New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-15
TRUST COMPANY SECRETS REVEALED.


THE TErL-TALR LIST or BONDS AND MORTGAGES
WHICH ALDERMAN ROPES KEErs BACK-fHE
ACTING DISTRICT ATroRSEY's OBLIGATIONS To
Tux BASK-JUDGE M'CUE's TWO CRATES y
ONLY ONR-THRD or THE BANKS MORTGAGES IN
KINGS COUNTY.
The President and Trustees of the Brooklyn
Trust Company, few days ago. entered protest
against what they termed the "
the press and insisted that the solvent;
that all ths bonds and mortgages Of undOabtc;
character, aad that member Of the Ring officer ~
the institution had been loaned Doney upon saoh
security. They refuses, however 70 furnish st OF
their securities Ia deai and President Ropes gave
reason for withholding them that make it puOiie
would no 70 bctray their patrons To many this excuse
seemed unsatisfactory and evasive aud the opinion pre-
vailed that there wa mach concealed that should DO
brought 70 light as the bank officials failed 10 make
the exact condition Of the Institution manifest it be-
came the duty OF THE TRIBUNE furnish the nforsa-
ton 70 the public. To that end thorough examination
has been made Of the books the Registers Office IN
Brooklyn and some curious facts respecting tie bonds
ana mortgages which are held by the Trust Company
have been brought to light.
Il appears that Edgar N Cullen the public prose
cufor OF ROdman, whose CRIME Mr. Ropes the President
Of the Trust Company, concealed from the public has
borrowed large sums Of money fron the Trust Company
which he still On different occasions since June
70 bonds and mortgages houses and lots in Brooklyn.
This IL ordinary way OF borrowing money. but II IL
pecuar feature OF this ID ttsome Of the property
ipoD which the money has beeJ borrowed, it is stated.
would bling less II sold forced sale than the amount
of the bonds and mortgages. The sums were easily
raised Judge McCue the eadng stakeholder and a..
rector OF the bank. is the relative law partner Of
M Cullen In addition this amount which Mr.. Cul-
len borrowed his individual account, he has Dor
rovsd 90 80 bonds and mortgages which have been
ass yned 10 him referee. The amount, therefore,
which has realized. principal and referee. from the
bspK and for which holds his bonds and mortgages is
S5Qgj 50. His brother, genry J. Cullen, w., also
nephew ana law partner ~ Judge McCuey has turned
over TO the Trust Company, FOR the consideration Of
one dollar" referee, since Jan - lS2, in numerous
cases. bonds aud mortgages amounting 70 SlS972 The
total amount Of the bonds and mortgages placed by
Judge McCue aud partners the custody Of the Trust
Company, which holds them Is therefore SA9h 3d.
II appears from the books in the Registers office
that among the bonds aud mortgages now held by the
Brooklyn Trust Company two securities for 5000
each advanced to sidney v Lowell, who was Assistant
CORPORATION Counsel Judge McCue, upon property
in Unor-st.. near smthst which, It is claimed, cover
the full value OF the property These amounts were
narrowed In March and April Of this year Among the
bonds aud mortgages held by the Trust Company are
M three separate indeutures given by John A. Belts
ia December 1871 and M1rch, 1872. to the Trust Com
many for two loans Of &c. 900 and one Of $4,000 or s6O
ogct her Examination has revealed that It has been
customary for Judge McCue to appoint his law part
ners Edgar N. Cuen, Acting District Attorney and
Henry j. Cullen. r bis brother referees, and their
custom has been deposit the funds which came into
their possession with the Brooklyn Trust Company
where IN cases 1t has remained for months ana
wears before Gua decision in the courts has disposed
OF it.
In view Of these facts, the delay which has occurred
in bringing the proof OF Rodmans guilt before the
Grand Jury Il attributed 70 desire on the part OF Mr.
Cnllen TO shield the cuprit from an examination which
would reveal many irregularities duplicating the d.
nctors and officials Of the bank. The table below com
ied from the Registers office, shows the mortgages
held by the Trust Company ON property situated 10
KING. County II is noticeable that the total is only
s Ooo or less than onehrd OF the amount claimed by
tle officers OF the bank 20 he N its possession.