New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-10-06
Saws Position Is Justified.

The work and time necessary 10 40 ms
have demonstrated the RESPONSIVENESS OF
my original position inasmuch as my tNl-
denCe covers a wide range on ilrilL gu
transactions and long Perloo oa lily. ,ll.LJ,
Bur your proceedings and the research
which I have been able 10 make aLIlll-
those six weeks now enable me- 70 oHeI lily
evidence as 20 the following ma 9
The circumstances OF the reopeAln5 OF
the bank. ,,--. a,-.-.t.,,.,,-.t,
. The retention OF AsAlel' ''u'4'" 0' Sd"
q '' The general conduct Of the bank dur
W ' The circumstances Of and the reasons
for the final closing L.
g. The Sullivan notes. g.. those o. Ila--
gertv MollOy HUlsart and the hensrH
Rond and Mortgage Company, the sullivan
note of $4,000 the Bogart note ana the
banks real estate, especially IN c'1nect2n
with the charge that the repol - 70 the
Bank Department were knowingly Ia4se as
20 said items. 49,.
Joralemon Security Company, the Jerome
Contracting Company. the Ashford COM
ranv the Long Island Securities company
the OnslOw-M Moore Company lle t-SstN a.
Lee Company, the corporate HtaLtE III, llIl
many and the Metropolitan HoldinE Com
pauy. the companies useu 10y llt Jain ''
fore the first closing
= The BriarWOO0 properly.
The Liberty Avenue Theatre property
o The Shetland COMPANY.
10 The Curtiss-Tweutieth Century COM
pauy loans. ~ -
In the case Of many OF THESE matters u
details dates and figures are 10 De asked,
shall have TO request the aid y the DOCKS
and papers Of the bank and OF MI Ashley
while on the stand. -
II YOU wish 20 inquire into other items or
trsnsactiOus ! must stand upon my orlS-
iual position and say that Until you INFORM
me either directly or by further proceed
iugs here. a. 70 what theF are anu ~
zine in
into Inc books and papers OF the nauk. /
mus decline 20 enter upon them IN snort
,,-berey,er YOUR proceedings during the last
civ weeks and nv research have supplied
- inflammation which 7 originally request
ed and which Is necessary am ready now
10 testify. where such Information mas TOY
been so supplied and YOU are NOT no" VIII
Ing 10 supply 10. ] am not and can not De
ready 10 testify.
Mr. Dodge thanked Mr. Grout as he
finished the statement
Il am ready TO take me stand now, M.
Grout declared.
when We are ready % hear Won, Mr.
circuit" Mr. Cropsey retortcd Eve viii
notify you By subpoena
eft is not necessary 10 subpoena me. Mr..
Grout said. because I viii come volun-
ta-i1v. Are YOU not ready nowe"
you did not notify MS that you were
coming to-day" suggested Mr.. Cropsey.
NO. that is true. L did not notify you
i'm advance" said Mr.. Grout, "but u Is so
much easier 10 ask questions than 20 an
swer them that 1 thought you would be
ready
you will be notified, Mr.. circuit Mr..
Cropsey repeated, thus ending tile coAoquy.
viii Be Treated as Others.
Mr. Grout retired from the room as hur-
-iedIv rs hs had come In. He viii be sub
nosuaed again and his examination in no
vav limited 90 the items and transac-
rions designated iu his statement. il was
said Ii may Je his privilege 10 answer
,,,. decline TO answer some OF the questions
asked him. IL was said. but the invesu-
GATORS intend 10 pursue his examination, If
Inc appcars. IN the same manner in which
other witnesses have been examined, and
ask any questions which are deemed peril
mont IN the investigation. lie probably viii
mot be called as a. witness Immediately, as
other matters are expected 20 occupy the
time Of the investigators FOR several days.
n Sidney Williams, VINO rs m Mr. circuit
law Office FREDERICK tlOtWei, formerly IN
charge OF the credit department OF the
Union Bank and r.. j. Grant. u real estate
dealer. VINO was Interested IN several ldrse
transactions with David a. sullivan. the
Indicted president of the old Mechanics
and Traders Bank. which later became the
Union Bank. were the witnesses examined
al Yesterdays hearing
Mr. Williams was questioned regarding
the price paid by the Z Mon Bank for the
stock Of the PEOPLES Fank which 70 pur-
chased u 1896. The witness said he had
amended two meetings OF the stockholders
of the Union Bank when the price was
discussed. and had heard no other figure
mentioned than 1870 a share. Former Of
Hcers and stockholders Of the People.
Rank have testified that 500 was paid FOR
the stock.
a ~