The New York herald., 1877-07-28
THE ELLIS INQUIRY.
TIE AYyAIRs OF THE TRADES, THIRD AVENUE
AND PEOPLES SAVINGS BANKS zI4xrNArED-
LOOSE WAY or DOING BUsINEss.

TH8 ARFAIRe OF THE TRADES, Ih1hD AVENUE
AND PEOPLES SAVINGS BANKS zLkrNATKD-
LOOSE WAY or DOING BUSINESS.
SARATOGA, N. Y, July q, 1877.
In the Ellis trial before the Senate to-day samuel B.
White, receiver OF the Trades Savings Bank testined
regarding the bonds and mortgages and character of
the assets which came TO him. Counsel Tor the re-
spondent obeossd testimony regarding the assets ne
received. a. Mr. Ellis was not accountable alter the
receiver WAS apponssd the Senate voted TO receive
the evidence Tho witness examined BY senator
Prince a. 70 the mortgages for $1,000 each on sno
BrookIyA properly which did realize $500 sena-
tor Grard ASKED tho witness about the mortgages
given by the OF the bank and inquired what
was done with them. The answer showed very
much mixed condition OF the transactions referred TO-
In answer 10 Senator ST. John the witness SAID he
found list OF trustees but mono OF tkem acknowi-
edged TO having acted such. the bank being run,
apparently BY tho president and secretary The Wit
noss did not personally examine the property ON
which be foreciosed the mortgages the counsel for
the gave notice thai bev rested their case
to The Third Avenue Savings Bank and proposed to
submit testimony regarding The Peoples Savings
Bank.
Senator woodiu moved that the respondent proceed
with testimony ior the defence tho matter Of the
THIRD Avenue savings Bank After much discussion
Mr. Woodn Withdrew his motion and gave no'ioe 'nat
he would prcss II ON Monday Lli .lIf
THE PRoPLg's sAvISGs hASx-
l.
testify regarding the condition OF the Peoples Savings
Bank Ia 1874 He identified the report dated July l,
nam, ny the STATE s,ocks No Rogers secretary of tho
bank, called Ut tho department; witness conversed
WITH Mr. Ellis about Rogers; Mr. Ellis aud the witness
agreed 10 Rogers apparent insfc'ency. rho Wit
ness produced reporI department examiners
oi september 8, 1878, hled September 70:
Sheldon W. Sweeny, managing clerk OF tho Attorney
Generals Office, sworn and produced the judg-
meut roll In tho case OF the Peoples savings Bank
A letter was read from Superb isndsnt Ellis, dated
SEM 1 ~
commence proceednss. saying that thsre had been
deGcsncy iu tho assets 1871, and tho trustees mad
gwen bonds the same and that Tho deficiency had
Increased date. The complaint made by the Attor-
ncy General alleges that the bank had been insovent
same on the Attorney Generals register.
Mr. Lamb recalled and Identified and read
copy Of letter :" 0ssSoeI ISIS % IRON M .s ossrs s
make up $lO0 QUO worth OF interest paying securities
the deficiency also the reply OF Mr. Ellis Of
fering to 90 down TO the city when the securities
should be completely the letter OF Mr. Rogers and tho
reply OF Mr. Ellis, November 20, calling on the trus-
teeA 10 tho deficiency. order that the pro-
ceeaiugs close tho bank might be dscontin ued on
the 5,h OF February, 1875, Mr. Ellis wrote to Secre
.ary Rossrs that the delays sending reports were in
toruey General Pratt showing dolciency In tho Poo
pie's Savings Bank, and asking him 70 proceed TO
Mr. Lamb continued his testimony, producing let
tiers from Examiner Reed 70 Mr. Ellis dated Novem-
ber H. 1879 regarding tho Irregularities Of the Peo
pIo's Bank Tho day following Mr. Elis wrote 10 the
Attorney General 10 close the bank.
Isaac smith testned:-l went with Mr. Reed to ex-
ammo the Peoples Bank did not agree with Roed
made the dcncicIcy larger, not counting unpaid in-
terest aud trustees bonds as assets sent separate
calling the Dank; Mr.. Ellis said tho deficiency Of
1873 had bcon made good. sg
Mr. Reed Identified bis report OF September. 1873,
and witness sad he knew Mr. Smith had made
u separate report III November. 1875, until oday.
Isaac d. French, receiver OF tho Peoples Savings
Bank, testified as to the value OF The assets he found
and the collected; he collected SAG, 500 the
trustees bonds aud s2s,9S6 "a on the mortgages