New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-09-19
ARREST OF a BANKER.
rtIARIES F. PHILLIPS CHARGED WITH
EMBEZZLEMENT.

.ccrsro OF NRoHGDoING WHEN HE WAS rKEsI-
DENT OF THE COLUMBIAN SAVINGS INsTI-
TUITION IN THILADEIPIi!A-TAKEN INTO
CUSTODY IN HIS wALI-sT OFFICE
IN THIS CITY-HE DECLARES
THAT HE CAN READILY
CLEAR HIMSELF.
Charles Z. Phillips. a banker and dealer in rail-
ro,d stocks at No. 40 Wall-st.. arrested yes
,erdav afternoon at his Office bench warrant
signed by Philadelphia judge. based on an indct-
mont by the Grand Jury of that city. charging
him with embezzlemcnt and incorporation of
n large of money. The case Is an old one re-
vived and recalls the failure of the Columbian
Bank of Philadelphia. a savings institution. in
1851 Mr.. Phillips the president OF the bank at
that time, and simultaneously with the failure of
the bank ii is alleged the banker disappeared. and
Il was then found that large sum of money had
becn taken. and IT charged that the missing
hank president had the money The amount taken.
the detectives who arrested Mr.. Phillips yesterday
said was In the neighborhood of 100000. and 1t
vas declared by some Of the persons back OF the
arrest Of the banker to be fully 100000. After the
hank failed. it said. Mr.. Phillips went TO
Europe.
The arrest of the banker was made by Detective
co,nsr of Philadelphia who has been here several
DAYS In consultation with the officials Of the Dis
,ic-Attorneys office and Detective sergeant
Nucent Of the Central Office. Evidently the
banker had received no hint of the Philadelphia
criminal proceedings against him. as he was much
surprised when the officers walked into the once In
Wall-st. and Informed Mr.. Phillips of their mis-
elm Mr. Phillips was allowed to talk over the
case with W. c. Boone. his business associate, ana
The TWO sent for Mr.. Phllpss lawyer r. W.
Grout OF Brooklyn. After a consultation all 'he
men went to the District-Attorney's office, ana
there il was decided that the case could be best
D,i laH lpbi
he was entirely willing to go to Philadelphia. ana
that 1t would not take long 10 convince any laH-
minded court that the charges were aosoiu'e'
false Therefore, on his suggestion, the fhlia-
delphia detective took his prisoner TO fh'iauei-
mia on the 2l5 train. Mr.. PhilliDs's lawyer ac-
companed him.
Mr. Boone Mr. Phillips's associate in the bank-
ing business at No. 40 Wall-st.. was highly IN
dignant He declared the arrest was an outraee,
ana pronounced the charge against his partner as
most absurd. The whole case. he SAD was oas S
on proceedings brought against NILS w. tsdI IT, nI
was associated with Mr. philips. Henr! . co. Wr
others in the opera lions Of a syndicate; After WI
ivess death Mr. Phillips began proceedings ag Y Ms
Mr. Barse for an accounting in the estate OF MI.
ives This proceeding ncensed Mr. Barse, ana a. ne
took this means it was hn,ed IN 9r ern aain.t
ence the civil action which had peeh ors un ne
him by Mr. Phillips. Mr.. Boone denounced tnS u
method that had been PURSUED N That there ha
been no embezzlement. After the tr0upies % az ny
aesad i bu remained in Phadelpha for sev
eral months He then went 10 fa1is Ei.et -
,r,. and went into the business in wall street
which now engages his attention He went ire
ouentlv TO Philadelphia, and there mad been no d
fernnt on his part TO keep away from the authori-
lies there. His daughter is now in that CITY, re-
ceiving her education. ,, - IL %
Mr Phillips is said to he wealthy nan re rfrst
ahou, fiftv-ive years old. and lives at NO 20 fIS'
place BROOKLYN. where he has a handsome nome.
lie is tall man OF fine appearance. Amons in b
dnals with which Mr. Phillips was Interested VIZ.
Nr Barse Henry 5. Ives and others was thdII
bv which the Herkimer Newpo-t ana roam h,h
Railway was sold to the Adirondack ROADS Wnlch
" seward Webb built. and which now consttrmhte
a division of the New-lork Central sys'S; ar o
Railroad control of which was secured atItr
tnterest and i'm the Cleveland, Akron ana to!uiil-
nus road about two hundred miles long IN one me
Ohio coal regions. which connects with the ohlo
southern The Ives syndicate also was prom,nem'
;n Hoating the Peninsular Car Company. manu-.
Sac,uring company which was put on the inarKe'
few years ago. Henry 5 Ives dieh Cd iass irPri II;
an snu sunGicate in Wall Street Mr.. Barse one OF
The members Of the syndicate is the presi9ient OF
q hank a. olsan. y " and a prominent 4uInbfi
merchant Of Buffalo, ~ Y