New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-23
Convicted Tanker Is Par
doned by Glynn with
Aid of Whitman.
ILL AND POOR, HE
GOT JOB IN WEST
Former Carnegie Trust Company
Head Has Debt of S11.101,72S
Confronting Him.

JOSEPH 3. Reichmann. convicted banker.
one time president % the failed Carnegie
Trust Company and adJudged bankrupt.
has received n pardon from Governor
Glynn. and although partly raralyzed IS
living obscure'y in the West trying 70 win
back part OF MS vanished fortune.
Word Of the pardon reached The Trib
une last night after Governor Gynn had
admitted having issued It about a fort
night ago. The paper was granted on the
recommendation OF Supreme Court Justice
Vernon r. Davis. before whom Reichmann
was convicted. and with the concurrence
OF District Attorney Whitman.
Nothing was to be gained" said the
District Attorney last night. by holding
Reichmann any longer The chief thing
was the conviction OF Cummins and his
associates. and Reichmann. although AT
one time president OF the bank. was really
only a catspaw. His offence was a techni-
cal one. and il would have killed him to
make him serve out his sentence.
The man who succeeded I'm borrowing
g. 100 10 from Andrew Carnegie and who
sacrificed all his own assets IN the effort
10 stave of ruin from the bankrupt trust
company was never In the state peniten-
tiary 70 which he was sentenced. His oc-
cupancy IN the Tombs prison after he was
convicted. I'm the summer OF 1911. was
short one. and he was released a few
months later on 4 certificate OF reasonable
doubt. The appeal OF his case has never
been argued.
Now. broken in health Reichmann is
living in somehow in the Middle West.
Where this IS could not be learned. as his
retirement from public notice was care
fully done All that would be said by his
former associates is that he has a very
good position"
lie is on the long road coming back
and the suggestion Of "A very good posi-
ton" to him seven years ago would have
been considered insulting. Even after the
collapse Of the trust COMPANY and after
he had been declared a bankrupt and was
out Of the Tombs on appeal. he stu nai
the nucleus OF a small fortune lett
This was his share OF the Plat Iron
Works, OF Dayton. Ohio. Of which he vas
president. But the foods OF two years
ago wiped out that rainy-day investment,
and only last month he was released from
BANKRUPTCY with assets of slp and haoih-
ties Of sll.lol.72S facing him.
II was a case Of bad COMPANY" ar
cording 70 the District Attorney. which
was responsible for the troubles in which
Eeichmaun found himself when ne came
10 this city full Of confidence after his
successes I'm Nashville. Tenn There he
had been connected with large enterprises.
and his association with William J. Cum
Minis. also a Southern nnancier. seemed
to assure him that his management OF tho
Carnegie Trust Company would place him
IN the front rank Of the big bankers whom
he met Among his business associates
he numbered such men as Z. T. Bedford
president Of the Corn Products Refining
Company and 2 former director Of the
Standard Osl Company. and Bradley
Martin.
The tangled affairs OF the Carnegie
Trust Company grew so bad that there
was no way out, and Reichmann was
forced 20 resign his position as president.
His trial although il came first. was not
regarded a. so important as that Of Cum
Minis. and out Of these two grew the trial
OF Charles T. HYDE. former City Chamber
lain
Reichmann was found guilty in June.
1911 and on July vas sentenced TO the
penitsntiary Then came his release or
the certificate Of reasonable doubt and the
appeal which proved TO have been un-
necessary.