The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-08-02
SUPERINTENDENT ELLIS TRIAL.
FURTHER TESTIMONY IN REFERENCE TO THE
ABINGDON SQUARE SAVINGS BANK AND THH
THIRD AVENUE BANK.

FURTHER TESTIMONY IN REFERENCE TO THE
ABINGDON SQUARE SAVINGS BANK AND THH
THIRD AVENUE BANK.
SARATOGA, N. ", August l, 1877.
In the Ellis trial. at the opening OF the to-
day Mr. Reid, Bank Examiner, continued his evidence
regarding the Abingdon Square Savings Bank:-r
never allowed second mortgages asscts but noted
them whom held as securities On cross examination
Mr. Red said IL did not inquire to their characters
the lawyer in making certificate OF title property
was critics, IN examining new banks, but afterward
not SO particular; talked with tho officers several
times July. 1870 trying to got them to put the bank
safo footing, and only wrote the department thc
letters yesterday after seeing that they wore not
acting no dec med necessary for saving the bank
In reply TO Senator Mr.. Reid said that he dscov-
cred the bogus check ty looking over the bank books
that large deposit OF The last OF June drawn out
AFTER that July he inquired aud discovered
the check Tor $4,000.
WALL STREET ADVICE To MR. KILLS..
John J. CISCO, sworn and testified regarding tho
Third Avenue BankWas called on by Mr. Ellis after
the failure OF Duncan Sherman 10 July, 1916, who
said The Third Avenue Savings Bank was in trouble and
asked advce dt not say the extent or nature OF tho
trouble; witness ADVISED proceeding cautiously or IT,
might produce run gu other banks; Mr.. Ellis said no
had talked with other Wall street men. Mr. Cisco was
asked what lie would have done regarding the bank In
Mr.. Ellis place Senator Gerard objected as In
tcricrng with the prcrogavc OF the Senate to judge
OF the proprlety OF Mr. Eis acts.
MORTGAGES As ASSETS
Frank Thonpso recover OF. the Abingdon Square
Bank testified to the condition In which he found the
bank wnen he look possession OF u III August 1870.
He said he found second mortgages from the President.
Of $4,000 and another of VII 600 given IN 1S7h
He found the general c0ndibion OF tho bank tho lrst
weeks alter taking possessiou but not all the de-
tails. Ii is the custom New York Tor the abstracts
title and tho searches 20 To the bank taking mort
cages No abstracts were found IN THIS bank regarding
the mortgages held by II.
This closed the case OF ihe Abingdon Square Bank
for the prosecution.
Tho mortgages gwen by tho President of the Trader
Savings Bank ana transferred TO the Dnnk heretofore
called for, were produced and Identified
l. An Wue
hating 10 tue German savings Bank, Morrsania Ho
said he had had time since he subpnnaed 10
procure them.
A thon taken.
THE CASE LoANERs' BANK.
The afternoon session was ,rned by taxing up the
case Of the failure of the Loauers' Bank H. L. Lamb
Deputy Superintendent read several letters regarding
the condition OF the bank The bank refused 10 allow
Reid examine It's affairs; Ellis said would go and
look into the matter himself letter sent 10 tho
could be competed 10 report the Attorney General
SAID II could.
la reply question by Mr. Mcclure for Ellis Mr..
Lamb said tho superintendent hnd no powor TO cn-
the law the refusal To report or be examined
letter OF william Tracy. attorney for the bank, 10
flied in tho department, against the power to xam-
Inc; tho bank Iacd shortly aitcrward; receiver was
appointed IN May, 1876, aud was relieved Novsm-
her
Jeremiah Wintrngham, receiver OF the LoaperE
Bank, testified fol!ows:-lhc assets OF the bank
were $4,000; jewels pledged to the bank had been
pawncd again; tho Loancfs' Bank had dealings with
the Abingdon square Savings Bank; tho assets wero
ellaneons irction OF life insurance policies
cwcry stocks plated and real estate In Indians
New Jersey and Missouri; transferred insurance poll
and also accepted less than the sums advanced ON
iewc