New-York tribune., 1910-09-24

$50, 600" and the word his were
underlined, apparently with the same
pen as was used to write the postscript,
which ran:
Ask the colonel for 81, 500
Mr. Bruce asked the witness for an ex-
PLANTATION, and Mr.. Baxter contented
himself with repeated denials that Rog-
ers had ever carried his account in any
way
Just Later Understanding.
There was an understanding later,
said Colonel Baxter. which he made with
J ". Cunningham, whereby the latter
was empowered TO buy and sell on his
account, the idea being that inasmuch
as Cunningham was right on the ground
he might be able to do better for him
than he could do for himself from AL
bany, and he explained when Cunning
ham started on that arrangement the
account then carried a credit of about
s., 200.
The colonel then read into the record
two letters, one to Cunningham and the
other from Edward H. Lauterbach
to himself, the burden Of which was
that when the firm failed Colonel Baxter
was not indebted to it by so much Us
one cent, and that on the contrary the
firm really owed him to the extent Of
about $1,000
He was excused from the stand then,
but was recalled by Judge Bruce when
reporter suggested that the colonel had
not been asked to explain why G. Tracy
Rogers should have been requested to
deposit $4,000 to Baxter's account
There was no reason under heaven"
answered Colonel Baxter, repeating the
phrase used by Congressman Malby ear
lier in the day, why he should put up a
dollar for my account. and I don't be-
Iieve he ever did, or any other man"
James W. Cunningham was called to
the stand then, and the same query put
to him. He was the writer Of a letter
TO Rogers, and he appeared almost anx-
ious to get on the stand and explain the
peculiar letter.
why was G. Tracy Rogers asked by
you to deposit his personal check for
$4,000 for Colonel Baxter's account ?'
asked Judge Bruce.
"His" Should Have Read "Your"
That is apparently a typographical
error" said Mr.. Cunningham quickly.
THAT should have read your account,
meaning G. Tracy Rogers's own ac-
count
But the word his very evidently
referring TO Colonel Baxter, is under
lined" Judge Bruce pointed out.
Yes. but it's simply the wrong word
an error, that's ALL" said Mr.. Cunning
ham. 1T should have been your read
ing We suggest that you send your
personal check for $4,000 for your ac-
count" explained Mr.. Cunningham.
The matter was dropped there.
Judge Bruce and Congressman Malby
had a long and detailed conversation
over the specific items in the Iatter's
account with the Ellingwood & Cum
ningham firm, during the course of
which it was volunteered by the Con-
gressman that a 5000 credit appearing
therein was substantially a . per cent
interest rebate covering his whole ac-
count with him. because of previous
overcharge
He arranged with Mr. Cunningham.
said Congressman Malby. at the opening
Of his account there that he should be
charged a ''commerciaF' rate Of inter
est. and not a rate based on the call
money quotatio in Wall Street
In spite of the arrangement. however
he found that the firm continually over
charged him in respect to interest. some
times running the percentage up as high
as 10 whereas the average commercial
rate for the period covered by his ac-
count was about 4 per cent.
one $500 item appearing on the credit
side OF the Malby account the Con-
gressman explained as being In sub
stance the reduction of interest over
charges to bring them ali down to an
even per cent. and the later item Of
S. 600 and some odd he computed as
the reduction on the entire account,
bringing IL TO an even 4 per cent charge.
Congressman Malby had appeared as
a somewhat heavy operator. Judge
Bruce thought. when he read OFF such
items as 1000 Reading, 800 Wabash
nreferred. 500 Steel. 800 Louisville q