The Washington times., 1934-11-03
PROVES 'CAGEY'
UNDER QUIZ Of
PROSECUTOR
Former Magnate, Testifying
in Own Behalf, Proves
SkiIIfuI in Evasion

art of croSs-examination, the for
mer utilities car was "cagey" as
Mr.. Salter at once plunged into
a line of questioning concerning
the proposal of insult and his
associates to split up the stock of
Corporation Securities Company,
a few months after it was first
offered to the public in the form
of allotment certificates COM
prising units of preferred and
common stock.
Mr.. Salter was determined to
bring out that insult was back
of the plan to offer the common
stock to the public, as was done
in March, 1880, with promises of
dividends which the common
stock, Mr.. Salter said, could i'll
afford to pay.
But the old man could not re-
member much about circular
which offered the stock to the
public.
He didn't remember" CORE
Epondence he had with Charles w.
Stills and Frank K. Shrader, two
of the 16 other defendants, prior
to issuance of the stock offering
circular.
Finally Mr.. Salter got insult to
admit he undoubtedly had ap-
proved a plan to have the COM
mon stock of Corporation Securi-
ties placed on a dividend basis
right at the start.
Mr.. Salter asserted insult mad
Cabled from Europe he would pre-
fer not to pay dividends for a
year, but would consent if Samuel
insult, jr., his son, and Martin In
Sull, his brother, agreed it was the
thing TO do. Mr.. Salter said he
had Insults cable to that effect.
Cannot Remember
The old man said he probably
sent the cable but could not re-
member it. He was 1000 miles
from Chicago at that time, he
said, and he had depended on his
representatives at home. Mr.. Sal
ter demanded:
"NOw, Mr.. insult, isn't the
reason that you put that stock
on a dividend paying basis
against your own judgment was
simply to make the stock look
more attractive to the public
whom you were asking to in
vest savings in this company?
insult stammered. He didn't
know. He was not sure. AT last
he said:
"Now, gentlemen, at that
time there wasn't any trouble
about selling a million and
quarter shares of Corporation
Securities stock. Everybody was
ready to buy it even with
market condition that wasn't
so good as the previous year."
At this point the 39-year-old
cross-examiner smiled at insult
and said:
81 didn't want to get any
thing out of you other than
just the truth"
And insult came back:
"WeII, we'll get along FAM
Ously if that is all you want"
insults voice was firm and con-
fident. He seemed stronger than
at any time since he first took
the witness stand three days ago.
Tells of His Career
The old man then drifted into
n 1ono.Winded recital of some of
his business career. Mr.. Salter
was plainly annoyed and sank
back in his chair completely ignor-
Ding the witness. The cross-exam-
liner then started to hold low
toned conversation with several
government accountants grouped
about a table at his side.
insult noticed the "huddle" and
glared at the prosecutor through
his pince-neZ. Mr.. Salter told
him:
"I'm listening. Go ahead"
But insult was angry and
blurted out:
"YOu must have far greater
ability to hear than 1 If you are
listening and having a CONVEX
satiOn with your advisers at the
same time"
insult then rambled on, telling
some details about the formation
of his various companies, details
the jurors had heard from him be-
fore on direct testimony