The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-05-19
THE ELLIS INVESTIGATION.
FURTHER INQUrRY THrO THE THIRD
AVENUE SAVINGS BfNK CASE
Testimony from Attorney g en~rni Fnt-chtid
superintendent riis On the stnad old Fig-
u-es and Ola Excuse. Rnked Up Again.

Tesftmony from Attorney enerni Fntrchtd
superintendent Eiiis On the stnnd old Fig
u-es aud Ola Excuses Rsked Up Again.
ALBANY, May 1s-The Scnnte Banking
Committee III IS morning. continued the invcst-
p'ton Of charges against Superintendent Ellis
relative TO the Third Avenue Savings Bank Mr..
Olmstead appeared "a counsel for MI. Mulow.
who makes the charges
Henry l. Lamb. Deputy Superintendent. pro-
du,cd Rcida report Of the examination VI March
q. 1875. the letter Il Ellis t. the Attorney Gem
crul on SEPT. 90 recommending the closing ot
the bank. and The regular reports Of the bank
Tor January and July previous. Witness had
thought it best TO clos" the Institution after tho
report in March. but Mr.. Ellis thought il lest 20
await legis alton then pending, under which ho
thought II m glt re 'uparatc.
Attorney General Fairchild testified that no
WIS Deputy Attorney General under judge
Pratt, and had taken charge OF the proceedings
nj the time Curmdn WAS appointed Receiver OF
the bank. lie WAS agreed upon 10y all part "a
for receiver. The Auorncy-G General never
commences proceedings to close up n bank eN-
c,utupo the re- ommcndation Of the Bank SUI
permit. ndent He had closed up several banks
and all. " Oh one exception. upon the recon-
mendatOn Of the Superintendent. Tat exrer-
ron was whore n hank had voluntarily moved
Tor - receiver. Th"rr WIS no oppos ton 20 the
closnc up of the rhird Avenue Bunk on the
ruu OF the trustees So f.lr as he sn,w. except
bonds vii h The receiver should give.
Mr. Fills tns.if.1 thn' nv bank had boon
placed in the hands OF u receiver since he hal
h'en super uiru Tex GU upon Ma a'lpl, uh-
lex, Il WIS the uptown N-rman Savings BANK
pnd that was partially dur 'n his ALTON Mr.
hsli. the 'Ntillnrr. WAC maNiuE an "Ntulint-
ton CO., trnt bank when the President .Nit .uIy
decided - rioae 1t NY. nut applied M nurr for n
receiver The closing ur, vas pnr'iy du" to tn"
o. kHIHH .N NHNH fNa IHNI | o
very taitt Iu e,nin n'r. In hoard no hints of
his Ia ump.tn"y until I. rsr inv stigat on-
came M. letter of iustru toms from bills -
Reid ut the beginning OF his term Vas read
de 'larng the ohief of all nvNsfi.,etinns 90 be
t'r'a b the true condition OF the banks with nut
Witness had ALWAYS accepted Reids reports
rs trutliul ami correct II WIS prarti al'y i'm
l's-flI' o. mike a' examination 81 iu. The
bun 80. IN thr time renr r,i b, tho law OF 1871
IL" mad connie- ou i Reid. Nroonan, and
,nna s,yNl..s' IA AZ Xxx re.,.,is ,hrn
showed that there hHd been great run on the
hank; but Howell, the preceding .Suprrin-
trustees. and the supreme Court had refused To
appoint rnHalver upon thr -nni' MSS - VIII N
me cyan nation made 10y k.it ana tn other
two exam ners m April showed e. he still on
sane down io ls75. Hedo,- n.trink ,hat he
value of tne hans building had been increased
tlnl.ulJ in tn reports during his time.
showed that the same figures Of the cost " the
banking hDu-r " r. returned from 1873 uu o.
January. = -. wh-n II WIS raised from slo5.uDu
e. $4,000 Witness sui thus might have h"en
II q the $40 coed ~ Mar % az tisop'n Tine r"-
poris also showed that no increase rad been
mHd" M iAe ItrtNt.Nn lr'ir y or IN "a" h"l ,
goa -- H. 'sr ref' ,~td'. Huri' 90. -ir1e trim lf
years. eN .p' that "a MORTGAGE rad been reduced
hV som" = nh. ga" iut 'rfei 20 the lhnk ln II
benz correspond My Increased. Il had de-.
March. 1875 b." 'sii-- the present general saw
.i-@ '"hH .hN Wn7 tA,n p N liu~ lh 'N- l'-ls'h-