New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-03-30
sHAMMERl|NC BEFORE
GRAND Jury AGAIN
Saws Cummlns Persuaded Him
to Buy 100 Shares Carnegie
Trust Stock at us.
NEW INDICTMENT RuM0R
district Attorney Now Probing
into the Connections Of
Former Banking Depart
mont Man

8. 49, e-ard iu,v invssttga'.or % the
-.roeeie Trust failure procseds snG more
>.-Lars ana bank directors are examined,
ere connections man formerlY IN the
s.e.A Rankirg Department had with OFF,
.isls n. .h,s ard other financial institutions
rs.or,es more involved The Queston ~
A.se dep.rtroen,s rasponsibihtY for fhe
,o,s,.,or ~ -he trus' company is consid-
.-.5 &, ,hA Criminal Courts building as
,r,no-.a-t Question 70 settle rs that ~
.hs connection between loans - william !
re,oc-,tns ard his associates ard city de-
ros,ts II all TIE testimony f scores %
BANKERS uho will appear before the grand
,r-y T. IS expected that material Will be
@o,ra .o- -he indictment OF this man
YESTERDAY. however. the evidence was a.
~-ost entirely IN confederation ot what Jo-
eeph c. Robin and others have sa!d-that
he easiest way for bank 20 get city
money was 70 accommodate Mr.. Cumnlins
and hts friends Louis y Har1re-ling
I ures!6ea. OF the American Association Of
& roretrn Nev.pape-s and formerly 2 direc-
.o~ 0. TIRE Savoy Trust Company. was
3 asain witness His testimony was fur
-he- borne out by that OF Arthur Baur
secretary and treasurer % the Savoy Trust
Company.
These I've r,er. . IS SAID began soliciting
city deposits for their concern from CITY
Chamberlain Hyde soon after Mr. Hyde
became Chamberlain, N January 1910. They
kept II up snd in March obtained three
city deposits Of s2500o each. the story goes.
Eu, So. 90 seemed 70 he The limit, and try
as they would they said they couldn't
r-v arv mare loose from the City Cham
terls.n.
Hydes Request Frcr, Harrcerline.
Yeste-day morning statement from Mr.
yyyds was published containing a letter
@rona Hammerlirg soliciting further city
6suos!t 81 $4,000 The letter dated June
{ said that Mr. Hammerling was 70 de-
rsrt for Europe The following day. Mr.
rlvde wsn- on 20 remark that Ear1rerl!ng
canea on him again early IN September
e-d obtained the deposit he sought. Ham
-e-!irg. howecer said yesterday that he
"a No. see the City Chamberlain between
rs departure tor Europe and the follow
'ng Novenbe-. In the mean time. the Sa-
10y Trust cornpary had GOT the extra city
MONEY and 81 Iris Tav, according - the
--i.r.ss
70 begin nth Han1nerling lived IN the
Republican Club. ard there he met and be-
came more ~ less intimately acquainted
7'ith Lister 7 Lewis. 4 director % The
carnegie Trust Company and g warm
+-,e-6 Of Cun,rrins Lewis introduced him
- Currnins, and Curnrlins persuaded him
- buy 100 shares OF Carnegie Trust stock
81 1-5 Eanmerl,ng expected 70 - rhe
riches- man IN Anaerics
From Cunnnl,ns the new Carnegie Trust
.tockhol6e~ learned that city money flowed
= 70 those who creased the path OF Hy6es
friend cummins Currirs Impressed him
IS Millionaire, he being IN tr1pressiona bic
Austrian. and as h. was interested in
Curnnlins company. q. we'll IS the Savoy
trust Company he arranged for meeting
between Baur and Cunr1irs
Beur ard Hammerlins and Curlnlins net
IN the HOLLAND House where Cumrins
lives m August q and were Cumrinss
guests 2. dinrAr. There and +hen the bar
gain Vas struck Cumn1ins was 70 get 2
loan and the SAVOY Trust vas ~ get
further citv derosit
nerosit $4,000. Losr $4,000
On September the application for more
c'rv r1orev vas made: on september the
-yusr coropanv received z neV CITY deposit
% 5000 and on September it lent Cum
minis s5Joa The trust company paid PEI
cent On IT'S ciry deposit and Cummins paid
s-r@r cent on his loan
Emanuel Gern. president 81 the SAVOY
trust Cornpany. vas on the board Of thA
8roadvav Trust Company with lir Hyde
before the latter became City Chamberlain
Nr HYDE said in his statement that he
knew him 70 be banker with sound meth
ods The citv money IN the institution, az
p~esent amounting 70 $4,000. IS secured By
6 bond. and the bank has the reputation Of
conducting strictly business banking ana
r., engaging N any Wall Street transac-
tt~n. Us place ~ BUSINESS IS ~ 10. 5@
Fvosdvsy
II was learned Yesterday that before