New-York tribune., 1911-02-23
ajNM|NS GOT BIG LOANS
n.ss Carnegie Trust Over
'ssi 100000, Says Mr.. Cheney.
s,ues ANOTHER RECEIVER
:, Tennessee Packing and Live
stock co.-Three Bankruptcy
petitioners Dummies"

ALE Tenn. Feb. 2c.-That W. i.
Ns former director Of tbe Carnegie
c-n'',,an conpany. OF New York, manipulated
w. 7'..-.sts in Nashville in order to OBJ
y - 80 loans from the Manhattan in
~ -, is one Of the charges made in
si-.l ian with the Involuntary assign
'ea' A. the Tennessee Packing ana Live
90 ronpany. Of which Cummins was
s~ - The extent Of Mr.. Cummins's
a examinations was not specifically
w.. cut in the hearing over the re-
F,r,.sip Of the packing company. The
..,. vas made. among others, during the
,.,.ssiInss'
- of the things brough. out at the
=, was contained in q paper fled by
.x-.,,tenSent Cheney of the New York
sss-..,,nent OF Banks. in which he declares
,Arse petitioners who threw the Nash
=. ,opcern into bankruptcy. !. V. Casey,
Rossell and J. J. Tierney, OF New
- are not such creditors as. under
l,x. have a right 10 file or institute
,..s,rptcy proceedings" He charges also
+. .s.ct that they are merely dummies,
:, the notes were transferred 70 them
sAcur consideration, that they are merely
i~ts IN the Office OF the Mercantile Ma
,a.l Bank. OF New York and calls for
rsf 70 the contrary.
lsdsbtsdness to Carnegie Trust
" Cheney also charges that by virtue
as having charge OF the assets Of the
,-ssie Trust Company, y. :. Cummins
.asted directly and Indirectly TO him
y-rhsre between $4,000 and il,ooeooo
ssding the receivership OF Mr.. Hawk
/ - the Superintendent charges that he
nj brought 20 Nashville ~ and through
= influence Of W J. CumrIins and placed
asrgs OF the Tennessee Packing and
sss Yards Company. and that he par
,,.larly represents the interests Of the
arass who have managed and controlled
4, vroperty and brought II 70 disaster.
I Indebtedness About 100000.
The superintendent further states that
virtue OF his possession Of the assets
4 the Carnegie Trust Company the gen
raj Indebtedness due 10 him from the
-vners Of the stock Of these subsidiary
srporations and those in charge of the
Management and control Of these various
ornorations is about 100000.
The superintendent states that he holds
debt against the Tennessee Packing and
stock Yards Company. evidenced by un-
ecured notes, in the sum Of s15l,o00, with
interest. also a debt against the Cassetty
Nj Company. also evidenced by unsecured
iotes in the sum of s3a0l0. also a debt
.sainst the Enterprise soap Works for
z 90, evidenced by unsecured notes: also
T. indebtedness against the Nashville
Jrion Stock Yards Company, evidenced by
msecured notes in the sum OF $4,000.
The superintendent states that he also
.sds the note Of Hardy Anderson for 500
q 70 which is attached as collateral $50
saares OF preferred stock Of the Tennessee
Psc,irg and Stock Yards Company; also
p. note Of Paul Eldridge for Sl9 90, TO
witch is attached as collateral one hun
Isi shares OF the common stock OF the
Tennessee Packing and Stock Yards Com
Iauy.
An Additional Receiver.
The saperintendent states that he not
saly represents the corporation as a whole.
ert be also stands as a representative of
Ialoss and numerous creditors. who be-
eins creditors Of The Carnegie Trust Com
AZ l. various ways. az denositors and
s.srgise he contends that 10 is his duty
3 ;st that any concern in which he has
interest as a creditor, or as a stock
A'ds'' by virtue OF his position shall be
T-azisd to the best interests not only of
stockholders. but particui iarIy 10 the
rHliors whom he represents.
C. Slaughter. Of Nashville. has been
'insd as additional receiver with Mr..
'Esirson The answer is signed by
ssae 4 Sea-. for the New York Super
|fraent Of Banking. and by \. ". Hud-
tanner I'M charge of thc New York
aa hf'sug Department.