New-York tribune., 1911-03-14
Jury HEARS BANKERS
Continued from f1rst pnse.

tract 70 be made on the expiration OF th'
contract with the Germifood company
That option he took TO the fertilizer com
pany. receiving for ii 1900 shares oi th'
preferred stock of that company anc
800 shares Of the common stock. Th'
fertilizer company paid the Lewisohn'
100000 for the option.
The option was allowed to expire. anc
the contract was afterward made By th'
International Agricultural Corporal tion'
company orga nized under the laws OF th'
state If New York i'm June. 1909. VIII
an authorized capital stock of sl2.eo"'oVt
preferred stock and s12,000.000 common
stock Waldemar Schmidtmann became
the president OF tha. company and l. l
Meadows vice president Besides tax
ing the sulphuric acid contract with INT
! Lew!sohns, the International Agrlcui'uia
/ Corporation took over the German potash
mines of Schmdtmann and three potash
mines in this country, all OF when une
independont Fertilizer Company had ex-
pec;ed To have in its combination. Bu'
the officers Of the International company
have said that there was never any con-
nectlon between II and the fertillze'
| company, and that il never owned any
Of the stock of the fertilizer company
The international company was financed
bv J. p. Morgan & Co.. and It's hscai
agent is the Bankers Trust Company
| known as Il Morgan institution.
| In March, 1909, three months aiter the
end Of the activities of the independent
Fertilizer Company in that phase. {. l.
Dickinson. who was then president Of
the Carnegie Trust Company. brought 10
a head his negotiations with Warner
Van Norden for the purchase OF the van
Nordon Trust Company and the Nine
teenth and Twelfth Ward banks. hut he
did not know where to get the money 10
nav for the stock Then the corpse OF
the Fertilizer company was galvaniZed'
| on March - 1909. Dickinson went 10
r. c. Meadows and +. NJ. Anderson, of
the independent Fertilizer Company ana
got from each of them a note for S"'"'-
O0O.. He got a note for the same amount
signed by the INDEPENDENT Fert'ilzel
Company, and similar note from one
OF the Southern fertilizer companies that
had peen intending 10 go into the combi-
nation The makers Of the notes were
al told that they were wanted lor Il
couple of days as accommodation ioT an
emergency and would be put in the trust
department OF tho Carnegie Trust Com
pany. where they would remain Tor TWO
DAYS and would then be returned.
AS soon as he got the four notes DICK
inson called In Cummins and the heih-
bers Of the Cummins syndicate ana 'oio
them that &c had the means 20 get the
money for the Van Norden purchase.
The notes were then gu ranteed by VIII
lam J. Cummns, Martin J. Condon'
Charles A. Moore, tr.. William 4. keener'
Iiston L. Lewis, Samuel II. kress,
George c. Crabbs. Joseph 3. Reichmann
and Dickinson, and with the stock OF
the Independent Fertilizer Company az
security. were put in the Carnegie trust
Company. Then the So 100000 that they
represented at their face value was taken
out and peid to Warner Van Norden for
the three banking institutions that he
controlled
pispositior of Bank Stocks.
Clark Williams, VII y was the State Su-
perintendent Of Banking. refused to al
low the consolidation OF the Carnegie
Trust Company with the other banks, for
which purpose the stock control was ac-
ouired The stock Of the three conpa-
MES, all Of which had been purchased
at high price. remained in the hands
Of Dickinson and tie Cumrins syndi-
cate and was all taken over by the Cum
Minis syndicate. when II finally bought
th stock Of G. e. Dickinson in the Car
pegie Trust C0mpan and had full con-
troll Of that institution
Meanwhile the four notes secured by
the stock Of the Independent Fertilizer
Corpany remaintd among the so-called
assets Of the Carnegie Trust Company
and were so carried on the books OF
the company But in November. 1909,
the Southern Fertilizer Company decided
far and asked for the return OF the
note. II demanded the note so ins.stent-
t. that II had TO be returned
George /. DYER vas an advertising
agent at No. ~ Broadway who had
been closely connected with Joseph B.
Reichmann. Reichmann had been presi-
dent Of the National Starch Company
and Dyer had been the advertising agent
for that company Reichmann went 10
Dyer and got him 10 sign note for
the guarantors Of the four orig nal notes
for 5000 900 each then guaranteed Dyer's
pote, and with Cummns's 10000 shares
OF independent Fertilizer stock as Sc
curity il was substituted with the Car
negie Trust Company for the Southern
Fertilizer Company's S600.OOO note.
This note of the Southern company was
returned and is believed now TO be the
only one of the four orig nal notes in
existence.
For on January ?5, 1910 the other
three notes were paid and part Of the
Dyer note was paid II was al that time
that the Columbus and Hooking pool
and report that the Carnegie
Trust Company had tent large amount
of money on The pool stock started Il run.
The Cummins syndicate got to Andrew
and borrowed from him 81 000,-
coo in bonds of the United States Steel
for which they gave him