The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-08-04
PRICE TWO CENTS.
THE BANK SUPERINTENDENT.
TIE fORRTSdNIa GERMfN AND SECU.
RITY SAYINGS BINKS.
Judge Larned Declining TO Grant nm Ipiusss
tiop, Although IA Deficiency of $4,000 wsa
shown-FnIse Entries Made by n Clerk.

shOWn-Enlse Entries Mnde by Nierk.
SARATOGA, Aug. 3.-In the Ellis trial. at
the morning session OF the Senate. Mr.. Reid.
tho examiner. testified that the report regRrds
ing the German Savings Bank OF Morrisania Of
April. 1875. was correct. Deputy Superintend-
ent Lamb produced the report of the cxamina>
tlon Of tho State Loan and Trust Company Of
February. 1875. returned with q memorandum
OF the banks closing. The depositors were
paid. The bank reported June 3. 1875. an exs
cess of assets. but tho stockholders were nol
paid in full when the affairs Of the bank were
all wound up. The receiver was not appointed
until Jan. 2S. 1875. Henry J. Hubbard em-
ployed by the Loan and Trust Company. tcsti-
fed that Henry +. Spaulding, receiver. was ap-
pointed Jan. 2S. 1876. and settled up the concern
at a loss to the stockholders OF from ten TO If
tocn per cent. They are mostly brokers and
merchants.
John II. Robertson. Recording Clerk OF the
county Of New York. identified the summons
and complaint against the Peoples Savings
Bank. heretofore referred to. filed Nov. IL. 1875.
Mr.. Swayne. Managing Clerk Of the Attorney
Generals Office. testified regarding the above
complaint. On cross examination he said
Judge Iarned refused to grant an Injunction.
although deficiency was shown Of $4,000.
duced the, report OF Jan. |. 1915. of tho Security
Savings Bank showing an excess of assets of
nSyyS by m 9s R sH Soy s5 shows ISS sx
deficiency Of $3.50 %. The excess OF income
was s9i07i Jan. 1916, the bank reported
Jan 81. 1876. whom the bank was in the handl
ofa receiver. He was cross examined. and said
he had not furnished Information to John
Mack, the complainant. to the Governor nor to
any reporter, nor to counsel.
William X. Bangs, Secretary Of the Security
Savings Bank, testified that he was appointed
receiver in February 1876; thought II would
pay go per cent. On his crOss-eXaminatiOn the
witness said the clerk made false entries.
and there wero Discrepancies between the gen-
eral ledger and the dcpositOrs' ledger amounts
cages did not take deposits after Reid's report
Of November 1875 ii was understood in the
bunk that Ellis had been seen by some Of the
bank officers after Reid's report.
1saac Smith. clerk in the Banking Depart
ment. testified as to the examination OF the Mu.
tual Benefit Savings Bank as follows:
II was examined by Reid on Dec l. 1879, when the a.
~ts found deficient to the lunt Of 81 tOp and
the income deficient io the amount oi S~ilo The bank
reported JAu l. l-74 that the trustees obligations
sivo ani July !, ls7i the trustees obligations were
son To balance the Deficiencies, Jan l. 1878, tho
trustees obligations were increased tu - lj2 81 Reid
examined the bank In October 1870 and reported den.
s6aui The trustees did not pay the interest the call
uAn tor several years Rcid~ examination made the
,s the sam" the bank. unlN valued them differently.
VIM T. Aiariek. receiver uf the Mutual Benefit savings
$50 trustees notes lie pnidtwo diVd, nd~ together
oI ty cents on the dollar and hopes to pay twenty-five
Cru- Samincd-Thc bank held s27oo in real estate
In Ncw Icrsrv The lps. bonds and mortgages snear.
ly <5nrpll There sales al cash.
Call loans were not paid, the parties having Jailed.