New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-06-20
NEW YALE LAW SCHOOL.

Danforth on the morning Of August lie met MI
Danforth at the Chase National Bank which was
ore OF the Clearing House agents Tor me Mh'hl'''"
Trus. Company MIR. Danfor;h broacAHi inc F''Jo''
of opening a general account with the Mahna''in
Trus, Company Finally he cad that he would
nail q check for $4,000 or $4,000 from Albany the
same day The witness denied that there was any
thing unusual In the transaction
Frederic d. Tappen president OF the Gailatlh Ma
,ional Bank and member OF the Clearing HOUSE
Committee at the time OF the suspension Oh NV
Madison Square Bank next examined lie went
over the s;or;. OF the examination by the 'iear'ns
House Committee Of the Madison Square Ian" Al
fairs Ire witnesses impression vas that the COM
ri,ice did not even look at the loan book presented
10 them but took President D!auts assurance 'ha'
the loans were covered by proper security
The examination of Mr. Ryan was then resumed
To f,r,qhe1 details Of the collateral held by the
rocai,,ers Of the Madison Square Bank TO secure
payment OF the SOS l5S s5 uncollected loans me oo
a,, Of hts testimony being to prove the insolvency
Of the bank.
James NJ Donald cashier II the Hanover Natohai
Bank. testified that in August. 1856 the East RIVER
priAro COMPANY had an account with the Hanover
National Bank The examination had not procee1el
far whom Mr. Jn;ermyer for the receivers 81 ,ne
Madison Square Bank. drew the referees atte"1V ,
ness. Mr. Donald declared that he Ola NOT know
whether Frederick tnlmann "d io paSmitcl now
ever after good deal OF confusion Snat ~. .'c
bat
s ajib The COMPANY Early on the morning Of
August TO- he said. in answer 10 searching question:
Nj Uhlmann presented at Ms DanK G'e at "a ne
vtnsse TO but il through the exchanges that morn
ing Accordingly he put through tme an tx
check in question dated the previous day, Az
gust and - was the deposit slip ACCOMPANYING II,
The next witness was Frederick thlmann: VINO
80 not or,v n director OF the Madison square
Rank but also the president Of the last NV.
bridge Company The question Of tne $500 gn'C C
was introduced. Did you draw that che'" oH
Hicusf o. asked Mr.. Untermyer
no / drew II on August s." replied the witness
proAngPey the Clearing House Committee had LETT
the bank"
ANA when dh General Wingatc one treasurer OF
tho East River Bridge Company sign IL
the same night between Il and u O'clock
" ha' W. u nv dutv to the stockholders % the
Fast river Bridge Company to secure mat deposit
~ possible. ~, 800 ,,,o. ,,ot tho Madison
Square Bank would not open i's doors Inc io"'"-
"a" Il WA was firmly convinced that i would no.,
And ld you not consder tnst 9 70" 0"'' any
duty 70 the deposltors IN that DahK!
ION, yes. sir" &c.,, -, 800 Ia
az east he performed his duty by one de-
,ositor SAID the referee dryy.
II vas developed that the Witness brother simon
T-h,nann had the same occasion W,tH ~, y"
tbe Jepos; OF the Glen Ridge quarry ana Mih'hg
Company Of which he was president lis me-, ,t
had been pregented by the witness along WIN we
other one on the following morning ana h"u I'VE"
r9 esel through In the same way. . 49,,
Fdpnun1 ID Randolph. president OF the Cohu-
mental Bank was next examined az - the circnm-
stances under which that concern became Inc IT.
Geor2e G Williams president OF the Chcmlcai
Bank and Of the Gearing louse Rss2clnt''n -
tee in removing the securities already mentonci
from the Madison square Bank was '4hei WIN
tn object Of protecting ne - N'enoias n 20
The hearing then adjourned until 1919 'c'ch
morning