The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-08-08
TINE EfffS TKI.fI.
The Accused Rank sup-rInte ndeut TestIfytng
In fIts CIV Defence.

SARATOGA. Aug. In the Ellis trial to-
day. %, ,he - ching @. Tho Senate. d. C. Ellis.
Bank Sup,rintrn lent testified:
rls W. s ,v s.,s IN. i.ss s,,S sr t
in the icr-tim ~. was 90 sar.'osa dont remember
.,, Ne =, ~ Rs H,e aS s' h.
"a AIN " - now ~ WI Sl'r'' Jus men MI"
i.,t. in Ia kno'vlod-. iw,ut To- SOW iork the day
sod he car..,, aciny 'sw esGt or zen cher bun
49,. men ll'' ..' We a.ih,, va - .'rl IL Oh.
neu lau.efai'd 'r' tr closing ol inls bank would
A.; ,,. ,d ia & qs T e, 9 '
o.. ID, NIiI ti" scr t'rv Immediately went to NV
i.s 1ns ~, de-. at, wsre maj. ~ e",nHa'd
,. ,Se .e,, .t VI NJ, sr '' RE is'"s r. nv No. '
t.uai comai' and 'ouni them ruuni'. on IN thor
tt,u.- Ives. luHi 10, sHs FINANCIALLY SQUAT. When
It'ii oXannued nc hank IN Dcrcmh,r is7' ;hay,n-
s,,seiary ihsi N, uH.,ecs must Mao ~ ihs den
iec.Trn .suns iacy had iat the hanE IN .hsrc Rsii
rrii,a On Rew'. tc9ori 9. had 40 hrow DE- q tie
Ausr,i iST' nd -ad, when iod 10 and look a. ,hc
raucniy Srr' ne. - n,H AT r'fht va. ~ .',hc.
.e,crr, ,ni nprr',,d nv. ,c.,nn tns,rur,e Xxi. IL
,ri,i vs. ai,,s ,'n ~ I.n1. and ...i L.. /, ioak ,o
IN 4, AN d, iI'' 81" '. ,r'ep5, q NJ Bed CON CON
ne q ne or,'r, AID ,"a rrope~ 70 n,aAs ny the
H'' .h, '.' w" N" a' ."t,,'H y. 10, "aun an
iuN, PROPOSED changing ei'tng individual ones moro
unt t N.e Y.,. adj i,.s~, imto tie na,',r icSatn
D. Il to tru.r. tou 49, t"ri.ss,. mt wa. at shed
ms ~. d'd 90 the bans ''"' rMN'c ~ M rnsl eN
= i,rrM rc5ort I only know d,at Kld
f"r,t wien ihs nt"r wa, Irola,,d an "." Ihe
a., ' ryi S., ,rl ,J.ra, ' to Rl S" io r '
s.., t,' 'u,i ,ir hsnr,. ~ Rci.s irin'r m, Auar
IFfti n
T.. When &c ic nai r. lori .A'ne, as H., tsur,
4 seq lr Attorney q, srI had NJ iuri'r ,onirol over
o. bank Won, yiu, i'e rcciyer g. witness T. aspo,
o d assets Of Ga, hams Tue k 'o''t 90 tie Ncchaulcs
sM irD'e'. h'nk i.-nl "'t i'nc month, WORK nat
- s"H a, h. A- m g. 90 20, ~. d, ''s a. m",y
toeHiorro No law R,d wcn' fnl triod 10 exangt IL
"a not 'ure'yi went =" Srw YOU - A'r 80. AMI
rna, hani, ,ne The .'' en,'on q, * 'n.a,hi
ii'0y, Their aiiorheN thnk II vas teigrr
H,ormS ',uerai TINT the hank was turned owr
Attorney ral. arh n" pu rnr''s opinion against
M an exannrucr ccuc no, wslS N and take POSSE.
no. ..N inc of.. o., Ny only knowedsc d ,h,, h,nS
Kit r, ,rc. Al iGiy ~, SO on tie r'poft Of Rci Hy
tre 'sss mia nn me y, o R I %. G i 6s bn *
closed have no snow let-e OF uis receiver a. nen
rl.ana. IN March, lH7h R'ii sexamnauon mentioned a
i~nt AMI ,ou'-, o lie bank came 10 Albany aud told
uicm ti,N must make mp the dructnc They seemed
very encr-cuc, un1 did not want the hank closed The
former PRESIDENT d"p-lled so'"l c'atrraS tor the poor
under the ormcr BANK superintendent The officer.
seemed anxious t. dp all that IA. SUPP ndent asked
t. make Tie dohcics good Gen sSel ami the trustees
called AMOR the bans hHd fosu pat III ia" hands oi the
Attorney Goncra aud ,aid uicrc had not teen such a
nun and hitc more time were allowed NE dcpositor'
wout a have uccn paid. large proportion OF IA. Il,
pOsiturs had Signed PETITION PROMISING tu let their
money lay N ' bank II u was not put ia the hands ui
tat he gOnE 10 try the experiment of letting the
pusnr vote pto rata Tor artctiycr No facts came to
my know i'd.e io dssuov my confidence M the lauk
w attention was specially called T." the Se'uniN saw
vailed IN New York al tic tune Mr. Rcd made the a
animation They had prs' IDEALLY closed Tor lew day
while the examination was being made. They claimed
thUv solvent told them that the de tClr
| they not doing business The hank was finally
closed N the officers ~ January Five or six banks were
! closed alter the Ihltd Avenue
Ny attention was called Ia the Mutual Benefit SAVING
cd 81 Il, AZ made al examination, found f't. ncN
ANA told diem thts must maAt II up They ASKED time I.
hold tua trustees. The day beiurs the time eN
pred they hupunuda receiver without his knowledge
t MAKE deiirrncN ~ new hanks, IN tact all ne "
banks haze o be- prupsd up ny their trustees II any Z"
the banks holding mortgages were nuf under IN" nam
they would be ln~uN"nt IN time 81 great ucnrccia
uun IN stocks they might Ne so bat allowed togo al
would hr all flEht lcNerrlscd my beet liNr,ilun m re-
gard To these banks II Nuu-ldcrcd uht the ScCutl
So fiu., hank was good aud "i,sht ln 80 On It's -"
rrDnblc with the oi Ia, Departing M Ia examine
every Icce OF property the books Hold one had ~.
dfr,nt mortgages could only take the papers AS the,
appeared 10 The reported nj lace value In h'
present SLATE o the real estate market " uvll mortgage
were tur-,lo-ed haus could pay their depusiiora.
would force iur'c Insure u mo- t%ukr large pro
portion oi which We're taken when real estate II
better condition II let alone they VAL pull through