New-York tribune., 1911-11-16
|DLAMES STATE OFFICERS
Prevented from Saving Carnegie
Trust, w. J. Cummins Says.
TELLS ABOUT STOCK POOL
Put Up S1,OOO,000 for General
Situation" Retaining Only
Clothes-Defence Rests.

William J. Cummins is anxious to let the
jury which is trying him for the larceny OF
$4,000 know that he and his associates
would have saved the Carnegie Trust Com
pany and the general situation IL the
Banking Department had only let them
whatever we had we put up for the
good OF the situation" he said on the stand
yesterday. Everything went out our
clothes"
The injection of this doctrine into the an
swcrs he made to the questions put py
Frank Moss. Assistant District Attorney on
cross-examnation began TO nettle Mr.. MOSS
early in the morning session. He was ask
ing the witness about the liabilities of the
Platt Iron Works, when Cummins re-
marked:
81 know / advanced almost 100000
myself to the iron works"
please don't make speeches" interrupted
Mr.. Moss "If you keep OH talking that
way I will have to ask you where you got
that million. and this trial will never he
finished"
Cummins testified that the stock pool.
which he has said was created for the
benefit Of the general situation,' was
started by the $4,000 lent him and his as
sociates Cummins, Condor and Moore, by
the Nineteenth Ward Bank-thls Is the
money he is charged with stealng-and
with the S195,00O which the Van Norden
Trust Company loaned them. The rest OF
the money used IN the pool, he said, about
! $500 000 was raised on the personal notes
Of the four men in the pool, and the notes
Of the Merchants and Manufacturers Sc
curldes Company, and the Tennessee Pack
ing and Stockyards Company
Did you get any personal benefit from
the money raised with the pool stock az col
lateral?" asked Max D. Steuer. counsel Tor
Cummins, in redirect examination
Not cent" answered Cummins
But you got stock with IT which you
thought some day would be worth $500 a
share, didn't you?" asked Mr.. Moss little
later.
"I certainly had confidence in the stock
or ! wouldn't have got all my friends to
buy IT,"
The witness referred TO Carnegie Trust
stock. He said he had brought the Carne-
gle Trust Company 81 10000 OF cash In the
place Of the Hearn and Langley notes by
selling to his friends the Carnegie Trust
stock held I'm escrow against these notes
He took paper out of his inside pocket
and read long list Of these friends and
how much they had paid on their stock, bu
Mr.. Moss brought out that the Carnegie
Trust Company had lent all these persons
money with which TO buy their stock. soma
of their notes still remaining unpaid.
Lawrence Ottlnger. Juror No. 9. asked the
court IL Mr.. Cummins might be allowed tc
testify whether Mr.. Shoemaker a director
OF the Nineteenth Ward Bank, had been
asked TO act as trustee OF the $4,000 which
started the stock pool. Bradley Martin, jr.
president OF the Nineteenth Ward Bank
and chief witness for the prosecution, had
| testified that Mr.. Shoemaker had beer
asked, but declined to act.
Mr.. Shoemaker was not asked to act ~
trustee OF the money Mr.. Cunmins ex
| plained. Il asked him II he would act as
the representative of us four men who
| borrowed the money, and disburse 1t for us
but he said he couldnt-that he didn't
| have time Then 1 turned 10 Mr.. Nell
vaine, counsel for the Nineteenth Ward
Bank, and asked him II he would under.
| take to handle the money for us saying we
would have a committee appointed to con
! suit with him about II, but he declined
! Then the matter was left TO Mr.. Martin
| and he and j decided on Mike Lyman"
! Cummlns, in answer to a question from
his counsel, said he had informed Bradley
! Martin, jr., almost daily Of what he was
doing with the money.
| After q short examination Of Orion III
Cheney former State Banking Superin
! tendeut, which brought out that A,OoOee
| OF doubtful assets had been taken out OF
| the Carnegie Trust Company during the
! Cummins regime the defence rested.