New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-04-26
LOCAL MISCELLANY.
now A SAVINGS BANK WAS swINDLED.

now 4 SAVINGS BANK WAS SWINDLED.
A., o,r,rp. TAXI, 1:E BANKS MONEY FOR sPECU-
1ArioS oN r;roRNA1IoN fUENlsHhp BY AN
A~ssNpLYdAN.
Tho s9it Of John II. Plat. receiver OF the
N.r.ei Slviugs Bank, a.a1I Matthew h-mus anu
Wtiiaun Van Name brought to ual yesterday Mi'
YIN Nainc was Ire President Of The Market savings
Bank IT, r Cop&iuZ, tlo secretary Of the bin"' was
d,fe,,datf but his death hbs Withdrawn Inn from the
s,i. TIE cnaI.e of the plaintiff is that IN 1863 Inc
defendants took from tie bank rl0O'uo) WIN W"ch 10
speculate IN siOak, margin. AID !dilrI 10 "'"'" Oh
account for ST )Oo the interest now swelling Tue
amount 10 about $4,000.
Tie living defendants. by thtir counsel, throw
al the blame Oh Co.kibs, who is dead. The
story told by their counsel Is iiat Bemus
then IN the Legislature, nd IN the Spring oil
1eGo N arranl cement with gentleman IN New-Jersev
now dead by winch Le Supplied tie " points ana ms
friend c money. ami they siocuia"i IN New-lorA Cen
tra anu Hudson River 4.,iIO-d STOCK CohA!hS came
t. emrs and suggested tua he had persons WHO c'uu
fur ISL money 80 operate lager scale on ms AMOR
nation aud leuus finally consented 10 transfer his III
formation 10 Cousling Tie person for whom nc was
acting required that the Transactions be made al 'he
name of Van ane and Btmas, uHc Nr Bc1us acct'el
after some hesitation, 10 thai some tra'acons We're
entered upOn and a proGi nabe. la July, leoJ
Mr. Bemus had information that the STOCK oil lHe
Ncw.Yoik Central would surely rise, and IN arrange
ent was made that 900 shares OF the stock shoald ne
bought On July Mr.. Conk ll2 went WIN hif. bthSI'
10 Nc b.ahrrs and gave order vg l,J'O >Ed! "e
hosting g uXrsn 81 - Per cent On Jdl j." WI. No""
ing Ofdcrcd further puieiasc Of i1,'J rfaS ~" "h
July - Of 1000 sha4,s dep"sitns mar-las, ll'sT g
orders were executed. and the has n was composed Oh
three checks the Market savin- Bank "g5s' gazing
100000. . ,.,.,., q. ,,o.i,d
T. draw out profit Ia VIA A>eH realized ana 'hcF -s't
orers to leil Urosts Close out taU Noc matter o"t
they had previously given 20 Conkllug the management
ConAin came back amt insisted hat the stock was SONG
still higher. aud not only STOPPED tat safes pi uutH
back the shares already soi fhe StocS was bei lhti
Black Friday wlr1 it Sud3ciS fell, aud Ir hUhcs
siy must sell the IAtu tor nc tSt TINE tc NV
Ing defendants leaned foW tclkirE tn.i zoe "iH as
interested tbat CUukus iGi Use, e. cchs s-H-i ny 'Ne
llesGtn Van Name, IA blank tor ,ht oitlhI. 'dsIt'S
az the bank to secure tie margins HvCt> r. Oh the
FpecuatiOu aud tA1 aside from Midi money IL D"h
had Oh account OF TINS speculation tntTc womb 10 u'-
fc.cncy about $4,000. There "dS NO ihic t' can A."
Of tue trustees, the money Oi s-tHicS Sh-
Yrnuirrli a. once aud thc three agreed tl N-V,VJ
of The securities ~ thr bans should he 0c"
tied with tAc brokers. Ihe bank ultimately got U@cS
throu.h prices it, F-'J,pJH ia Scciit4cs "u
aud So 900 81 the money tha then apieHcd L"'es'y
Lost 1t was urged tuat tis stoiy.h uue. made neither
Of Ito living defendants utHlc 10 tho Dana - 81,
Matthew II. Bemus iuc drsf witness Cdllcd lf INC
defense sud ON mis- direct testimony substantially told
The story narrated 10y his counsel ON DIS tl'~stN3l
natl he STAGED that nee became legislator ID lSo';
having been elected IN 1856. IL 1850 De was uceSieu
I'm railroad. He could net remember on Whtt commit
ters ne ry-d: he thou.nt the lar,1d Committee ana
Com itCc Cities, but ne could not zen II ~
wears OF lis legislative Nie The information gwen 20
his first partner HaynIrd ana altcINNth 10 ConAt.-'
never came his knowledge acquired as leysiaOi
bat aiw.ys from pIVa.c information, HehrNo hti Any
idea that the banks money neiug used ultl Oo"A
ling confessed IL when $4,000 aldlilOndi margin WIS
The ease viii bo continued TODAY Plan & Parsons
appear for plaintiff; Nelson Cook for the do.ehdanls