The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-05-07
insult RUSHED
TO CHICAGO BY
u. S. AGENTS
Ex- Utilities King Is Taken
From Steamer, Put
Aboard Train.
IS KEPT SECRET
Ready for Fight of Life,
Says Magnate, Under
Heavy Guard.
By United Press

By United Press
ABOARD PENNSYLVANIA RAIL.
ROAD TRAIN, CHICAGO-BOUND
May samuel insult, heavily
guarded and his route still secret
was on the last stage of his long
journey from Turkey to Chicago to-
day in the custody of federal of
ficeYs.
The former utilities executive sale
he was ready for the fight of my
life" for vindication.
The government kept up the
secrecy surrounding return of In
sull by limiting that the party in
which he is a prisoner might change
trains en- route to Chicago. They
boarded a Pennsylvania train which
made a special stop at Princeton
Junction, N. j., at 1903 a. m.
In an amazing twenty-four hours
insult had been taken without cere-
mony from the steamship EXilona.
lying off Sandy Hook, and rushed by
government cutter to Fl. Hancock.
where he was transferred by motor
to the junction point where the
train for Chicago was boarded. He
faces charges of embezzlement in
Chicago.
With him was his son, Samuel
insult Jr., who had met the one
time multi-millionaire at sea to Of
fer him aid and comfort on the last
thousand miles of his 7,O00-mile trip.
Their meeting vas the only mo-
ment of emotion shown by Samuel
insult upon his arrival.
Four automobiles, escorted by
state troopers, bounced the prison
er and the accompanying party of
government officials and correspond
ents, in rapid order, over the forty
seven miles from Fl. Hancock to the
junction. On the way, the party
passed the Great Freehold IN. j.
electric plant, once a part of In
sull'S great possessions.
Maintains Calm Courtesy
At the junction, insult maintained
his calm courtesy, and permitted
photographers again to take pic
lures.
Issuing a statement in connection
with the case, insult said, among
other things:
The whole story has not yet been
told There were errors in judg-
ment, but not dishonest manipula-
TONS"
His statement read:
Il am back in America to make
the most important fight of my life
not only for freedom, but for a
complete vindication. Two years ago
when I left this country, there were
no charges against me.
When 1 left the companies which
over a period of forty years I had
helped build were in the process of
reorganization. The terrific stresses
of the depression and the mistakes
which l made in an honest effort
to protect the companies and the
investors in them made a reorgani-
cation necessary.
Instructed to Resign
Arbitrarily, I had been instructed
to resign as the head of these COM
panieS which I had built and which
1 had tried to protect.
L was told that 1 was no longer
needed. Tired from the fruitIess
struggle to save the investment of
thousands of men and women, dis
couraged in my attempts to defend
the investment of my friends and
associates, as we'll as everything I
had, l got out.
L wanted to rest. I knew that
the work of reorganization by the
new management of the companies
from which I had been asked to re-
sign, would be hampered if I re-
manned. Policies and administrative
plans were being altered to meet
conditions I had not foreseen. The
new management was entitled to a
free hand, unembarraSsed by anv
suggestion from me.
No charges were brought against
me until 1 had been away for three
months. My return at that time
would have further complicated the
problems of the reorganization of
the companies.
/ Have Erred
Charges against me grew out of
my business operations. My trial. I
felt, prior to a reorganization and
readjustment of the companies
troubles, would hinder this recon-
Struction. This, to me, was far
more important than my fate, be-
cause it affected the investments
OF thousands of people. Then, too,
from my own point of view, I was
confident that my trial would be
Simplified if all the facts about the
companies were known first and
their reconstruction was we'll I'M
der way, before I was forced to face
charges which had been placed
against me.
Il have erred but my greatest
error was in Understanding the
effect of the financial panic on
American securities and particular
ly on the companies I was working
so hard to build.
Il worked with all my energy to
save these companies. I made mis-
takes but they were honest mis-
takes. They were errors in judg-
ment, but not dishonest manipula-
tionS.
The whole story mas not peen
told. You only know the charges
of the prosecution. Not n word
has been uttered in even a feeble
defense of me. And it must be
obvious that there also is my side
of the sorty.
When it is told in court, my
judgment may be discredited, but
certainly my honesty viii be vindi-
Gated"