New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-06-04
nToRGE I. sENEY TESTIFIEs.
nm HE OR HIS BANK MAKE THE LoANsi
~uv Slit OF THE ATLANTIC BANKS RECEIVER 10
RECOVER $235,000.

~,,, CRIT OF THE ATLANTIC BANKS RECEIVER TO
RECOVER S235,0O0
George I. Seney, the former president OF 1iie
uetropottan National Bank, sat from to p IN. yes
terday in Referee Hamilton Coles oihce anu
answered questions put to him py r. w
.on. In the suit of Freling H. smitn, as as,
cever of the Atlantic State Bank OF brooA ,sas
70 recover S235, 0OO This sum, Mr. sInlIn Aso 20 .s
loaned by the Metropolitan Bank on "o'v ,'s .to+
BROOKLYN corporation The Metropon,au 90. 80 an
A. was loaned by Mr. seney individually ""u NV - g.
omeer NJ the bank The loans, when were niauo ~
,eeo ors ma follows: August 2, $4,000; August ~
eo- 900. August 10, $4,000; septemoer To-
g. 600: december 10, $4,000. The loans were
Credited TO Nelson Robinson Co., and were chargeu 10
the Atlantic Bank ., -,
enevs methods OF efectng the loans and his general
plau of conducting business The slips on which inc
entries OF these accounts based In the noteeer
hooks were given by him president he sad and were
Official He had doubt that the securities on winch
the loans were made were some Of them his own
o-Do you know what ones A.-NO l had no means
Of knowing whether they were all mine. have no
doubt that they lsft them with Nelson kooih
son & Co.; they held good many hundreds Oh ooi''S
worth OF securities Of mine
o-Can you identify the occasion when you nrSe re-
seyed that bundle of securitiesi A-No SIR nave no
recollection They were there long time. Ireceived
them from Robinson Co. as collateral on loans lhoy
were all in my hands as collateral Oh io"n'
or on loans about to be made, and was 10 turn
around and make loans or borrow on the
account was their agent with general discretionary
power The securities were kept In the vault Oh .ne
METROPOLITAN Bank until May Ii, 1884, at least MI
Denton [Cashier of the Atlantic Bank then called
o-Yon took the securities from your own private
room and gave them to hint Ayes. Ihey h"u oeol
taken from the vault before must have taken theh
ont myself as was the only one having access TO the
There were other securities there, too.
o-Why did you take them from the vantsf A
Ido not know why they were brought to my private
oce except that they we're all brought ont so that pr
ate parties calling could be Informed regarding their
sesurities They were all my private matters not be-
Ranging 70 tfe bank They remained IN the same ell
yelopes as when III the vaults. There were hVe en-
velopes and on them was written Loans to Nelson
Robinson & Co., for account OF AtIahue olaIe
Rank" so much money IN my handwriting
Tho Atlantic Bank deposited money with
the Metropolitan. The Atlantic was not member
Of the Clearing House, the Metropolitan was
Odd you ever know Mr.. Pufer or Mr. Denton to
draw check the Metropolitan Banki A-Not as
oWhat did the note-teller do with the accounts for
The Atlantic Bank Ale credited them 10 6oollson
When put name after credit 10 went TO Eoplhsoh
"o~gond an examination of the noie-teller's credits
show that sucn entries were made Al 'ne cI0ui'
we" 9po You know whether any of these FIVE loans
YnSney as distinguished credit was paid to Robin
o.W0n credit and not cash A.-No.
O.
Usher McGourbey who had been sitting by Mr..
Sency's side, disappeared ana returned WIN the noe
tellers book. Mr. seney explained lhaI inc ehoIcs
passed the noteeer to the cheekclerk and thence
10 the h0OkkcepeE ,, r.
before they were charged to the AtanlG baiaA
ton was with the note-teller alone. gave nm SIPS
with information to whom to credit them The cheek
clerk subsequently made the entry.
Mr. stetson then took up the FIVE loans IN succession
As TO the first credit to Robinson Co., S1OpOo on
August o Mr. Seney had no doubt but that part OF me
not know absolutely. There was a"strong pI0DaDinly
in the direction regarding the cIedlt VI oVOOO Oh
August z. , -. A., ..,.,.
Bank on that dayl Alt may be-
Q.-Were you borrower OF that bank at this time
A.NNo. ,, =, r.
borrowed money Of you 900, and you had drawn
Atlantic Bank for loan OF SoOOOO ana theh nad
drawn $4,000 for yourself would II not appear In th7
way Alt might not necessarily
Dwight 1t not so appeari A--fes. -. .. 80. e.,
Regarding the other credits Mr. senay sald 10 was IN
possible say whether any part OF particular one Ven
tie loans Voluntarily MI Robinson or Robert sehSy
or MI Puer the president OF the Atlantic Bank might
sagSestad them himself lie could specify no
particular one. George seney jr, had nothing 10 90
with the loans. Mr.. seney sad that ne was SeHor|i5
fn debt to Robinson Co. He was interested IN tue
firm partly, as two OF the members were his sons .
O-Wonid not the failure OF Robinson q 60. on Nay
il, 1854, have involved your own IalIuIo Ales ST.
Their failure long before that time would have en-
barrsssed seriously assisted In carrying Robinson
& Co. down May. 1884. -,
the use OF my securities to borrow on suppose you
would call their transactions speculative.
Mr. ste,son sa H goo S so @ In price by May issl
that tho Metropolitan Bank shouId nave caleu tnein
The hearing was adjourned until June H.