New-York tribune., 1909-02-28
W. V. BOOTH INDICTED
FISH TRUSTp' OFFICIALS
ACCUSED.
Alleged Conspiracy to Defroud Con-
tinentaI National Bank of Chicago
Out of $500 900.

Chicago. Feb. 27.-v. Vernon Booth, president Of
4 Booth & Co. the so-called 'ish trust which
went into the hands Of receiver last Sertem-
Der. and F R. Robbins. former assistant treas
urer of the company. were indicted to-day
They with others to the grand jury unknown
are charged with entering into a conspiracy BY
means Of which they secured "wifully mali
ciousIy and feloniously,'' the sum OF 100000
from the Continental National Bank of Chicago
News Of the grand jury's action created sen
sation in Chicago. ". Vernon Booth inherited
from his father what is said to have been the
largest fish business in the world. The elder
Booth was hard working business man who
to his last day could and would clean q fish or
handle sailboat with any of his employees His
SON William Vernon. upon his accession to
power was one OF the best known polo players
in the country and was socially prominent not
only in Chicago but in the East.
Under his leadership. or at least with his
sent 4 Booth & Co. branched out Smaller
concerns were bought in, and several years ago
the company had grown to proportions which
attracted the attention of the United States gov
ernment The firm was brought to trial for ac-
cepting rebates and pleaded guilty to one count
of the indictment The ease is still under con-
sideration by United States District Judge Ian
dis Mr Booth frequently intrusted the man
agenent of9he business to his staff, apparently
believing, in Ncomnlon with the public. that the
big firm was safe from financial difficulties. He
was member Of the Chicago the Chicago Ath-
letic, the Chicago Yacht, the Chicago Golf. On.
wentsta and Union League clubs. and the news
Of the receivership last September was an en-
tire surprise to the public.
A search for assets was instituted before
Master in Chancery Harvey Booth in behalf Of
the creditor banks 10 which the company is al
legged TO owe large sums. The liabilities were
estimated at over -$6,OOoOOO. but the assets. at
first supposed TO be SUFFICIENT. dwindled steadily
as the investigation proceeded, and have un-
officially been estimated as low as 100000
This investigation has not been finished
Sensational testimony, however. was given
by F. R Robbins who was indicted with Mr.
Booth to-day The witness told a startling
story of false statements presented to the banks
to bolster up the tottering credit of the firm.
These statements. by reducing the figures show
ing liability and increasing the assets Mr. Rob
bins said were 100000 away from the true
condition of affairs.
The statement OF July 19. alleged to have been
presented TO the Continental National Bank
forms the basis of to-day's Indictment Mr.
Robbins said that when Mr. Booth learned that
the statement had been made to the banks and
that it was false ne insisted that the banks be
promptly informed of actual conditions This
was done at secret meeting in the Continental
National Bank. the witness said The who
fabric of alleged deception laid bare and the
future of the great fishing business thrown on
the mercy of the bankers For month the
secret was kept from the public. Then came the
crash.
clerical error came near to invalidating the
Indictment The document. as it was brought
into Judge McEwen's court, gave the initials OF
Mr.. Robbins Wv. j." Judge McEwen 4vas
leaving the courtroom when the mistake was
discovered. The grand jury, which had finished
its work. recaptured before il left the build
ing and resumed its session long enough to cor
rect the error
Bonds were fixed at $4,000 in each case, ard
capiases were Issued formally but were nor
served. The indicted men have informed the
states attorney that they will appear in court
Monday.