New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-01-28
TELLS OF COWS PLANS
BROOKLYN NAN ON GRILL
District Attorney Calls ASSETS OF
Com NAM Wind and Water

=, ,-.-,,, ,or the prosecution in the trial OF
William Cow the Brooklyn banker. before Justice
Crane yesterday. District Attorney John r olaiAe
AZ EinRs County detailed each step in the scnene
b. z-,ic,. the banker who is charged with grand
, larceny made the international Trust Company
corporation Of 100000 assets in three days
Mr.. Gov is being tried for the alleged appropria-
ton Of $4,000 from the estate OF Carrie McGure'
in The Borough Bank. Brooklyn, and being resPon-
.Ible Tor the vreciing Of shat institution In the
scr manic Two witnesses were sworn yesterday
.ans Of whom testified to the tampering with the
Mcclure account and the other the details OF
loan secured by Mr.. Cow by pledgfng as collateral
the stock for the purchase OF which ne borrowed
sbe money
Nj Cow was indicted for grand larceny with
Reward E Maxwell who committed suicide, and
Arthur d. Campbell, the cashier. who viii escape
trial by acting witness for the prosecution
Only SEQ worth Of stock OF the International
, Trust Company had been sold three days before
October l. 1901 the date which the company was
open for business and on which the activity or
tbs State Banking Department made 1t necessary
for the company TO show 100000 in assets, said
District Attorney Clarke. The hard times made 1t
almost impossible get rid of the stock. and So
according to the prosecutor the following steps
were taken raise the needed 1926. 600:
At Mr. Cows direction. Howard Maxwell Dor
rowed slooooo from the First National Bank Man
haitian. by using collateral for their note stock
subscription receipts, which made II appear that
tl25.00o In stock mad been sold. In the same way,
$500 COO was borrowed from the Oriental Bank,
Manhattan by a note and receipts for $4,000 in
International Trust Company stock which Mr.
tioR- supposed 70 have purchased ON sep
fember 30 the banking officials OF the state In
: formed Mr.. Cow that unless the needed SS95loo
was secured by the next day they would not 81
low the International Trust Company TO start
business Stock receipts the International com
pany were furnished Nelson B. Burr and John ,.
Jenkins Borough Bank directors. and were used
c7kE -Ofa SEhich
being refused by the Oriental Bank, were made 10
appear as If discounted by the Borough Bank and
We're then accepted by the Oriental OFFICIALS s-'o
Z eDe being provided after Mr.. Maxwell gave an ao-
ditionai note for that amount on the Borough
Bank The si45.o9o still needed was taken from the
account ot Carrie Mcclure IN the Borough BANK
Cow knew that the Burr and Jenkins notes were
bogus" continued District Attorney Clarke ne
: knew because $4,000 was the banks largest Hds-
V;dTsl loan erd these for Sl46.0O each. lie
,,sva~ intended that they should go through the
Borough Bank, because the reserve was low. ana
she institution had raise money instead OF IoaIns
81 Jenkins win show you, cverdreW ms &C
count $1,000 and Burr owed $4,000 to the bank Cow
never mentioned the s4s0Oo notes used TO deceive
the Oriental Bank, their loan of $4,000 before
the meeting of the Borough Bank directors None
of these men, having but very little on deposit 10
The bank had a claim tie Carrie Mcclure &C
count and couldn't guarantee to restore any part OF
1t they used. Gentlemen, that, in brief is the
trust company organized chiefly on wind and
paper
Martin n. Lttleton. attorney for the oefence'
asked vainly for dismissal OF the indictment on
The ground Of incorporate characterizatons by the
District Attorney.
Robert J. Cuddihy. executor OF the Carrie Nc
CURE estate testified that he deposited certified
check OF SIS 900 in the Borough Bank September
20 hIr. Cow asking him at the time II the account
was TO IN the institution for any length OF
ez-ffyl Sei5 he told
was TO be withdrawn shortly for the purchase OF
municipal bonds. Mr. Cuddihy said that he was
responsible for Of the deposits OF the Carrie
Mcclure estate, which were shown on the bank
= books 70 have been made as follows: October 10
s155eoo; October t. s120 oo; October O. $500 in
rote signed bg a Mr.: Dooittle.
Richard Jones. president of the Oriental Bank
Manhattan, said that Mr.. Cows scheme was to
merge the Brooklyn and Borough banks, of Brook
lyn, into the International Trust Company. He
added thet the loan Of $4,000 made TO Mr.. Cow,
for which receipts the latter's shares OF the
Brooklyn and Borough banks and the international
Trust Company used collateral was de-
voted TO the purchase of these shares,
The trial viii be resumed to-day.