The evening world. [volume] (New York, N.Y.) 1887-1931, 1894-07-19
THEIR BONDS WORTHLESS.
So Says Receiver Sickels of Har-
lem River Bunk Officials.
Defends ii mself from Criticisms of
Depositors.

Col David 4. Sickels. receiver for the
defunct Harlem River Bank. was some
what indignant this morning at the ac-
ton of the depositors and shareholders
OF the broken bank at meeting held
last night. at which 1t was openly charg-
ed that the receiver was endeavoring to
protect the officers OF the bank and that
outsiders had obtained access to the
books, while they .were refused even a
list of the depositors. They also at
tackled Col. Sickels for not endeavoring
TO bring Bookkeeper kean back from
Canada, and hold that he Is unnecessar-
lily slow IN winding up the affairs of the
institution.
Il do not want to protect any one"
Col. Sickels said to an Evening World'
reporter to-day. III any If these de-
posters will show me evidence incrimi-
mating the officers Of the bank l will
help them TO secure IA conviction.
Col. Sickels then Went on to tell some
of the unpublished history of the bank,
which, on the face of IT, seems to put
some of the bank officials in n peculiar
position He said that when he entered
INTO possession he found that the bonds
OF all the officers of the bank were al.
most worthless. At the outside he did
not believe they were worth more than
10 cents on the dollar.
The American Surety Company of
Baltimore, which failed last Fail, was,
he said, the surety tor the bank otti-
GERS. He had sued that company with
unsatisfactory results.
The officers of the Harlem River Bank
had. he said, all been bonded under n
so-called schedule bond year ago last
was done to secure new bonds In a
solvent company, yet the bank con.
tinued on in business until April rs last.
when its doors were closed by State
superintendent Preston. During all that
time there was not one cent of avail
able security In case any, of the EN-
ployees went wrong, and when Kean dis
appeared with 10000. there was no com
pany ready to spend enough money to
bring him back.
Il am perfectly willing to assist them
in any way that is possible, but ! can
out an order from the Court. They
complain that nothing has been done
about Kean; ] cannot personally bring
the District-Attorney, and l understand
him.
bank | am doing II as rapidly as is pos
sible. When ] took the receivership ]
recepted for s34s, 42j,5s available assets,
great deal of this was n outstanding
paper. In sixty days | have collected
$4,000. and have declared dividend Of
20 per cent. payable July %. Some notes
fall due the latter part Of August: !
cannot collect them before they are due
As business men they should know that
1T Is not true that | refused them "A
list of depositors Three gentlemen
called on me just as I was leaving town.
and requested them to call again. one
did so and said they We're going to
form an association and wanted a list
of depositors. l replied that wished
to consult my counsel before furnishing
the list"
NJ. w. I.ibas, of 40 Nassau street,
member Of the Committee appointed to
engage counsel and bring the matter be-
fore the Grand Jury. said the Committee
would meet tomorrow. lie said mat
they had evidence that President Robert
GIN had advanced money on third mort
gage. and had also received a deposit OF
s4,JOJ after Supt. Preston was in charge
OF the bank. They would recommend at
the meeting of the depositors TO be held
next Wednesday, that these facts be laid
before the Grand Jury.
Mr.. Libas said lhat it was apparent
that the officers did not want kean
brought back for fear. he would make
statement the tendency OF which
would he TO implicate them.