New-York tribune., 1911-11-11
CUMM|NS TEST|F|ES
AS TO S140,OO0LO
Women Robbing Van Norden Of
$4,000 Made Banks CIamor
for Money, He Says.
NEEDED HALF A MILLION
Consulted Bradley Martin, Jr.,
He Says, and Rollins and Will
Jams Almost Daily on Getting
Carnegie's 100000.

He Says, and Rollins ana Will
Jams Almost Daily on Getting
Carnegie's 100000.
William j. Cummins-a little deaf. so
that his counsel had TO yell at him
occupied the witness chair in his own
hehalf sl Of yesterday afternoon ana
into the evening as late as o'clock. CIV
ing his version of the understanding he
had with Bradley Martin. jr.. regarding
the use of the $4,000 he is accused OF
stealing. In effect. he said the Nine
teenth Ward Bank had lent him the
money 10 help clear away all the doubt
ful assets and obligations which clogged
the path 10 a successful merger of the
Carnegie Trust Company with the Van
Norden Trust Company and its allied
banks.
Jordan ]. Rollins. counsel for the State
Panking Department, told him to get the
money uptown, he testified. because the
uptown banks had more money than the
Carnegie Trust Company.
Rollins and Clark Williams Superin-
tendent Of Banks. figured prominently
in the projected bank merger. the details
Il which the witness was allowed TO
give. Williams. he said, consented TO
become president of the merged institu-
ton at a salary of $25,O0O, and asked
that Rollins be appointed counsel at
salary of $4,000.
Cummins identified an elaborate plan
for the merger written out for him by
Clark Williams. and also check for
$4,000 which he had paid Rollins as his
first retainer. Bradley Martin, jr, not
only as president of the Nineteenth
Ward Bank. one Of the institutions which
were to be swallowed up in the greater
whole hut as Cummins's candidate FOR
vice-president of the combina ton, was
also greatly interested in the proposed
merger.
Two Women Rob Van Norden.
These three men the defendant saw
almost daily between January and April,
1910. he testified. and in the mean time
with the $2,O0J,000 which he and his as
sociates had borrowed from Andrew
Carnegie he swept out Of the Carnegie
Trust Company all but about 100000 Of
the fertilizer loans" But there were
still the Catholic loans and the loans
10 directors TO be taken care Of before
the merger could be effected, when War
ner NJ Van Norden was held up one
night near the Waldorf by two women
and robbed Of $4,000.
The banks about town which had lent
the Van Nordens large amounts of
money on stock of the Nineteenth and
Twelfth Ward banks Immediately began
clamoring for payment, and threatened
by dumping the collateral on the mar
ket TO endanger the credit of these two
banks, as well as that of the Van Nor
den Trust Company, which controlled
them, and of the Carnegie Trust Com
pany and its directors. who were heavily
interested in the Van Norden Trust
Company.
On April IS Cummins and Martin
talked the situation over thoroughly.
'I told him." said Cummins. that we
would have to raise money 10 take care
of the situation, and that If we could we
would have no trouble in putting the
merger through. / said my associates
would sign the notes and stand back Of
them II the uptown banks would lend
the money. Rollins, told him, had ad-
Vised me TO get the money this way be-
cause the uptown banks had plenty Of
cash and the Carnegie Trust Company
didn't
Il pointed out that the robbery Of
young Van Norden's money by two
women on the street had made the banks
which held his collateral restless. and
that that situation needed looking after
as well as the loans in the Carnegie
Trust Company objected to by Williams
and the State Banking Department.
"IIe agreed with me, and said he per-
sonany would join in the purchase Of
stock of the Nineteenth and Twelfth
Ward banks He asked me how much
] would need for the general situation,
and l said 100000 to SG00,OO0."
Bradley Martin, Jr.'s Course.
The next day and the day after the
Van Norden Trust Company and the
Nineteenth Ward Bank held directors
meetings. the Van Norden Trust Com
pany voting 70 lend Cummins and his
friends $lg5 900 and the Nineteenth
Ward Bank voting 10 lend them $40
Go Bradley Martin. jr.. as vice-presi-
dent Of the trust company and president
Of the bank. explaining in each instance.
Cummins testified. that certain situa-
tons had arisen which made the loans
Necessary
Joseph y Reichmann. president OF the
Carnegie Trust Company and van
Norden director told the other directors
OF the Van Norden Trust Company. the
witness said. that he thought the efforts
which c. G. Dickinson was making at
the time TO throw Carnegie Trust stock
On the market created a situation even
more urgent than that arising from the
Van Norden loans and Cummins added
Ms word to the effect that Rollins had
advised him TO get the money uptown
and that il was necessary 10 act quick
" II being as much 10 the interest or
he uptown banks az OF the Carnegie
trust Company TO support the credit
fabric in which they were all involved
watkins Crockett, president Of the
van Norden Trust Company at that
ene and brother-in-law Of Cummins.
mas testified that Cummins himself got