New-York tribune., 1911-02-01

banking department. said Robin. 'If
YOU viii allow me will tell you few
things The FIRST examination OF the
bank after we purchased it took place
early in 1907, and NJ. ". Hutchins the
chief examiner Of the New York State
Banking Department came in 20 ex-
anime the bank He found number Of
loans. amounting 10 perhap. Sl50oo0, on
q pledge Of the Fidelity Development
Compsnys stock. This was corpora
tion in which ] was largely interested
as well as my bank"
Are YOU now interested in TT" asked
District Attorney Whitman.
That depends upon how much Of my
stock James Clifford has stolen replied
Robin. 81 had about S500,000 invested
in that stock Well, Mr.. Hutchins. the
chief examiner, came in--an unusual
thing for the chief examiner 70 come into
very small bank 20 examine. However,
he came in and said: Now. here, Robin.
how about this Fidelity Development
stuff? What is it worth?' said: We'll,
Il cost me about SIS, and 1t IS worth
about par
Describes the Hutohins Transaction.
"aIy answer to the chief examiner
was. VI is worth about Slo0.' His an
swer was, I don't think so. don't think
st is worth e dollar. tried to sell some
end couldn't get any bid for it asked
~ = lo hcl H.
! have forty-six shares of preferred and
G bonus OF common. / asked him what
he paid for IL He said, 81 600 said,
1t cost only 5000 two months ago.
and he said, Well if you pay me $4,000,
that will be $1,000 profit think your
stock is good
i said. Suppose don't and he said.
Then il isn't worth @ cent I gave
him the $4,000, and here is the check"
Then ths check. signed by Joseeh G.
Robin. made payable 70 II. w. Hutchins
for $4,000. drawn on the Bank OF Dis
count. Endorsed by ". w. Huchins and
marked Paid" by the Trust Company
81 America. was shown
THIS check was purely and simply q
81 600 trihe. required by Hutchins to
pass TIE bank through. That is the
way the banking department works its
Investigations 'Other tirass they usu-
ely require cash. Usually they don't
ellow themselves 10 go on record.
This idea, gentlemen. Of the banking
examiner walking into this institution
having a few weeks before purchased
come stock OF the institution that he
knows he is going TO examine, and then
saving 20 me, This cost me 5000. n
~ea pay me $4,000 the bank Is good. II
you don't pay me 1900 the bank I. not
good That is the way the examination
OF che banks are made in this city by
tha Earking Department, and there Sc
rne evidence Of II"
Then Robin went on &c say that the
Hutchins trensaction would throw light
on the closing Of the Union Bank "
Brooklyn, talked OF David 4. Sullivan as
having forced him to guarantee loan
OF $4,000 in which he had no interest.
sad described what nc called a fight with
,arge corporate interests. These inter
ests. he said caused the closing Of the
Northern Bank because they wanted 10
get rid of him. not because il was insoi-
vent.
Robin said men prominent in the hnan-
cial world had been In = conspiracy 90
wreck his enterprises and ruin him per
Fcnally. lie said hc had tried 20 fight
vhst he called tho Traction Trust" and
that II had beaten him, the lnvestiga-
ton OF his south Shore Traction Com
pany being cited rs a part Of the hGht
against him.
III reply % tie District Attorneys
question abeut voice which Robin
earlier ip-thA day had said spoke 10 him
and guided him, he ssid il was the way
God had Of communicating with him.
But he refused 70 ga into details. de-
clsring II would be sscr!leeioUs TO do so.
A. the court. tbs jury. ths District At
,orn.y. and sven his Own counsel could
net understand him.
Finally hA threw up hts hands end
said What's ths use Of talking? rs
waste OF time"
At the noon rscsss ha told Judge
swann that II he took cognizance Of all
ne had 70 say another would b9 IN his
place as defan6apt
II. w TIutchms said last night that
he purchased the stock IN The Fidelity
Development COMPANY at the suggestion
Of Frederick .. Kllburr. formerly State
saperintsndent OF Banks. tr&t when he
wanted 70 sell Il later Mr. kllburn said
he would cell it for him; that few days
sfterward Robin came 70 Ais Clutch
ins's) Office. said he would dispose Of
wa stack and did 80.