The New York herald., 1873-09-23
THE BROOKLYN TRUST COMPANY.
The Question Of Withdrawing the City Funds
The Institution Under Discussion in the
Board Of Aldermen-An Exciting
Debate Resolutions Of Conf
dence in the Stability
Of the Company.

The introduction OF the following preamble and
resolution in the Brooklyn Board OF Aldermen
by Alderman Wylie, last evening in regard to
withdrawing the city funds from the Trust Com
pany, created quite an exctement:-
Whereas utmost Importance that the city of
Brooklyns funds should be placed in banks and nstitu
tons beyond the conception Of doubt as to their sta
the funds Of the city Of Brooklyn in possession
Brooklyn & rust Company has not the conSdenes Of the
entire public beng evident that they on the verge
Resolved That the CIV reasrer and all other officers
@ @
company and be placed in such banks or institutions
and IN with law in relation thereto and fe
port this Common Council the amount OF such funds
have been placed.
Alderman WYLIE thought the City Treasurer
might not like to take upon himself the RESPONSE
biity Of suggesting this measure, and he believed
1t would be better to emanate from this Board. In
o conversation with some legal gentlemen, who
appeared to have some knowledge OF the affairs OF
the city OF Brooklyn, he was informed that law
suit would be entered into against the company
before many days, and under these trying times
It was better to have the city the safe side.
What they had they had better take care Of and,
therefore, he moved the adoption OF the resolu-
ton.
Alderman RICHARDSON said he ought not to be
surprised at anything emanating from the source
which this resolution emanated from, but he was
really surprised at resolutions Of this character
being offered In the Board, These resolutions were
calculated, at this time, when man did not know
whether he owned any property or nOt to do q
great deal OF injury. Since Mr.. Ropes had been
chosen President Of the Trust Company there had
been an entire change in its management, and con-
ndence had been restored. He was glad to have this
opportunity to say that he believed there was not
q member OF the Board or In the community but
had entire confidence In the honesty and integrity
OF Mr.. Ropes. Accountants had been employed TO
make an examination OF the books OF the company,
and they reported that 1t was perfectly safe to de-
poslt the city funds there There was not an insti
tuition in the city which had the confidence OF the
pany had. While other institutions had
been run on the people who had money
that those who had money there had no sympathy
with Alderman Wyie. He thought the gentleman
should be censured srs or oeTnS the
that effect. The resolutions were as foliows:-
That Charles q. csnc, Ty of the
the seyeres censure Of this Board and do
Resolved That this Board does hereby express in the
the most emphatic manner the fullest CONFIDENCE IN the
abated confidence In It's under its present
President and Board Of Trustees
da Se Sy H. ne G c
this city.
Alderman RoDxAN said the assertion that the
Trust Company was not sound was villaincus, and
prised that the Alderman OF the Seventh should
throw such hrebrand into the Board. He then
spoke OF the dastardy attacks which had been
made upon Mr.. Ropes and the Trust Com
ppers lie aSnorred the Infamous conduct
OF those men who attacked the Institutions
OF this city. They were not capable Of knowing
the difference between honor and inlamy He was
sorry that Alderman Wylie was allowing himself
to be used for such an Infamous purpose. This
thing was aimed not only at the Trust Company,
but at Mr.. Ropes, Its President.
Alderman WYIIE-lt Is false.
Alderman RODMAN-I Will take that from whence
1t came. But they can keep on. They might as
wen ann their shot at the towers OF the Bridge
Company, with an expectation OF seeing them go
through, as to expect to injure this company.
Alderman TAYLOR also condemned the resolu-
tons OF Alderman Wylie, and expressed his sur
prise that they should have been offered. There
must have been, he said malignant, demon-like
incentive in his heart. He also referred to the
papers in New York.
Alderman WYLIE then spoke In his own defence,
saying that he had no personal motive IN Offering
the resolution that he did IL in the interest Of the
city.
Alderman ROPES said that when the Alderman
OF the Seventh said no member had more respect
for him than he did he could not believe him, or
his act did not correspond with the assertion. III
he had SO much respect and confidence In him why
could he not have exchanged a lew words with
him upon this matter before bringing 1t before the
Boardf lie considered this personal matter He
Tor nearly two years, and during that time
whose OK had he taken, whose ass had he takenf
From WnOm nau ne taken q DrlDe 10 pima MS eyeSY
lie made no pretensions to integrity. All he would
do would be To point to MS record.
Alderman WYLIE Gnterruptng) Alderman
OF the Third said the company was rotten.
Alderman ROPEs-Mr. President, deny IL.
Alderman WYLIE texcnedly)-Rotten 10 the core.
Alderman RoPEs-l deny II before God.
Alderman ROPES then proceeded to state his
course In the Board while M. T. Rodman held the
dual position OF Deputy City Treasurer and Secre-
Ropes) went into the Trust Company he was not
there sixty minutes before he turned to the ac-
counts OF the City Treasurer, for he was satisfied
that there was something wrong. When he re-
ferred to the stockholders making good the capital
stock of the company, OF the lying reports In some
to- to- net Sp psnc ass Saturday % the
trustees came to him and put 100000 In his
hands, and since then they had put $500, 900 cash
In the company, and there was no human agency
which could break the company. He finally closed
by requesting the withdrawal OF the resolution to
After some Iurther discussion the resolution OF
censure was Withdrawn. The other resolution ex-
pressve Of confidence In the company was adopted.
The resolutions OF Alderman Wye were not en-
tertained, not having been seconded.
communication was received from the Board
OF City Works asking for the adoption of resou-
tion authorizing them to enter INTO contract with
Richard COrwn for dredging the slip at the loot or
Fulton street and building dock there The re-
quest was granted. The Board ol City Works also
requested that the Corporation Counsel be In
structed to prosecute the suretes Of James
build dock at the foot OF Fulton street for ST. s22
and who failed to nf his contract. A resolution
to this eject was adopted,
The question Of repaving and widening OF First
street, eastern district, with block stone pave
ment was referred to the Paving Committee.
Judge Moore sent In o communica ti0n stating
that hIs court room In the basement OF the City
Hall was not suitable for court and that 1t had
been declared by the Board OF Health as unhealthy.
He asked that suitable place be provided. The
matter was referred TO the Committee on Lands
and Places
The Committee on Opening Streets submitted q
report Iavor OF fixing the district OF assessme mt
for the opening OF Park and between Clinton and
Broadway at half block on each side OF the ave.
nue..
Alderman wyLrB objected to this assessment,
claiming that the people In this section had sl.
ready been too heavily taxed for improvements
committee.
The motion yas lost and the report was adopted