Evening star., 1932-05-27
WALKER TESTIMONY
DENIED BY FR|END|
Witness Says He Bought
Stock for Mayor Which Lat
ter Said He Never Owned.
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Walker said at the same time he wanted
to get some for himself.
Herrick said Walkers share was paid
for with $4,000 sent to him from the
City Hall by either the mayor or his
, secretary, Edward Stanton.
He testified that $50 shares of the
stock were issued in his Herrick's, name,
and that the Endorsement on the Ger
tiicate showed that 25 shares were to
go to Oliphant, and the rest were to be
broken up into five units. two OF 100
shares each, two of so shares each and
one Of 25 shares.
Herrick testified that all were put n
his name, but that he actually got only
25 shares.
Herrick testified that whether the
$4,000 came TO him from the mayor
directly or from the mayors secretary,
there was no doubt in his mind that
the purchase was made for Mayor
Walker.
Met Stanton Recently.
, He said he had met Stanton recently
. and had talked about the matter with
him and that Stanton told him he
: (Stanton) had probably handled the
; matter.
There is no question, however" Her
rick added, that. if Stanton handled
it, he handled it for the mayor"
While Mayor Walker was on the
stand Seabury questioned him about
the ownership of the Interstate stock,
part of which. according to testimony
previously heard, was used by j. Allan
Smith. New York agent of the Equitable
Bus Co., to obtain a $4,000 loan.
1lv1r ;aI t,n
ever owned any of the stock, Seabury
intimated to him that Commissioner
Herrick had given contradictory testi-
mony in a private examination and
asked the mayor if he wished to make
any further statement about the stock
Walker repeated his denial. and said
he had nothing more to say on the sub
ject.
Refers to Sulzer Offer.
Walker testified that former Gov
Silzer of New Jersey, while organizing
the Interstate Trust Co.. set aside for
him $50 shares and gave him the
privilege Of buying them at $3.50
share.
He said he never bought any and
never owned any, but that he tipped of
a number of his friends including Her.
rick, that the block of stock was there
and that they could buy in if they
wished
Commissioner Herrick testified he
turned over 300 shares of the Interstate
stock to Stanton. with the understand
ing that they were going to the mayor.
He said he Endorsed all the certificates
in blank and that none of them bore
any other Endorsements when he turned
them over to Stanton.
He said he gave Stanton two certifi-
Gates of 100 shares each and two GER
tificates of so shares each
After Herrick had identified two 100
share certificates as those he had given
Stanton, Seabury said they bore in
dorsements to j. Allan Smith, the man
bought $4,000 letter of credit which
the mayor and his party used during
a European trip in 1927.
Hastings Used Certificate.
One of the 5o-share certificates
identified by Herrick as having been
turned over to Stanton, was Endorsed
to Kincaid, Florentino & Co., Seabury
brought out
Herrick testified he had been told by
two Federal internal revenue men that
Senator John A. Hastings later put this
certificate up as collateral for a loan
The second 50-share certificate,
identified by the witness as one he
turned over to Stanton, was split into
two Endorsements. according to nota-
tions on the certificate, Seabury said
Twenty-Five shares, Seabury said,
went to Mrs Mary A. Smith, l29 De
Witt street. Syracuse. the wife of J.
Allan Smith, and 25 to Frank R.
Fageol who was one of the hackers Of
the Equitable bus venture.
Shares in Sealed Package.
Commissioner Herrick said definitely
1t had been his intention the stocks
should reach the mayor, even if they
went first to Stanton.
The witness said he gave the 300
shares to Stanton in a sealed envelope.
He was not sure, he said, whether he
delivered it himself or sent it by mes
senger
Commissioner Herrick repeated testi-
mony he gave at the private hearing
Walker from the record yesterday.
That testimony was that some time
after the delivery Of the stock to STAN
ton, Herrick asked Walker if he still
had it, and Walker replied:
No, l put it up for collateral on a
loan, and it's all gone"
Walker denied yesterday he had ever
said any such thing to Herrick, and
repeated again his denial that he had
ever owned any of the stock.
Sticks to Story.
Herrick today admitted having given
this testimony at the private hearing,
and when he was asked if he still re-
garded it as the truth, said
L have no reason to believe it was
incorrect except that the mayor testi-
fed differently yesterday"
Senator John j. McNaboe of the
Democratic minority, asked Herrick If
he had read the mayors testimony,
and Herrick said he had.
Did it serve to refresh your recol-
lection?" McNaboe demanded.
1T served to shake my recollection.
not freshen it," Herrick replied. Il
can only say the testimoney I gave at
was correct"
One or Other Is Wrong.
What do you think now of your
recollection?" asked Senator McNaboe.
Either mine is wrong or the mayors
is wrong" Herrick replied. Il don't
know which
Seabury produced deposit slips indi-
eating that Commissioner Herrick had
made three deposits of $4,000 each in
his bank account in September and Oc-
tober, 1926, at the time when the
shares were purchased.
Herrick testified that this money had
come to him by messenger from the
city hall
The session this morning opened with
a summation by Seabury of the facts
already brought out.
Seabury adduced records to show that
of the S700,225 Sherwood deposited
from January 1. 1926, to last August,
more than half was in cash. Walker
insisted Sherwood's only connection
with him was as an old employe of his
law firm who did little services for
my wife and me-"
When Seabury showed that Sher-
wood withdrew the s263.000 from the