Evening star., 1935-06-18
COL. COOPER FAILS
IN EFFORT TO GET
IMMEDIATE TRIAL
Request Under Amusement,
but Court Indicates
Rejection.
AIM TO CLEAR UP CASES
OF THOSE STILL IN JAIL
Prosecution Is Wholly Political,
Former Head of Commercial
National Charges.

| Col. Wade H. Cooper's efforts as mis-
own counsel to obtain an immediate
trial on charge Of misapplication OF
funds by payment Of unearned divi-
dends to the Continental Trust Co.
apparently came to naught in District
Supreme Court today.
While the matter was taken under
advisement by Justice Joseph w. Cox
he indicated the plea would be re-
jected, because Of the short time re-
naming before the court adjourns for
the Summer, and the fact that an
| effort Is being made to clear up those
cases where the defendants are in jail
Appearing as his own counsel in
this particular instance, Col. Cooper
former head of the Commercial Ma
tional, which closed just before the
bank holiday, presented a statement
in which he outlined the transaction
which resulted in the indictment, and
asserted the prosecution 'is wholly
political" Cooper, former president
of the Continental, which was taken
over by the Commercial, is accused
of paying Continental dividends after
the merger.
Seeks to Amend Bill.
Concurrently. Cooper went into
Equity Court this morning and sought
leave to file an amended bill in his
suit to force the controller Of the cur
rency to reopen the United States
Savings Bank, of which he also was
former president, and which has been
in receivership since the rearrange-
ment of the local banking structure
after the banking holiday. This move
temporarily was blocked by the Gov
ernment.
In asking for trial, which has been
postponed from time to time for
months, Col. Cooper told the court
he had q letter from United States
Attorney Leslie C. Garnett In which
that official pointed out that action
was being delayed on the representa-
ton Of the bankers counsel, William
e. Leahy and Philip H. Marcum, be-
cause of the condition of Col Cooper's
health.
st wouldn't undertake a trial oi
one week or two weeks" Cooper con-
tinued, but I don't believe it will take
80 minutes"
Docket Condition Cited.
Here Assistant United States Attcr-
ney Samuel F. Beach interjected that
owing to the condition of the docket
only those cases we're being called
where the defendants are held in jail
unable to make bond"
81 guess I'd better go to Jail then,
Cooper said, bringing a laugh from
the court room.
Assistant United States Attorne!
Irving Goldstein then told the cour
that the Government would requirl
three or four days to present its case
''I'n agree to everything that Is il
the record" Cooper retorted.
Justice Cox said then that he woulS
take the matter under consideration
But I don't think it will be possib:t
for this court to grant the trial"
/ Statement of Cooper.
In his statement asking trial, Coo
per said:
This indictment grows out Of twt
contracts entered into by the Cont
mental Trust Co. in January. 1890
one to sell its deposits to the Com
mercial National Bank, the CONNER
cial Bank to assume payment U. same
and another with certain stockholder'
of the Commercial National Bank tt
purchase 5000 shares of Commercia
Bank stock at and for the to;al sun
of 100000. Both these contract'
were understood and approved BY ths
directors of both institutions.
"I am indicted tor giving three
credits of $4,000 each and one loar
Of $500 to the trust company wher
it was heavily Indebted to the Com
mercial National Bank according tl
the Government, the heavy indebted-
ness consisting of The deposIting BY
the trust company of assets to cove
the deposit liability assumed BY thu
Commercial National Bank.
ut does not require a disciple oi
Blackstone to see that the depositinf
Of assets by the trust company is not
any debt at all. No money was bor-
rowed and no note was given, al.
though the Commercial National
Bank has unlawfully made an inter-
est charge of over 100000 against
the trust company, which unlawful
charge completely wipes out all the
alleged credits complained of in the
indictment. The Commercial Ma
tional Bank. under the contract, was
to collect the assets deposited with II
by the trust company without any
charge or compensation.
There was another total indebted
ness of about $4,000 to the Com.
mercial by the trust company, but
this was secured, according to the
record, by over 100000 of good
assets In excess of what was necessary
to pay the deposits assumed by the
Commercial National Bank.
| Il say this prosecution is wholly
political. without one grain of truth ir
the indictment, and can be disposed Of
by the court within 80 minutes. The
three alleged credits of $4,000 each
represent dividend payments earned by
the Continental Trust Co., as it had
no expense whatever, and were paid
in the regular way by order of It's
Board of Directors"
In the United States Savings Bank
case Cooper was represented by Attor-
neys Marcum and Thomas e. Rhodes
The petition to amend was pre-
sented to Justice Daniel w. ODon-
oghue, but the Government, through
George Baillee Springston, demanded
| the statutory five-day notice of the
motion, thereby holding on action by
that time.
Women Claim Air RECORD.