The Bridgeport evening farmer., 1909-06-24
MILLIONS LOANED
 TO NIXON EFT. AIS. o. F. BROOKER DID NOT KNOW OF THEM THOUGH A DIRECT
 OR OF REPUBLIC TRUST co. Ship Trust Matters Again Had He Known Would Have Protese- ed Against Transaction Which Guaranteed s2,5Oo, 900 Advance to Nixon and Dresser.
Ship Trust Matters Again

Nixon and Dresser.
 Sartoga Springs. June 24.-Although Charles F. Brooker of Ansonia, Conn. a member of the Republican National Committee was a director of the Trust Company of the Republic and a> mem Der of it's Executive Committee dur ing the period in 1902 in which it was engaged in f1nacing the United States Shipbuilding company. he had no knowledge of the loans which were made to various persons with ship building securities as collateral, ac- cording to testimony he gave today in the trial of the case of Charles H. Kavariaugh against the directors or Court Justice Van Kirk to compel an accounting and restoration of moneys alleged to have been lost in the ship building company transactions.
 Brooker became a director or the company in April, but testified that he had no knowledge of it's dealings with the shipbuilding company until he was advised on October Il at meeting or the Executive Committee held in the office of Stuyvesant Fish. Althoukh he was present at a meeting or the Executive Committee on July 22, after various loans had been made to John interested in promoting the shipbuild- ing company he d3d not know that these loans had been made Except
 in a general way, Brooker said, ne loans and could not name single loan made at that time.
 At the October meeting in F1sh's office he had learned that sums running into the millions had been ao- vauced to the shipbuilding concern and that the trust company had guar anteed loans made by other institu- tions to Nixon and Dresser amounting to $2.550.O00 which had been used Tn promoting the shipbuilding project.
 At a meeting he had approved a sale of s5 $50 GOO of stocks and bonds of the shipbuilding company at 75. and at the same time had approved or a purchase of $507 ,000 in similar securi-
 T approved it because I thought it a good transaction for the trust com pany at the titne.'' said Brooker.
 Brooker said he did not know that the trust company could not legally own stock in the shipbuilding company beyond $1e0, 900. as he had never ex- amined the law governing the invest ments of trust companies In New ork State.
 Had he known of these various tram sections Brooker said he would have protested against making loans or more than s1.500,000 to LNwis Nixon; 900 Nixon and Dresser loans: against the investment of shipbuilding securi- ties and against the loans made to John w. Young and others.
 Brooker said he was president of the American Brass Company, presi- dent of the Torrington, Conn.,, Savings bank a director in the Ansonia Ma tional bank and a director of the New York. New Haven & Hartford Rail- road company
 Asked on cross-examination as to where he was during the period of his directorship in the trust company during 1902, Brooker said that upon his return from Bermuda about April 1, he had spent April and May attending to his various interests in Waterbury, Ansonia, Torrington and New York. He was in the White Mountains dur ing a part of July and August and had gone home about September 1. A month later he had gone to Hot Springs Va. where he had remained until just before Christmas.
 Dresser had asked him originally to become a. member of the trust com pany and to serve as a director. He Stuyvesant Fish. Herbert L.. Satter- lee and other reputable men were to be directors.
 Brooker told of the subsequent or ganization of the Sheldon syndicate to relieve the trust company of it's ship building company obligations to which he had subscribed $50, 900, which was paid late in October. A copy of the syndicate agreement was put in evil dence. Brooker soon after resigned as a director and as a member of the Executive Committee of the company. Brooker intends to depart for Europe on Tuesday and his testimony was taken today so that he could sail on time.