New-York tribune., 1911-03-21
Anthony Stumpf. Northern d.
rector. Went to Cummlns
in Its Behalf.
BACKING UP ROBINS STORY
Evidence Regarded as Corrobo-
ration of His Revelations
Whitman Mr.. Carnegies
Guest at Luncheon.

Northern Bank had chosen William J.
Cummins. chief spirit in the Carnegie
Trust COMPANY. as his medium for So
letting city deposits At least such is
the we'll established belief Of those who
saw Stumpf enter the grand jury room
and knew what ne had TO tel.
This testimony is regarded as cor
roborstion Of Joseph 9. Robins story
tat ono night late in August. 1910.
Charles II Hyde. City Chamberlain; Jo-
souh p Reichmarn. then president Of the
Carnccie Trust Company. and Cummins
and he had met in Hydes private Wall
street office and had agreed that if Robin
lent the Carnegie Trust syndicate money
and used his influence in getting other
banks 20 do likewise the Northern Bank
and the other banks would benefit by
means Of increased deposits of city
money. Stumpf could not explain clearly
why he should 60 To CumminS to seek
more city money for his bank-why. in
stead. he shouldn't have gone to Mr..
Erdo direct or To- "Bll Jones" or any
one else
~ruupf, call on Cummins took place
about month after the alleged confer
ence in HyGes Office. Between September
l. and a the city deposits in the North
err Bank had Increased from S192.io0 To
S1.o17I. on October IL they had gone
I'D to So. .3G>. on october 80 to S44O.229
and or the 3lst to Si.0.S,37G. the high
water mark.
The belief that this conference. the
alleged agreement and the results TO
fh. Northern Bank. formed the particu-
"a! subject TO which the grand jurors
save their attention Yesterday was
further borne out by the presence be-
fore them as witnesses of William l..
Ilover vice-president of the Northern
Bank. and Charles Noetch. of Clifford.
Hobbs a. Beard. counsel for the bank
besides Stumpf. Mr. Brewer is said to
have testified that the day following
th, HYDE conference the discount board
cl the Northern Bank met. and at
Robins earnest solicitation gave its
consent 10 a loan of S130.0oo to the
Cummins crowd. Robin. he is said to
lave testified. told the discount board
thar if this loan was not made the bank
would lose what city deposits il had
while by bending before the pressure. it
Wound add materially t. its city ac-
count
Brewer was the first witness. il was
learned. and then Voetch attended to
confirm The fact that the loan was made
g. the Caruegie Trust officers. He was
followed oy Stumpf.
Stumpf was not willing TO say. it WAS
learned that the loan was made under
Crress. although decided upon hastily.
Although a former business intimate Of
Robin. he was not anxious by any means
Co. say that he was sent 10 Cummins
month after the loan was made TO find
ot eh~ more city deposits were not
torhconins II is inferred that the
District Attorney extracted this infor-
nation bv asking him point blank
whether hv did not make such visit
With such purpose.
story Told BY Banker
Further corroboration IF a connection
between Cummins and city deposits was
obtained yesterday from d man in the
closest kIud of touch with one of the
sixteen or seventeen banks which carry
10, our city deposits but also loans To
're Cummius syndicate on their booNs
This man described from beginning 10
onl his banks relations with CummnS.
starting with an account Of $500 which
Clmmins o.on-d CON August - 1909, in
ta- r1mo of the Tennessee Packing and
Stochrards Company.
SN months later. il appears. this bank
.eut CGmuius SjpWH requiring no col
lateral Tho custom iu Wall street being
for hanks, to lend q derositor from four
20 Sis time, Che amount of his deposit
in Das a.s financial standing is consid
Ced perfectly sound. When this loan
uaftIed $1,000 of il had been paid. and
IN fea.laIE 1910. the rest was renewed.
Then. ou juno ]. 1910. Cummins obtained
f'om tro iank on four notes. each signed
W himself by Rcichmann and 10y Mar
tn j. Condor and Charles Arthur Moore.
jr. tuo more of his associates. an addi-
tona' ..an Of >50.0OO
Tho egrI'y demanded i'm this instance
Was statement from these four men Of
ne.r financial standing Cummins saying
he uas worth $2.ooOooO. condor that he
vas president Of the American Snuff
'ompan.. owned house in Pelham and
VAS worth about 100000, and Reich
mann 'hat Dc was president of the car
ies.o Trust COMPANY. and so on
on This date. June !. Cummins entered
tac Offices Of the bank and asked how
nuch money in city deposits the bank
had
"Oh. a little, about $4,000" was the
response
Wei ] hink / can tx it for you;
o. you want more Cummins is re-
porttd 10 have said.
fo1 can bet your life We would" was
tho reply
Three days later the bank had 100000
ih city money
'h November :. 1910, this bank made
Io.. g 100000 10 the Merchants and
M7 nuf4cturors Securities Company.
holding company for the Tennessee
Packing and Stockyards Compony and
other Cummns concerns. Il loan which
was guaranteed by the same four men
ah1 secured by stock of the Twelfih
"aId ana Nineteenth ward banks and
Ue cmncsic Trust Company.