, 1873-07-19
WAS 1T SUlCIDE7
Tho Recent Drowning Of e. 8. Hills,
President Of the Brooklyn
Trust Company.
Discovery Of a Defalcation Of a Quarter
of Million---Unfortunate Land
Spccutations.


New YonK, July 18.-Tho circumst Al ncos Of til
drowning Of Ethelbert s. Mills President of tho
Droo1tlsn Trust Company, wero singular enough
to excite suspicion Of suicide. Careful inquiry
dspolled this for time, but 1t is now revived by
tho discovery that he was defaulter to large
amount Of tho funds Of tho Company of which
ho WAS President. AIr. Mills was worry large
operator in real estate, and several largo yon-
tures had not turned out vol. Since his death
it was stated that his account in tho BrooIIyn
Trust Tompnny had beon oyerdrawn to con-
siderable extont in hiB ondeayor to carry his
speculative ventures, and his general admin
istration Of tho affaira Of tho Company
WIS Of the 1oosast description, tho col
latorals accepted by him on loans Of
yory largo amounts being unsafe. The Dlrcct-
ors arc engaged in examining tho books md
papers connected with tho institution, md en-
doavoring to etraighton up tho accounts, and OBJ
tain a clear understanding Of the exact Btatus of
the concern. A brief examination brought to
light Irregularities, and it was ascortained that
co]laterala, On which large advances had been
made. we're worthless. Since Friday tho Exam
lining Committee have worked each day, except
during banking-hours, when the books
arc in use, aud until midnight each night
OF the loans and collaterals there aro two
largo items, which 60 far towards making the
discovered impairment OF tho capital. The
first is a loan Of sl50,0o0 On 5000 900 bonds OF
Georgia, issued in aid Of railroads IN that Stato
and which arc better known as tho "D,1look
bonds," having boon Issued by Gov. Bullock.
Tho second item Is another loan Of $3.50, 600 on
first mortgage bonds OF the Now Haven, Middle
town d Willimantio Railroad Company, built as
on independent road, but now proposed to be
1if11r in Hofw
Boston. Thers arc somo other oollatorals Of
small amounts that may provo loss but those
Tho estinateed embezzlenont Is s1O0,60o. Thoro
about 100000. What ho has douo with this
largo amount docs not appear; When tho
laat dividend Was declared tho surplus
Of tho Company =, waa " e. set down in
hns gone. Tho Impairment Of tho capital may
reach 80 per cent. This, however, was taking
the worst possible Wow Of tho case, and throw
Ing aside altogether tho deprecated and worth
less collaterAlB.
The Company WAS organized a littlemoro than
elx years ago, with capital Of $500, 600. Mr..
Mills Vas ono Of the chief organizers, and waa
chosen Preaident which position ha has held
ever since. 1t is known thnt some Of 11r. N1illA'
real estate speculRtionB resulted diaaBtrously to
to him. Two years ago ho built seven handsome
houses on Main ayenuc, lending to Prospect
Park, and a short distance from the mnin en-
trance. They must Layo coat from s15 900 to
1000 each. Not QUO has been rented, nor can
be sold for anything like cost. Ho also built q
row Of five brown-atono front houses on Clinton
street, between Sackot and Degraw atroots
These cost not leBa tAan $4,000
caoh. None woro rontod or sold in
each case the houses were uusuited to the uoigh-
borhood in which they wore built, aud could
noithor DO sold to advantage nor rented for
sll1n sufficient pay the interest on tho invest
mont.
It was believed by many that Mr.
h1il!a committed nuioldo because OF tho
peculiar circumstances connected with his
disappearance, no ono being with him when no
was drowned, and tho first iutinatton Of Ills diB-
appearance being hla clothing found noar whore
liB body Was attorward recovered, Since tue do
falcatton 1t has become known thoro aro
those among htn acqualntancos who arc in-
clinod to bclieye that ho nsado away
with himself because lo know that
an exposure WIS inoyitahlc. An intimnto friend
ot Mila has since closely examined the locality
wAero Mills was drowned, at all hours Of tho
dny more especially when the tide IL tho
Aan!o w ut tho tinao whom Mr.. Mills on
terel tho water, and ha III firmly Of
tho opinion TINT It waB m accident. This tlloory
IL strengthened by tho bearing Of hlr. Mills on
tho previous evening. lIe Bcomoa to bo in ILL.,
usually good spirits, and diacuHued tho plans OF
tho morrow With moro than usual zeat. Ills
manner was always pleasant, and, with those with
whom ha "aa intimate. oven 1oyisl'