New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-05-01
Startling REVELATIONS.
HAD TAlYTOR CONFEDERATION

had TAlNTOR CONFEDERATES'
SINGULAR DISCLOSURES OF ATLANTIC BANK ACCOUNTS
SUSPICIOUS SPECIAL LOANs--A BROKER OBTAINS
$4,000 AND HIS CLERK Sc, 900 WITHOUT VISIBLE
SECURITIES.
The receiver of the Atlantic Bank yester-
day completed list OF the depositors and the amounts
their credit, but refused to give copy Of to TRIB
USE reporter. Examination also made by him Of
the special loan account and singular illustrations
were brought TO light showing the loose manner in
which the affairs Of the bank conducted by the de-
faulting cashier. These OF such character to
indicate only crmnaity the part OF Tainor but
suggested 10 Of the depositors who learned the
facts that Tantor had confedeates desperate him
self.
The special loan account shows that s3oOCO have
been loaned securities, all OF which have disappeared
OF this amount, L. II. Niles No. Broadst., one OF
Taintors brokers-and. far known, his only
broker-had received $4,000; and ]. H Conover, clerk
OF Mr. Niles who Is said 10 receive only a small salary
manned by persons as low as s. week., had
borrowed $4,000 Nearly all these loans had been made
TO Mr. Niles and Mr. COnover within the last three
months Only one loan Of $4,000 is entered having
been made previous 1873, and this as late as
November, 1872. All the securities deposited by Mr..
Niles and Mr.. Conover are among those said TO have
been stolen.
The books OF the bank show that the concern was in
20 have been deposited by him but MI Niles yesterday
appeared before Receiver Strong and, being asked
the amount Of his claim against the bank, said II was
between 500 and 500 only This extraordinary discrep
ancy continued puzzle the Receiver and the account
ants until the close OF the examination last night The
Receiver caused inquiry to be made into the stand
ing and credit Of all Taintors alleged brokers' and the
mercantile agencies reports render still suspicious
their large operations for the Of the young de-
faultcr.
Further inquiry into the accounts revealed that within
q hours OF the collapse OF the directors had over
drawn the account OF his firm TO tho amount Of $1,000
There was great reluctance the part Of the officers in
charge to give the OF this director, but finally the
reporter learned that the overdrawn account was that
OF Messrs Il Rayn0r Co. check OF TINS house for
$4,000 was certified Friday, and the bank
failed on Saturday There was only 5000
TO the credit OF the firm. Considering the good
standing Of this firm the overdraft is Insignificant;
the house good for many times the amount and even
the most exc.ed depOsiors do not intimate anything
wrong in this account Mr.. RaynOr has been director
and stakeholder years. None Of the suspicious
directed against the directors at the incorporate meeting
Of the dcpostors, which was promptly rebuked by Col
A. C Davis acting for the largest depositOrs, now pre-
vail and the committee appointed at Col Dayis's
suggestion, and headed by Mr.. W. j. A.
Fuller repose entire confidence in the good faith OF
the directors and stockholders. OF course these reYea
tons about the special loan and the overdrawn account
created great excitement among the depositors who
we're informed Of facts, and suggestions were made
that steps be taken against the alleged brokers' But
nothing was accomplished in this direction, 1t being
shown very clearly that the brokers, while admitting
the loans. could demand tho return Of tue alleged
securities before being forced TO repay the bank
No additional developments made public, the
receiver stating that yet he Is unable TO make IN IN
telhgble official statement
QUESTION or RESPONSIBILITY.
Tho Stock Exchange Governing Committee held a
meeting yesterday. and appointed committee consist
ing OF Messrs Garland Seymour aud Martin 70 confer
with the Clearinghouse Association In the matter OF
checks certified by Clearing house banks and deposited
in banks OF that association. This action is the re-
suit Of the failure Of the Atlantic Bank Prior
to this it the belief among stock brokers
that when they deposited checks certified by Clearing
house banks in banks belonging 70 that Association,
their responsibility ended aud the banks assumed the
risk When the Atlantic failed, however. several checks
which had certified by it and deposited In other
banks we're returned through the 10 the
depositors who we're obliged TO bear the loss 1t is to
settle this important matter that the Stock Exchange
desires TO confer with the CleIring-hou
THE DEFAULrER IN COURT.
FL Taintor in charge OF Deputy United States Mar
ha Crowley was brought before Commissioner Osborn,
Yesterday his counsel Mr. Sherwood, asked for an
adjournment Of week that he might determine what
course to pursue.
Assistant United states Dl5tIlCtAtIOlHos u~uJ 9"AN
that though the Grand Jury lad ordered an indictment
against Tantor had been drawn for want Of time
that the prisoner demanded it, he entitled TO an
examination before the Commissioner and That he had
no objection TO the proposed adjournment which was
granted.
II the Commissioner should discharge Taintor ne
would be Immediately arrested tho Indictment and
the law Furnishes the crime alleged to have been com
mtted by him with less than five nor more than Ten
vearst imuri sonment, and fine OF $4,000.
THE CONTINENTAL BANK ALL RIGHT.
The Clearing house examination into the affairs OF the
Continental Bank on Nassaust., the result or when
was announced in yesterdays TRIBUNE has elected the
following: Discounts OF good mercantile paper agge
gate slOOOOO; call loans, s7OOOOoi amount OF legal
tenders and gold &JO,OOO and net deposits, N7oOOOo
The Committee after appraisng the assets at their o"
est value reiterae the declaration that the capital was
impaired not quite per cent and also express their con
adence in the manner in which the affairs Of the bank
were conducted
or A DIRECTORS PROPkRrr.
sale Of the property Walter Roche took place yes
terday for the benefit OF the Guardian Savings Bank
The whole the property advertised was not solo, tue
trustees deemng the prices realized not sufficiently
bh The house ana lot No. - Mulberryst we're s0d 10
LANES McKane 800 Front and rear houses 20 ~
Baxter-st sOd 10 George walsh Tor s51 ho ~
ana lot No. "A MOttst were sold 20 George :. hai' ii
$4,000
TROUBLE BETWEEN THE PENNSYLVANIA AND