New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-10-24
May Be Asked to Tell Of 81. 100.-
600 Loan to Aid Trust CON-
pany Bearing His Name.
SUIT FOR S14O.Oo0 REVEALED
Defence Shows Henry Phipps
Brought Action for Money
Which Defendant Is Now
Accused of Stealing.

Celtic's gangplank last Friday evening
fresh from skibo, one Of the first Of his
fellow citizens 70 welcome his return. IT
was learned YESTERDAY. was a subpoena
server with notice TO appear as a wit
ness in the Cummins trial, now proceed
ing before Justice Vernon NJ Davis and
a Jury in the Supreme Court The DIS
trict Attorney will probably call Mr..
| Carnegie either Friday or next Monday
Mr.. Carnegie. aside from knowing
William J. Cummns, the defendant
through financial dealings with him, Is
the holder OF paper put mp by Mr.. Cum
Minis and his friends as collateral for
Mr.. Carnegies loan Of s21o0.0o0 a year
ago last January. lie may he asked to
tell about this loan. II was indirectly to
strengthen this paper largely securities
in his own concerns, that Cummins used
/ the $4,000 which he is accused Of steal
ing from the Nineteenth Ward Bank and
/ the Carnegie Trust Company.
Henry Phipus. former president Of the
| Carnegie Steel Company and one of
! "Carnegies boys" is by a strange coin
cidence suing the receiver Of the car
! Inegie Trust Company for this very
$4,000 Max 4. Steuer, counsel for
| Cummins brought out this point for the
first time yesterday in his cross-exam-
ination Of Bradley Martin. ir. son-in-
| law of AR Phpps and former president
/ Of tho N-iDataaDfI, Ward Rank
When the Carnegie Trust Company
/ collapsed last January and threatened TO
/ involve in its tumble the Madison. for
merv the Van Norden Trust Company.
and the Nineteenth and Twelfth Ward
banks. Henry Phipps, TO safeguard the
| depositors Of the Nineteenth Ward Bank.
/ of which his son-in-lav was president.
bought for $500 600 loans negotiated with
/ the Nineteenth Ward Bank by Cummins
and his friends 10 the face value of
| S600.6oS Among these We're the loan of
| $4,000 10 Charles Arthur Moore. tr.. and
! that of SO 1000 20 the Merchants and
Manufacturers Securities Company. the
proceeds NJ which Cummms misappro-
pristed. IT is charged.
Says Trust Agreement Existed.
u is the contention Of the prosecution
that a trust agreement existed between
Bradley Martin. jr.. and Cummins by
rhi,t Tho ,,o,a,, ob,,ined from these
.,,.o l,s.rs sl,o,,t5 no hold =, trilet bv the
ra-neqie Trust comranv for the pur-
chase of certain loans secured by stock
NJ the Nineteenth and Twelfth Ward
hanks q, the s,,biec+ of the Phipps
e,,it Mr. Steue~ asked the witness:
.,fr Martin vor l,row that the nc
..., or fay,,re of this suit depends IN
,o,r ccrtortio, that a trust agreement
evistedo,,
..vog cir"
80 ,.o,, ,r, a,,viore ar- yo, NOT
ti,at ba win the suit9"
W .i-o
xo+ satisead nv t-e cornartion with
.,.a .,.f. - -l,o ,sr,.s If Andra,y Carno-
-. MI NJ ctorar ,-,.d
-. go. -. -, ,,ri-,- a., a,.i,, tho
,tor,,, I'm, rustica
Do,.is hloci<ed his attennts in this direc-
80. .l,iac,ir,, - tla evcI,,sio, of
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anu ''7 ,.-,.... 49,. I......t..-
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-, In- r., qo,, .troot
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.,...,o-s. ",bora v,ora committees +,
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Nj 80. -. -. -,
a,.,-a,,o-,.. ,,ore r,,a4a f,r n
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u. ~ ,,,,,,r,,i,e n any time N rho
- -, ,,i,b DAWSON
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