The New York herald., 1922-09-30
ATTACHES STIFFNESS
new YORK DEPOSITS
James A. Tillman Asserts
German Owes Him 5000
1876 in Commissions.
SAYS S5.0OO,000 is HERE
Four Banking Concerns
Named Profess Ignorance
of the Accounts.
GREAT GAME OF MARKS
Promoter Charges German
Plunged Into Scheme Of
.Fanciful Finance
GREAT GAME OF MARKS

Hugo StinneSs American bank ac-
counts were attached yesterday by
James A. Tillman, lawyer and pro-
moter. who charges that the German
financier owes him s2055,1S5 in COM
missions for his part in transferring
to SHINES certain commercial agencies,
which. Tillman says. he acquired for
this purpose. Also Stinnes's effort to
raise a loan of S200.000.000 in this
country figures in the case, Tillman
says, because acquisition Of the
agencies had direct bearing upon the
attempted fotation of the loan.
The attachment was made upon
money that SHINES is supposed to
have on deposit with the Equitable
Trust Company. the National City
Bank. the Guaranty Trust Company
and Hollesen & Co. "A Beaver street.
The exact amount that SHINES has
on deposit in America was not given,
but it is said to be in excess of So
600, 700. The attachment papers were
served by Deputy Sheriff Louis Ress-
Ter. James +. Donnely of the law
firm of Donnely & Kadel. 2S0s Third
avenue, accompanied Ressler.
In his affidavit Tillman says that he
and SHINES entered into an agreement
on May 8. 1919. whereby he. Tillman,
was to take over the direction and man.
agement of a part of Stinnes's business
with headquarters in Stockholm Till
.,idan charges that SHINES was 10
Aat no z ~
1t possible to float a SIPS, 00e, 600 loan In
America and that such money was to
be used TO purchase raw materials for
Germany.
Laugh for u. =. Bankers.
But. says Tiiiman. instead of furnish
ing this collateral. SHINES plunged into
a scheme OF "fanciful finance at which
all American bankers laughed. Tillman
SAYS that no American financier would
consider the scheme once they heard
what SHINES wanted TO do. For ex-
ample says Tiliman, 500. 100000 was to
be obtained on SHINES promissory
notes unsecured by any collateral Then
SHINES purposed using this money TO
purchase billions of German marks az
the current rates of exchanEe-at thas
time the mark was worth $.0l2o-and
refund the original $1o0.000000 with the
marks market.
With these billions of marks, Tillman
charges, SHINES intended buying mort
cages. saying that he could make the
purchases at the prewar value OF the
mark These mortgages were. OF
course. to be purchased in Germany.
Then, the affidavit goes on. SHINES pur-
posed fetching the mortgages to Amer
lea and offering them as security for
a Zig loan.
Tillman, the affidavit says, knew
American conditions and told SHINES
that American financiers would not
consider such schemes of pyramiding
with marks. He says he insisted that
SHINES adhere to the original contract
which Tillman says meant straight
forward business proposition. But
SHINES. the affidavit says, refused to
do this.
The writ was signed by Justice Was
servogel OF the Supreme Court. Till
man once had offices at 165 Broadway
and was interested in some OF Stinnes's
early efforts to make personal COM
mercial contracts with Russia
Can't Find SHINES Funds.
canvas OF the more important banks
yesterday failed TO show that SHINES
has any funds in any of them. At the
Equitable Trust Company. the National
City Bank and the Guaranty Trust
Company officials professed complete
ignorance OF any OF Stinnes's money.
III. Holleson, head of II. Holleson &,
Company. ~ Beaver street, admitted
that he Is the agent in this country of
Hugo SHINES. but he said that his
transactions with him had been of a
business nature and that never at any
time had there been any large sums of
money for the account of the German
coal and iron baron In the office Of his
company. Mr.. Holleson said that he
had received an order OF attachment
signed by Justice Wasservogel restrain
ing him from paying out any money
held by him for Hugo Stinres. but as he
had no money for the Germans account
he could not pay any out. Mr.. Holleson
stated that he had heard of James A.
Tilman. but he had never met him
and he could not say what the nature
OF the services might be.