Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1911-10-04
EXITING" DEALS
RELATED IN COURT
Remarkable Tale of Fren.
Zied Finance Brought
to Light.

I
case of n. G. Hunter, agains; the
Independent Steel Company OF
America, closed in the Federal
court al four o'clock yesterday, the
verdict favoring the defendant.
AT the conclusion of the hearing
Judge Keller directed the jury to
return a verdict for the defendant
corporation. This verdict was
duly prepared and formally entered.
The case was one of the most re.
markable ever tried before any
tribunal sitting in West Virginia,
and the testimony developed yes
terday the short and simple annals
of story of high finance which,
while not in the j. Rufus Walling.
ford class, exactly, deserves honor
able mention, at least.
The star witness for the defense
was Arthur Hirsch, promoter of
the Independent Steel Company Of
America, whose plant is located at
kenova, the chief witness for the
plaintiff being Mr.. Hunter himself,
TIE man who stood under when the
kite string broke.
The story in brief involves these
particulars:
Mr.. Hunter was, at the time of
first acquaintance with Mr.. Hirsch,
prosperous Pennsy lvanla CON
tractor. Chance decreed one day
that Mr.. Hunter should need little
ready money, and chance also di-
rected his footsteps TO the Offices OF
Weyler Brothers, whisky dealers
and occasional money lenders.
When Mr.. Hunter entered the
offices of Weyler Bros. he asked
for SO, 900 TO tide him over tight
place temporarily. Weyler Bros.
were very sorry. They hadn't a
cent to spare at the time. But
here's our friend, Mr.. Hirsch, who
: building a big steel mill down at
NOVA, w. Va. Perhaps he can
Mr.. Hunter have the money.
Certainly. Mr.. Hirsch would be
delighted 10 accommodate any
friend of Weyler Bros. Here's a
check for 50, 900.
Mr.. Hunter accepted the check
with thanks, and departed Three
/or four days later Mr.. Hunter was
reminded how one good turn de-
serves another by receiving a re.
quest for the temporary use OF Mr..
Hunters check for $1,000. Mr..
Hunter responded and promptly
sent the requested favor. Mr..
Hirsch deposited Mr.. Hunters
check to bis own credit, so when
the check for SO, 900 drawn in favor
Of Mr.. Hunter passed through
clearing house, reached the bank
upon which it was drawn, he had
Mr.. Hunters So, check TO bis
credit, and after paying his own
check bad 50, ,OOC left as a balance.
Mr.. Hunter was then furnished
with Hirscb check Of a SUN great.
or than $50 which he in turn
placed to his credit in the bank
with which be did business, and
when the So, 600 check drawn 1T
favor Of Mr.. Hirsch passed through
clearing house there was balance
at the bank Sufficient 20 pay it, by
reason of the Hirsch check on de
posit in Hunters favor. The frsl
of this series Of exiting" trans
actions ended January !, when the
accounts were cleared. But they
were started again with an almost
furious recklessness, the amounts
running so high that Hunter at on
time had out "kiting' checks to the
extent of 500
The banks handling these vino
evidence of deposit became leary
and sent representative to Hunt
ington and Kenova to investigate
Mr. Hirsch and the steel plant
Mr.. lllrsch was here and the biz
steel plant was here, and ther,
were documentary evidences of or
ders which seemed to guarantee
prosperous operations. So fea
was temporarily allayed. But tn
crash had TO come sooner or later
and on January 10 the last kit
went soaring up never to comt
down, leaving Mr.. Hunter, tn,
man who was drawn into the trans
action because of the fact that h,
needed a temporary loan of 1000
holding the empty string.
Mr.. Hunters attorneys state tha