The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-05-11
HVINZE PICTURED IN WHITE
As 4 BLaUELESS NAV UNDER
4 ~ iDOWH Charge.

Great mans. pages NJ prospsc'usss
and MANY photographs 81 mines ani
ore mills were shoWn 10 tho jury a.
the HeinSe trial yesterday a. Part Of
Heinze's defence IN tho charge Of over.
certifying ana misapplyng tho funds Of
the Mercantile Dank on October u. 1907.
These exhibits somc OF them large enough
when spreai out IN cover up tho jury.
we're offered n upset the Governments
contention that Heinze's United Copper
Company after n sold IL producing
properties 20 the Amalgamatcd was a
mere shell. though It had a capitaH-
aAtion Of S5OUOO 90 and was ostensibly
paying dividends.
Witnesses for He.nyN and employees Of
he testified ~ 10 any number of assets
which they oontendod the Government
had overlooked in making up its tables
showiAg the condition of the United Cop
per Company. They told OF mines with
milliona Of dollars worth Of ore IN sight
snd mills that we're about ready to work.
ths mines hadn't paid any dividends in
1901. when the United was formed, nor
have they since but the Heinze Witnesses
painted their prospects in pretty glowing
eolors and led the jury through tunnels
end crossCuts- On the maps while heinas
watched with evident interest
In HE opening Tor the defence John |
E. Tomlinson Described Heinga a. stand /,
mg before the har -cloth@d IN the white 7
robes Of HE innocence. which was differ T.
Snt from the picture drawn of him by .
Ne Government. Mr.. romlinson de- .
ecribed tho charge Sgains, Hsinye a.
most -shadowy.' Not single stock
holder oi the United Copper Company
had come forward in the case 70 complain
OF the way the United Copper Company
had been managed. he asserted
They say that this company paid divi-
oends out Of capital. said Mr. Tomlin-
con. That was not the case bat sup
pose Il we're. Paint the cas- IN the worst
colors YOU can, A mining corporation
has 10 pay diyidends out 81 capital There
no other way. There Is just 30 much
ore IN the mine, and every time YOU take
some OUT YOU take out capital
United Copper would be wealthy
corporation and Heirzs rich man.
declared his lawyer. hut for the con ,
9nual indiCting e hir in the lsst few
fears. Heinze. h sid. vas admired by 4
many for tho men who opposed him
There are men ready n follow him /,
Or his very enemies. This mans millions /
wcre not made by speculation IN STOCKS. q
they were dug out o. the ground. ~
vent West without e. cent ~ capital and
NJ dug $1,000 IN out u the ground !
We sold hts properties Tor SO. 10000 20 q
the most selfish group II capitalists m
America. Eeior' selling Them he took
E.O0O.Oo OFT oi tham Md the buyers
thsn capitalized them for So 40. 0OO. !
Then he TUNED around rrd started 70 II
d. the same thing over AGAIN u
In regard % tho intimRtion that loan q
IN United Copper ~ collateral was i'm &
proper. Mr.. Tomln-on sr.r thpt The true II
figures the defence would show would
display the company "a Is true hight :,
Heinze had g. il0.VO worth ~ stock q
In the Mercantile Would such man o
have sought TO rob the bank asked Mr. G
Tomlinson. Heinz. IN the contrary. .
hea ssert"d he'd put his whole fortune
behind tho hank and had put M for the 4
80 600 losn s.. 900 M worth Of securities
N which there was enough stock outside 4
Of United Copper 90 pcy the de0t
Harvey Brand . clerk ~ the hank.
Was the first Witnessed called He 81 {
rhitted that he he'd written tho NOO O0O -,
credit appearing on the passbook Of Otto G
aeinze A Co, though u DID not appear e
u that time on the other hooks ~ the d
liank Brand coul1nt remember where h.
h got the item q write int, the passbook N
md couldn't md % IN any IT ne hanks u
books when Mr. Wise showed them To NJ
him. Va
The first witness called n give the g.,
deinzs picture ~ the United Copper Com N
uany was Stanley Oxford. the treasurer 10
n the COMPANY ara a ciassmate u Heinze
" the Columbia school 81 Mines He Is p
lsinDss age. q. but he looked ten Years Oh
younger than Heinze whose hair Is gray h
Is was from Ginord that the defence al
brought out these asset, still belonging -
% the United. most Of them not appear 10
q & on the books Of the Company obtained ae
ly the Government One half interest IN 70
rs 900 acres Og British Columbia mining Gu
ands being Joint interest with tanadah cl'
Pacific. 80 ~ on n the 80 Opl shares ~
v the stewart Mining Company. whose
hines are ~ the trur q Acne district. an
twO-thlrts interest Iu inuOu acres Of
'oal lands m tho PittshuTg district A y.oup CT
n mining = l. ms near Butte valued by Gif- IRA
ord az Sib 90 1860 acres 81 tlIt ar M
ands al Garrison. Mont. ~ rer cont raj
interest IN iUD acre. II land ln the Rockies a.
,nntainmR gold fe;oslts. the Lexington res
1ines In Montana which hack ir 1871 paii ~
] 900 900 IN dividends and vtich Heinza mr.
as been trying 90 rehabiliate: GlOguJ or
harea NJ the 80 GnO shares u the Ohio 'e
lopper COMPANY. a tvo-thiTfs interest 20
b the Basin Reduction Company whose pa
property is alleged 70 have cost s. J00. On. 81
nd stock control Of the htna Indemnity %
ompany ~
When Clifford was turned over 10 Mr. ter
Wise the latter lOst no time IN getting a. 70
ofne additional facts regarding these 10
ew assets He got Oxford 20 admit TINT I
tewart Mining stock was quoted ON VI
'ctober IA. 1897 ~ 3-Is and that in De- Inn
lmber of that year. With tho mines shut are
Ogn, ts value on tho hooks Of the United urt
~ written up from NJ cents % % a share. -
u vas worth the money" the witness NJ
lid. The interest 10 the PittsburR coal
Inds. he said in answer 10 another utIas- ~H
on. had been bought 10y the corrany
'om brother Arthur and the interest In
~ British Columbia tract from Fritz
einEe the defendant He had never "
- the timber lands a. Garrison and The pan
md IN the Rookie vas twenty miles from IN
railroad ana ant rely updevelopei bv
Next Mr. Wise brought ont thai th. ,,,s
Iwn Of Walksrvile Mont got out an ir- ~