The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-05-09
INDIAN COMMISSIONER HAYT
HELD TO ANSWER FOR VERY PECULIAR
BANKING IN JERSEY CITY.


Rearins Of the Public Prosecutor a Private
ioa-PIeading Not Guilty-D,rect-
or Field Expected 10 Surrender Himself
Indian Commissioner Ezra A. Hayt, the
President OF the International Trust Company
OF Jersey City. who WIS indicted on Wednesday
last by the Hudson County Grand Jury for al
legged false statements Of the condition Of that
institution. walked into the Court OF General
Sessions unexpectedly yesterday morning.
soon after the court convened. He is n man OF
ordinary stature, and ia apparently about So
years Of age. His hair is almost white. and he
cultivates a thin. silvery gray mousache and
whiskers He was dressed in n plain suit OF
black broadcloth and wore a light spring over
coat A black necktie. dark -coored gloves a
spotless shirt front. and scrupulously poi
ishcd pair Of CATERS completed his attire He
had bearing and demeanor that might easily
have led to his being mistaken for clergyman.
He was accompanied by his counsel. Mr.. McGee
OF the firm OF Bedle. Muirhead McGee. who
are prominent lawyers in Jersey City. and by
ex-Mayor Charles T. Sedler. An effort had
been made but without success to procure the
defendants Arrangement in private. and Mr..
MCGEE, shortly before coming into court. had
written note to Prosecutor McGill requesting
that favor. 1t was not granted
After few minutes delay during which Hayt
conversed smilingly with Sheriff Toffey. to
whom he had formally surrendered himself.
Mr.. MCGEE. Mt signal from the District Attor-
ney conducted tho prisoner to the bar. Tho
Indictment. which accuses him Of publishing
and circulating n false and fraudulent state;
ment concerning the assets OF the International
Trust Company. read to him.
=" What do YOU plead, asked the Prosecutor.
guilty or not guityr 49,. =
Not guilty" answered the prisoner. in an
almost inaudible tone.
Mr.. siedler then advanced ana entered into
recognizance in the sum OF 5000 for the de-
PENDANTS appearance whenever no might be
required to stand trial.
The prisoner declined to make any statement
in reference to his connection with the bank.
but expressed his belief in his own ability 70
establish his innocence. He had fastened
had ascertained that he had been indicted and
he seemed anxious that his case should be dis
cutof intends V to Commences on Monday next
the trial OF Jennie r. Smith and Covert ID. Ben
net. i9r e OF ~ thnt cess 10 roacs
John Holland and James Donellan. the Presi.
dent and Secretary Of the insolyent Mechanics
aud Laborers' Savings Bank. it Is probable that
Hayt may not be tried until early in the fall.
Considerable Misrepresentation exists as to
Hayt in his indictment. Until yesterday morn
ing he himself supposed that he was accused
R Ge wRs %
Among the numerous methods OF adver-
the International Trust Company and which
Hayt was one which he had found by eHge;
rience was sure to engage the attention II IL did
not command the confidence OF every man and
woman to whose notice 1t could be brought 1t
was designed particularly and expressly 10
reach the family circle and TO constantly re-
mind the frugal houskeeper Of tho combined
profit and security to be derived from deposit
Ing money with the International Trust Com
pany. This advertising trick consisted OF a
S6;inch measure made OF narrow slips OF
were recorded. and on the other the following
advertisement was printed in conspicuous
corner Washington and Montgomery streets.
Jersey City. n. j.. is the only savings bank in
the security OF depositors." One Of these slips
is retained by the Prosecutor as evidence in the
Ths 6T HaY es ss sps
with Secretary Carr and Director Field. The
assertion that the bank hsd at any time paid
up capital OF 100000 was untrue. The con-
Germ started in business with capital OF
100000. OF which sum $4,000 was paid up.
The directors gave their notes for the remain
der Of the subscription and none OF these notes
has yet been paid. though they have all been
considerably reduced in amount by the action
OF the directors in applying a portion of their
so-called dividends to the liquidation of their
Indebtedness; subsequently the i company was S
500 000 and the money on this second sub
scription was all paid up.
Section l57 OF the Crimes act OF New Jersey
under which the indictment against Hayt and
his two associates was found. provides that;
se b sss or Or pub Smps 1 pss
make, circulate, or publish or concur in making crcu
which he shall know 70 be false IN any material parueu
lar with intent To deceive detraud nnv member
shareholder creditor any such body corporate o.
public company or with intent 10 induce any person "a
become shareholder or partner therein 70 inus, o.
advance property To such body corporate or public
company or 70 enter into any security Tor The benen
thereof shall be guilty Of misdemeanor, and being con
yeted thereof shall be liable. AZ the discretion Of the
Court imprisonment "A hard labor not to exceed
years, or fine not exceeding s40O or both,
Prosecutor McGnl anticipates that the de-
PENDANTS counsel will insist upon a strict anC
technical construction OF the language of this
statute. II the Court should hold that where
the section apeaks OF written statement II can
not be interpreted to include printed or ltho
graphed statement the prosecution would bt
defeated for lack Of law that meets the re-
quirements OF this particular case. Such
decision" said prominent lawyer to The SUs
reporter, . is not. however. expected and 1t 4
extremely improbable that the indictment will
be quashed on the strength Of an objection
based on mere verbal criticism. The gst anC
Rravamen OF the crime is in the falsity Of th'
statement. and the circumstance OF its beinI
written or printed Ia entirely immaterial. Tn,
spirit and object of the law Is manifest. though
its verbiage may be defective"
Secretary Carr and Director Field are In
dcted jointly with Hayt. 1t is supposed tina
Mr.. Field win present himself at the Hudson
Cnuntv Court House tO-daV