New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-18
THE FIRM IRRETRIEvABLY RUINED.
EFFECT OF ALBERT ii. SMITHS foh'hhirS- OF
CURITIEs WHOSE VALUE WAS RAISED
AND WHO HELD THEM.

An
Albert H. Smith, the story of whose systematic and
lonc-coniinued forgeries Of railroad certihcates was
unfinished Yesterday was arraigned yesterday morning
in the Jefferson Market Police C0urt The arraign-
mcnt was only a formal one, the detective VINO nan
Smith in charge saying that the case was not READY
for presentation. jude German remanded shhth 10
prison until to-day at = p IN.
Two hours later the announcement was made IN inc
stock Exchange Of the suspension Of the firm Of Mills,
pohoson g. smith. OF No 90 Broadway, brought about
nv the forgeries of the Junior partner. In the
confusion OF the wreck one fact is manifest.
The entire assets of the firm ana OF om'h
individually will suffice TO meet fraction only oi 'nc
liabilities Just what the percentage will be cannot
vet he determined. The Office of the hrm ana thae
NJ their attorneys, Demlng Logan we're beSe1ed
with creditors yesterday seeking more definite infor-
nation Of the disaster.
The general assignment OF George H. Mills. viii
lam p Robson and Albert II. Smith to VIII am a.
vatson the ca sber, who discovered the f0g,rcs on
Friday was filed In the County Clerks oice yester-
day morning. Preferences were given to Edward ,.
sanford OF South Orange. for $4,000, and James H.
Fav OF No IL Pinc-st for 81. 900. The assignment
OF Mr. smith filed In the Office OF the County Clerk
of Kings County. II turns over all OF Smiths prop
crty 70 Arthur +. Walradt oil NcwltochelIe, West
chester County as trustee for the benefit OF smiths
creditors The instrument drawn by Demng d
Logan on SATURDAY, November IS, and was witnessed
by Alfred Lockwood Brown.
Mr. Clark Of the law firm Of Demlng Logan was
foupd a. his Office No SO Willlani-s yesterday after
noon "The full details Of the failure Of Mills, Robe
son & Smith, said Mr.. Clark, cannot yet be given.
as the investigation is incomplete The liabilities OF
the firm, due to loans which stocks and bonds
were placed as collateral, amount to 100000 There
Is also 100000 due to depositors. The assets in
cudc stocks and bonds pledged, S350,000, aud other
property S35 600 OF this stocks and bonds 10 the
amount of about $4,000 spurious. Mr.. Smiths
private liabilities about Sl40000 to meet which
he has property worth something less than $35 600
The firm is absolutely and irrctricvably ruined A
meeting Of the creditors Of the firm will be held in
| this office tomorrow at p. m. am told that
meeting of Smiths Individual creditors will be held
on Wednesday,
Mr. Clark declined to give list Of the banks hold
ing the forged securities, saying that 10 do so In the
present unsettled condition might work injustice
TO the cashiers other officers Of the banks You
will be safe in saying added he, that in the six
years during which Mr. Smith has heen practising
his forgees every Bank in this city has handled some
| OF these securities"
| A statement BY Smith OF the stocks frauducntly
raised 10 ten times their value and pledged for loan
on his individual account, shows the following securi
| ties to be held by the institutions named:
Nassau Bank. Brookyn-Eight shares Illinois Centre