New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-05-07
ANOTHER BANK ROBBED.
Continued from First Page.

Continued from Frst Page.
but the bank was unable to realize more than $4,000
for it. Mr.. Porter also declared that Plnkham
had made loans to different persons on insufficient
collateral Most of Pinkham's transactions are
said TO have been made between the autumn OF 1889
and March, 1890, during which time Mr.. Porter
was in Europe.
Mr.. vAN VOORHEES, PART.
When Pnkham retired from the presidency OF
the Bank of Harlem, w. W. Van Voorhls
hecame acting president, Mr.. Porter becoming
president on December 10, 1890 Pinkham mad
lent moneys Of the bank 10 Van VOorhis anu
had borrowed money for different firms in when
the latter was interested, in many instances the
bank suffering Losses. One Of these concerns 10
which Pinkham lent for Van Voorhis the credit
~ fine bank was the iron firm OF George W.
Stetson & Co.. which became bankrupt about
six months ago. The bank lost on demand loan
Of $4,000 to this concern. After Van WORMS
had retired from the acting presidency, he
still remained director and was considered
to be in good standing. IL is alleged by
the bank officers that Van WORMS one
dnv went TO the bank and took out of it some
railroad securities which had been hypothccatcd
by him under the prcteyt that there was to be
TO exchange the securities AZ required by the con-
soidation The bonds never were brought back,
Mr. Porter says, and he declares that Van Voorhis
IL n fugitive in Mexico. Other improper loans
are said 10 have been made through Pinlham and
Van Voorhis to the South Brooklyn Engine Works
and the firm of Smith & Van Voorhis
of Philadelphia. Mr.. Porter estimates
the los, to the bank through Van
Voorhis's operations at $4,000. This, and
the estimated loss of SAC. 900 by Plnl<ham's opera
tons, represent an impairment of the banks CAPT
tn of about 100000. The total amount which
has been charged of TO profit and loss account
is $73,3O2 81. Mr.. Porter explains that the diff
ference is made up by charging off all doubtful
assets. which was done when the Hamilton Bank
managers agreed to the consolidation.
MAKING GENERAL DENIAL
Pinkham, when taken to the District-Attor
neys Office, made general denial Of the charges.
lie declared that it was strange that tine bank
should take this action against him after two years.
and when the directors had known the clrcuni-
stances all along lie said that he had collected
everything possible from Wood and BrescI to pro-
tect the bank on Woods note. lie got Bresers
house in Seyentysxth-st, and sold it for $4,000,
and obtained more money for the bank with
Woods watch and jewelry. He asserted that all
Pinkham lives at No. IL West One ,hundred-and-
thirtieth-st, with his wife and six children. His
wife Is esteemed by those who know her, and much
sympathy is felt for her in her trouble. PINK
has always been considered responsible business
man He is about forty fvc years old.
A. H. Wood, who, IL is alleged, was used ny
the Bank Of Harlem, Is The young man who, about
two Years ago. projected u theatre on an elaborate
scale NJ one hundred-and twenty fourtl-st. and
SeNcnthaYc., but never carried his cXtravagant |
schemes beyond hole in the ground His scheme. |
however Is said TO have gone far enough seriously
TO deplctc the fortune OF his tather-in-aw, Mr. |
Brcsler.
STATEMENT TO STOCKHOLDERS.
In "a circular 10 shareholders of the Bank Of |
Harlem President Porter and Vice-Presdent Will |
lam 5 Gray, a committee. say with regard 10
the reduction in the net valuation OF the capital |
OF the bank: Your committee Is confident that |
a portion of the sum charged Of will suhse-
quently br recovered and all sums recovered
will he returned TO the shareholders now Of
record The stockholders of the bank are IL |
vitcd 10 share the advantages Of the consoda- |
ton by contributing pro rata with their present |
holdings an aggregate of S73, 900 70 restore the |
original capital OF 100000. The consolidated |
capital stock will be either 100000 or $2jO,OOO, |
a. the stockholders of the Bank Of Harlem may |
determine by rejecting or embracing the oppor-
tanity OF sgbscripti9n The condition Iaa OF ,ne
chargng OIL the losses caused 10y former manage
mcnts
RESOURCES.
sp, . end d isG soa '2fsfS % %
an ,o hand ani WIN Clearing egcntj 27pso So
sl7o,s05 %
LIABILITIES.
s al'r,' and check. .. 1880 -
sa7O,3o5 80
The Hamilton Bank as consolidated, will have
Offices al 40. rs West one huudIcI-and-twcniy |
tith-st. BY recommendation OF Presidents F9sdek