The Bridgeport evening farmer., 1916-04-17
HERVIE BURR'S
 MEMORY POOR
 DURING INQUIRY Can't Recall Many Things Connected With Burr &
 Knapp Bankruptcy. EXPENSE LISTED AS
 ASSETS UPON BOOKS Sixty Thousand Dollar Busi- ness Sold For Song, Is
 New Disclosure.

NCW O4SC4O0 u4 Os
 Failure of Hervie Burr. of the firm of Burr & Knapp to recall many things intimately connected with the defunct banking concerns business featured the iAQuiry, which began today.
 Interesting things were brought out. It was intimated that a $60,00O busi- ness had been sold for a mere song. Expenses had been listed as assets. was one assertion. A letter book, con taining correspondence for the days before the bankruptcy is missing, it was testified.
 The hearing was begun before John w. Banks, referee in bank ruptcy, today.
 Hervie B. Burr, former member of the bankrupt firm of Burr eSS Knapp was summoned before the United States District court to be examined prosecutor for the state. He was a most reluctant witness, memory having failed him on material points in which he is supposed to have acted in a hduciary capacity for Miss Anna P. Pendeld, the Georgia Loan & Trust Co. and others financially interested in the concern.
 So poor was the memory of this young banker about transactions in which he is known to have taken part that John c. Chamberlain, trustee, was compelled to comment to the eff of a banking firm should be found to know so little of what actually happened within such a short space of time after the events.
 It was disclosed from the proceed- ings today that the Title Guarantee concern as the defunct firm of Burr & Knapp, having the same business, books, etc, as did Burr & Knapp without the banking business and one clerk that was formerly employed by Burr & Knapp
 An attempt made by Attorney Bow CTS to ascertain what became of the stock of the old City Guarantee & Safe Deposit Co disclosed that 1, ,0O6 shares of this concern were sold by the receiver for $500. The witness under examination today swore that this business was worth between $6e,- 900 and $7O.O0o.
 out in the inquiry dtvu1ged that the Burr & Knapp books disclose that an< automobile account was carried on the books as assets to the amount of $12,O00. Testimony of Hervie Burr was to the effect that these assets were in reality liabilities.
 Attorney John c. Chamberlain, who interposed remarks throughout decelared that a close examination of the books probably would show that found not charged as disclosed by the investigator, and that the last was sold for $35O having cost, when new, 1,20o.
 It was also disclosed that Hervie Burr who apparently had much to do in the Burr & Knapp's business conduct, but could remember little until teIegrams and documents were shown him to refresh his memory, was left to close the doors when the failure occurred, Herbert M. Knapp having left the city earlier in the morning after he had ordered the re- ceivership.
 In explanation of the sale of City Guarantee and Safe Deposit stock for paltry sum, Trustee John c. Cham berlain later said that this stock rep resented the entire patrimony of Charles Knapp, who had spent nearly $4o,0O0 in getting the records and $10,0 for the use of J. F. Morgan s system of Bookkeeping. He said that this stock had greatly deprecfAted un- til it was finally sold by the Bullards to him for $2,6oO. An equal equity in the business had previously been bought by Herbert M. Knapp. Charles Knapp he said. is working for SIP per week today.
 The only statement that Attorney Bowers would make today regarding the proceedings before Referee Banks was:
 q am here to find out if funds have gone into other hands through prefer ence or otherwise, which should not be in possession of theIcredttors. And I am going to find out.
 That there has been considerable friction regarding the procuring of necessary tnformation regarding the
 A1,A tie Guarantee & Trust Co. getting the stock and business of the Burr & Knapp and some of it's correlated companies, was evident from the tes- timony today. A letter book of the Burr & Knapp firm having theA correspondence of the company just prior to it's failure, is missing. Certain other checks and te1egrams are said not to be found and it was primarily to ascertain what became of these docurne ents that Her vie Burr was placed on the witness stand. He declared that he was neither secretary of the Burr & Knapp firm, or the Title Guarantee & Trust Co.,, as had been supposed r Failure of young Knapp to recall whether he had been given money to purchase the stock of the City Guar antee & Safe Deposit Co., by Miss Anna Penfield or whether he pur- CIicdSSd 4IIlo SNOChi oIA CoeHy AOA Guarantee & Trust Co. caused Attor- ney Bowers to ask that he be com peIed by the court to produce the books of the latter company to show just what the transaction involved. At this juncture John c. Chamber alin as an officer in that company de- cIared that the books would be placed at MT. Bowers disposal in their of flee.
 "An right replied Mir. Bowers, ''I
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