New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-27
SHORT IN HIS ACCOUNTS.
TREASURER MORRISON OF RENSSELAER,
COUNTY ARRESTED.
THE CHARGE AGAINST HIM is MIsAPPRoPRIATING
$4,000 DUE TO THE CITY OF TRoY-HE Is
SAID TO BE INDEBTED NEARLY 100000
TO THE coUNTY-HIs PROPERTY
TRANSFERRED TO HIS
TRANSFERRED TO HIS

SAID TO BE INDEBTED NEARLY 100000
| TO THE coUNTY-HTs PROPERTY
TRANSFERRED TO HIS
/ BoNDsMEN.
Troy. N. Y. Sept 26-George H. Morrison
| Treasurer Of Rensselaer, County, was arrested
late this afternoon on complaint Of Chamber
lain Morey of the city Of Troy. The charge Is
msappropriating $26. 900 due to the city from ex-
else collections Mr.. Morrison this afternoon
transferred to his bondsmen real estate and Sc
curitIes of the par value Of $3o6000 and esti-
mated to be worth not less than 40 cents on the
dollar His accounts show that there is due to
the county nearly $3OOOOO S1S00O0 of which 10
in the new Court House fund. Mr.. Morrison has
been County Treasurer for two years. The
Board Of Supervisors will meet on Monday to
take action. There are ten bondsmen. The
amount Of the bond is 100000.
Rumors have been current for several days
relative to the financial soundness of the County
Treasurer The rumors first gained strength
when the National Bank Of Troy, OF which Mr..
Morrison formerly cashier. suspended pay
ment last Saturday. Mr.. Morrison then said
that he had on deposit $4,000 OF the county
money in that bank. Then came the demand by
the city officials upon Mr.. Morrison for S36,OOO
due to the city on payments for licenses under
the Raines law. There had been controversy
as to whether or not the County Treasurer was
compelled to pay over the amount Immediately.
The Treasurer promised the City Chamberlain
and Controller that the amount would be paid
In few days OF the sum due, $4,000 was paid
on Thursday
The bondsmen Of Mr. Morrison County
Treasurer becoming alarmed. held a meeting
yesterday afternoon at the office Of their counsel,
Van Santvoord Wellington. 1t was decided
to endeavor to secure a conference with Mr.. Nor
rson who was not present. or his legal represen-
tative, and to If money could not be raised
to pay the $4,000 still due. Another meeting Of
the bondsmen was called for 9:3O o'clock this
morning At that meeting 1t was the general
expression that Mr.. Morrsons affairs were in
such shape that 1t would be hopeless to endeavor
to secure enough money to land him on solid
ground again. The bondsmen gave up the
search for financial assistance for Mr.. Morrison,
and II was agreed that nothing remained but to
learn. far possible, the truth about his
financial obligations and what resources he had
with which to meet the liabilities.
The amount OF the bond is 100000 and each
surety qualities for $4,000 The suretes are,
however, Jointly and severally" responsible. 1t
is said that this makes each sgner of the bond
la bic for any deficiency in meeting the full
amount of the bond, which protects the coun-
interests
The Finance Committee of the Rensselaer,
Board of Supervisors hastily summoned last
night. when the meeting Of the bondsTen became
known to come together at the County Treas
urer's office this morning. Chairman Derrick
was requested to call meeting Of the Board Of
Supervisors to be held Monday morning at
10 o'clock The Finance Committee will then re-
port the situation.
member of the committee said after the
meeting that there should be deposited In the
banks of the city about $3.50, )O0 but that It has
been ascertained that aside from the $4,000
tied I'D in the National Bank OF Troy there was
only $68 to be found.
One of the bondsmen said this afternoon: THE
face value Of the property transferred Is S5ob.-
600. should think that the property. considered
az a whole Is not worth less than ~
cents on the dollar about Sl24Ooo.
II is rumored that Mr.. Morrsons obliga-
tions amount to S25O000, There are some
shares Of bank stock, but none Of the National
bark The property transferred includes more
than 600 shares of the stock of the Star hnitung
Company Of Cohoes, about fifty shares OF the
Troy and Cohoes Shirt and Collar Company
some shares (about ffty) Of the United Shirt ana
Collar Company five shares OF the E. G. bernard
Company, fifty shares Of stock of the southern
Cotton Company of Georgia, nifty shares OF
Westcott Express Company stock, about nlty
shares of the Mechanicville Brick Company
and about twenty shares Of the Troy Beiting ana
Supply Company besides others that | cannot
now recall Sorne Of the securities that nave
rot mentioned are partly held as collateral. The
rest Of the property was negotiable notes and
securities of all kinds Several Of the notes are |
nearly due"
The amount in the fund for the new county |
courthouse subject to the order Of the Court
house Commission. should be. according to ac-
counts about $500 There should be about
$4,000 of excise money too, due the city In the
general county fund there should be between
$40 900 and $4,000, and in the court FUND ABOUT
$4,000 This makes nearly S3OO,OOO TO be ac-
counted for by the County Treasurer. accord
ing to the books.
Inquiry this afternoon at the several banks
in this city as to the amount Of deposit In each
to the credit Of the county was answered as
follows: Central National Bank. none; Manu-
facturers' National Bank. none; Mutual Ma
tional Bank small deposit, but not enough 10
sreak Of United states National Bank, none;
Union National Bank, about 800; Troy City
National Bank none; National Bank OF Troy
100000 The National State Bank. small bal
ance.
Mr. Morrison was born In Brunswick. In this
county June o. 1850 and became resident Of
Troy when only six years old. He began MS
business career in 1866 in which year he became
n clerk in the First National Bank HIS pro-
notion was rapid. exceptional business ability
and strict attention to the interests OF the bank
ha Wing won for him every position in that in
stitution. until az cashier he had almost entire
direction of the banks affairs. He is a member
OF the Rensselaer, County bar
LITTLE SPEECH BY TELLER
Cleveland Sept. Ex-senator Henry NJ. Teller who