The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1909-02-28
States Attorney Wayman Speaks
Plainly About indictments
for Conspiracy
SENSATIONAL TESTIMONY
At CLOSE OF THE HEARING
w. Vernon Booth and Frederick s..
Robbins Are Indicted and Will Be
Arrested on Monday on
Felony Charge.

Chicago, February 27.-(Special.)-W.
Vernon Booth and Frederick S. Robbins
will be arrested Monday pending their
release on $4,000 bail, the amount fixed
in an Indictment voted against them to-
day, charging felonious conspiracy by
which $30oO00 was gotten from the Con-
tinental bank of Chicago by false pre-
tense.
The penalty as fixed by law for the
offense charged against Booth, who is
president of A. Booth & Co., the wrecked
fish trust, and Robbins, who was assist
ant treasurer, is five years in the peni-
tentiary and $1,000 fine. or both. as
maximum.
Booth is president of A. Booth & Co,
the corporation which the United States
government proved to be an international
fish trust He is one of the social leaders
of Chicago. He was remarked as ousl-
ness man of probity and unchallenged n
tegrity until the discovery that forced
bankruptcy last December and the dis
closures that have followed. Robbins was
assistant treasurer of the corporation.
The indictment carries three counts. It
cir nspidacy to commit an unlaw
unlawful act being what
lal code is defined as the
me.
raey statute, section 46 of
iminal code, however. covers
officially as we'll both in the
the act of obtaining money
etenses and in promising the
isponsibility as individuals of
officers.
Basis of Charge.
jasis of the charge is the false
ent of last year signed by Rob-
bins, and, according to the evidence be-
fore the grand jury, ordered by Booth,
whereby banks were induced to lend mill
lions to the insolvent trust on representa-
tions that its assets were many times
greater than they really we're and the
liabilities correspondingly less.
The official charge is based on the
transaction of July 10, 1908, when the Con-
tinental National bank lent to the COM
pany 100000 in three checks of 100000
each, issued to take up three drafts of
the same amount signed by w. Vernon
Booth as president of the corporation.
The returning of the indictments was
attended with a dramatic scene. Through
an error the original true bill was voted
against booth and Walter u. I.o.Dlns.
The latter name is that of the father of
Frederick S. Robbins. He was the treas
urer of the company The Indictment
was later changed to read IF. s. Rob-
bins.
Prominent Witnesses.
The witnesses whose names appear on
the back of the Indictment are Ira M
Smith, the former vice president of the
company; Alexander Robertson, second
vice president of the Continental National
bank; w. J. Chalmers. the receiver for
the corporation, and N. ]. Ford repre-
senting the Corn Exchange National
bank.
The testimony of Smith was the wind
up of the hearing and is said to have
been sensational.
Smith came in with his personal coun-
sel, Jesse A. Baldwin. He is the man
who is believed to have more definite
knowledge than any otner individual of
the actions of the corporation and he has
led over the whole ground.
Robertson testified to the transfer of
the money and supplied the drafts and
checks which made up the transaction.
He also gave the necessary testimony
a. ba han
statements of 1908 in good faith and made
the loan because it believed 1t to be
true.
False Reports.
Receiver Chalmers brought in the books
of the corporation and completed the
case by showing thar the reports were
false. Ford supplied some books and
records and his testimony was not of his
own personal knowledge.
States Attorney Wayman stated that
the inquiry against those who contribu-
ted to the frauds on Chicago and New
York banks on behalf of the defunct cor
poration to the extent of about $3,0OO,000
by no means end in the one Indictment.
representing but single transaction with
a single bank
"I cannot say whether there will be
more indictments or whether we have evil
dence involving others in the Frauds"
he said, .'but I can say that this indict-
ment does not represent all the frauds
which have been presented to me In this
case.
This is one of the grossest, most flag
rant and most comprehensive cases of
crooked finance have ever heard of. 1t
is a case in which certain men trafficked
upon their social standing and their ap-
parent financial soundness to swindle
some Of our shrewdest bankers out of
millions on representations which We're
absolutely false, which were made with
nj intent except of fraud and which con-
sfit,ts h'-~h -;als a confidence game
every c5n-ae n Of the law