The evening world., 1912-11-23
WHAT STATE HOPED TO SHOW
AGAINST HYDE.

I'VE propose" said Assistant District
Attorney Clarke. explaining. Ito show
that Cummins told this witness that IL
the National Reserve Bank made this
loan 10 the Carnegie Trust Company he
tCummins) would SEQ that his friend.
city Chamberlain Hyde. would make
the National Reserve Bank a city de-
pository. We propose to show that the
National Reserve Bank, acting on this
promise OF Cumm.ns. did make the loan
TO the Carnegie Trust. and that just as
soon as the loan was made Hyde did
designate the National Reserve Bank as
city depository, just as his friend
Cummins had promised. We propose TO
show that there were several similar
transactions. and that whenever the
Carnegie Trust desired to borrow money
1t could always do so by promising 20
make city depository of the bank
from which IL borrowed the money
In this way. Your Honor, we propose
to show that the funds Of the City OF
New York were always at the command
OF Rehcimann and Cummins, and that
Hyde was always ready to go to their
rescue with New York's money. deposit.
Ing this money In bank which had
already promised to lend 1t to the Car
negie Trust Company. and Reichmann
and Cummins."
/ John b. Stanchneld. opposing the
question. declared there was no proof
that Cummins made these representa-
tons on the KIN owledge OF Hyde. Justice
Con- permitted the question to be an
swered.
WHAT cUMMlNs PROMISED IN
IN NAME OF HYDE.
When Mr. Cummins applied for the
loan for the Trust Company and for
himself Mr.. Jones. the witness, said.
he told me " we let him have 500 90
on five notes OF $4,000 each, he was
thinking of sending to us large accounts
from other banks throughout the coun-
try. lie said: I think. too. can In
1uence for you a large account from
the city,. told him we already had a
deposit OF $4,000 from the city, but that
we wanted more"
Q. Was the city's deposit In
creased immediately after you
| loaned cummins this 500. ooof
a. I do not recall. I can LOOK In
| my books ana see. Ny recollso-
| ton II that the city's deposit was
not Immediately increased.
The State offered in evidence a city
| warrant to show that after the Ma.
tional Reserve Bank made tho 800. 00f
loan to the Carnegie Trust Compa ny
| the city's deposit In the National Re-
serve Bank was increased by s150,000
The paper was temporarily barred By
Justice Con-.
on cross-exa minatlon by Mr.. Steuor
Mr.. Jones admitted that never. at any
time, had he had any conversation OF
communication with Mr.. Hyde. and
that Mr.. Hyde himself had never prom.
!sed him a larger city deposit In re-
turn for the 100000 loan to the Car.
| negie Trust Company.
| loan haCallCe
you thought 1t was safe? a. or course
I thought the loan was safe. but was
| perhaps, influenced by the representa-
lions OF Cummins that We would yo'
valuable business as result OF max
ing II.
| O. (By Mr.. Clarke) We're you IN
fuenced In part by the hope OF get
ting a larger city depositY A. was
GOT MORE DEPOSITS. But
DIDN'T SEE HYDE.
william f. Holloway. formerly presi
dent of the Hungarian Bank
O. In May, 1910. did Mr.. Cummins ap
ply TO you for n loan? A. Yes severa
OF the Officers of the Carnegie Trus
Company applied to us for loan o
SlOs.0
O. Was anything said about a city de
posit ~ you made the loan? A. Yes.
q. Who made the application for thu
loan? A. Mr.. Jones OF the National Re
serve Bank. for the officers OF the Car
negie Trust Company.
Q. Immediately after the loan wa
made to the Carnegie Trust Company
did you receive city deposit3 A
Yes; my bank received deposit o
SIC. 900 OF the city's money Immediately
On oross-examlnation. Holloway al
mitted that he had never had an,
communication with Hyde. nor recelveI