New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-08-02


TESTIMONY IN REGARD TO THE ABlNGDoN sQUNF
BANK-JoHN j. CISCO ON THE THIRD AVENUE
BANK-rHR LOANERs' BANK.
SARATOGA, \. Y, Aug. In the Ellis trial
to-day. SIR Reid Bank Examiner, continued hs evi-
dence regarding the AbIngdon-sqnare savings banE
I never allowed second mortgages ~ assets :;
but noted them when held as securities. On
contamination Mr.. Reed said did not inquire Is
~ their character; the lawyer, in making certificate OF
title 70 property was critical in examining new banks
but afterwards not particular talked with the Off
GERS several tiIAes July 1s76 trying To get them 20
nut the bank on safe footing and only wrote the De
partIncnt the letters read Yesterday after seeing that
they we're not acting he deemed necessary Tor saving
the bank.
In reply TO Senator Mr. Reid said thar be discovered
the frauduenI check by looking over the bank BOOKS
that large deposit Of the last Of June drawn out
soon after and that July l. he inquired and discovered
the check for $4,000.
John j. Cisco D. and testified regarding the mira
Ayeuue Bank: Was called on by Alr ellis after The
failure az Duncan IL sherman in July. 1875, who sad
the Third Avenue savings Bank was I'D trouble ana asn
advice did not tnc extent ure of thr trouoe
witness advised pFOtesls % Ti ~ n 80 ee
duCc run on other banks Nj LlllH sara NJ il - h
with other Wll.-st. mr. Cisco asked Nhat ne
would have done egaidpg the bank m Nr. Ellis place,
when Senator Gerard objected ~ n'er.'ruc VIA me
provocative Of the senate t. Judge oil tIo proiHeJ OF
Frank Thompson. Receiver OF the Abingdon slaare
Bank. testified to the condition m which he found the
said found second mortgages from tue Pc idrrt. one
Of $4,000 aud another u $1,000 given u ls75. Ht
found the general condition Or The bank the first three
weeks after taking posse sion. BAT not AL no dn M 70
is the custom iu Nav York Tor the r.rfs ~ TILE and
the -carcher 20 20 the bank taking mOrt-agft No
abstracts were found IN this D.rk ssTdinE the mort
gage. held by IL
Ihs closed The OF the Abingdon Square Bauk tor
the prosecution.
The NOR gnges gwen by the President Of the Trades
Savings Bank and transferred 10 tue bank, heretofore
called fOr. We're produced and Identified.
IL l.. Lamb called % produce me papers relst-
fsf he h.
LIE had had time -uDpgnaed 10 procure them.
The afternoon session opened by taxing up the
case ~ the failure OF tho LOaner- Bank. ii. l. NIB.
Deputy superintendent, read several letters regarding
Tie condition ~ the D2nk he bank refused 10 ALLOW
Reid 10 examine IFS affairs Eilis said he would 20 ana
look INTO tine matter h.m-ef letter sent 20 me
Attorney General ApI 4th 1876, asking n tue bank
could be compelled 10 report TIE At,rney-tIcucrai
said could. Ia reply Ia question b, MI HcGuirr f0i
| Mr. Ellis, MI IamD sad tne superintendent had no
power enforce the The refusal O report OF Dr.
examined. a letter " William Tracy, attorney lOr thr
bank Is hled the department lst Tho power to
ceyer appointed in May, 1877, and was relieved IL
/ November
Jeremiah Wntrngham. Receiver Of the IOancrs' Bank.
testified 50 foOws: The Of the bank liOOO
/ Jewels pledged the bank had been pawurd again.
/ the Ioaucrs' Bank had dealings with the Abingdon
eouarp Savings Bank the aFH~ts were miscellaneous
collection OF hfe Insurance policies, jewery stocks,
uafcd ware and real estate ia Indiana. kow-Jelse} ana
Missouri transferred insurance policies 10 companies
for less than Them and also accepted less
than the sums advanced ON Jewriry.