OCR Text |
Show BROOK ER HAD NO KNOWLEDGE LOANS RUNNING INTO MILLIONS Saratoga, N. Y.. June 23. Although Charles F. Brooker of Ansonla. Conn., a member of the Republican National committee, was a director of the Trust Company of the Republic and a member mem-ber of its executive committee during the period in 1902 in which It was engaged en-gaged in financing the United States Shipbuilding company, he had no knowledge of the loans which were made to various persons with shipbuilding ship-building securities as collateral. He testified to this effect today in the suit of Charles IT. Kavanaugh against the directors of tho trust company to compel an accounting and restoration of moneys alleged to have been lost in the shipbuilding company transactions. transac-tions. Although he was present at a meeting meet-ing of the executive committee on July 22, si Her various loans had been made to John W. Young, Lewis Nixon and others Interested in promoting the Shipbuilding company, he did not know that those loans had. been made. Brooker. said that, ai ,tho October meeting he learned first that sums running into the millions had been advanced ad-vanced to the shipbuilding concern and that the tni6t company has guaranteed guar-anteed loans made by other institutions institu-tions to Nixon and Dresser, amounting amount-ing to $2,350,000. which were used in promoting the shipbuilding project. |