The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-05-10
THE BANK INYESTIGiTION.
superintendent Ellis Explaining the Charges
Preferred Against Him.

ALBANY May 0-1hc Senate Committee
on Banking this morning resumed the nvesti-
cation Of the charges preferred against super
intcndont Ellis. Mr. Ellis testified that he had
an examination Of the department made TO find
all papers pertaining to the charge about tho
Iruucs savings Bank which Mr.. Mack called
for yesterday. The bundle Of papers was pro-
duecd. and comprised letters. reports, tcc-
grams and miscellaneous memoranda, among
these tn examination made in November. 1873.
Of that bank. This examination showed a deli
cienov ~ iG,53S.2g Of asscts. and OF income
.li2j.7l.
Nj. Ellis said TINT the real estate reported
among the assets ns worth $4,000 was sold soon
aftcrward fer s2s.OoO. lie told the Secretary OF
Che bank after receiving the report showing
drncicu ", that the trustees must make the DELI
cheney good. and put il upon sound basis or he
would close it up. Tho Secretary said he would
Do i. \ ettor was then shown witness. which
h. said Doe sent tn the President Of the bank
ON Doc. -. IN which hn required that the
hunk must he Iut upon u sound basis at
once. COPY o' trlrEram was also shown
stating that everything had been fixed NJ IA
proposed. Witness had. however. caused the
Examiner To- make another investigation to
verify those statements. and that examination
show d NsNrp IT'S Of t2l3ji. and an cNcoss ut
income ~ sGiI ~. After this examination am
uthnr WIS Wudc IN August. tho examiner hay
inl instructions e. Keep un oy' vi.,ilautly upon
N bank ami iDral others viii. had but 1T
iuuculnr examination upon winch the bank
WIS clos up Wis directed hy Deputy ~upcriu-
i'nd,ut lnulh during Mr. Elise absence, hc.
cause Dee i"uNI ii' tuuN WINS advert sing good
dcnl lor dep SITS, and WAS Hrting Susptciously.
Witness |rl'Nrd that b. = examiner. Mr.. RclI.
had Cd innully swOIuth IN 'crs or employees
ol hNnhs when hs wts examining. Tho law
Eave him dis U'ionHN power to clNSu rp "a bank
uron hIi showing co. require Il e. mako cool
D. ] a lon flt of
tusih s-. Iur rc-uhu returns seat IN to tho
d.IarW no ~ sworn 20 hy thr officers.
IAs Ay.n-! n Square Bunk charge was tal,en
w. lnd hr' LIS resented ne cN"mp'rs re-
lllt III" AUugd ~ square Bank. mad" Nov. T.
go IN l.iv,m si,@WimS ,il' uses OF t,"t
u-2-1. surplus ofs fi2L7O. Int u deficiency II
income - soGi.dl. 80 bong a. the bank showed
a surplus. hy had no power e. put the haue in
tAH hnnds uf "a receiver. In regard to the hold
INK Ol real estate 10 VOCATION of their charter.
winch rs ono of the charE,- the report shows
that they had sold their real estate 40 u profit.
ana So ~ ~ rhaugr purchase money AN mort
g.-'-. THIS was done lrtor" the date of krii's
cNaminlt.un H. did not hclicve this eN .hnnge
WIS - Nl"WllNh vl ul" Splti "l the law. ~ Fob
ruury, 1880. an" bank nude "a report for Jan. /.
showing % Surplus Of ~ 2O1js. H. had con-
suited Arorney-O neral Fairrhlld about the law
M rtlatiun o. the cNchans" ~ property; and
WAL a-rDclas upou the tual legality Of the
cAehanHe that official Thought. with The
WAY for general speculation in roal
s s-, ant n he Ju GNgEe-. had an IN , 9riag@ n
ltf.N tlrrr Wl- any def. len ~ In tho nHrk az
count At CHAT tlme b" took his vacation. and
II % apk .haia u is r--eJ- IN Government
bonds dee heIleE"i il could hardly pay COLLAR Tor
q. 'Hr u q receiver wis am liutcd.
Mr. Lamb -'if' Il regarding letter from
IAAuiitr hriI dated july 49, 1876. rUlHtlNr t.
IN iii. 30. Ne ntak az i. zee. showing
p,.s d.. % 'D-u- ch't rs nmonl tlt as -. On
J.lY ~ Ae Reported u!o essc t. the Attorney
in N svrsr,. cbf,f oirL - ,h, a,