New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-09
| MR. sPRAGUE,s SUCCESSOR.


HE WILL INSIST UPON A THOROUGH EXAMINATION
OF TIKI TRUST CoMPANYs AFFAIRs-PUBuc
FUNDS NOT TO RI UsRD TO PROP UP BANKS.
A TRIBUNE reporter called last night upon
Mr. Cunningham who in reply TO questions, said that
he appointed the position Of City Treasurer he
should consider IL his duty 70 satisfy himself that the
Brooklyn Trust Company was proper INSTITUTION IN
which deposit the funds Of the city and to that end
should insist upon having detailed statement as to the
condition OF the assets and liabilities According to the
OF the Charter the Commissioners OF the
Sinking Fund are authorized the banks in which
the city shall be deposited but ne did not know
whether he was of the Commissioners or not. 1t
stated that until jan l. 1865 the COMMISSIONERS should
include the Mayor the Controller and the present City
Treasurer but after that time the Auditor should be
substituted for the City Treasurer 1t was doubtful
whether Mr. spragues he would be one OF
the Commissioners OF the Sinking Fund. II he
was he should object TO having the funds placed
in any bank that could not show clearly that
it was perfectly solvent He said that he had made no
pledges TO the Mayor else in regard to what
he would do. He should act in the interest OF the city
He opposed to the principle OF making the city
treasury tender to tho banks and thought that 1t
should hold aud control its funds independently Of
all banking institutions. He did not not know
that he to be nominated for the oihce
until the Mayor sent him telegram
Saturday asking him whether he would accept the
It, and yesterday he told the Mayor what he mas con
cuded In regard TO the past operations OF the
Trust Company, he thought that Judge McCue
and the other directors had been betrayed bY
Rodman and they had not given the affairs
OF the concern that attention which 1t needed
He thought the present President, Mr. Ropes con-
scentious ana able His experience as the Pres
directors cannot always know of the Irregularities OF
subordnates He thought that the past management Of
the Trust Company had been very bad. II had been
perverted from trust company to bank OF deposit
He had disposition 10 glory over any II
regularltics or thefts and would Insist so far
as ne could cOutro matters. upon having thorough
examination made into the affairs OF every INSTITUTION
in which the city funds were deposited. He thought
the other members OF the Commissioners OF the
Sinking Fund would favor an investigation. lie sald
that II confirmed by the Common Council tonight he
would do all he could further the interests Of the city
by Insisting that the condition OF the trust Company
should be fully made known
Andrew Cunningham Is a Hour merchant DONG
business in this city. He is well known 70 the
peope Of Brooklyn. In 1856 he elected as Demo
cratic Alderman from the Fifteenth Ward and continued
10 serve the Board. and acted Chairman OF the
Finance Committee until his successor, Alderman
MACPHERSON, also Democrat and the pres
ent incumbent OF the Aidermanshlp OF the
Fifteenth Ward, was elected in 1872. Last Fail ne
was nominated by the Democrats for the office OF sher-
if and was defeated by the regular Republican noun
inee Last Summer, when the Mayor, Controller, ana
Andrew Cunningham nominated by Mr.. Powell Tor
the vacancy Police Commission hut the MAJORITY
the appointing power selected Mr. Jensen the pres
emf Police Commissioner. II il stated that MI Cunning
ham though an old politician and strong partisan,
when Chairman OF the Finance Committee OF the Board
of Aldermen voted steadily his political friends
upon questions involving the eAtrayagant expenditures
o