New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-04-16
SHERWOOD FOR THE STATE
Turns Against Persch in Trial
for Copper Stock Theft.
MADE LITTLE BY THE DEAL
Co. Defendant Surprises Prose
cution by Revelation of
Large Commission.

John II. Sherwood SpranC TWO Sulpii-'S
yesterday-one on the defence, when he ap-
pearcd a. a witness Tor tho state in the
trial or Donald L. Porsch. who is indicted
witt hin, on the charge 81 stealing Nleeo
~ fioinze's copper stock. and tho other on
the prosecution. when he testified under
oath that he had drawn A check FOR Slel5 -
20 the order OF Z. ). Field. OF Field a 90.
brokers. - the lstter's commission for the
use % $4,000 for less than ten days.
According TO SherNood's testimony. Mr.
Field gave him a check FOR 5000 lie
cashed the check. took the money ID TO
the windsor NTrust Company. and with II
took up soinze's loan OF $4,000 ard sot
a,ossessio, OF the copper stock which had
lpcen deposited as collateral security Sher-
wood sworo that after this stock had been
sold he himself received approximately
$4,000. OF which amount he retained about
1900 as his own commission and turned
puer the rest 10 Mr.. Field.
II was understood that this account o.
the division Of the $4,000 came as com
plcte surprise 10 the District Attorney
office. as from the confessions previously
saade the prosecution was said to have
sbeen told that Mr.. Field let Sherwood have
she Ss5.eoo Cor a nominal fee 81 $50 and
simply as favor 10 The young man, 10
enable him 20 put through transaction
a
had been supposed that the whole sum
went to Sherwood.
Shock for The Defence.
When Hr. Not;. the Assistant District
Attorney, called Sherwood TO the stand
yesterday. and the fact that he had turned
states evidence rs Clark had done before
him. became apparent. the defence seemed
10 be taken completely 10y surprise and for
D. while nouplussed-
When John r. Mcintyre. counsel for
persch. took I'D tho work Of cross-eXami-
tlation. he showed no mercy. and between
she hanlmerinE he got on that side and Mr..
MOTIFS persistence in getting At the root OF
t,ertain matters. Sherwood. who is only
kwenty-two years old. had = decidedly try
ing DAY. Before ne left Tire stand he had
sost the calm and Self-assurance which
snsrked his attitude carrier i'm the day.
Il was said that no actual promise Of
tmmunitv had been given TO induce him 10
sum states evidence.
Sherwood. on direct examination by Mr..
cSott said that T.. J. Field gave him
check 70 carry out the transaction and
that Field told him 10 so 10 the Seahosrd
National Bank 20 cash n. He took the
money. he said, and went 20 Mr.. Birming-
ham. then in charge Of the bond depart
,ueut OF tho Windsor Trust Company. and
zot the Heinze stock 1850 shares Of Ohio
.ropper and Z "a shares Of Davis DAILY Con
per. This stock, he testified. he took 70
aho Office Of L. J. Field g. Co. Of No -
broadway. showed il to Mr.. Field and then
put n I'm the safe Persch. Sherwood said.
promised him 10 per cent commission for
putting the deal through. and on August
2 1872 gave him orders 10 sell the stock.
After the sale. the witness testified. the
80 his credit i'm the Sea board National Bank
and drew two checks Of $1,000 each 10 the
order or Field 4 co. JEe said that So, OF
worth ~ stock was sold, and that Persch
received $50 40 5S Then Mr.. Mcintyre took
I'D the cross-eNamination.
IN answer 90 question. Sherwood said
~ was told IN Clark's Office that I-hlman
10 make the loan. 7 cashed 7. J.
Field check for sJo.@ss before going 10 the
Windsor Trust for the stock TO keep from
disclosing the name Of my employer
Reported Sale 10 Mr.. Field
15e sV-ore that he had reported the sale
az The stock 20 NIr. field and had dc
c'osited the proceeds tberofron in the sea
board National Bank At the latter's sug
xestion- Il told Field about the whole
transaction as clark put IL TO me- Sher-
wood said. ''and he agreed 10 clear it"
Sherwood said that ne showed the order
TcrSch gave him for the stock 10 Mr. Field
1Ie denied any knowledge that The order
was antedated, but admitted that he kne-,
sire stock was not in the Windsor Tr7ls,
company when lie received Pe7sch's orde,
30 get H. Il understood that the stool
vas 20 be there that day" he explained
Tho order for The stock was dated July 30
whereas & was not left n the Windsor
1'r7cst until August .
Mr. Mott took up ;he redirect examina-
tOn by asking II Chlman had an accour-
with Field & Co. The witness said no.
Mr. Mcintyre asked why Sherwood. know
ans that the money for the stock fad beer
s1vsnced by Field. and that Persch had n,
TIDE 20 e hac nevertheless given tho order
a. sell &.
Because thought Persch had the RICH;
80 have il sold" was the reply. Bat when
Mr. Mott pressed him hard along the same
limo he finally admitted that the primary
object OF the sale was TO repay Field" and
-hat he knew the stock really belonged =
Joyce or Heinze.
Did you not say 20 some one tha. Won
thought Persch was used as a catspayy IN
me Transaction" asked McInfyrr TEL
a. who YOU thought used him as such"
y may have said that TO some one" re
Jliod Sherwood Il think Clark. Field and
possibly Katz used him as tool"
The witness testified that the Davis Da ~
stock was sold al between and 3 and
The Ohio AZ from 81 TO :. lie also fes,;-
ned that II had been suggested that ,ba
stock could be sold and then repurcllasas
letter on before tho ;ime or the loan OK
pIred at lesser prices