The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-05-07

$4,000. It was also found that about $4,000
OF the profits were gone. with no good secur-
ity to show for them. so that the banks STOCK
holders were out $91 .O0O Some OF these losses
had been outstanding for years.
Tho directors held meeting. and President
David r. Porter explained to the superinten-
dent that the losses wore very largely due to
the fraudulent acts Of Q former President,
Charles H. Pinkham. Jr.. and to his
successor. W. W. Van Voorhis. He said
that the directors were prepared to meet
the difficulty. and that they had under advise
mont . union with the Hamilton Bank. q
State institution nearly opposite at 278 West
125th street, upon basis which would satisfy
: tho Banking Department..
Last week the two banks agreed to unite
: after due negotiations and thorough exami-
nation OF each others affairs MI. Porter. tho
President OF tho Harlem Bank. was made
President OF the new institution. to be called
the Hamilton Bank OF New York. and to 90.
cupy tho Hamilton Bank building and dree-
rectors OF the Hamilton Bank.
PROVED Ssd Of The plan Of conss1idaton but to-day
he will visit the Harlem, Bank in person. and
Ss s BE WI II then Bsnf " Harlem
The new bank viii 5e SS50.oV0. Of which they
capital viii b $4,000 and their interest viii
;s% hs sss s p R'y ss
~ 'sS oss
Late yesterday afternoon Pinkham was ar;
rested Ct l2o
iG q the s% ~ ths Bsnk 81
Harlem by means Of the fraudulent, uso
for Hnd sSo these pa
ported to have been made By A H. Wood and to
On account Of his daring financial transaetions
IN stTee to S
gan tho erection OF what he said was to be the
mssS aan a tn the I'M Hns se st totes
Trough witch eonnsetion hsos large credit:
i.'!so pretonces. He was last hoard Of as ped
S Dssne attaohed TO the ]
q e; ss
:.s q 6 s IL low.
b. Win July H. 1885, hi s be 9a
FS:ts$ IN *: ssS:
day. credits himself with loan Of Si45oO and pro.
which check on ths National BANK was 5sd
Atths close Of bushes, ON Aug 1857 the ovsrarat 9
e. ns." account reduced as as0ve remained
IN OF: :s p,nkham len. him.e,r for his Sxn credit
ri: ss'. S
x sr 81. a ds5 81 .
@ s hi his w oh the he
Account s%Sx: sG.t ss,oss q bushes; "a.
Abstract OF also shows his account oyerdrawn
ana mi; ove,d1att no! made completely until
hs'j : q nsls 'S's
:@
~ tIe President to ne EonId loans to himself and
eSsSs Fst sfss;
%s oss
"na wSeh
have since remained unpaid.
=. B gd had been axed under the Indictment at
h1nds,maan He was l9cked up IN the TSmbs
had erred n hiss jads@snt A as to the
sponsible erimi naily. Ivory loan by the bank
matter Of in the bnks book
~ had aas tic
President Porter said last night TINT tho di;
tbe ban. itts Of Tinkhaii,. " Except that
he came from salem. Mass. and gave them
Nst!sns ths Fark BANK WPS Soth
soaf sns FSs FIssasSss q {Sssd
banks eavo him an excellent character, and
A. A. WAS sn'n mGoyea to rHn the new bank From
management Of affairs in Ills ' ban .hs eTf bey
maze MAJ h no , sp nt examinations Of the books
that they discovered that there We're ir rsegu-
I'VE found said NJ Porter, that ho had
esssye Gn friends to the amount Of SfO,U0I or
ted US n %ihna' q any psoe had
he had deposited as security notes Which
rroSsdb to o., be worth very little and In othsr
Shatsyr holi @co,iSs and n in sDSs seemy.
TYR We Vo rsiyea hl% Of oe ana eleei
bis was son Of on Alderman Bartow;' w" W .% Van
Sts sa As e. proI As is,MHlpf
sssstory assSsa .hat any S sueh iron sat fes
- hoped IT,. that. i. { Wv, Wo sSislaSai h Tim
sS% aGy Gs tsS ms w st H o. wS
aa.tterward Deposited with us :, securi-
us one-sixth interest in some p I,ere
erty. on st. Nicholas Avenue. which was
worth to US at tho timo .S25.OlO. a mortgage.
properly Of his wife. deed Tor sonio land ndi in
Sha a 1n Springs. and another deed Tor some
could get out Of him by June. 1880. and then
asked for his resignation. He resigned
on June ~. I was the chief ndvo:
him until We could squeeze everything pos
slbie from him. instead OF causing his arrest.
seemed to pretty nearly cover the loss We had
sustained through him. but there has since
peen skrinkage Of values 80 that now We
ations. '''0N"A '''e '''''
,"oi tho remaining loss about $40, 1000 was
aye 20 our second President. Mr. Van Voorhis.
While no was in onlco he lent great deal OF
S %i' money to his firm ard to Corporations
TIE firm, Of George 0NW%: ". Stetson 4
co. failed in June. 1901, there WAS