New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-04-07
INSURANCE INQUIRY
TAKES WIDE SWING
ProbeT AIightS on Ex-ASSembIy-.
man Louis BedeIT's
Stock Deals.
BROKER PUT ON THE STAND
Allds's Name Also in Firms
Books-New Lead Ascribed
to Tip from Counsel
of Conger.

oA insurance looh n Wlue swing IN ms
inquiry yesterday when he subppnaed
James w Cunningham, partner in the
Ellingwood & Cunningham Stock Ex-
change firm. which failed on February
u. 1904.
Mr.. Hotchkiss had in his possession
about fifty sheets from the ledger of that
firm. and though Cunningham at first
refused. on advice Of counsel, to identify
them. Mr.. Hotchkiss outwitted him
moment later and secured a virtual
identification.
one account. the only one of which the
name appears on the record OF the inves-
tigation. was in the name of Louis
Bedell, and that account showed various
sums. aggregating about 5000. on the
credit side. by checks or cash of g.
Tracy Rogers
Rogers was from 1898 to 1904 the
president OF the State Street Railway
Association. according to the testimony
Of LemueI f. QuigS under examination
10y William NJ. Ivins in the records of
the Public Service Commission. and was
the representative of that association in
traction legislation at Albany for that
period. He was also, as Cunningham
testified yesterday. special partner"
in the Ellingwood & Cunningham firm
from 1898 to January ], 1904. but had
retired before the failure.
The names in these records said
Mr Hotchkiss, are the names of some
Of the members of the Insurance and
Rules committees Of the Legislature Of
that time"
Deals Were in 1900 and 1901.
The time Of the records. as shown by
the testimony on Bedells account, ran
through 1900 and 1901. with some lines
left blank Of names dated up to as late
as August 2S. 1902
Stock of the New York Transportation
Company was the only stock mentioned
in the record Of BedeITs account.
The records Of the Legislature for 1900
show in the Assembly on the Rules Com
n1ittee Aids. Kelsey. BedeH Barnes and
Kelly. with the Speaker, Fred Nixon, as
chairman. and on the Insurance Com
rnittee Coughtry. Tripp, Graham, Apgar,
Hatch. Cotton. Knipp, Mcmillan, West,
Roche. Guider Gale and Rierdon.
In the Senate the Rules Committee
was composed of Senators Ellsworth,
Raines and Grady. and the Insurance
Committee comprised Senators Parsons.
Raines. NaIby. Johnson. Thornton. Am
bier. Ahearn. Graney and Donnelly.
Cunningham's testimony yesterday was
given slowly and with numerous re
fusals TO answer whenever the questions
touched upon the names in the records
from the ledger. which Mr.. Hotchkiss
had subppnaed earlier in the week.
The witness appeared with John n
Stanchheld as counsel. ana when called
10 the stand he waited until his counsel
had put on the record his formal objec-
tior 30 any disclosure Of the accounts.
Lawyer Makes a Fight.
= have advised NJ. Cunningham
said Ar Stanchfeld. that you have no
power TO subpoena records Of that firm
or its accounts with customers.
u presume this may be followed by a
legal proceeding. and though not waiv-
ing his right not To be sworn and not 70
testify. l will allow him. for convenience
sake. to be sworn. but will advise him
that he need no. answer any question
as to customers accounts, because of
their confidential nature"
At the end Of the session. when Mr.
Hotchkss announced adjournment until
this morning at IL o'clock, Mr. Stanch-
field again took up the night.
Il will advise Mr.. Cunningham shat he
need not appear here unless you go to
court for an order" he said to Mr.
Hotchkiss.
Il direct YOU to be here at II o'clock"
said the Superintendent then to the wit
ness. ignoring Mr. Stanchfields objec-
ton.
Three O'Clock would be better Tor
me-" said Cunningham.
Very well. II you will be here at 3
O'Clock we will adjourn until then" an
rounced Mr.. Hotchkiss.
Mr.. Stanchfeld announced that he took
the position Of advising his client that
as a broker he need not consent to this
publicity Of his customers accounts. but
finally on Cunningham's practical agree
ment that he would resume the stand
the next session aaE set for Monday
morning az II O'Clock. -hough the wit
ness auaiifed on that 10 the extent that
"ba would be or hand 81 his counsel did
not stop him"
Counsel Invited 70 Testify.
Cunningham wss apparently al a loss
. know just what ground 20 occupy.
During the course OF the inquiry the
Surorintendent had requested Mr..
stsuchiie!d to take the stand and be
.vorn. but this honor Cunningham's
counsel declined.
is Mr. Stanchfield your regular law
ycr2" he shot at Cunningham
No" admitted Cunningham.
Ever employ him before?'
NO"
lis Mr. Stanchhcld not the counsel Of
q. Tracy Rogers" pursued Mr.. Hotch-
kiss
Not that ! know Of" replied the wit
nesE.
Rogers it appeared. Mr.. Hoichkiss had
made every possible effort to reach with
a subpoena. but Rogers is man of
varied interests scattered in several dif-
r,r.vt I.aaI.fIaa Mr CnDufupba,,,s.