New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-11-07
JURORS SEE STOCK POOL
Cummlns'S Secretary TestifleS
Martin Knew About Deal.
HE GAVE HIM THE DETAILS
Case of Banker Charged with
Stealing $4,000 Goes Over
-Reichmann a Witness.

The jurors who will pass on the inno-
cence or guilt OF William J. CuIrmlns. ac-
cused of having stolen $4,000 from the
Nineteenth Ward Bank and the Carnegie
Trust Company are thinking over to-day
some rather startling testimony brought
out by the defence just before Justice
Davis adjourned court yesterday afternoon
over Election Day. Michael J. Lyman,
Cumminss confidential man, occupied tho
witness chair lie produced from n port
folio a much worn manila envelope Of
heroic size on the outside of which he had
written. more than a year and a half ago.
the words stock Pool" and under them
the names of NJ. J. Condor. J. b. Reich
mann. {. 4. Moore, jr., and W. J. Cum
Minis
on April 81. 1910 Lyman saw Bradley
Martin. IT.. closeted with Cummins In
Cummins's private Office at the Carnegie
Trust Company. This Is the day the notes
were negotiated with the Van Norden
Trust Company and the Nineteenth Ward
Bank. the proceeds of which Cummins Is
charged with having misappropriated. and
Mr. Martin, who was then president or the
Nineteenth Ward Bank, is the witness on
whom the prosecution depends to prove It's
contention that tho money was used for
wrongful purposes Cummins called Lyman
into the room, the witness declared, and
in the hearing of Martin said
Mike. Mr.. Reichmann, Mr.. Condor. Mr..
Moore and myself have formed pool 10
buy stock of the Nineteenth Ward Bank,
the Twelfth Ward Bank and the Carnegie
Trust Company. You will have charge Of
the stock purchased. and at any time that
Mr. Martin wants TO know the progress Of
the pool you will give him all the informa-
ton he desires
1t was then that Mr.. Lyman procured
the envelope and labelled it. Into 1t, he
said, went all the stock released by Mr.
Cunmins with the money obtained from
the Nineteenth Ward Bank and the Van
Norden Trust Company. and into It also
went statement Of expenditures in de-
tail. and receipts.
At Cummins's request this statement,
showing the expenditure of sos, 7S5 IS. to-
gether with the amounts of the different
stocks acquired and the loans paid. was
produced on May ?, 1910. according to the
witness, for Bradley Martins benefit, Cum
Minis and Martin being again closeted at
the Carnegie Trust Company.
The statement, which was put in evil
dence, named a loan of the Veta Colorado
Mining and Smelter Company as one or
those paid off. and it gave also all the
loans to directors in the Carnegie Trust
Company which were retired with the
money. Mr. Martin was made acquainted
in this way. Mr. Lyman testified, with just
what was being done with the money he
nf having CtO1an
Whether Mr.. Martin protested against
such a use of the money or against the
enplovnent of Lyman instead OF the Car
negie Safe Deposit Company as trustee"
of the pool. was not brought out. for court
adjourned at this point. Max ID. Steuer.
Cummins's counsel, could not suppress a
grin over the dramatic effect, while the
nistrict Attorneys staff resisted with diff
Guilty the temptation TO say to all and
sundry. Wait till We get at him
Joseph T. Reichmann, the convicted for.
mer president OF the Carnegie Trust Com
pany, occupied the witness chair during
the entire morning session and we'll into
the afternoon. Frank Moss. Assistant Dis
trict Attorney elected from him under
cross-examinat!on the information that OF
the s1,500,0oO which the Plat Iron Works
had borrowed on It's own paper It had re-
ceived only about 100000 the rest being
distributed among other cummlns COM
panies. He named specifically the Tennes-
see Packing and Stockyards Company.
do you, as president OF the Carnegie
Trust Company, the Plat Iron Works and
the Merchants and Manufacturers Securi-
ties Company, mean 10 say that all these
ID out OF a general fund.-"
81 certainly do-as the Merchants and
Manufacturers Securities Company"
did Mr.. Cummius tell you he checked
part OF the $4,000 20 the Veta Colorado
Mining and Smelter Company"
No"
But you would have considered such a
proceeding all right