Salt Lake Telegram | 1920-11-26 | Page 11 | Walsh Probers Delve into Banking

WAl H r B DELVE INTO BANKING IN r Presidents President's law in Appears I Ap-I Ap Ap- i f pears ears us its Witness at Con 1 Congressional gressional Hearing I I y Nov E h YORK Nov 26 R. R. R W W. Bolling Boiling fi law of President Wilson I nci Wallace Downey president or ot to the iio rey ey j Shipbuilding company compan were jc cil to today testify today before the Walsh r r. r iSlin committee when it re rev re re- v d' d h hearings here on alleged coy cor Ii L gt in the United States State I rii board I d x Mr lir Ir Boiling and Mr Downey tIe E h j. j d a desire for opportunity lF qa 1 refute ute allegations made th the l last fast we wool l by Tucker K J t 1 ts fb former Washington a D D. C s 1 4 I I lal l iI I. I Mr k Sands testified d they v in an alleged alleged t trott involving pa payment ment of d b by r ff v s ir Hi Downey owne Shipbuilding company t to toIV I V I ti r ya i th 2 shipping board to obtain contract 1 r EY EY HAD SEEN NOTES 7 Pe Yie first witnesses today toda r verc were Erl- Erl IV t Wl EI t b Malmar l cashier of r th the tho Corn f i 4 e bank here herf and Jacob if m- m ll assist nt nt cashier of ot the Hanover Hano r National ba bank k who testified to seeing s otes signed b by Wallace Downey which l Jil J Ita d been received ed by their m U ns j r said his bank had received 1 v trio o notes one on September 16 1918 1315 c and tho the other on Math Marth 17 T J t 9 for 1 both signed by Dow- Dow The witness did not state stat to hom the notes were wera payable v- v if r-leman r man eman testified his bank received 1 r on two to notes signed by Dow- Dow J t on on-a for from the Tacoma r l' l park Dark bank in September 1919 and the for for which was finally pid id after fter it had been protested J Sands then was recalled to the the J ss ss chair Downey had had procured a loan from his r r. r jank through the proper proper ban bank commit commit- ife tre for tor which Sands had Investigated j the financial standing of the Downey f firm Sands testified adding that Downey Dow- Dow t ney ri y came to him after atter the loan was fl niad maps and offered him an k A tig ie fee e TESTIMONY BREAKS DOWN Sands produced the note which he previously pre testified had been given him by Lester former secretary of J i. i th the shipping board whom 1 l he 3 had hady hadI y I named in connection with the alleged i. i Downey payment This note t c upon examination by the committee w in proved oved to be signed by A l i man named i f gY Frey y who Sands said was connected V I is p r sand and gravel company i Ii T iame of ot appeared only a aa as s a er Sands admitted there was not a wor word d or a mark upon the note to show that tha t Si ler was Involved in getting a contract contract contract con con- tract tra-ct for tOl Downey's corporation I The Tha witness repeated previous testimony testimony tes tes- that he had understood th the e fee represented by Downey Downey's s notes were for procuring contracts Downey he did not know ho how w the money was to be divided