New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-11-29
ARECORDOF BROKEN TRUSTS

A RECORD OF BROKEN IRUOlO
CONFIDENCE BETRAYED IN MANY WAYS.
now THE AIIIGER DEFICIENCY WAS CAUSED
RoBERT L. CASES BEARING IN PR1sON-TliERAs-
son nAuED-PLUME STILL A STOCK EXCHANGE
MFMBER-CRIME OF A NEw-R0cHKLLE SAVINGS
BANK OFFICER.
Several alleged defaults and breaches OF trust
were brought to public attention in various ways
Yesterday An effort made to get Elijah Ait
GERS bail reduced, and tine basis of the charges
against him was explained in the argument. LOUIS
+ Tberasson was admitted TO bail. majority OF
the Stock Exchange Governing Committee voted TO
expel George L. Plume but two-thlrds vote was
necessary. Robert L. Case bears his sentence with
selfcontrol Ii has been discovered that W. H..
Humphrey, secretary Of the New-Rochelle Savings
Bank is deiaulter.
TEE CHARGES AGAINST THE ALiIGERS.
EXPORTS TO REDUCE TEE BNL-ARGUMENIs BE-
FORR JUDGE LAWRENCE
The Alhger Brothers are not yet released
from custody as they succeeded in obtaining
the required amount OF bail They are sul prosecuting
their efforts 10 get IT, and 1t stated yesterday that
Richard Aiger had secured bondsmen who would JnsIi-
~ in over 5000 OOO the required amount being @ooOoo
on bail bond Of Sl25OOO. Elijah Alliger has issued
card denying any liability TO the Commercial Union AS
surauce COMPANY in the action brought oy it, and stating
that upon a fair settlement If any balance is due from
him. il Is less than $4,000. Mr.. Aiger also states that
n the company succeeds in establishing any claim II
will against him alone and viii not affect his brother
10 whom he says, the company Is still indebted
The motion TO reduce the amount Of bail required OF
Elijah Allger was argued yesterday before judge Law
renee ia supreme Court Chambers. Mr.. Chttenden, his
counsel sald chat 1870 she plaintiff had no business
in the United this SIDE OF the Rocky Mountains
The Alngers were young OF little capital OF a
=. a had On side y
pcriepce IN the insurance business. The plaintiff made
them agents Tor the whole of TIE United States east OF
the Rocky Mountains and for C1nada The Aiisers es;
tabi~ncd business win hnudreds Oh auDlEeu.i,, au
ont Of the pIOnis they paid over 10 the company more
'TnJ.r Nh, contract Mr. Chittenden continued. the
Alger Brothers 70 receive 20 per cent whch was
aterward slightly increased on the gross premiums
received Dy tine company, and - per ccnt o. llo neg
nrfs II ts contract meant 10y gross recciots on al
the premiums al the money received LOT pI,Hiuls
ouettion which counsel admitted one OF grave doubt
then the Ahcers owed either noinng or ai lhe mos
not over $4,000. Elijah Aiger denied tha' lh ~
Is72 and 1873 he had misapllgI money ~ N'Ss ivt
authorized by the company. The iaet that ne alc,
peared have rul behind u the enc Oh , ds'}
S17.62G 80, easily cAvalnS"- from IIt h's.le %
M busir S. EXPENSES a ways largely in advance
of tie roe ipts accrumg from tne exp, nditures
Nj CAuendcu argued That dtr TINS coh,.'c tn ING
defendants were not agents ia Use sthse III NIcH
agents were liable arrest To- misusmg then pIncpas
money hul rather dealers with the London company
who were entitled 10 al ACCOUNTING he hueIe O'u ,uo
lis tnret ,r Elijah Alhgcr vas OcsirOus 10 nave me
tnc amount determined which nc owed Il ne OWed any
u
Give a9d s3O. 900 the utmost The bdl should not
h. more than sufficient 10 secure MS SUBMISSION 70 thG
fpdl1uent AGAINST him. Taken 40 the worst, ne had
Ttdr IA bargain ina which tie fronts were all ON one
side, while the losses were on tho ON i
had roaprd profits, the agents had run pehlhd, ana
resOlfed 10 questionable methods IL iAe nope Oi re-
covering themselves. THIS Wes the extreme measure Oi
their
Thomas H. Hubbard, counse for the plaintiff, said that
The c.plp4ny had hoped for some explanation OF some
settlement Elijah AIigeT None Lad come nut ~
stead a defence ana that was thai ON some eO1OOoO re-
repaid repaid premiums or rclnSultlctS
he was rrttd 10 20 cent. II this claim iCl S4dVVVO
were good. then Inc owed nohhS Dat IA az AIS
monthly statements ne Lad never maze any suth ol H.
nor couI n M Tor one instant considered good BY any
conversaut With insurance matters. 90 -- .,
In his Last statement Ou August 81 lS'1, Anger ac-
tnnylpd- a that SO 6l3 cue. That was lo lJhDt
correctly stated bat the officers OF Inc Dahk c"ud not
find snc nt assets 10 make % good IN one statement
u the Insurance Department he had sidi tLe oncO
IN J,uDsitiug the funds la h, own bank Ins Was "a
distinct violation OF the cOnpauys directions 10 ~
separate accounts for il, and separate oanh deposit
Hubbard said that ID htd btch astt4 Lth thdJ
down enG OF 1873, when tue brothers dissolved
partnership. 100000 had Disappeared Inc dehcicncy
had increased since, ana nov, allowing S-u'NVO iOf
books and furniture Of the oitce,
there remained Sll4oOO unaceoulted 0r ihe Itcelp9
have past seven years, Ft'"b uVO on Nich
he entitled 20 a. no. bu not ON ne roJpVOO
ON which be- now CiaILicd a percentage. Tie Tweed
case had settled tie amount OF uIi was 10 c uAed
MOI boz h. dD of tue person 10 give II, nat by the
~, Parsons appcaiirg ior Hirnard D. Aliger claimed
reduction of BAL should Apply equally tu lscl-
old d. Ai-cf. lie ceased III. connection WIth he Eercy
I'm IN-5 Tie plaintiff did uDt chtrs', and could not
Ills liability. il any, grew sOicj out OF MS partnership
VI me uaLtin trd DN every ingenuity 10 charge MN
Wins lar.c 20 share as possible.
The CONT took the papers ANA reserved its decision