New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-06-13
GEORGE /. SENEY UNDER FIRE.
TIE LOANS TO HIS soN-IN-LAw's FIRM.

HOW HE EXERCISED MS JUDGMENT-IE THOUGHT
THE LOANS PROPER.
George |. Seney, once tho president OF the
Metropolitan National Bank, sat again yesterday
in Referee Coles office and answered ques-
lions put to him by his counsel, Colonel
Fisher A. Baker and by F. L. stetson who acted
for Freling H. smith, the receiver OF the Atlantic state
Rank OF Brooklyn The portly and we-preserved
ex-presldent slightly leaning forward and between
his he pressed his lips with the curved handle
OF n notwithstanding cane After Colonel Baker had
expressed the view that Mr.. seney should not be
mulcted in damages because securities lhed by him did
not turn out as well he had expected
he took up the subject OF those securities
esneeally those given as collateral for the $255O0O
loans made in 1888 to Nelson Robinson Co., and
charged to the Atlantic Bank Mr.. Seney did not know
whether these securities belonged to himse they might
have been purchased by Robinson & Co. for him. He
said It was May 15 1884, when he had conversation In
his office with Mr. Denton, OF the Atlantic Bank Mr.
seney was then no longer president OF the Metropolitan
He had taken the securities from the vault to which he
alone had access and had transferred them to MS private
Office for the convenienceof those calling to settling
nccouns lie was then attending to the business OF
the bank
tan Rank was the Atlantic entitled to draw on you TO
the amount OF the deposit Ayes ~
0-Expain how 1t was that you said you could not
tell whose request the loan OF August - dooo, was
ODD any Of those loans go Immediately to your
o"what did you mean when You said the other day
that they might A-They might come TO me tn aS on
the money after getting u from he Sa a the onsy
T. TO be sot Robinson a@ aOs co 10 tho ''
ns there any way OF distinguishing the amount
belonging to them those they might hold AS col
ohre YOU then able to determine the ownership OF
any of those securities deposited in the Metropolitan
A-NO They all came from Robinson x 20.
Odd you have charge OF the loans of the Metropoi
tan how taken and by whoml Ayes.
O-What was the average amounti A.-For the year.
including dscounting about $l20OOOOO Exercised my
yInes when there was a heavy tax on notes think
banks generally did-to make loans without taking
o~Customary in other banksi Al do not know
Q-What authority had you from the metropolitan to
loan money standing to the credit Of the Atlantic Bank
Odd you at the time consider these loans proper
| the security furnished Al did
Odd you have considerable knowledge Of the value
OF these securities aside from tho market pricef Al
Mr. stetson took up the redirect examination.
| Q-You say you don't know how these securities
purchased by Robinson 4 col AThey were of the
kind dealt In couldn't Identity them ala not thinE
of It at the time whether these were mine or not
| don't think they came from any other source than
| through Robinson Co. A. ,., ~,
know that you were the only having to the
particular compartment containing the securitesi A.
| don't know that any one besides myself knew the
Q-IIave you any specific collection at whose request
the loans were madel A-No. They were made by per-
| mission OF Mr.. Pepper. .
persistent pursuit Of the subject by Mr.. stetson
| failed 10 give him Information as to when Mr. Puher
gave the permission Mr. seney said he could not tell
whether one month or one year before tho loans
| were made 90. A..
Mr.. stetson-Give his language Ale said to me to
loan money for the Atlantic Bank gave him TO under
stand would do II. 1 can't give his exact language
The took place In the bank during banking
hours lie used to stop in every day and talk over the
| Atlantic Bank matters -
Mr. seney next said that while he the president OF
tho Metro potan he interested In the East Tennes
see Virginia and Georgia aud the Central OHIO Railroad
companies He did not act general or special adviser
for Robinson Co. He did try TO keep himself informed
OF the bonds OF the railroad companies mentioned
Mr. stetson-rhey got away from you. didn't tney
| A.-Yea.