New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-08-14
WINDSOR TRUST TO ACT
= p sHONTS BRINGS -1BOCT
1OAN LNVESTIG1TION.
p,,,,b Chatfng in TOmbs, Still Talks
of uaEing Troable for Big
UyaR Street Interests.


s''".r -.n,i,b dumped on the market, is TO be
N"' .,biert Of careful Investigation. Not only
ihs Grand Jury. which is now inquiring into
AL expressed its intention of getting at
:" 80, truth. but the directors will insist
uF rigid investigation by the responsible
,als ~ the trust company.
Gun. .be investigation by the company officials
-aors p Shonts. president of the INTERIOR
ponia Transit Company and one OF the
.,o-s oos of the windsor Trust Company, is re-
.sfh,e Acting on HIS suggestion, President
- .l,,n Young has already ordered that the
licences attending the loan be carefully
.,a5 and has informed the board OF di-
,o-s that ne viii make report of the investi-
.,.n st n special meeting OF the board. 10 be
zIed soon
~se grand Jury asked Mr.. Mott and Mr Kehoe.
-, assistant district attorneys. yesterday for
,-,.-natjon on the trust companys connection
-s,b the transaction. Frederick Strauss. Of the
,snking firm Of J. & ". Seligman * Co. Of No.
Ui,,srn street is the foreman Of the jury, on
mich are many business men.
his considered a certainty that Sterling Bir-
,,neham who has admitted that he received
ESQ as present" from somebody connected
vt,h the deal will be asked 10 sever his connec-
fon with the trust company. Considerable sur
,riss was expressed yesterday that. in view OF
ne publicity given 10 the transaction and TO
Brmngham's admission. the state Superin-
v,dent Of Banking had not taken action.
Under Section 294 Of the Penal Code any on
csr or employe Of a bank OF trust company who
receives any Commission. emolument gratuity
r rreward" under certain circumstances is guilty
cts nisdemeanor. Brminghams acceptance Of /
The $50 has not been brought TO the attention
q The District Attorney, nor has any request
for an explauation been addressed 10 the Wind
m Trust Company
TIE grand jury devoted a large part Of its 4
tine yesterday 20 an investigation of the loan /
1900 made on Eclipse on stock by Donald 1
! Persch, the money for which was furnished
NAD D. F. Adams, OF Boston. Mr.. Adams T.
gave out last night copy OF q form of note 4
rskh he says ne always uses in making loans. 4
Under this fo-En the borrower gives 20 the +
aier the right to use the collateral practically 4
y hs lender sees IT. providing he produces col I
lateral Of the same amount and kind at the ma 1
msty Of the obligation.
HOPES FOR PERsCH's RELEASE TO-DAY. |
While the grand jury was interrogating a
rmber Of witnesses who had some part in the /
an trxnsaction. John r. Mcintyre counsel for 4
fmld l. Fersch was trying again yesterday to 4
h client out of the Tombs on writ OF /
assu corpus. He failed in his effort as Jus /
IA Lehman. Of the Supreme Court held that in 1
new Of the fact that Persch was charged with 4
~ hrceny Of more than 100000 worth OF /
suites bail Of 10000 was not excessive.
ny Mcintyre then started out 20 raise the 4
noaey 70 obtain the release OF the young broker 4
had 50 far succeeded last night that he said 4
hoped TO get a surety company 20 go on /
fs'rh's bail bond to-day. II there is any ques-
um about this form Of bond, Mr.. Mcintyre said /
s~s confident he could give rfal estate secur-
Wd such Character as 20 overcome any objec-
u'rs Of the District Attorney TO his clients re-
ease
rersch who hasn't been any too well plea ased /
the length OF time he has had 20 stay in the /
lonns, was said last night 10 be Grating under |
ne Indifference Of the person who. Mr McIn- I
we asserts. used him as a tool and 10 be on |
point Of giving information that might lead 4
the clearing up OF the now clouded features
' ne ransaction and 20 the tracing Of the re-
Possibility.
rsfsch his friends say. is rather resentful that
os interests IN Wall Street" who they say
De out 70 wrest possession Of Heinze's copper /
aqtrties from him and who got Persch TO act /
'aenl should have been so backward IN going \
rescue especially after they had assured |
mere would Be no come back in Offering
~n 70 Joyce. and that he could depend upon /
- HOOK out for any Unforeseen exigency
collateral
'sch Sticks 10 hts declared intention, the
!, ,s VI the man who Is said TO have put up /
=" On Joyce and Heinze may lead 20 a 4
- VI New York Stock Exchange house.
s.s oeen known as a representative OF /
ra on interests Persch il Is said. will
an. ah circumstances tell how this man
tu., A'ih and suggested that be offer the loan
ss, - - una that he never gave John +. Sher-
~0ers TO obtain or to sell the stock.
MORE ARRESTS MIGHT FOLLOW
ssr ~ 80 can show that the stock was taken
su hs .'f i''usof Trust Conpany's Offices with
"A. oNieoge and without lis order. and 4
so sold without lis kno,vle6ee ,,,l ,.r,1ar
are likely 10 follow. especially II
,.r snow thar be signed the orders on re-
l., s aiter the actual transactions had
Ia sa-se'ea and those directly Interested in
asu..-.' yeeaine worried over the District At
Investigation.
y di,,o,..' ~sip % clear him Of any part IN /
ascr,' ''sDa ot The stock and Of tie charge Of
%. esp's'aniy as DE contends that he can
lov,a,. '' ulsii1buti"a Of the profits made
sdsr ma. ''l''i"i wss made by him only 1
ssos H. 'o ulal he got only small
sale Persch's isr.,...
-Eaf ths r. lawyer Nas trying 20 get him I
~sss ". the grand jury, together with /
S'anev. anu hehoe. the Assistant District |
"A aers -, are conducting the investiga-
NH 1oa, s I" get al the bottom Of the /
Adams J. -'iil'se on stock, for which A. ID. /
nnney Al"f Is said 10 have Furnished /
No. y p-,r, u carpenter a notary public. 1
s's and q street, the building I'm which |
s9s Jac,., had Offices they learned that 1
an. bra,.s. an Office boy employed by /
y Rstx,se. ts'sn there on August T. the |
<t net a, s~ ~ Philadelphia. is said 20
NadIns 'n and Reilly in the EauitabIs I