New-York tribune., 1873-01-31
RANK PRESIDENT ARRESTED.
n DAMN IAESlDl@Ni |ih''
SERIOUS CHARGES AGAINST THE OFFICERS of
THE MARKET SAVINGS BANK

THE MARKET SAVINGS BANK
At @ D. m. Yesterday Wm. Van Name fOr-
merv President OF the Market Savings Bank, was Or
rested by order Of Arrest Clerk Judson JARVIS, anu
locked up for the night in Ludlow-st JAN ahe oroe' Va
arrest was issued by Justice George C. Barrett In SUIT
bronoht in the Supreme Court by Francis W. Worth,
assignee In bankruptcy OF the Market Savings BANK
against Matthew p. Bemus, VIM. Van Name ana hehy
r. Conkn 1t is understood that this is the beginning
OF series OF actions to be brought against TIE oncers VI
the bank The order issued on an affidavit Oh Henry
R. Conklin signed by him in Montreal, Canada, and
sworn to before the United States Consul at that place
Conkhns affidavit is substantially as follows:
Prior TO jan l. 1872, was Secretary OF the Market
Savings Bank; knew Bemus and Van Name; Bsmus,
Van Name and were were accustomed 10 speculate III
stocks In the City of NewYork, using the money ana
property the bank for margins, TO pay osses &c
we took the money Of the bank about as follows: BE-
tween the 1st and goth Of July, 1862 we took about
in cash and converted the to own use,
and speculaed In NewYork Central and Hudson River
Railroad socks this money iDtrusted to the care
of Van Name and myself as President and secretary Oh
the bank; the following is the manner In which inc
money was taken: Van Name as President ana as
Secretary of the bank drew checks which were
charged as call loans OF Clapp q Grinneli'
who acted as our brokers, and as such gave
their notes; during the following year the account
was reduced to about sec by payments made by Van
Name and Bemus and before January, 1872, to about
s7OOO the money so taken used by without the
authority or knowledge Of directors and never
returned by u.s. we three Jointly interested though
the business was carried on in the name OF Bemus q
Van Name.
The order OF arrest placed in the hands OF Mr.
Jarvis on Wednesday noon, by Mann Parsons, plain
tifrs attorneys, and he at placed man ON van
Names track. Mr.. Jarvis unable 10 ind him. now
ever in his usual place OF business and hearing last
evening that the order Of arrest had been made public
and that Van Name preparing TO leave town, the
officer arrested him at his house.
The Depositors Committee OF the Market Savings
Bank will to-day 10 complete report OF their IN
vesgations the action taken by them in connec-
ton with the settlement OF the affairs OF the bank
preliminary report has been made by subcommittee
upon the sales Of certain securities included in the assets
Of the bank and upon the disbursements OF the receiver
The report the Committee will ndOrse the action OF
the receiver is believed to have acted for the best
interests Of the depostors. Statements will
be made concerning the conduct OF the late bank
officials and Of the transactions OF various persons
with the defaulting secretary. claim for $4,000
against Heisers Sons, whO 1t is alleged obtained that
amount call loan through the secretary, Conklin,
and for which they furnished securities, has been
compromised after consultation with the Committee
and some Of heavier depositors. This compromise
has been sanctioned by order Of the United States
Court and the amount realized therefrOm is $4,000
With the so per cent dividend already paid and another
Of 10 per about to be declared, 1t Is doubtful tho
depOsItOrs will ever realize than 40 per cent