New-York tribune., 1920-10-12
Judson Kept
Data ON Deals
Under His Hat
Continued from pasc ono)

CONTINUED from page ono)
paying his bills with currency and de-
stroying the receipts for them almost
as soon as they were received. He de-
clarcd that he considered $4,000 in
cash to be a "small sum" for man
to carry about with him.
Judson said that when he received
from Fanshawe G. Co. Sl23, ,292.9S in
cash as part of his profits on the sale
of. a large block of bonds to the State
Comptroler's Office he deposited $780,
600 in a safe deposit box in the Fifth
Avenue branch of the Metropolitan
Trust Company and allowed it to re-
main there for a year. The fact that
it drew no interest during this period
did not appear to worry him.
In explaining his desire to receive
most Of his profits in cash ,aJudson said
that after the outbreak of war in
1914 he had an "inspration" that it
would be highly advisable to have
-arge amounts of money in places
where they would be easily and quick
! ly available. sHe said he had been
through several financial panics and
thought this the safest method to pur-
sue. He declared that he also found
it more convenient to do business with
/ cash tIldH Win CNcCkS.
! Pressed by Mr.. Pecora to tell just
s low he disposed of one item of $4,000
I in cash received from Fanshawe & Co.,
Judson said he had bought jewelry
from Tiffany and also from Charlton
on Fifth Avenue. He declared that he
had also made number Of unprofit-
able investments, but preferred not to
SO into detail about them, as he did
not wish to "add to the store Of lSnowl-
edge that has accumulated on the sub
ject Of how a fool and his money are
parted"
Judson, who is a man about sixty,
wore dark glasses when he entered
the District Attorneys office, where the
inquiry is being conducted before JUS
tice Frederic Kernochan. He had to be
assisted to the witness chair by his
attorney, Senator Walter r. Herrick.
Later the witness said that his eye
sight had been failing since last June
During the recess a reporter asked him
how he managed to count the large
sums Of money he said he usually had
with him if his eyesight was so bad.
Judson reached into his inside pocket
and drew out an unfolded bundle of
what seemed to be several hundred
dollars in new money. 1t was divided
by elastic bands. Around the one dol
lar bills there was one band, around
the tives there were two, The tens were
held by three and the twcntes by four
clastics.
During the time that Judson was tcs-
tlfylng he thumbcd a we'll worn five
cent piece, although he was not at all
nervous at any time and seemed anx-
ious to answer Mr. Pecora's questions
as we'll as his memory would permit
He gave his address as the Plaza Hotel
c. hn N =
1907. His expenses at the Plaza, he
said, usually were paid in cash.
Many Friends in Albany
In telling Of his many trips to AL
bany to discuss prospective bond in
vestments with Comptroller Eugene NJ. |
Travis and Deputy Comptrollad James
A. Wendell it developed that the wit
ness has q wide acquaintance at the
state capital He said that when he
was graduated from college, in 1892, he
became assistant business manager of
The Albany Evening Journal, owned by
WILLIAM Barnes, although it was not
until 1914 that he acquired the 100
shares of stock in that publication
which he later pledged with $4,000
worth of New York City bonds, as col
lateral for q loan Of $4,000 which he
obtained from the Metropolitan Trust
Company
Judson said his father had for many
years been chief examiner in the State
Ranking Department, and that he him
self had been for some time account
ant and statistician to the State Board
of Railroad Commissioners. He said
it was during this time that he first
became acquainted with Deputy Comp
trollcr Wendell, to whom he frequent
ly referred yesterday as "Jimmy.'
When Judson took the stand he was
informed Of his right to refuse to
answer questions that might incrim-
mate him, and when asked TO sign
waiver of immunity Mr. Herrick in
formed the court that while his client
had been willing to do this he had re-
fused to permit it.
Mr.. Pecora asked Judson who had as
sisted him in carrying on his bond
transactions and the witness replied
that he had employed three stenog-
raphers who had acted as private sec
retarcs, but that one had gone to
Havana, another to Lake Champain
and the third to California The Wit
ness could seldom recall the details Of
any Of the seven bond sales carried out
with the State Comptroller's office
through Fanshawe & Co. until Mr. /
Pecora related them from the records
if they were on the Fanshawe books
they must be so.
Mr.. Pecora made persistent efforts
to ascertain why Judson's name had |
been concealed in the various deals |
carried on by him through Fanshawe /
while in ten transactions with the state |
carried on through other concerns he /
was named as the Comptrel ler's agent |
To all these queries the witness in
variably answered: "Because it was
most convenient for me and because
Fanshawe & Co. had the clerks, book
keepers and facilities for handling
such business"
Judson testified that the only agree
ment he had with Fanshawe in the
state bond deals was "gentleman's
agreement" made orally and that he
had no idea what had become of the
profits not collected by himself He
presumed they had gone to Fanshawe
& Co.
at there, had been any written agrcc-
ment covering our transactions it
would have been only one more paper
to read said Judson. When he was