse on stock loan. The grand Jury is expected
10 take M the loan case again Tomorrow as the
District Attorney hopes 10 get Two more indict-
ments.
GOULD DIVORCE DECREE LIKELY to- DAY
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