COPPER KING'S ARREST.

Dominion, Volume 1, Issue 139, 6 March 1908, Page 10

COPPER KING'S ARREST.

GRAVE CHARGES,

The sensation of tho, day, before which the J.haw trial suddenly paled into insignificance, is the.arrest of--Air.' F.. Augustus Heinze, the copper magnate, whose attempt to "corner" United' Copper stock wa? tho immediate'cause of the financial panic, in October, from which thecountry is still suffering,'says the "Daily Mails American correspondent. r ; Heinzo was arrested on a warrant issued by Judge Chatfiqld, of tho United States Circuit Courts, charging him with over-certi-ncation of 15 cheques drawn on October 14 on tho Mercantile National Bank, of which he resigned; the presidency on October 17, amounting altogether to £80,000. ■ Ho was subsequently , arraigned before Commissioner Shields, pleaded not guilty, and was roleased J'® 1 ' °f £10,000. His legal representative, Mr: Edward said that Mr. Heinzo had not tho slightest idea of violating tho banking law when, as a director of tho Mercantile National Bank, ho directed the certification of cheques drawn by Otto Heinzo and Go. His counsel denounces tho charges as inexuMi If 1 declaring that what ho did tile largo nail Street banks do every day. A deposit to cover tho certifications, ho says, was made immediately,' but tho bookkeeper, apparently forgot to enter tho deposit till next day. Upoii that technical ovorsight tho indictment is based. Mr. Heinzo wil lappear to answer the charges mado against him. If ho bo found guilty ho is linblo to imprisonment for not less than fivo or not moro, than 10 years. ■

The indictment rccalls vividly tho days of tonsion in October, which resulted in' the forced resignation of Mr. Heinzo and his associates, Mr. Morso an dthe Thomases, from tho control of their ohain of banks.