The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-03-09
EXAMINER BEST'S REPORT.
THE UNION DIME SATINGS BiNK's AZ
FAIRS BEFORE THE RUN
Some OF the Late Mannge OF the InstItu-
tion Handled without Gloves Damaging
Charges BiuntIy Made, but Fiatiy Denied.

"~'-.~ W. 80 80 " -
,"" ..,', 49," -, ,,...s.s
Mr. william >. Best, special examiner ior
the state Banking Department, has sent 70 Albany
supplementary report relative to tho Union
Dime Savings Bank, ana with II 4,ooO iohos oil
testimony. The testimony Pnus 10 snow that
Joseph U. Orvis and John Mack, cx-trusto"s'
sought to ocurethe removal oil certain oihcers
VINO were uhlrienuly 10 them' anu 10 ge'
tho control oil the pahk' MI orVis
was one OF tho incorporators oi the
bank MIR. Mack having become trustee
in lst2 In 1869 Mr.. orvls was dropped irom
his place as Chairman OF the Finance commit
tee, ana from that umc the report s"Ss' hc eA-
hibited marked rancor ana vlnuictlvcness TO-
ward those whom he considered his enemies.
just about this time he was deposcd from inc
Presidency OF the Ninth National Bank, ana
was consequently out OF n position. Being one
of the trustees of the Union Dime Savings
panr NJ Oryis tho rcnort further overs nj
."nN "'' i''9' ',, Wv ~. -" .s.'.a,,
once began to pull wires To secure himseH
salaried position there. He wanted to attend to
,ha ha,h a, ,ha o,.onioca ,,hon 4, ros oman
'"o oanN III 'no o'on,ns' "no" ""' ,oo
as the salary for that arduous work Mr.. Mack
approved Mr. orViss proposi',on, uu' .ne o'ner
trustees did not concur. and after that Mr..
orvis and Mr.. Mack took an attitude OF nos
unity 10 the other trustees MI or'ls oesah
| operations against the bank at once
IN ,ho 9s,h or oo,h of Auyus, no coIlod unon
- Vs. 60, - ~ -, -, A., n,'i.r
hc'ih9 ouperln'cnu'h. hu'iip VI '"u p"nN'nS
| Department. In tho Westminster Hotel. and
urged that Official to investigate the affairs Of
the Union Dime Savings Bank. Mr.. John
| NooL accommodated him Mr. Orvis was
eauipped with n series Of charges against the
management Of the bank. none Of which he
| established when the time for the investigation
came. Having been summoned before Exam
iner Best. he swore that he did not read atele-
| gram announcing the appointment Of that gem
tleman az examiner Of the bank before IA meet
| -, ~, -. 80. n. ,s--, IN, ,h n,
ing OF the trustees 'Sep' 90 lo''' say lux "a
he had spoken to one or moro trustees conn, conn
,' '..pa, A." on..t' ',,S rani ,ta ,a,eorar, 4,
h" Mr. , orys ] ala rS0a NJ S rv ,I's1Sp spS
,h, ,,,,,,,io,,,,,, ~, Nr ~, ,vo,Li ho n torri-
i,e nppoin'ne,' " ,'' p.s' "'u'' ~, "
mit,ec was sent one Of the trustees protesting
that II the hank was rotten. h. wanted 10 know
1t at once and 50 did ,he puhlir, NJ. or,.,.
According 20 Mr. Bcsts report Mcssrs orvls
and Mack were schemns ior ne ahI2rlhnl,nch' nr,i
| of Charles l.. OrNis, a son oi Joseph l. OrNlS,
as examiner.
In 1869 Mr.: Orvis made demand upon the
Chairman II tho Finance Committee There
was a warm discussion over the, claim. but
finally for the sake Of peace and harmony,
as ono II The trustees said, $1,000 was allowed.
Mr.. Best did not find that any service had been
e iIIStS Id RsS eenr % amons H.
rus'ees, and ono OF them, Mr. lhoin,as ,I,,,. Nas'
the famous car'ca'uriS s'H' Yo. IN ,ne 'T"Iwa"s
wc., lssil .rcet near fini avenue
r. ., R.irn r,s %. r,,e b,' S,eg' XXI ,,.
mi. ehartbie in,Gintism condaccd Win in. ie
,6s tru t S Tee. %nns gave thr services eraiuta, i
VIA, ys, R" maS S am. Ss. rIoSe Ss NJ Re- h. ca
itn, im,'iiunuh y nt t. " M ' n ~ \, ,o w
thst ni,cr hs' are saihered sou Put them into YOU
pockets Therefore not caring to belong to saSins'
bank ring, tender my rcssnation, and remain.
Yours respectfully 1"os.' S.'r.
Mr. Best's report further says that Mr.. Oryis
and Mr. Mack pcrsistcnty tried to besmirch the
reputation of the bank. and that In 1873 Mr.
tint the salary Of The frcsIdent bc increased
$4,000 and that q the Treasur.r goo. That
nas ,ng l.1S .ioSoS In 7I4 Mr MSk % R"j
about the 9XtraNasnnt SALARIES pnd thc oiii'cr.
Of the bank. and although Mr. oryls Voted ioi
Mr. Best charactcrizes the removal Of u,
bank from thnnl street 10 Brohiwhy anu NlNtl
avenue rs a great mistake, but rciutes u,
charges that Were made of fraud IN nuyine The
new site. lie iniimates pretty plainly mat ~
rumors relating to the buying Of the ate orlgi
mated with the enemies of the bank, The st9r,
Tas tea, tse o@rS o. os .he SSnk haa dyI
buying the property from Mr.. Rudolph WI
tnauS Mr. Wilthauss books were EXAM neI 10y
M Bs a boSu srs VT The r n1S IS yew
by Mr. Best as perfectly legitimate
Mr.. Brsts report finds that Mr.. Charles f
Orvis's influence was negative rather than posi-
tive. rs his official position pr"cluded his tax ing
any active part in the warfare waged 10y h
father and Mr.. Mack but that nevertheless h'
sometimes oppressed his opinion. and II wa
invariably adverse to the bank He spoke OF i
= on more than one occasion rs being in Il pre-
carious condition"
q just previous 10 the run on the bank para
: graphs and slulbs and innuendoos calculatc'
10 njurc the bank were printed in certain even
I ing newspapers and after the run was begul
e Mr.. Best received many anonymous letter
o tending to prejudice him against tho institu
e | ton. He makes no positive charge AS To tn
I | authorship of those articles and letters. bu
. | leaves 1t 10 inference.
) Mr. Arnold. the banks lawyer. is accused b
u Mr. Best of borrowing money from the instltu
- tiOn in eOntraycnlon ot law. he being trustee
1 using Mr. Gre"nsward, his hrother-in- law. a
10 his agent. and borrowing s25,OUO on ccriai
= property in SNy-ninih street. Mr. Bcs
!. charges that Mr.. John Mack spoke against th
u management Of the bank in public PLACES, on
1 saying in street ear that he didn't bellev
q the bank could pay ninety cents on the dollar
e and that probably 1t could not pay NOR
| than seventy five cents.' MIR. Orvis does n
r seem 10 have boon 80 outspOk"n.
II In January. 1876. $1,000 mysierously disaI
V pcarcd from the bank. committee 81 lnvc-t
A N 4 a.