The sun. [volume] (New York [N.Y.]) 1833-1916, 1911-03-20
TRUST co. INQUIRY TO SPREAD
IiGi>Jtft RI WAY M ASKED
IO INVESTIGATE.
vhitmrn Th,nks Tie Has lncartEcd Drnk
Conditions which should Bc Looked
into Robin TO Testify Again IndIct.
mcnts IN the Case Expected soon.

before tho Grand Jury to testify about
the Carnegie Trust Company and the
facility displayed by the Cummins crowd
when IN deep weters in getting life line
th.oun from somebody outside have re-
celved an intimation that the scope of the
present inquiry may be so broadened ne
10 he a matter for a legislative commits
sion
Robin of ihe Northern Benk, backed up
hy other Witnesses. has told the Grand
u-ine bank and trust company money TO
make profit for a few stockholders End
about tlrs that got around to 2 number
of such institutions day or ,wo before
examiners arrived from the State Banking
. Department that District Attorney Whit
man is believed to have under considere-
ton some plan for putting these matters
W 70 Attorney General Ca7mody in order
that they might he transmitted to the
Legislature
There is pretty definite notion that the
District Attorney will seek to put up to the
Legislature matters that have cropped
out in the Carnegie investi cation but
concerning which no evidence. or direct
evidence a. any rate. Of criminality has
been produced before him as yet
Some Of Robins most interesting state
mens ha' . had to do with the prosperity
zf ST
10 take advantage of depositors' money
10 make a bg profit for their own crowd
not for all the stockholders. Paying
TOR cent. interest on such cash as city
deposits, thcre cliqucs. according &c Robin.
nave been abe TO lend The cash out for
ioper cent y pcr cont, 20 per cent. even
50 per cent, depending on call money
rates Stockholders who lacked enough
Influence 10 Sc in;o the pool or who were
kept in ignorance for reasons of discro-
lion got nothing from these profitable
ransacticns. save of course he usual
dividend
Robin and othcrs ha;e e told good deal
about all this. and more statements of
The same kind are expected from witne sse,
who will bc cal'eI in the course Of this
week and ncyt wcck. For tho pre- sent
the District Attorno is concerned chiefly
with the rc,ation OF city deposit, TO loans
secured by the Carnegie Trust Compen-.
"hic he is pursuing that phase Of the
ln"cstiGation The Grand Jury has SUI
pended temporarily lbs inquiry into opera
lions of Carno ic ofiicia'o who may hal @
nisused the 1905 OF that concern
\ temporary suspension of what has
tovorne a minor phase Of t,c whole in
ves'ig7lon came about when indie, men,s
oi ccrtaIn Carnc lie Trus, Company OIL
cials We're dc'idrd on II was 90 erinincd
10 indict some principal figures in the
Carnegie Trust Company before Robin
appeared TO tc.tify in the Grond Jury
room. Con rary 10 the impression that
prev allied rather widely before Robin was
taken before the iurymen. his evidence
was ~an'ed on other matters than the
ability Of he Cummins syndicate 10 keep
their pc, industrials going.
These indictments are TO be withheld
FOR the present in order 10 give Others n
chance TO step forward and toll what
they fnoW. u is considered necessary TO
i"i some talk but there are still Others |
presumably with most accurate knOwl- !
edge Of what went on inside and out OF
the Carnegie Trust Company. whom the
District Attorney doesn't care rap TO
see In obtaining corroboraton sor |
Robins statements the District Attorney
has apparently excluded certain in /,
dvlduals from the possibility Of immunity
while others, less criticised by their asso- /
ciates, are expected to step up to the |
'rimlnal Courts Building nd make clean !
breast
Joseph G. Robin will appear before the |
Grand Jury again this afternoon TO cor
'nue his story as to how the Carnegie !
rust Company. the Northern Bank and |
oher banks and trust companies got city |
deposits following the midnight confer
ehce late last summer in which City
'hamh"riein Hyde, William J. Cummins,
JoSeph ID. Reichnann and Robin took
par Robin will be the principal. pos
sibiy N" only, witness before the Grand
Jury this afternoon.
Following what il now considered by
me "rend Jury as the most import ant
0he o' inquiry, the District Attorney is
aNer stock lists Of the industrial concerns
mwhlch Banker Cummins was interested.
ne wants 10 know who were dummy
s'ockhoders on these lists and who they
were masking. He has been informed
HAt some men whose names are down "a
stockholders We're standing up merely
'or 'oihs who didn't want their names
Used
Room gets through in time there
VIII appear before the Grand Jury to-
morrow or tuesday seventeen discount
cerks, men who work or have work ed
'of sixteen or seventeen banks and trust
companies that have accommodated the
ummins syndicate after getting city
deposits The supposition is that the
u'ahd Jury wants to establish further
'ac's IN connection with the loans OBJ
.'meo by the 'ummins syndicate from
''sse banks and trust companies
mere was further confirmation yester-
uay NAT former friends are no longer 7
"a'ch'hg together At one stage Of the
proceedings before the District Attorney
so' really under way Stephen &. Baldwin
~" hrooklyn, counsel for Mayor Gsynor
a,'' ,'y Ohamherlain Hyde represented
r-' ummns and his friend Reichmann
o"" H. '''dnchfeld il said to have been
''a''"4 'ummins and Frank S. Black
dHl"hl for Relchmann
''. haii" IN denied last night that the
ss"'''"n A. 10 City Chamberlain HYDE
"'pr'f'H- before the District Attorney