New-York tribune., 1911-03-19
ICitv Chamberlain, Sad To Be Worried by
Appearance Of Robin Before Grand Jury
in Carnegie Trust Affair."
WHITMAN REFUSES TO CALL HIM
William l. Cummins and Joseph B. Reichmann Former
Officials Of Company, Also Fail to Get District
Attorneys Permission to Testify, which
Carries Immunity.

Charles n. Hyde. the city Cnamper-
lain. has offered to tell the Distrlct Az
torney or grand jury. preferably tne
grand Jury, all he knows about the
activities of the Carnegie Trust group
and to explain how it was that banks
obtaining city deposits almost IN
variably lent money to members of TINS
group.
The request that Mr.. Hyde be allowed
to tel, his story was made To District
Attorney Whitman through stephen Z.
Baldwin. counsel for the city Cham-
berlain. the same man who delivered 10
the District Attorney the unsealed letter
from Governor Dix requesting co-opera-
ton with Attorney General Carmody'
Mr.. Whitman turned the oner do"h'
All this was learned yesterday from
AN absolutely trustworthy source, but
the District Attorney. when asked
about 1t. declined to discus; IT, one way
or another. 1t Is understood that ne
saw no reason whatever why he should
grant Mr.. Hyde's appeal to be hearu'
although willing at all times TO receive
any ncw light he could on the sltua'ioh'
The law grants to witness app' ariiS
Voluntarily before the grand jury per-
scnal immunity from the Consequences
of his testimony.
Mr.. HYDE. his friends know, is III WIN
worry over the whole affair. He Is par
ticularlv concerned over what ROBIN ma!
Lave told the grand jury. calling the IN
dict.d president of the Northern Bank
crazy and incompetent, it Is SAID anu
asking why sane men should take any
stock in his alleged revelations. 10 his
mind. Joseph c. Robin. called insane py
oxncrt witnesses. but adjudged sane by
sury before Judge Swami in General oeS-
s,ons. Is an uncertain factor working III
tho dark. He would like, therefore. 10 90
his own talking TO the grand jury u
counteract. II necessary, Robins state
ments.
Others Wish to Testify.
Mr. HYDE is not alone in this desire
poth William j. Cummlns. chairman oil
the board of directors of the Carnegie
Trust Company and its virtual head al
the time the smash came. and Joseph d.
Relchmann. its former president. also
have requested the privilege OF uhposo''i-
ING themselves to the grand jury. But
they. too. have met with the Dis'ric' Az
,orney's refusal The disappointment Is
keen. particularly in the case ot Johh d.
Stanchfeld. wno. continuing 10 be Couh-
sci for Cummins. has announced III no
uncertain tones that he will not permit
his client to be made the goat
Assistant District Attorney Clark mas
been examining the books or the CITY
Chambcriain's office, with Mr.. Hyde
consent. While he was engaged IN thls
occupation Yesterday Joseph q. ROBIN
was taken from the Tombs To the DIS
trict Attorney office. where during most
Of the afternoon he was closeted with Dr.
Louise Robinovitch, his sister. ana sam
ueI ]. Goldsmith. his lawyer. IL Is un-
dsrstood that Robin was debating 10
Miss Eckhardt. his secretary. state
nent of his knowledge of the ahairs oi
the Carnegie Trust Company. Mr. Cod
smith said nc was engaged with details
Of the District Attorneys investigation.
Mother Mr. Clark nor Mr.. Whitman was
present at any time, however.
Good News for Oeoositors
Rut while this is of intense interest 10
those who are not anxious that Robln
testimony receive serious consideration.
= much larger portion of the community
ie directly concerned with the cheering
ncvs that the Assets Realization Com
many will probPbly assume the liabilities
., the Cummins directors To the depos-
i,or. or the Carnegie Trust Company.
Shortly after the failure of the trust
compapv an investigation was started
Inv those directors of the company not
identified with Cummins and his group.
The state Banking Department asked
these directors to appoint an attorney
,o conrer with Il concerning the assets.
aud they designated Liston l.. Lewis.
,ro ~ their numbet Experts were inn
mcdiately put to work and thorough
examination of the assets was iiaue' III
ch,dinp "A critical insp. ction of the SO
called Cummins properties. such as the
Tennessee Packing AMI Stockyaids Com
many and the Platt Iron Works. Last
week these experts submitted "A report
vh,ch Is considered distinctly encouraS-
ing.
This report. with the consent oi the
NJ. YtH
shown To a syndicate of bankers. and II
was learned yesterday that these bank
ers would Immediately take steps To
take the trust company out Cf the hands
of the department through the medium
Of the Assets Realization Company. The
offer or application. it is expected. VIII
bc made To the State Banking Depart
mert carly this week. accompanied by
"A guarantee that the derositors of the
trust compan, will he paid I'm full.
I'm ease the Banking Department acts
fayorably on the application a small pay
mcnt will be made to depositors TINS
week. il l. said. followed by Others from
time To time until the liquidation has
bcen accomplished and all derositors sat
ishcd
Citv Would Derive Benefit.
Th. city. Of course. will come I'm for its
share of the benefit to be derived from
this ARA rge ment II put through. Its
500 NOO deposit remaining on the COM
pany's books at the time Of the failure
will be raid ick in the same ratio as
the deposit of any private individual
Robin wants to be Let alone to pursue