Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-07-22
THE LAST STEAL.
Further Particulars In Regard TO the
Brooklyn Trust Fund Company
DefalcatiOns.
The Suicided President the Scape-GOat
The Living Secretary Making
a Hole 10 Crawl Out.
No Chance for Dispositions Yet Awhile
The Capital GObbled Long Since
Brooklyn City Funds.

Brooklyn City Funds.
ANOTHER DIRECTOR STANDING FROM
UNDER.
NEW YORK, July 2I.-A rumor is
current this morning to the effect that
Judge Alexander McCue, the largest
stockholder of the Brooklyn trust com
pany, on whose application the company
was forced to suspend payments and q
receiver appointed, had been, since the
death of President Mills, transferring
his real estate to his wife, in order to Sc
cure himself from loss in case the trust
company proved lnsOlvent. The Tribune
publishes the fact of transfer ia this
way of piece of property valued at
ninety thousand dollars.
JUDGE M'CUE PUBLISHES a CARD
denying that the real estate transfer to
his wife had anything whatever to do
with the suspensian of TIE Brooklyn
trust company, as it is dated back to
May 1st. The judge says he does not
| believe there will be total loss of the
| capital, much less any loss to the depcs-
! itors. The secretary, NJ. It. ROdman.
| says, as to some reports concerning him
self, that he borrowed thirty thousand
dollars from the company, for which he
deposited as security Connecticut town
bonds, ofnominal value, to the amount
of forty thousand dollars, which is
quoted in Wall street at seventy to
eighty cents,s that the company would
not lose by the transaction. That the
name of Thomas II. Rodman has been
connected with Secretary Shippe, is
wholly mistake. The following are
THE LATEST FACTS AND FIGURES.
AS to the affairs Of the Brooklyn trust
company, the capital stock of the COM
pany was five hundred thousand dollars,
but this, it is said, has been all absorbed.
| There is thirty thousand dollars worth Of
what may be considered worthless loans.
The defalcation Of Mills is between q
hundred and fifty and two hundred
| thousand dollars, and ROdman's loans
are thirty-fOur thousand dollars, so the
prospect of depOsitors realizing anything
for some time
Is NOT CONSIDERED VERY ENCoUR-
AGING.
Last Friday or Saturday Mills stated
to his son that he felt worried about his
account In the trust company; that it
was overdrawn. His son said to him,
"Father, you had better attend to that
at once, something might happen TO
you" He replied, "I'll look into it
right away" and he accordingly made
arrangements with capitalist, rela-
tive, for loan to cover his account with
the trust company, which was to have
been negotiated on Tuesday, the day of
his death. 1t is stated that three months
since, Mr.. Lowe resigned the vice-presi-
dency, on the score of ill-health. -Four
weeks since it was suggested by Messrs.
Chauncey, Rockwell and others that
1T WOULD BE WELL To INVESTIGATE
the affairs Of the company, in order that
some decision might be made as to the
Georgia railroad bonds, and their true
value ascertained. Mills objected, aud |
tried to postpone the investigation, al |
though at this time no defalcation on |
his part was suspected. In this objec- |
ton he was supported by Rodman, the |
secretary. There appears to have been |
occasional dissensions among the direc- |
tors, and the minority were called by
Mills and Rodman
THE MECHANICS-BANKG GANG.n
On Monday last, the day before his death, |
the former requested to have the inves- |
tigation postponed. Rodman says that |
he (the president) expected to receive |
thiTty-four thousand dollars on the fol- |
lowing day, and the directors are of the |
opinion that on Monday he found that
he would be disappointed. When it was
discovered that Irregularities existed, the |
secretary admitted that Mills's account |
was overdraWn, but said that seventy
five thousand dollars would cover the |
defalcation. He said when the irregu- |
larities commenced he demonstrated |
with Mills, who replied invariably that /
he did not want to hear anything about
it, as il
''WCyLD BE ALL RIGHT BEFORE long,
The company has also loaned further |
sums Of money on doubtful securities, |
but the amount is by no means so large /
as either the Georgia bonds or Connect |
cut railroad loans. The opinion is pretty |
generally entertained that RoGman will |
be removed from his Office as secretary |
of the trust company, as well as from |
the deputy city treasureTship. Some go |
further, and say he ought to be punished |
as a criminal for permitting the city to |
deposit weekly with the company from |
four to five hundred thousand dollars. |
Of course, his chief city treasurer,
Sprague, and his sureties were RESPONSE
bic to the city for the safe keeping Of
the money.
THE SUICIDE THEORY.
AS against the theory of suicide, the
real-estate agents of the deceased say
that one hour before he left for Coney
Island, Mills agreed to a contract to fin
ish some houses which had come into his
possession by the failure OF their builder
to repay the money advanced; that
Mills was certainly as cheerful and as
genial as ever. 1t seemed that they
all the real-estate business
for him, and say that from this source
MT. Mills's income was forty-four thou
sand dollars per annum. The value Ofl
his real-estate is put at four hundred and
thousand dollars, including
mortgages sggregating one hundred ana
thirty-siX thousand dollars. Secretary
said to-day that various New
York firms hold the Georgia bonds, and
that the Broadway bank holds three
hundred thousand of them. He believes
that the company will pay every dollar
The stockholders for cent. The assets
are reasonably good, though some of the
securities are slow. The amount of the
Brooklyn city funds on deposit with the
rust company was five hundred and
thousand eight hundred and
.hree dollars.
MORE SUFFERERS.
There is a rumor in circulation In
Brooklyn tonight that the East river
bridge company is among the list of
sufferers by the defalcation Of Mills and
,he Suspension of the trust company.
The bridge company declare that at one
-ime they had large deposits in the
Brooklyn trust company. The funds of
he bridge company had recently
'un out, and the said company had
,verdrawn its account with the Brook
yn trust company to the amount of thir-
v thousand dollars. The Tribune, to-
morrow, will publish the following:
The assets of the bank are 50, $50, ,559,
md the liabilities are unknown.
The endorsements were known
1y some of the depOsitors for two
and several Withdrew their ac-
counts due. Upon advice from a stock
holder they drew almost the entire de-
1osit a month ago The stock of the
sonopanv IataIv worth OK aold on Sat-