The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-05-11
CLOUDS LIFTING
IN HEINZE CASE
Former Bank President and
Copper Magnate Now Faces
Only One Charge.

NEW YORK, May 1o-F. Augustus
Heinzc, former president of the Mcr-
camille National bank, had only the
events OF one day-October II. 1907
to account for when hls counsel today
took up his defense on the govern
mcnt S charges of oYcrccrtilication of
checks and misappIication of the bank Is
funds,
All the other counts in The HeinZe
indictments have been thrown out from
time to time by the court. The last,
except those covering the happenings
of October Ii. were dismissed by Judge
IIough in the United States circuit
court after the government had failed
10 connect Ilcinze with the operations
of the United Copper pool managed by
his brother s firm, Otto Hcinzc & Co,
in the interest of which the prosecution
alleged Heinze had mlsapplicd the
bank g cash and credit.
The trial has now narrowed down to
The charge that Hcinae overccrtifcd tif-
teen checks of his brothers firm, ag-
grcgating SA64 900 and misapplied tho
funds Of the Mercantile National bank
TO that extent.
Slate Not Yet Chosen.
An effort by the defense to clean the
Sl1Ic IN JlCInLG : case GHlIlt 10 udllGH
early in today IS sessions. Judge Hough
denied a motion that the Jury be di-
rectcd to acquit Heinze on The third
remaining count in the Indictment. the
defense urging that the firm of Otto
Hein2e & Co, was entitled to credit by
virtue of The loan Ueinze had taken out
and signed over TO it at the time the
alleged overcertification took place and
also that there was no evidence to show
that Ueinze directed or authorized the
certihcatlou.
Judge Uough likewise denied mo-
lion that the evidence concerning stock
sales by the United Copper company be
stricken from the record,
Attorney Tomlinson opened the case
for the defense.
Mr. Tomlnsou in his opening address
declared that IIeinze would have been
rich man today and the United Copper
company Il wealthy corporation but for
the Indictments which have hung over
Hcinzc's head. He traced Heinze's ca
rccr in The west.
'.EIe went there without cent of capi-
tai and he dug Slo.oOo.0oo out OF the
did he do with it? Ho gave IL to the
lie went 10 Montana, where
there is no stock exchange gambling. He
is loved by many for the enemies he
follow him because of his enemies
The attorney said he did not believe
the jury proposed TO punish Hei1lze FOR
his Kindness and generosity in loaninG
money to his brothers. who were rated
as men with millions behind them. lie
was not charged with mismanagement
OF the United Copper company, and the
the bank in which he held 81, 100000
worth In stock was ridiculed by the
lawyer
Heinze Not in Deal.
The defense called witnesses 10 offset
the governments testimony concerning
the Decentralization charges and 10 show
that Heinze had no interest In the United
Copper stock transactions of his brothers
firm.
William J. Wellman, banker testi-
fled that lieinze's guarantee of broker
age account OF Otto HeinZc & Co and
Max H. SchulLze, which the government
had introduced, related only TO Amalga-
mated Copper are not to United Copper
The entry of Il $500, ,O00
credit TO Otto Hein2e &; Co., on October
II, the day Of the alleged ovcrcertihca-
tions, was testified to by Harvey Brand,
q Mercantile National bank employee.
Stanley Clifford, treasurer OF the United
Copper company. testified at length TO
the value OF the United Copper assets.
lie adduced figures TO show the COM
pany's holdings OF valuable properties.
Practically the whole day was devoted
10 an inquiry Into the value OF properties
cited as assets of the United Copper COM
pany. On cross examination District At
torney WlSo tried TO make MT. Slnoru
admit properties he referred 10 were not
as valuable as listed in the company's
books. but with Indifferent success,
Mr. Wise conceded the United Copper
stock was worth the book value OF 81, ,l29,-
900. but Heinzc's attorneys said they
would prove 1t was worth more than this
amount.
Albert Frank mining engineer, was
called by the defense. lie told OF exam
ining mining properties held by the
United Copper company and OF their
value Frank WAS on the stand when
ad iournmcnt was taken until tomorrow.