The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-07-22
The Brooklyn Trust Company En-.
beZZlement.

beZzlement.
NEW YORK, July 21.-A rumor Is cur
rent this morning 10 the effect that Judge
Alex. McCue, the largest stakeholder oI
the Brooklyn Trust Company, on whose
application the company was forced 10
suspend and o receiver appointed, had
been since the death Of President Mills
transferring his real estate TO his wife, in
order to secure himself from loss In case
the Trust Company proved insolvent,
The Tribune publishes the fact Of the
transfer in this way ofa piece Of property
valued at 100000.
NEW YORK, July 2l.-Judge MCCue,
Of Brooklyn, publishes a card denying
that the real estate transfer TO bis vile
had anything whatever 10 do with the
suspension Of the Brooklyn Trust Com
pany, as 1t dates back to May 1st. The
Judge says he does not believe there will
be total loss Of capital, much less any
loss 10 the directors.
The Secretary, NJ. T. Rodmsn, says as
10 some reports concerning himself, that
he borrowed $4,000 from the funds Of the
company, for which he has deposited aS
security Connecticut town bonds Of the
nominal value Of $4,000, which are quo.
ted in Wall street at from IS TO so cents,
so that the company cannot lose by the
transaction. The name Of Thos. Ii. Rod.
man has been connected with the Secre.
taryship OF the company, This is wholly
q mistLke.
LATEST FACTs AND RUAoRs.
The following arc the latest facts and
rumorS as to the affairs oil the Brooklyn
Trust Company: The capital stock of the
company was $500O00, but this has been
all absorbed. There Is $4,000 Of what
may be considered worthless loans. The
deialcation oil Mills Is between $4,000
and 100000, and Rodman's loans are
$34, QUO, so that the prospect Of depositors
realizing anything for some time TO come
ls not considered very encouraging. Fri.
day or Saturday last Mills stated 10 his
son that he felt worried about his account
in the Trust Company, and that il was
Overdrawn. His son then said 10 him
Father, you had better attend to that at
once; something might happen to you"
be replied, "I'll look into 1t right away"
He accordingly made arrangements with
Il capitalist for n loan 10 cover his account
with the Trust Company, which was TO
have been negotiated ON Tuesday, the
day Of his death.
II is stated that three months since Mr..
Low resigned the vice'presidency on the
score Of III health. A few weeks since it
was suggested by Messrs Chauncey,
Rockwell, and others, that it would be
well 10 investigate the affairs Of the com'
pany in order that some decision might
be made Us 10 the Georgia and railroad
bonds, and their true value ascertained.
Mills objected and tried TO postpone the
investigation, although at this time no
delalcation on his part was sus.
pected. In this objection he was
supported by Rodmsn, lie Secretary.
There appears to have been an occasional
disseDsOn among tho directors, and the
were called by Mills and Rod
man the Mechanics Bank gang. On
Monday last, the day before his death,
the former requested that the investigation
be postponed. Rodman says he, the
President, expected TO receive $S4 900 on
the following day, and the directors arc oil
opinion that he found he would be
When it was discovered
that the Irregularities existed, the ScCre.
tary admitted that Mills account was
OvcrdEawn, but said that $75 1000 would
cover the delalcation. he said when the
commenced he remonstra-
ted with Mills, who replied invariably that
he did not want to hear anything about il
as 1t would be all right before long. The
company loaned further sums oi money
On doubtful securities, but the amount is
by no means so large as either the LOuisi-
ana bonds or Connecticut railroad loans.
The opinion Is pretty generally entertain
ed that ROdman will be removed from his
office as Secretary Of the Trust Company,
as well as from the Deputy City Treasu-
rership. Some go further and say he
ought 10 be punished as criminal for
the city TO deposit weekly With
o company from four 10 five hundred
thousand dollars. or course his chief,
City Treasurer Sprag1e, and his seCuri-
ties arc responsible to tho city for tho safe
keeping Of the money.
AS against the theory Of suicide the
Iehl GSIAl6 hRGutS VI lu6 uGCehSeu Say IuhL
one hour before he left for Coney Island
Mills agreed to contract 10 finish houses
which had come into his possession by
the failure OF their builder 10 repay the
money advanced; that Mills was certain.
ly as cheerful and as genial Ss ho ever
seemed. They transacted all bis real
estate business Tor him, and say that from
this source Mr.. Mills income was $44,-
900 per annum and lis value $478,0O0,
including mortgages aggrcgRIing $780,
900. Secretary Kodmsn said, today, that
the various eminent New York firms
hold the Georgia bonds, and that the
Broadway banks holds $500, 900 Of them.
lie believes that the company will pay
every dollar 1t owed TO dCpositors, with.
out calling on the stockholders for cent.
The assets we're reasonably good, though
some OF the securities were slow. The
amount Of Brooklyn city funds on deposit
with the Trust company was $505, ,SO3.