Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-07-22
NEW YORK.
Takins Tine by the Foreioos.

Taking TiEme by the FOrelOolk.
New York, July 21.-A rumor Isl cur.
rent this morning to the effect that Jucge
Alexander McCue, the largest s!ockholdeI
of the Brooklyn Trust Company, on whose
application the company was forced to sus-
pend payments, and ec,iver was sp-
pointed, had been, since the death of Presi-
dent Mills, transferring his re Il estate TO bis
wife, Id oder to secure himself from loss
in case the Trust Company proved insol-
vent. The Tribune publishes the fact OF
the transfer In this way of piece of proper
ty valued at ninety thousand dollars.
A Fiat Denial.
New YoRs, July 22.-Judge McCue, OF
BROOKLYN publishes card In which be de-
MES that the real estate transfer to his wife
had snything to do with the suspension of
the Brooklyn Trust Company, IS It dates
back to May l.
The BROOKLYN Trust Company.
The following are the latest facts and ru-
mors as to the afairs OF the Brooklyn Trus-
Company; the capital stock of the company
was $5O0,U00, but this, it 's said has been
all absorbed. There Is 100000 worth Of
what may be cohs,deted worthless loans.
The dsfaicasion CT Liills iTbetween $3.50, 600,
and 100000 and Rodmans loans are S34,
600, so the prospect Of depositors realizing
any hing for some time is not considered
encouraging. Last Saturday Mills stated TO
his son he felt worriei about his sccount in
the Trust Company that it was overdrawD.
His son said to hir "Father you had better
attend to that at oncei something might
happen to YOU" He replied, 'Ill look IL
to it right away" and accordingly
made arrangements with capitalist, rel
alive, for a loan to cover the account with
the Trust Company, which was to have
been neg ,tiaed the Tuesday Of his death.
1t Is stated that three months since Mr..
Low resigned the Vice-Presidency on the
score of Ill health. A few weeks since it
was suggested By Messrs. Chsuncey, Rock
we'll and others that it world be we'll to in
vestieate the affairs OF the company In or
der that some decision might be made as TO
the Georgia and railroad bonds and their
true value ascertsined. Mills objected, and
tried to postpone investigation, al
though at the time no defalcation
on Bis part was suspected. In this
objection he was supported by RodmaD,
secretary. There appears to have been oc-
casional discussions among the directors,
and the minority called by Mills and BOD
man, the mechanics bank gang. Monday
last, the day before his death, the former
the investigation to Be postponed.
The Secretary admitted Mills account over
drawn, tut said $4,000 would cover the
defaIcation He said when tie Irregular
ties commenced, he demonstrated with
Mills, who replied invariably, lie did not
want to hear anything about it. The con-
pany has s.so loaned further sums Of money
on doubtful securities, but amount by no
means so large as the Georgia bonds or the
Connecticut railroad loans. the opinion is
pretty generally entertained that Rodman
will be removed from Office as Secretary
Of the Trust Company, as well as from the
deputy city Treasury hip. Some go further
aud say he ought to be punished as a Grim
iral for permitting the city TO deposit weekly
with this Company, from 1000 to 5000 dol
lars. or course the Chief City Treasurer,
Sprague, and mis- surities, were responsible
t the city for the safe keeping Of the
money.
A New Railroad Line.
1t Is stated that the Erie Railroad Com
psny proposes to build trunk line from
Port JerVis TO New 7 ork, thus shortening
the dist'nce twenty-eight miles, and time
Of travel seventy-fiVe minutes. 1t is pro-
posed to use the new route for through
freight and passengers, retaining the old
line for way passengers, freight, coal, etc.