New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-23
n ABOUT CHECK K|T|NG
.,,,tiOn in Reichmann Case
rites Seven Instances.
|,,ruERN BANK LOAN UP
,.h;r Is Not Likely to Tes-
: ~ and Hyde's Name Is
., Not Even Mentioned.

.,,on If Joseph b. Reichnann,
.r..ident Of the Carnegie Trust
p" usdsd yesterday through the
,r.,deration Of seven more alleged
.,.,~ operations to the more ex-
go having to do with the North
10, The day ended with Will
n.usr a director and secretary of
De committee OF the Northern
n the stand.
.ssiled examination OF Mr. Brewer
e ". - 70 the Northern Banks loan OF
: fs' The Carnegie Trust Company
S'~ .,ssred pretty sood indication
49, = Robin would not he called
- ,- N the Reichmann case. The
81 charles H. Hyde. former city
r ii, who IS accused of having
|''s .sa Northern's city deposits in con-
- - This loan. was not mentioned
80. .o,,r,room. And Robin was only
:. ss one Of those present az the
- he Northern Banks executive
q, which the loan was decided
II. Grower had Identified the min
,,is meeting signed by him. John
- Clark Assistant District Attorney
- -, INTO the record. The meeting
: - an August % in the TimesaBuild-
- vas attended by Clancy Reilins'
y. st,mpf. Robin and Youngs These
-. ,aesed a resolution in favor or
-. ,lgo 600 20 the Carnegie Trust
70 he secured by two notes OF
IS Marcus. president Of the Public
I. ala bv tho Carnegie Trust Company.
y Y.-cp. notes we're for $4,000 and
IA A. Se13. 600 in all. and were them
=. ..-ur,d rs stock Of tho Public Bank
I bonds and mortgages valued at
Sg0o >
: cv bonds from the vaults Of the
'...rn Bank and conveyed them first to
r,-ere TrUs; Company where
coz n the executive committee of that
- attended by William J. Cummins.
psrehr,ann. Iiston L. Lewis and c. \.
:. r.. voted acceptance OF the loan.
,ns,srsl demand note was made out for
amount and handed 70 Mr. Brewer
~ By Mr.. Reichmann.
s.,ssn c Baldwin. counsel for the de-
..,,t conceded the truth Of all THIS as
A that q the rounda bout way IN
- ne Carnegie Trust Company OBJ
- rs cash. He objected. however. 10
-.at part of the testimony Of the wit
!. which had 10 do with meetings and
.,.-sstions in which his client did not
,s,-f Justice Davis overruled him.
4 prover went on 10 say that. follow
~ acceptance Of the loan by the trust
-s,v he took the bonds 10 the Mer-
sr Exchange National Bank. through
- Institution they were sold for S1S2,-
"a, the Carnegie Trust Company's &C
r., 20 A. r Leach & Co. bond brokers.
, proceeds we're deposited in the Mer-
MS Exchange National Bank 70 the
III Of the Northern Bank. The North
Bank then drew a check on the Mer-
MS for the amount Of its loan to the
n4gie company and presented II 70 the
chants Bank. which thereupon drew
1wr check for the amount and presented
I, the Carnecie Trust Company.
his in detail is the transaction which
,srei later in the report OF the trust
,sny 20 the state Banking Department
q by AIR. Reichmann. as parucipa-
-'h the Northern Bank in a note
asse. As FOR the check kiting opera
so called. Nh Clark guided the jury
sy step through a series OF operations
Z. only with the failure Of the bank.
3. Stsnchfeld. OF counsel for Mr..
1na7n. objected 10 the evidence on the
I'd that II involved the trust company's
while Joseph T. Howell. Mr. Reich
Ms successor. was president. II was
8sred by many. however, point for
Science that the same transactions,
n 3!r. Reichmann is accused n con-
TX in his report to the State Banking
.T;ment. should have continued undeE
ssrsnt regime