New-York tribune., 1922-05-24
EA-Broker Calls
Fellow Cotton
Dealers, Crooks
Tells Of Cross Sales i,.Nl,ich
He Participated and Viii
American Exchange for
Violation Of <grccmeu,
Pratt SilencesBucketTaIk
Board Official Told Rose
Not TO Discuss Practice
Before Him. Sav> Another

Samuel Landecker, member Of Orms-
bee Iandecker, cotton brokers and
formerly members OF the American
Cotton Exchange. which is on trial in
the supreme Court on an indictment
charging hucketing. was witness
again yesterday. Dir. Landecker, called
by the prosecution. admitted in court
on Monday that orders for cotton were
hucketed in the pit Of the exchange
Icster rday he was cross examined by
Albert Massey, counsel for the Amer
lean Cotton Exchange.
Landecker said that another broker
complaned about him to an Officer Of
the exchange concerning one Of the
cross-fnccred transactions wherein one
broker buys from another, known in
tto parlancc Of tho defendant exchange
as an "afinjty,' and the purchaser IN
turn sells back to the original seller,
without either really buying or selling
anything.
Tho officer in question ruled against
him on the complaint, Landccker said.
The witness testified that this caused
him 10 remark, at is A fine thing when
y bunch o. crooks cant stand together
when they make an agreement.
"Nesning vourself?" asked Mr. Mas
soY
II was amongst them" replied the
witness
Directors Fight Involved
Mr. Massey. unon the cross-cxamina-
ton Of Mr. Landcckcr, sought to bring
out that tho attitude of the witness
toward the exchange was due 10 the dc
feat Of board Of directors ticket
nominated by Mr. Landecker's partner,
MIR Ormshv I'm witness said that he
and mis- partner Quit the exchange
when thoy failed 10 induce Augustus
Graham president, and Horace Pratt,
secretary OF :ho institution, to compel
the brokers to do business IN tho pit in
legitimate manner.
Mr.. Massey asked Mr. Landecker
what he and his partner had expected
to do + their directors ticket had been
successful The witness explained that
they would have served without salary.
saving the exchange $4,000 a year
they would have engaged some pract-
c9l cotton men and some means would
have been found 10 stop the bucketing
William r. Wilson formerly a
member Of the American Cotton EN
change. was another witness yesterday.
Soon after he became a member, said
Nh. wilson he complained to Mr.. Gra-
nam. president Of the exchange, that
he did not approve Of the buchetng
that was gong on on the floor. Mr.
Graham promised that the pracdcc
would be stopped, the witness sod
t,ir+ ~! = i,,1. I,y
son testified he was told that Randolph
Rose sr. another member wanted to-
see him According to the witness,
Nh Rose told him that his business
was growing so rapidly that he wanted
somebody with whom me could cross
trades. MIR Rose, Mr.. Wilson SAID, Of
feled to set him UP i'm an office and
give him $4,000 working capital, which
offer he declined.
Pratt Si!ences Bucket Talk
Mr. Wilson also related convcrsa-
ton in the Office Of MI. Rose in which
the witness testified MIR Rose said in
the presence Of Colonel Pratt, socre-
taly Of the exchange. that if he did not
make plenty OF money regularly he in
tended to cross trades and bucket
Colonel Pratt said, Don't talk about
bucketlng in my presence | am an
officer Of the exchange and don't want
to hear anything about it,"
Hugo Wintnor, Assistant District At
torncy, tried to introduce. through Mr..
Wilson. q copy Of petition served
upon Mr.. Graham, president Of the cX-
change last February, urging that the
exchange purchase certain amount
Of cotton in order to do business in
the ring Mr.. Massey objected to the
introduction Of this evidence, where
upon Mr.. Wintner put Mr.. Graham on
the stand to Identify the copy as one
which he had previously identified in
John Doe proceedings before Chief
Magistrate McAdoo. Mr. Graham sand
he had read a few paragraphs of the
original and that Colonel Pratt. secre-
tary of the exchange took it from him.
He did not know what became Of it af-
ter that.
The trial will continnn .oIa,.