Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1888-03-26
ROYCE AND THE INGRRSOLLS.
The New York End of the Wfllimantic
SavfnUm Rank Loans.

SAVINGS bbAhA AOAABs
NEW YORK, March 25.-The irregularities
of Cashier Fl. R. Royce of the Willimantic
Savings Institute were known to a few men
in this city months ago. A gentleman who
met Royce in this city four months ago said
he told him then that he had discounted notes
for the Ingersolls to the amount of 5000, 900
and that he was nearly crazy about it. The
Ingersolls referred to are Lorin Ingersoll,
who few years ago was supposed to be a
millionaire, and his sons, John E. and James
H, who were the proprietors of the United
States Stamping company. The dispatches
from Willimantic say that Cashier Royce lent
$40, 900 on the property of the United States
Stamping company at Portland, Conn, the
security for which was very slender.
In July last Mrs. Rebecca Ingersoll, wife of
Lorin, obtained judgment against the COM
pany for $685. The property at Portland,
it is said, was sold out by the sheriff on exc
cution of this judgment, and was bought in
by Mrs. Ingersoll for her claim, and the Port
land Stamping Works was the style used to
continue the business. Lorin Ingersoll, it is
said, managed the business by power of at
torney from Mrs. Ingersoll. week before
Mrs. Ingersoll entered judgment against the
company the company gave two chattel mort
cages on machinery, stock, ETC., one in favor
of the Potter & SGymus Manufacturing com.
pany for $50, 702, and the other in favor OF
August Potter for $4,000. Numerous
judgments have since been entered against
the company by various creditors and it is
said the claims against the company aggre-
gate ever $500, 000 Last December Henry
w. Bates was appointed receiver of the COM
pany.
At the county clerks Office the judgment
record shows upward of seventy-five JUDI
ments against Messrs. Lorin, John E. and
James 81. Ingersoll, aggregating about $780,
600, principally on notes and endorsements
Among the banks which have entered judg
ments against them are the Columbia, Orien.
tai, North River, East River National, St
Nicholas and Germania of New York, the
Grand National and Spring Garden of Phila.
delphia, the National Bank of Commerce
Third National and Farmers and Mechanics
of Buffalo, the Farmers and Manufacturers
of Poughkeepsie, the Old National bank OF
Whitehall, N Y, the Bank of Attica, the
Rhode Island National bank and Wlnnebagc
National bank of Rockford. Ill.
WtLLIMANTIc, March 24.-The report that
H F, ROYCE treasurer of the WillimantiC
Savings Institute, had fed to Canada is nc
doubt untrue. Inquiry at the institute elic
its the information that Royce went to New
York last night to see about securing a set
Element with parties there whose paper is
held by the institute. This looks as if the di-
rectors were trying to save as much for the
depositors as possible before taking steps tc
arrest Royce. The savings institute il
crowded to day with depositors demanding
certificates on which to withdraw deposits
four months hence. They are all accommo-
dated and assured that they will not lose
more than fifteen per cent. and perhaps only
part of that. The chief credit for unearth
ing the Royce nest and rescuing the bank
from wreck belongs to ex-State Treasurer
Edwin A. Buck, who accepted the position Of
president in June, 1886, soon after which
Royce's transactions began to be discovered