New-York tribune., 1911-04-21

Jurors within the rail and each IN Turn
stood forth while Clerk Brophy read 'ne
indictments.
When the seven indictments charging
Cummins with grand larceny through al
legged check kiting operations fao peen
specifed. Mr.. Baldwin entered a plea OF
not guilty for his client.
Not guilty as to the olsht iho'ot-
ments?' asked the clerk.
Yes" oravled Baldwin. II don't care
how many there are. Are there eish'
indictments against this enc man.
NO. only five"
Well il makes no difference TO me-.
District Attorney Whitman then an
nounced that the bail of Sooooo al
ready furnished by Cummins would SUI
fee. and he was equally willing that
the $4,000 bond given by Reichmann
should cover the four indictments
egains. him TO which he also pleaded
not guilty.
Cunmins is now under ten indictments
charging grand larceny, while Reich-
mann has four against him. one charg-
ing a misdemeanor and the others grand
larceny. The following explanations OF
the indictments were given:
The seven new indictments against
William j. Cummins each charge grand
larceny in the first degree. The various
larcenies charged represent transactions
by which money was withdrawn from
the Carnegie Trust Company on various
accounts known as "Cummins ac-
counts" when the accounts in the trust
company were not good for the amounts
raid out.
Instead Of appearing on the books of
the Carnegie Trust Company as over
drafts, which. owing to the internal con-
Cition of The trust company at that time,
would have been impracticable, and IN
stead Of being covered by loans made 10
the accounts Of the various individuals,
which, for the same reasons, would also
have been impra ctcable. the fact that
cash Of the Carnegie Trust Company was
being used for the benefit Of William }:
Cummins and his concerns was concealed
by depositing to the credit of the ac-
counts against which the checks so pre-
sented were paid other checks on other
Cummins accounts. which checks were
apparently made good by drafts on out
of-town points.
II is claimed that these drafts on out
of-town POINTS constituted merely color
a bic transactions and were not actually
iona hde credits. and the drafts never
left the Offices Of the Carnegie Trust
Company. When the drafts had been
noIninally outstanding for some days
they in turn would be taken up by cred
its created by other similar drafts
This series Of transactions continued
week after week. and gradually the
amount involved increased IN size until
st the time Of the closing Of the Car
negie Trust Company il is believed that
over 100000 of similar fictitious items
were being carried on the books Of the
company.
The specific larcenies which are charged
are Of the following sums. January 4,
1911. S3,O12 so: December 81. 1910 SIS
600; November IS. 1910, $4,000: Novem-
. bsr 16. 1910 S5113 "A; November Is,
1910 S1o,205: December II. 1910. S17,-
500 and December Il. 1910. SAT
Four indictments were fled against
Joseph 3. Reichmann this afternoon.
Three OF them charge grand larceny in
the first degree OF the sums Of $40 900
Sl20y0Oo and $4,000. this being the $685.
coo transaction on which indictments
against William J. Cumnins were filed
some weeks ago.
Reichmann is charged with having
aided and abetted in the carrying out Of
the larceny.
The additional indictment against
Reichmann is merely a superseding in
Gictment on the charge on which he was
originally indicted: namely. that Of MAX
ing a false report as 70 the condition Of
the trust COMPANY The new indictment
IS filed in order to include several addi-
1ional specifications which g more careful
and complete investigation Of the affairs
re the trust company has brought to
light.
TIE grand jury subppnas we're served
on Curnins and Reichmann as they and
Their counsel entered Cumn1inss auto
mobile preparatory TO leaving the Crini-
nal Courts atmosphere. Mr.. Baldwin
was asked II his clients would appear
before the grand jury, and he replied;
How can prevent it7''
Each was served with eight subpnnaes
calling for his presence az o'clock in
the afternoon every day this week and
next.
rrenderasst's Testimony Resumed.
The grand jury, having disposed Of
Cumnlins and Reichmsnn. filed back TO
their room ard resumed hearing the tes-
timony OF Controller Prendergast, who.
IN all, occupied the witness chair for
two hours. The Controller told a friend
later that he had begun with the cir
cumstances leading 70 the deposit Of city