New-York tribune., 1873-07-23
4 RUINED TRUST COMPANY.
WILL OF THE LATE MR.. MILLS.

BANK-A MEETING OF DIRECTORS CALLED.
The affairs of the Brooklyn Trust Company
arc still the subject OF much comment in local circles
The work Of balancing tho books Of the Company and
determining the proportion OF assets and liabilities
still on, but conclusion in regard to these
points has yet been reached. What the officers
OF 1.-THE bank will do is yet undecided question, to
which satisfactory answer will be given until the
meeting OF the directors which is TO be held as soon as
quorum is obtained There Is rising feeling OF ndg-
nation among the people agnt ROdman, the secretary
whose action In not calling the attention OF Mr. Mills TO
the enormity OF his oiense in using the funds OF the
Company 70; his private specuations Is bitterly com
mened on. Men connected with other banking institu-
tons say that Mr. RDdman, III neglecting TO act as
check on the actions Of Mr.. Mills struck blow at
the security reposed in such In substantaon
Of this was mentioned that the circulation OF the
news Of the real state OF affairs at the Trust Company
on Saturday caused quite run on money OF the
Brooklyn banks The directory have not yet taken ac-
ton on the case of Rodnan, who has, however, been
suspended from the position Of deputy treasurer which
he occupied.
The attorney and counsellor OF the Willmantc Rail-
road Company waited upon the officials Of tho Trust
Company yesterday for the purpose of making expa-
nations relative to the value of the bonds which the
bank advanced the sum Of $4,000. He assured the
Trust Company that there securities superior to
the bonds the Willimantic Railroad Company, and
he very certain that in accepting them nothing was
done TO impair the standing OF the Trust Company,
he claimed they worth every cent they repre-
sented.
Mr. Ms's will was yesterday, led at the surrogates
office, and the necessary steps taken to have admitted
probate 1t thought unlikely that any opposition
will be made. The Will is "a follows:
THE WILL MILLS
l. Elholbert s. Mills OF the city of Brooklyn County OF
Kings, and State OF New-York, DO declare the
give devise, and bequeath all my propcty and estate
both rea and personal to my beloved wlfe Ellen H. NILS
TO her and heirs and assigns forever hereby ap
point my said wife executrix, and my son Thomas
H. Mills, my brother James NJ. Mills and 10y Dr0therIn
law Edward H. r. Lyman, executors, and nereOy % au
Of them who may qualify as executriX or eXecu
to 10 sell ana convey or az OL my ndS IeSI cre "'
In witness thereof have hereunto set my hand and
seal this lith iay OF june 1873. ETHELBERr s. MILLS.
Signed, sealed published, and delivered by tue said
presence who in lis presence and AT his request and
the presence other hereuno subscribed our
NJ i. RoDMtS, s75 Union-st., Brooklyn.
L. L. LOMBARD, 1861 Dean-st., Brooklyn.
In the application for letters testamentary made by
Thomas H. Mills eldest of the deceased, the estate
is put down as being about 100000 in value. Citation
issued the Surrogate calling for the appearance
before him Of the parties interested on the 5lst nst OF
10 a. IN.
Some OF the depositors called yesterday the Office OF
the Trust Company for the purpose Of having their
books compared with the ledger accounts. They ex-
pressed then selves as confident in the desire aud ability
OF those at p esent in charge TO make good any deh
cheney rm OF real estate also yesterday offered
s250OO unincumbered property In exchange for
deposits the Trust Company. petition in bankruptcy
against he Company filed on Saturday last by
John j. Allen depositor to the amount OF s4OO but lt
may not be enforced for some time Public confidence
in the business aud other qualifications OF the Board OF
Direc nrs sheen much shaken by the develop
meE of the past days and IA case the institution
should reopen, new set OF directors ana OH
cers will have to be appointed. Many. how
ever express the opinion that the Company
will wind up its affairs as soon as practicable
Mr. Fowler denies the truth OF the runOr charging him
with having sold to Mr.. Mills the worthless Georgia Sc
curtes The officers Of the Bridge Company also deny
that they are indebted 70 the Trust Company for any
overraft The revelation regard to the way In which
the affairs Of the Trust Company were managed called
the attention OF the custodans Of the cys funds to the
security Of their deposits in the various banks.
Deputy Controller Rich, few days since addressed
note TO the various banks having funds OF the city on
deposit requesting them TO furnish him statement OF
their respective capitals for the benefit OF the COmmls
soners Of the Sinking Fdnd Notice Will DO given TO de-
positors to call at the office OF the Company with their
bankbooks in order that the entries in the latter may
be compared with the entries the Companys ledger
The managers hope in this way discover any dscrep
aneies.
ALLEGED nLEGALITY IN THE APPOINTMENT OF RE
CEIyER.
reading OF the law would indicate that the manner
Of the appointment OF the present Receiver OF the Brook
yn Trust Company was done in disregard OF the law on
the subject which requires that an application Tor the
appointment OF a receiver shall be made 10 Judge OF
the Supreme Court and the appointment shall be made
not less than eight days after such application The fol
lowing is the law on the subject:
Chan. ISL OF the Laws OF 1870.
SECTION An injunction 10 suspend tho eeneral anu
u
citation, or 10 suspend from ONCE any dfector trustee,
or manager OF corporation or joint-stock
association, or to restrain or prohibit any di-
rector, trustee, or manager OF eoTpoIalon
or JOINT stock association from the performance
OF bis duties as SUCH shall not be granted, except by
the court and upon notice OF at least elght DAYS Oh te
ton or the director trustee or manager to be enOined
restraned and injunction granted for any OF the
III this section prescribed, shall be VOID.
SEC q No officer director OF CORPORATION shail ne
suspended or removed from office, otherwise than by
the Judgment OF the Supreme Court IN cyll action IN
the prescribed by the Revised Statutes ana al
actions and proceedings against corporation wnen tue
relief sought which can be granted therel shd NC
the dissolution OF such corporation or tne removal % G OK
suspension OF any officer or director tnereol sna o
brought by the AttOrneyGeneral In the name oi tue
people OF the 5 ate .,- -
SIC receiver OF the property OF corporation can
be appointed only by the Supreme Court In cyl ac-
ton aud Of tho following cases, upon at least
proper officers OF such corporation:
a. In civil action brought by Judgment creditor OF
the corporation, or his representatives aier eAeehoh
has been issued upon such Judgment ana returned u-
satisfied IN whole In part.
a. In civil action brought by creditor OF the cor
poration for the foreclosure OF mortgage upon the
property over which the receiver Is appointed ana
when the mortgage debt or interest thereon mas re-
mained unpaid at least 80 days after IL became que ana
duly demanded from the proper olcers OF tne cor
porat0n aud when either the income OF sueh property
Is specifically mortgaged, or the properly llsSli ID III
sufficient 10 pay the amount Of the mortgage deDt'
81 In civil action brought by the Attorney y-denera
for the dissolution OF the corporation when IL appears
the court that such dissolution ought 70 De audged
a. In civil action brought by the Attorney eyGeneral
by the stockholders to the assets OF cofpo
ration having officer empowered TO hold the same.
SEC. L. Any director other ofncer or lolntstOck
upon whom shall served any notice of an
application for injunction restraining or anecung
the business Of such corporation or JOhtstOck