The evening world., 1911-01-07

Republican nomination for President
than with banking affairs.
The real troubles o. the Institution
and IL had many or them OF many
sorts-dated from ia period. Con-
sentative banking interests OF the city
dil rot like the idea o. Dickinson be-
Ing ~ charge OF the company. which
had become q powerful concern IN the
financial district. During Mr.. Dirkln-
sons more or less stormy administra-
ton the company became involved IN
transactions which resulted In a fur
Their desire on the part OF the big
downtown banks 70 eliminate Mr..
Dickinson as an active feature from
the banking community.
Among the angles IN which tie car
neEic Trust Company became involved
during the Dickinson cg!me was the
matter OF tho Fidelity Funding Com
pany, promoted by n man named II. j.
Kicran. This company failed. causing
many Catholic Institutions throughout
the United States considerable loss.
Also there was considerable adverse
criticism for Mr.. Dickinson because OF
certain unsecured loans which he made
60 George T.. sheldon. President % the
Phoenix Insurance Company. h died
under Indictment.
A little later efforts were made by
Dickinson ana some OF his associates to
merge the Van Norden Trust Company,
the Nineteenth Ward Bank n the
Twelfth Ward Bank with the Carnegie
Trust. II was the idea Of Dickinson to
form a chain OF banks in the city with
tho Carnegie Trust a. the parent insti-
tuition. So sure was he that he would
bs able to carry through the undertake
ing that "a syndicate of Carnegie Trust
directors secured control OF the majority
OF the stock of the Van Norden Trust
Company. u was said that the syndi-
cate also had about completed the pur-
chase Of the banks.
state Prevented Big Merger.
At the eleventh hour the ctate
Banking Department stepped in and
put a quletus on the scheme. 1t was
stated at the tine that the plan
had failed to go through because OF
the fact that IL would be impossible
TO merge two State banks like the
Twelfth Ward n the Nineteenth
Ward with concerns holding trus'
company charters.
The aggressive. rather hippodromic
methods adopted by Dickinson in Sc
curing business for the trust company
continued as a subject for discussion
IN the fina n district. About "A year
ago, after an examination OF the gf-
fairs Of the company by the state
Banking superintendent. a re~organiZa-
tion was effected. Mr.. Dickinson re-
tired as president, Joseph u. Reich
man succeeding him. Mr.. Rsdchman,
who was young and very wealthy. hal
been a director OF the company and
was largely interested In Standard OF
affairs, being n director also of tn,
Corn Products Refining Company.
II was admitted a. the time that tbs
selection Of Reichman was only EN-.
porary and that he would only hold of
fee until another president n beer
chosen. With Mr.. Reichman in charge
the reforms that had been demanded
by the state Banking Department wer,
started. \. great deal of questionabi,
paper was eliminated by him..
Nevertheless the Trust Company con
tinued to figure IN the prints In con
noction with greater or less fnancia
sensations and scandals. 1t played a
incidental part in the story OF tn
theft Of a big block OF copper stool
that had been pledged with tho Wind
sor Trust Company by NJ. NJ. Joyce
al associate Of v. Augustus Heinze
"a confidential messenger. whose nam
was never revealed, stole s2o,000 OF. tn
funds OF the company and ran away
/, Many thousands Of dollars were lOane
by Dickinson on the bonds of n pape
railroad that was. owned by Chliles i
Weliborn. a broker with u crlminl
. record, This. however, lid not CON.
s out until comparatively recently,
! Sued Former Directors.
. George \. Lee. IN sulng the member
OF the firm OF Henry g, Brown a. Co
and Francis Hamilton for $4,000 a
. legged that the defendants, two Of whoi
had been directors % tho CarnegI
, Trust. defrauded him ou OF $4,000 h
inducing him 10 buy stock of the con
pany under tho representation that
was about to effect a nixon with n
Lincoln Trust Company.
Ellsworth Chiids. head OF the strlr
OF Childs's restaurants, sued the Ca
"A negie Trust Company for slco,U0 dan
ages. because tho lawyers FOR thu
Is company got him confounded with q
T.. Childs, who IL said to have a
seconded with certain funds. and a
tached Mr.. Ellsworth Child's n a
!. count. Finally. last May, came q
a strange death OF Mr.. Dickinson.
n During last summer Il was repeate
" stated that the Carnegie Trust Cor
~ pany had been thoroughly hou
q; cleaned. Then came the announceme
70 thai Southern Interests had become |
a. terested IN the management. The
=. rcctornte vas ~reOrganizcd, young NJ
q. Reitchman resigned and TO succeed hi
~ tho dicrctors elected Joseph =. Howe
n i esldcnt % tho Fourth National Ral
To ~ Nashville Tenn