The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-07-21
ANOTHER GREAT BANK FRAUD

"
ANOTHER GREAT BANK FRAUI
The Brooklyn Trust Company Rob
bed by Its President of Half n MIL
lion DoIIars..The Facts BrOugh
TO Light by His Death. J
New YORK, July 1O.-ThiS morning
the Brooklyn Trust Company, OF whlcl
Ethelbert s. Mills, who was drowned OIL
Tuesday last at COney ISlsud, was Presi
dent, has suspended payment. 1t wa
discovered that Mills had overdrawn hi
account about $3.50 900, and it is said th
account Of Thomas s. Rodmani the Sec
retary, is short $4,000, For the latte
amount the company holds collaterals, bu
whether they arc good or not remains Il
be determined. Tie defalCation was no
definitely ascertained until yesterday
when it was brought to light by an inves
tigation instituted by the directors. No
only did they find that Mills had over
drawn his own account, but discovered
that he had taken worthless securities
for the sum of 100000, 80 that altogether
there was an inroad Of $450,000 made
upon the capital stock Of the company
The securities in question are from the
State Of Georgia and the New Haven
Middletown & Williamantic Railroad
Company. On the former, Mills had
loaned $15OOOO upon 100000 of Bull
locks bonds, which 1t ia claimed were
illegally issued, and the interest on which
the present authorities decline 10 pay,
Whether the railroad bonds will ever be
worth much is q question OF time.
Tho simple facts arc, while the capital
stock Is 100000, there are over $500, 900
in unavailable bonds. The deposits on
hand last evening were about $3I3O0,000
of which about $45O,OOO belonged to the
city, $0S,0OO to the county, and 100000
to Air. Stillman. The firm Of Barney,
Butler & Parsons, of this city, Stillman
represents as the dopOsitOr OF several
trusts, among them the funds Of one or
two collapsed insurance companies ol
which he was receiver. Eight directors
mako statement to the public that they
believe 1t entirely possible for the comps
ny 10. continue business in few days, and
that depositors will lose nothing. Henry
Chsuncy has been appointed receiver.
The Union says: Since the recent de-
velopments in regard TO the bank, many
persons who at first supposed that Mills
met with an accidental death are inclined
TO the opinion that he committed suicide
rather than face the exposure which he
saw was inevitable.
The Telegram has the following: This
afternoon q Telegram reporter was in
formed that further investigation by the
committee to-day reveals tho fact that
both the capital and the surplus Of the
company-thc former 100000 and the
latter $150,000-have been almost oblite.
rated, and that the losses Of tho company
by the deIalcation OF tho President and bad
debts exceed 5000, 900.
LATER DEvRLoPMENTs-PRo SUI,
CIDE OF PRESIDENT MuIs-LossEs'
100000. .-,
NEW York, July 20-EVening.-The
belief that Mr.. Mills, late president Of the
Brooklyn Trust Company, committed
suicide Is becoming quite general. 1t is
said that on the day before his death
some Of the directors Of the bank informed
him that an examination Of his accounts
would be commenced the next day. On
Monday afternoon bills obtained full
settlement with his land agent, and de-
posted check which he received from
the latter In Nassau Bank to his wife's
credit. After this transaction he settled
the accounts Of his butcher and baker,
which were usually paid at the end OF
each month.
II well authenticated, rumors circulated
last evening ore to be accepted, Mills
conduct at Coney Island the last night
oI his lie gives material support to the
the suicide theory. 1t is Bstated that he did
not retro TO his bedroom until very late
hour, and next morning it wac found that
his bed had not been slept in atthe time
OF his death. These facts were studious.
IL concealed, but yesterday those in pos
session Of them concluded that farther
secresy was useless. ~- L 80
.Itis said in Brooklyn to-day that the
examination oI tho books Of the bank, as
far a. presented last night, develops a losl
OF $4,000. Twas threatened last night
that warrant would be issued for the ar
rest Of Secretary Stedman, who continued
10 countersign Mills checks, although he
know that his account was heavily over
drawn.