The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-05-03
THE SAVINGS BANKS.

FEW SUGGESTIONS TO THE COMMITTEE NOW
MAY PROVE VALUABLE.
Interviews which have been had with bankers mer-
chants and business men show that the community IS
taking much interest in the doings OF the Senate
committee who investigating The charges
against Bank Superintendent Ellis a number OF
gentlemen who been spoken to on
the subject believe that Messrs 81 John Coleman ana
wellman, who are hearing the charges will do justice
TO tho public, while few others arc apprehens ve
that tho power OF political Influences 10 say nothing
OF the possible personal interests Of al least ono
member Of tho committee. may intervene warp
their judgment IL IS agreed generally, among those
who have expressed an opinion this point, that
fraud the right OF charge advance against
Mr. Ellis II Is not alleged by those who oppose him
that no has been guilty OF fraud under the
statute; he mas not beer detected In fraud and any
charge under this head would simply be a misnomcr
Criminal neglect OF duty the nature the offence
that must be brought homo to the door OF Mr. Elis.
Another piece official conduct which is much talked
auout as being extremely disagrceatle 10 the
people OF this state Is found IN the APP
pointment OF Mr. George W. Reid as Bank
Examiner under Ellis. Reid is pon-rcs'dcn In
New York State or city, he lives New Jersey. and
only under the jurisdiction OF tho lex locI when no
happens occasionally TO come over hero business.
Business men complain that this Is great public IN
convenience, source OF mucn annoyance in many
wherc no less than 1915, 900 900 come under Reds
supervision. II Is believed that man IN rcspon-
sble position should least 'be u resident OF tho
State.
Tux THIRD AVENUE RANK
MI Melen n dcpostor, who lost over $l2, 600 by
the Third Avenue Savings bank, is determined navc
arigd examination OF the official conduct oil Superin.
tendent Ellis IN his connection with the affairs OF this
corporation. He suggests TO the Investigating Com.
mittee that the following matters be gone into That
the Superlntendents reports TO tho Legislature
10. tho years ls7a-o and tho previous ones.
In I'D nt
and special reports which have been received by tho
department and by Mr. Eds Individually AS well as
with special reports OF examiners and others, DO aid
before the public all reports and writings relative to
Tho Third Avenue Bank TO DO submitted, and Mr..
De Witt .. Ellis TO be individually placed under exam
nation; George w. Reid, OF Elizabeth. N. j., and
on tins subject TO be brought forward all special and
other reports and copies OF letters concerning the
matter of mo Third Avenue Savings Bank, since Mr..
Ellis was confirmed as superintendent be produced.
The following Witnesses 10 DO called on the stand:-
William +. Aldrlch, No II Broadway. sub-examiner,
letters on the subject; Isaac Smith, account
ant In the department at Albany, with all
HIS reports aud letters; Henry L. Lamb
deputy accountant OF the department at Albany, with
iu scts OF superintendent EMS reports Inc As.
scmbly; $. H. Aurd. No 33 Pine street, New York.
cever OF the Third Avenue Bank with copies OF his
statements OF sales OF real estate made by him and
documents relative to the Insolvency Of this instu
the proceedings OF the Board Of Trustees
corded, and the resolution OF that body to
raise tho value OF farryiown real estate
his knowledge OF i.s usurlous transactions
and sta tomeni showing tho following dencits:-Rob-
berries by ks $l20 900; frauds by raised checks
$23. LOO SO; United states bonds unaccountcd Tor,
$20U00 cash received Lee's bonds, So 500; loss
on settlement oil the Atlantic Mail stock, $2r, 575
losses by real estate growing out vi tho Atlantic Mail
stock mainly $492 5l2 II; tho expenses OF clerks.
bookkcepers, with The amount OF salaries aud who
drew them, $30S, 0s6 Is, making thus a total Of
s23lS42 90 II is also desired that John b. Manning
OF Wall street, be examined as 10 Southern bonds,
and George Hcncken. Jr, a trustee, as to tho meet
Vh Wns rasn IN iha hnn iha
evening OF the 2sth September. 1875 and as to It's
general condition; finally, A. q. Dunn, OF No 1l3
East Fortieth street, former trustee OF the bank
and his report showing It's insolvency
In addition 10 this formidable array of figures and
witnesses tho opponents OF Ems claim from
hts own annual reports 10 the Assembly that II has
beon common practice Tor banks to invest In all
OF vaueless Stock ''wld cat' specuations worthless
bonds and deprecated real estate without beng any
way held to account by the SUPERINTENDENT, who II Is
urged ought 10 have prevented Investment In such
curities, which are not allowable by law