The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-03
CIRCUIT ERRED, HIS
COUNSEL ADMITS
Signed False Bank Report
Through Faith in Others,
He Says.
DENIES ANY MONEY GAIN

stephen e. Baldwin. in opening yes
terday for the defence at the trial II
ex-City Comptroller Edward NJ. Grout
for perjury. promised the Jury to prove
that the presidency Of the Union Bank
OF Brooklyn was practically forced on
his client. who erred. perhaps. in swear
ing to the false bank report of March
20. 1910. but merely through faith IN
others rather than false pride or selfish
interest.
Mr.. Baldwin referred to a report filed
In the Supreme court on August .. 1910
two weeks before the bank reopcned-
In which clark williams. then state SUI
perintendent of Banks. recommended
that the bank be reopcned under MIR.
Grout and suggested that assurance
should he given that the presidency Of
Mr.. Grout liz not merely temporary"
Continuing. Mr.. Baldwin said
MIR. Grout, through a sense Of duty
a word whose canin was not unknown
to h~im-against the advice Of friends
n partners. without a selfish motive.
accepted the presidency. He was told
that the bank would not he reopcned
unless hi did so. lie urged the accept.
ance of others for the place men en-
pcrienced in banking, naming them.
They were each In turn refused.
When he finally accepted 10 rs-
sumed that. AZ matters were straight.
ened out, he would 500, ne su" rr'I Il
by u practical banker. For eight. N
months he struggled bravery WIN tc
situation. On April I. 1910, IL h"lug
found. not tina the bank was insolvent,
but that its capital was impaired not
that the depositors were in danger. hut
that the stockholders might lose. - g..
fused In open meeting of the directors
an offer OF financial assistance 80.
lieving ii to be his duty and against
every instinct Of pridc-thHt PR
which il has been asserted was tn
motive which made him sign a fs's.
report-he closed the bank. exhausted
in health and exhausted in personal
resources. only to find that he had
pulled the temple down only to invite
criticism and torment. indictment and
years of fruitless waiting for the time
when he might come before a Jury OF
his peers TO prove his innocence"
Mr.. Baldwin said that Mr.. Grout
would not bubble over the technical
question raised by tile notary's failure
to recollect whether he had sworn him
to the false report. The defendant
would admit the oath. As principal
witness for the defence. however, he
would deny that either he or his firm
had made money through his presidency
OF the bank. but on the contrary that
both had lost. II was also pointed out
the bank was under the direct and
supervision of the state Bank
ing Department and II was asser'eG
that Mr.. Grout relied on this advice.
Contrary to customary procedure, Nj.
Baldwin called several character wit
nesses before putting in the rest Of his
case. He explained this by saying that
their vacations would be interrupted
unless they were called now. Gen. Ben
Jamin F. Tracy. Secretary of the Navy
under President Harrison, was the hes,
known OF these. Among others We're
the Rev. DR.. James NJ. Farrsr. former
State Senator Bart s. Cronin and Or.
A. NJ. Goodrich.
The trial will be resumed on TUESDAY.