The New York herald., 1877-07-12
SAVINGS BANK TROUBLES.

THE RECEIVER AND COUNSEL OF THE TRADES
SAVINGS BANK ovERHAULED.
Some sharp words oil criticism wcro bestowed at the
Gcrmania Assembly Rooms last night upon :. b.
White recover OF tho Trados' Savings Bank and
Dexter A. Hawkins, his attorney. The Occasion was a
meeting Of the dcposit0rs OF that delunct nsti-
tuiion, called for tho purpose Of institnting
legal proceedings 10 compel the receiver 10
pay adlvdend from the moneys now in his custody.
Some scventy-lve depositors were prescott, several
ladies' being among the number. All looked ko hon
csi hard working people, who could III afford 10 iosc
tho money intrustcd by thom to tho broken bank.
The Trades Savings Bank, which was situated in
Tweniy,hird street, near Eighth avenue, suspended,
1t will he remembered, on thc 26th OF August last,
aud tho receiver appointed tho following Novcn-
ber Since then tho creditors have patiently waited
for n dividend, but has been made and accord
ing to Counsellor Henry " Hcymann, acting Tor the
depositors the receiver has failed TO submit any
The meeting was called to order by Mr.. Jardinc, who
nominated Tor chairman Mr. Cohnied. Tho latter
stated tnc object OF tho meeting and called upon Coun
ssllor Hcynnnn to speak.
Mr. Hcymnnn began by alludng to The inct that he
acted IN dual capacity, as counsel to the committee
Of dep0sitors and us dvposor himself, whose money
had been sunk in the bankrupt concern Ao
then % read w,,, .e"e, addressed S,.S Sy MN
as counsel Tor the dcpos,ors full statement OF tho
assets and Liabilities the late Trades Savings Bank
the amount Of cash, and tho kind, value and amount
PERTINENT INQUIRIES
The following passages occur in tho leiter:-"If
any OF the mortgages are not yet paid and are
not being ioreelosed, will you state tho rea-
SONY" IF you are able will you state
what the doGolency Of assets, If any, Is likely To
amount 10 s' wl you aIso state whether or moi, in
your opinion or as you are advIceJ there have becp
any illegal investments OF the funds of to bank-if
so what amount, md whether any Of tho officers have
made themselves liable by reason oi such INVESTMENT
ana 60 you intend NJ recever to press that liability
honor
Nc. Hoymann then road tho answer coming iroln
Hawkins aud C0tnreu, counsel to tue receiver. and
severely criticised each passage g the e., answer gave
did state whether thuy werc hrs second or third
mortgages ~ also sad-'Wc have not boon able to
any liabiily except ~, 900 against Mr. Lesley, the
President which he denies You have falsely stated
that j. .. H. Vance and Dexter A. Hawkins werc
PLAIN TALK ABOUT THE orPicEas
In answer 10 the last statement Mr Heymann ex-
hbted ban1 books bearing the printed names OF Vance
ana HAWKINS as trus,cos. II have found" said he.
.records In the County Clerks oflice which show
were second and third mortgages, and l have
also found that $4,000 were loancd on Jersey
officials from loan ne depositors money ON other than
hrst mortgages IL also stops them ron loaning
money property outside Of tho state The officers
ui the bank are therefore, liable TO indictment, ami
ask why has not Receiver Whito taken the proper
steps toward prosecu.,on tor he well knows the iacts
''Ihr reason is tbi!," continued Mr.. Hs,minn,
warming up, dexter A. Hawkins the lobbyist was
the couns c of tho dciunct bunk. Ho is The coun-
sol Of tie receiver The receiver also crodtor OF
the bank which owes tho Grocers' Bank, OF which
be IS President, $4,000. In my opinion he wants
TO get this amount, and, between them, they
want TO squandcr the money already on hand. rncy
have enough In the Trust Company now to pay divi-
dend . ten per cent. Why don't tncy do ~ There
Is deception and chicanery going but we will hound
them unit. VIC get our money!
Several other depositors followed in the same strain
tho action OF the receiver aud his counsel
iu the sevcrcst terms anu demanding tner Immediate
prosecution.
Al the close of tho meeting a considerable sum was
subscr carry the legal proceedings Counsel
lor Hey mann announced that he would 20 to Aibauy
without delay ana consult with the ATONE General.
lie would also lose lime IN making the proper mo-
ton In tho Supreme Court toward bringing tue re-
ceivur 10 4 proper sensc OF his duty