New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-10-21
OFT OF HIS PRESIDENCY.
urcHANICS AND TRADERS DIRECTORS
MAKE 4 CHANGE
PRESIDENT PALTEs 1T IS UNDERSTOOD, HAD

,ors1prNT RALTEs. IT Is UNDERSTOOD HAD
,uDr rNDEsIRABrE FINANCIAL CONNECTIONS
-rhs directors OF the Mechanics and Traders
psnk at Broadway and Rroome-s,. held meeting
,ss,erday and decided 20 dispense with the services
., the president. Fernando Baltcs the reason being
1, Is understood. that il had come 70 their knowl-
.sce that Mr. Bates had formed undesirable fnan-
,ial connections downtown. State Bank Superin-
.,,iert K,lburn has made an examination OF the
,snk. and members OF the Clearing House Commit
zoe ana Manager Shcrer OF the Clearing House also
have gone over the books and accounts 1t is found
mat the Mechanics and Traders Bank is entirely
solvent. and that is capital IS unimpaired. but
hat It's surplus has been seriously reduced owing
20 some cause which has not vet been ascertained.
hock Of the banks stock sold at 9Sis on Wednes-
ssv o. this week. tho price the last sale pre-
yousy beinE il3. There Is allegation or
ncon that President Baltes has vronged the bank
srencally bat his connection With a certain West
ern railroad enterprise has been the cause. It IS
sd of the dircc ors action IN his case This road is
the Tacoma and Columbia River Railway. which as
p-oiected was 10 extend from Tacoma. Wash. 20
The Dales. oregon. distance of li5 miles. Only
thirteen and one-haf miles of the line have thus
far been constructed. however. The capital stock
O, the company is $3.p0.0r) The authorized amount
OF first mortgage bonds is also $500 90. Of which
yDcn worth have been issued the completed
part Of the line and $4,000 for deep-water
ton The trustee is the Continental Trust Com
pany o. this city. The railways directors as Given
IN the Corporation Directory are William Bailey.
Franklin Everhard. Frederick II. Garman. George
" Morton. Daniel ;. Decker. William Bailey. jr.,
and William Burroughs. Its officers are: President.
" Bailey: vice-presidont. George y Morton; acc
retary. Franklin Evorhard. treasurer. +. H. Gar
man: auditor ana assistant secretary. William
Bailey jr The New-York Office Of the corpora
t,ou az No ~ Wal-st.. is also the office Of w. T.
Peck who IS said to be interested in the road.
Bankers downtown have been surprised recently
20 find that notes indorsed 10y Mr.. Baltes were
being offered by brokers not well known TO them
Some Of these notes it IS reported were made by
n Nj RumVile said to lie a clerk In Mr. Pecks
Office and indorscd by Mr.. Baltcs. Among these
notes recently offered for sale We're two for $500
each and for $ 90. but i is not known Wheeler
or not they were sold = 800 note maae 10y Mr;
Bates himself with $4,000 OF the Tacoma ana
Co!Cmola hlNer f'AE"'!, - i.",.s ~ r.i fr ala
within q short time. The road has deiauted on
ss 80 a.. ts-' ,.'. 5Ci5 80 a,'ctio, i'm mis- CITY
OF September 2> for 81. Two Judgments or me
the Company it is said one on August o so,
and the other on September L. for So. +. I4omp-
Whee Cornpany is Said to be one OF TIE men inter
es,ed in the comIany FRANK H. t b one
ot the men who have been orerng TOT SAFE NE
notes made or indorsed by President Baiesi w,
II. Chew s. also believed 10 be denthed with the
Syrsi trovn IoVrtovyn and their standing has been
for some time a subject Of investigation by man
cia interests 10 which the bonds OF the ROAD nave
been offered
An unsuccessful effort was made last night 70 OBJ
tain a statement from Pres!den; Ba.tes. HIS home
address Is given In the Directory as NO: 100 last
SeVenty-frst-st., hut at this place, Whicn Is an
erartmenf-house nothing was known of him 1t
was finally ascertaincd that he had lived on the
Fouheast corner Of Park-aVo ana seventy -tnlId-st
This house has recently been made over into stores:
and il was ascertained that Mr. Balies had moved
10 the Hotel ST. Andrew. SeventN-second-St ana
the boulevard Yesterday. however, he and his
family gave up their apartments al the hotel ana
went away leaving no address NJ the office
Franklin Everhard secretary OF ne !aiirqad
eompany lives at the Park Avenue Hotel. but
could not be found by a reporter who called there
last night 20 see him.
The Mechanics and Traders Bank, which is
State institution has had several changes in man
ngement within the last ten years. Us directors,
as given IN the latest Corporation Directory, are
+ Baltes John 7 O'Brien. c. c. Dickinson Leo
schlesinger A. a. Housman /. \. Quiniard. J. H.
Campbell Max Danzger. Charles Strauss, James
II HOFFMAN Henry Corn +. Sulzberger. ". Foster,
Isaac Stebel and Robert j. HOguet. The capital
stock OF the bank is 10000