The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-01-09
TIE NATION TRUST COMPANY.
Startling Statements Of the Absorbing
Pittsburg Cashier Directors and Others
Owing the Bank Large 0verarafts,
Covered by False Entries.
PIrTsuURG. Jan. & ls7l,

PIfTsHURa, Jan. q Is74.
The fight OF Robert J.iGrier, cashier of the Ma
ton Trust Company, = few weeks ago, and the
suspension OF that Institution In consequence,
with q million collars liabilities, hall million
OF which was In the shape Of water bonds belong
ing to the city Of Pttsburg, at the time fully
detailed in the columns OF the HERALD. reward
OF 5000 has been offered by the depositors OF the
Nation Trust Company for the apprehension of
Grer. but he has thus lar managed to elude arrest,
though correspondence was received from him
yesterday here, bearing no date or mark to indi-
cate his present place OF residence.
TIE STARTLING FINANCIAL EXPOSURE.
He makes some interesting revelations regard
ing the internal workings of the institution over
which he presided, and denies IN toto the state
ments published recently by some of the directors
and heavy depositOrs over their own signatures,
stating that their accounts with the bank were not
overdrawn. He says:-T understand william
Bracket denies that he had paper in the Nation
Trust Company. endorsed by him: which is not SO,
as he never lifted the notes OF John Ramsey, Of
New York city. Furthermore, william Smiths ac-
count has been Overdrawn for over two years ;
sometimes as high as $4,000, which the bank
bookKeeper will vOuch for at any tlme have
loaned him notes 70 have discounted outside, the
proceeds OF which were placed to his credit, SO
that his Overdrafts would not be noticed. There
were also checks held back and not posted. You
will find checks in the safe on other banks that
were not paid. They were lifted by US
and not charged to HIM at the time
OF suspension. To the best OF my
knowledge there is lot OF notes, which
lent to II. Long, that were not charged to Smith.
Among them $40, 600 belonging to the Consolidated
Gas Company, and lot of Iron paper. MIR. Long
has an account OF all or these notes, and will give
1t to you without tear or iavor, as he is gentle
man.
LOST MANY sLEEPLEss NIGHTS
on account OF Smiths overdraits, ana told him
he continued to cneck away, notwithstanding my
protest. l also paid $1l, 900 for the use OF an
sss San o as sns
other notes that l cannot think Of at
am nno aTy 10 ns Have this
account thoroughly examined, as ! changed a
great many cheeks with Long for the benefit OF
Smith: TO the best OF my knowledge he owes
Frank Ardary, who also denied that he owed the
G5eer Is n
will find in an old ledger. 1t was
OvERDRAwN ALL THE TIME.
The old bookkeeper in the employ of the
Mcdonald Trust Company Is the only one that can
settle this account, as the book has never been
directors were always overdrawn, as their ac-
counts will show
and s see TO he had no
one and one-hali years. So he needn't be so hard
on me.
WHERE THE MONEY WENT.
gave the New York Cleveland Coal Company
$4,000 in bills receivable, and the German Ma
tiona about s1OO OO to square the former account,
and memorandum which the German held at the
time OF our trouble; so, with notes, It will help 1t
very much. Also the Iron City National Bank
holds over $4,000 more, as collateral for some OF
the checks lifted at the time Of our trouble.
| Messrs. Butch Dickson OF Indianapolis, owe
! the bank some $1,000.
| WHO MOSTLY USED THE BANK.
The firms that used the banks money mostly,
| getting the most discounts, were Smith, Ardary,
| Dickson, Stewart Co. Dickson, Marshall d Co.,
and M. OHara, who got into the bank by over.
checking You will tnd a judgment OF $4,000 en-
| tered against him.
SECURITIES USED TO KEEP THE BANK AFLOAT.
| John DOyle's 900 bond l used, along with one
OF my own to raise "mOney," $4,000, on my note
thf Ough one Of the tight days lor the bank also
SO. 600 in Park bonds, belonging to LADY IN Ale
| gheDy.
AN UGLY ACCOUNT.
AS any OF the banks we cleared through can tell
you, Smiths overdrafts have been as high as
$35, 600 day, which 1t is no wonder we were al
ways hard up.
The bank never had over $3.50 200 bills receivable,
as the statement will show. Please give this your
attention. You Will find it in the weekly state
ment book; so you have $50 900 more in bills re-
ceivabe than you thought Of