The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-06-06
HELD ROCK ISLAND
STOCK FOR JUDGE MOORE
Big Blocks Stood in the Name of First National Bank
Employees-Director Amster Sold Shares
When Market Was Soaring.

W~AsHiNGToN. June 5.-Hearings be-
fore the Interstate Commerce Commits
sion on the Rock Island receiyership
we're concluded late this afternoon.
The last day of the proceedings was
enliNened by the testimony OF Nathan
VI. Amster of Boston, "A Rock Island d.
rector. who has been complaining of the
:anVnary manner in which the receiver
ship was applied for without consulta-
ton with the directors.
MIR. Amster on cross-examination ad-
mitted that he sold l.5Or shn-es OF the
common stock while the price was soar
ing just before the receivership, and
that subsequently he bought back the
same stock at 81 after the appointment
OF a receiver.
Silas II. Strawn. attorney for the
American Steel Foundries Company. who
c~ross-examined Mr.. Amster. suggested
that the latter had been "~scalping." The
witness ~contradicted the suggestion. He
said that he sold on the strength of a
telegram which he learned had come
over the private wire OF Clark. Childs
Il Co, brokers of New York. TO a Bos-
tor firm on April 10, which was signed
"Pulsifer." This telegram read. accord
ing TO Mr.. Amster:
Rock Island securities are the best
kind OF a sale. The Jig will be up for
Rock Island before the end Of the week.
Held stock for Moore.
Another feature OF the session was
the testimony OF +. l.. Dooling and II.
T. Brown. clerks in the First National
Bank of New York city. that they held
large blocks OF Rock Island stock a:
one time. Questioned as to who the
real owner of the stock was both ex-
pressed the opinion that 1t belonged to
Judge William III. Moore.
Evidence was introduced to show that
there were about 100, 900 shares OF Rock
Island stock held by clerks in the First
National Bank. and that the report was
general among the clerks that the stock
belonged to Judge Moore.
More light was shed during the day
on the circumstances leading up to the
application for the Rock Island receiver
ship.
II. C. Nudge OF Chicago. president OF
the Rock Island Company. testified that
he expected the receivership some time
before IL was asked for. lie had dis
cussed the prospect OF n receivership
with Roberts Walker. general counsel
for the road. and Mr.. Walker had sug.
gested that he, Mr. Nudge. probably
would be asked to act as one OF the re-
ceivers if i: became necessary to apply
for a receivership.
Later he became joint receiver with
Judge ]. NJ. Dickinson and is still pres
ident OF the railway company. although
he explained that he did not expect to
draw two salaries and was ready to re-
linquish either office as the court might
direct.
President Nudge said he attended the
Rock Island directors meeting in New
York on April Is and while he talked
Gbout the company's precarious finan-
cial condition with three or fou Of the
directors. including Roberts Walker. the
question of a receivership was not dis
cussed in the directors meeting.
Just as he was leaving for Chicago
on April 10 he was notified by telephone
from the Office of Roberts Walker that
the bill for a receivership would he
flied the following morning in Chicago
and he was Instructed to hasten back
and appear in court in the proceed
ings.
Mr., Nudge took occasion to attack the