New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-07-09
DICKINSON TAKEN ILL
AFTER BOARD INQUIRY
Carnegie Trust Directors Had
Ex-President Before Them
After Scranton Affair.
ASKED ABOUT COMMISSIONS
Also Wanted First Hand 1nfor-
nation About Discountlng
Certificates of Deposit
Knew Banking Game.

the offices of the company a s late as 4;oo
o'clock on the afternoon of May is. the
day he was taken to the hospital, IL was
learned Yesterday. Men who saw MIN
on that day say he apparently was a
we'll man. They could see nothing spe-
cfalIy wrong with him At O'Clock that
night he was taken TO St Lukes HOS
pitaI, and died there on May "a
Mr. Dickinson had been to Scranton.
Penn. a couple of days before TO wit
ness an experiment in industrial chem
istry There was an accident IN the
la boratory where the experiment. took
place. and MI Dickinson was overcome
by the fumes of gas. When ne came
back 10 this city the officers and direc-
tors of the Carnegie Trust Company had
some questions TO ask him about the
conduct of the affairs of that company
under his management
Mr.. Dickinson had been a vice-presi-
dent of the Colonial Trust Company
number 0 years before and had been
also an examiner for the State Banking
Department He was said to have been
one of the best examiners the depart
ment ever had. His knowledge OF the
banking law was surprisingly minute
There was no twist or turn by which a
trust company or bank could evade his
searching examination AS one official
expressed it Yesterday: He knew too
much. 1t was uncanny. If he had not
known so much he would have been bet
ter off. Or If he had practised law and
gone after the crooks he would have
been still better OFF,
Left Colonial Trust Suddenly.
When he got into the Colonial Trust
Company he lasted only a short time.
and then got out with great sudden
ness. i'll health being assigned as the
eason- 1t was understood that the sale
of his stock in the company netted him
|. tidy profit The closest estimate on
the amount he made by that deal Is
$500 600. vet it is said that a careful
search has revealed no assets in his
estate so far
After his connection with the Colonial
Trust Company ended Mr.. Dickinson
spent mis- summers for several years at
the Oriental Hotel. at Manhattan Beach
He was selling bonds at that time. and
lie informed a friend that he cleaned up
from $4,000 TO $4,000 every summer
by his bond operations This business
came TO an end when he promoted the
Carnegie Trust Company The company
was organized in 1907. and in March of
that year Leslie NJ. Shaw. ex-Secretary
of the Treasury. became its president
Mr. Dickinson returned to the presi-
dency in 1908 and remained at the head
of the company until December last.
though he had not been active in its
affairs since the October proceeding.
when he fell from his horse in Central
Park.
II is understood that there had been
dissatisfaction with Mr.. Dickinson's
management of the company's affairs for
some time Several of the directors were
anxious TO have another president, but
Mr.. Dickinson and his friends held the
stock control. and considerable diplo-
The opportunity came with the accident
in Central PARK Mr.. Dickinson ceased
to be the guiding hand. and d couple OF
months later he resigned. and Joseph B.
Reichman moved up from No. 20 Broad
way and established himself in Mr.. Dick
inson's offices in the Carnegie Trust
Company.
Easy to Get Loans
There were number of men, II Is
said, who could go TO Mr.. Dickinson at
any time and get a loan of $1,000 or
$4,000 from the Carnegie Trust Com
pany. 1t is understood that the source
of the influence of these men became
the levers used TO induce Mr.. Dickinson
TO give up his office
The question of other operations then
came up for a thorough investigation.
and on the afternoon of the day that
Mr.. Dickinson was taken to ST. Luke's
the directors asked for some first hand
informant ton 1t is understood that the
explanation OF the discounting of various
certificates of deposit OF the Carnegie
Trust Company was very unsatisfac-
tory.
II is reported. also. that Mr. Dickn-
son was unable TO explain satisfactorily
various loans made through promoters
of a questionable character-men known
in the variance of Wall Street detec-
tives as "aIl around schemers- IL ID
said that il was the size of the commits
sions paid on these loans that attracted
particular attention, and Mr.. Dickinson
was asked To tell who got the commits
sions and why
II was three hours after the session IN
which Mr. Dickinson was put on the
Garnet for these various matters that he
was taken to ST. Luke's Hospital
Statement from, Attorneys.
Moses H Grossman. one of the counsel
for the Carnegie Trust Company, was
asked about these things yesterday Mr..
Grossmap denied that Mr. Dickinson had
ever been connected with any transac-
tons in Carnegie Trust Company certin-
Gates of deposit. and said he had never
divided a commission on a loan made by
the company. When the question OF the
security on loans made by Mr.. Dickinson
for the company came up Mr.. Grossman
said.
.Out of loans exceeding SS.uO.OoO
made by Mr. Dickinson We have col
lected all but about $1,000 This ex-