The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-09-21
EEO\ \DW ELLIS BROKEN BANK
srfgyrfRr sWfN TELLS now SOME or
fnI .iSsETs HERE COUNTED.
Mr. IIo,t Greatly E.cited-Ue Calls the Sec
,ctar, n Liar An Injunction Served and an
Application Made for Receiyer-A sus-
...ti,. Package Pound by Onicer Byrne.


Wn,u the trustees committee Of the Clair
r,.tSlvinl.s Bank assembled yesterday morn
i,.t, discover II possible. how the bank had
bon loaded with worthless assets. Mr.. John o.
u.yt vas rr,scnt Secretary Swan explained
n tho committee that at meeting OF the board
in p.,an.h.r It Trustee Disosway moved the
a,,..i,tueut II q committee 10 examine the
oe .ir. - the bank. President Broadwell did
rt.r,..fttfhe mover " the resolution Chair
r,p. az tho comm.tieo but Mr.. HOyt rs Chair
man aud Henry Parsons r. associat". Hoyt
dffl.al ,ho work = examining the assets into
k,. p.r,.. "Ho took explained Mr.. Swan.
san those ola-s.- oi assets which would show
trr..,ti.0 0r rro...d.M-s, and save the others TO
Br Parsons.
"Y.r are a liar" cy aimed Mr.. Hoyt in
owarne pass p.
Mr. swan continued 10 explain. H. said that
.o..,of le securities which Mr.. Hoyt took
,..tttof were az 70. % time IN the Union Trust
r.ra..ny .ui some were in the New York In
.t.. r4nk. l1Vns been placed there as coli
ht.a'- Mr. lnf-on-. who had to sign the
r.po.i a.ta Mr. liuyi md swear TO IT, was given
guit r-fHni t'.utfhoy were in the vault of tho
saf. o 80 Company. When Mr.. Swan said
g-Nr. u So a-An broke or, with the cxoama-
aonilath.w wl-n liar. This report was sworn
yly President BroaiwcN Secretary swan. and
Tru-t.ss Iioyt and Parsons.
NNan the committee took n recess at noon
ur kuarp said that several itoms had been
l.uui not included in Mr. Orvis's schedule.
H. s4r Now items amount in all to over $4,000.
Taey ar u.s. follows: Accrued dintcrestsj.5ssll;
snarA- out for collection. s~63.57; che ,k-book
s'amrs. $500; due on furniture and fixtures.
sos. rent and interest Rot charged up. sl737.-
g.: evp.nse tens s2lO.36. These should be
bidrd 10 the s247j25 81 of assets reported hy
Mr Orvis TO the Bank Department rs Of no
value. They would 20. he sad to reduce the
explained d.t ion v. Mr.. knapp had hop :
ihat about $4,000 OF The assets cgs-.d rs
doubtful wou 4 Iroye 20 bee good. Mr.. Orvis
had deducted 81 500 from tn" face - the mort
EaE's IA est stimating their value. Nev"rtheless
hat sum should he counted ia explaining the
,auSes ~ the drh irncy. None OF Mr.. c -is ;
neur,s had been d.slrovei.
In n" afternoon an injunction was served on
Secretary swan 10 prevent the bank from cOu-
hnuInE business. 1t was ISSUED hy Judge Ian
don - scheme 'tady. and IL made returnate
Sept. -. The Attorney General has begun suit
l" dissolve the corporation. and has applied FOR
III order requiring the bank 10 show why re-
,eiyer should not be appointed; No bus mess
nlrsel 10y order Of Bank Examiner Oryis on
In thS afternoon session Mr.. Swan told the
eomm ttee another interesting story. 1t was
Dner MIR. Osborn's duty. as trustee. to make an
.Namination into the assets: In the morning
v
lishle paper, aud when he had finished he went
+ dinner. While he was gone Mr. Broadwell
oes tns cash dnb nesoiisae,s &C ts paper from the
Bank. With them he released large amount
Of 50 'urities deposited there as ollateral. and
brought the securities back with him for Mr..
Osborn 10 count in the afternoon. The next
day they were replaced IN the National Ex-
chang, Bank and the cash n is turn released.
lA ull~ way Mr.. Osborn was led 10 swear that he
bad uui ihe securities IN the bank where
Mr.. swan said yesterday. in the presence Of
Dir. OsOorn. that he had not meant 10 be- UNDER
tl"od as saying that that genisman had en-
dorsr any If III, Jefe. Johnson. .Jr checks nov
H. the bank or That he had recommended d. \.
f"ardsey To thc hank. There We're no checks
H. the bank with Mr.. Oshoru's ondor-"meNt
Mr. BeArdslcy says that hr has meyer kept an
sccount n or hal any dealings with the Clair
mont savings Bank. The Il tr- and checks in
Question w1re Arld ~ an outside party. and
terled some time aso. and should have been
Another letter written BY Mr HQyt to M Swan
t. II Mr' H6yt .ais Mr. swan dear brother. ami
lelS b. m not 10 be- excited. swan had written 70
PIN a-king thai he would repay the bank slO.-
Jll. a4l inquirng Indignantly when hc had
hel.i the bank. Hgyt wrote that il would be
y happiDs day oi his life when he saw the
Ea'rm nj Bank paid up directly and niirenty.
femeuh"r how many times hr has h-.ped Ia.
banA out % bad places. For proof Of tIi- he re-
vrtes tnit he hus paid swan $500 for tho a.
conn iatNn o.. - nnn of $4,000 made by swan
T. liiH sell ani Mex uury.
Seer tary David T. swan. the central figure in
u" bale NV stEatDn, 10 "a slim, active little
i.an. at.,!s nor" lhyn me- ie.t hlEh. He
~ehr- suit ~ i.u' N4nnrl brushed free from
INT When o. t.k- his head is thrown back
p ulh' th- WraA lines of hl- rttrcatlng chin
y w. "ni" painfully prominent except that
o. hair Hi dark brown moustach" Is twisted
NJ J ui-. d.f 'et-d AZ AN Hugie ~ - degrees.
gray, If ur.sui and pleasing. Hl- complexion
I "a. Ihe back OF his NIX Is very thin. and