New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-10-26
MIR. SELOVFR FREED ON BAIL
HE Is THE EIGHTH MADISON SQUARE BANK
DIRECTOR ARRAIGNED.
THE ATTORNEY GENERAL T. MOVE THAT THE
EECEIvERS RE MADE PERM HE
INDEBTEDNESS TO THE ST.
NICHOLAS ENNK.

'nafleS t. SclONer, til' hH'''''
square Bank who was arrested IN F"ssalc
Monday night came to this city yesterday win
his counsel Franklin Pierce. ana pel'C''c 'r'-
geant Valley. District Attorney NicoiI "an VIII
ten TO Justice Ross. who cominlttci 3e'"''' "St'-
ing that the director be allowed to come 10 'hls
city. Daniel y. Lawson. builder. was accepted
as the defendants hOndsrnan being owner OF 40.
= West Observation-Disclosures when Is worth
5000 Frederick \. Kursheedt. the only director
who has not yet appeared in court, Is sun i" a'
his hotel.
4 dispatch was received from Albany saying
that the Attorney General would make Application
here tomorrow in the supreme Court Tor inc APP
pointment Of permanent receivers for the panK'
and for Judgment for the dissolution or the co'po-
ra ton the time for the defendants TO answer nav
ing expired on Saturday last
The work Of the receivers Of the Madison square
Bank in examining the character Of the assets ana
securities Of the bank pushed as rapidly az
possible yesterday James g. Cannon one OF the
receivers said late in the afternoon: lhere =
little say We are hard at work, ana mop" 10
get things in such condition soon that we NAY
know pretty nearly what value there is IN the
bank
MIXED WITH DEMOCRATIC POLITICIANS.
To what extent Democratic politicians received
ravors at the Madison square Bank simply he-
cause they were Democratic politicians may ho'
be known until the cases IF the arrested oH'''"'S
come 10 trial II Is known why tllot bahlo''l'
the State Treasurer obtained a loan oi NT'''
He got it because ~ pat s9-po0) Of tho state money
into the bank. and a portion OF TINS money WIS
not put I'm until after the State Bank Examiner
had found that the capital 81 the bank was I'M
paired. But how ev-State Treasurer Lawrence ~
FITZGERALD. Judge Miles Beach, Edward : H''A'S
and other Democrats obtained favors ON IN" Secr-
tiles given by them IL known only 70 the man
ayers Of the bank The Madison square Bank was
q convenient institution for the Democratic state
Committee and IL was used by the IneHierS "l II
20 a considerable extent some Of the irl'n'9 Vl
Roswell T. Flower who has been looked ui''" ~
"A pretty shrcwd hnancier. although ne u KNOW"
to be an exceedingly weak Governor, are wonder
ing what the influence was that mpeHel hhl 10
put money into the bank AMI become on" 81 its
Stockholders Ii never has been known that Mt.
Flower purposoly squandercI money, bit u" -
liberal political contributor. and when ne loon
this stock it probably was don" because he W'nsh'
that it would help him with certain p"l1''Nh7
who were running the bank. How much his maine
was traded upon and uscI by those who are
known To- have received lavors is not clear.
The development yesterday In connection win
the bank was the announcement that the -.
$4,000. III" officials OF the - Ni'""nS ','n.Ni
however. said mat ne los M"u.n ",' crs.,ttor
in this way.
DEBT TO THE IT. NICHOLAS BANK.
The 81 Nicholas Bank was the Clearing House
hank for the Madison square. and as such held
about $4,000 Il gilt-edg" securities to cover any
,,,ssitle claim winch Il might have against the
Madison Square FOR check- that it cleared for H.
1t was known Ia wall S'e'' on wv 49,, ...,
August last that IN. M".ss' ,t.,L -.rt on
ia uy-n'' ,b IT. Snr,li not clear any further f9r
the Madison square. IBIS notice sent me- '4e'''nb
House Committ." up t. ~" Madison ''it'I' no
make an Investigation. win M l'f '' .'i'''.1
II tHl'"sh u. '".,t.,',' .,,, t,s arnir. I'M. con-
sl-tHhce "pI'' ,I -, H.. III f.lI.t paufotfh.
naI been raNiiiF hif'tii.4
me Stl = ,,,, r -, ,o. directors All uf
WIN l.. ' -, ,.i rn,le, win whlch 20 carry
his o,n loan Of x.lut became frightened. AMI iA-
ms o"'i '",' ,,,t ,h. -f.t.,. deposit s1ppl
49,, ty5.rt~x i-hlunun tn, treasurer 81 the East
~. 49,, '.,r,,'.n, insisted Ou fakIc olf
I..,,s, ~ his c,rntapy Ss,.YJ The checks would
-. ., -, fbro,.'h The clearing House the next
NM ~, ,,irt,, u,.,s. ,'0.ullftrc seeing that
~ much none Was ~ be- drawn osi at once. doc
,,,,,.,.f a., -t r.. ia. - %islOiah Bank. rflhf
triilh' 70 So mn t,,t n.irl. 10000 90. tar
r., ,',,,i. 80 ne t,,lk Tn. next morning ft-
D. - ,..,.. ,,,f frr.rlru tr. ST Nirnplas