The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-07-21
total assets Of the bank are 81 l9D0O3 and the
liabilities $l.2SS.9i'7. making deficit of SS!'.-

total assets OF the bank are 81 10000 and the
liabilities Sl.2SS.M'7. making deficit OF SS!'.-
There were whistles aad some groans at this.
but it was nothing to the storm OF misses that
ramc when Mr.. Potter announced that as the
banking department had refused to accept in
surance advances repairs. and certain other
things as assets the deficit had been brought
When the Missing had subsidized Lawyer
Goodheart said:
We are all at sea in regard to the figures
given 10y the President. but believe wo are no
more at sea than he President himself"
beg your part on. sir. began Mr. Potter.
heart "We'y" heard about ali we want to
from you. You may get another turn later
yesugate the Presidents speculations in land
II il evident that this indrrendent company
Pottct speaks OF was organized TO be a private
committee OF seven be appo nted and that 1t
look into the whole business ot this bank and
possible, " WV '''''' ''','S''' 80 ''''
VI. Potter got red in the face. but the share
h9lIerS apElauded and the motion WAS adopted.
Ths He S FprYd by yosr preslent is an
made further dcductions from his assets.
bringing the total deficit up to S2~ls5 10"
hpnd dT d men and TomTq Jumped NJ and
when the squat had passed, went on to ex-
Ilain certain details; and said that the Bank,
ing Department had had an expert appraisal
made OF the Pelham Park property. and that
the experts put maximum value OF Sl25,OuO
OF ri i: o,"rro,,o, anna, ,ror ~, si,.. ,,
hail. aires M k n% %%% FSm s 1Ssf E al the the
Banking Department had had lot Of trouble
with tn" bank and that It's affairs had been in
Il have tried" lie said. "to secure Iegisa-
ton which vii! give the department the right
to 90 after institutions Of this Kind as soon AS
trouble is apparent. but have not been able to.
partmcnt / have found tnat tho Institution has
been CARRYING a ledger which the officials have
U,It AZ hoo Ilt ra inf NAT tl,ut /
contains great many things Of interest that
do no, appear on the regular looks " the
This appears to be a reflection on Mr New
berry SAID Mr.. Frankenheiimer. want to
q strictly honest man. H., is not responsible
for this ban h 5 troubles. They al came after
no resigned, ask you to suspend your ludg-
chance to speak for himself. That Iedgcrnever
contained anything but, a statement Of the
pr0hlS q the copurtnershlp.
that when MIR. &ewrery printed circular! de-
was. as matter Of fact, but t S300o Scc3rdnc
to the banking department books; There vas
plain shouts OF Throw him out came from
al sides. Mr. Frnnkenheimer subsidized. Mr..
Something must be done at once. or I'll
pass the whole thing on to the Attorney-Gsn-
-" want to know If Mr.. Potter will step
aside and let the committee 60 ahead with its
heart.
Il want to tell you people" cried Mr.. Potter
paving no attention to the question. that I've
had Philip A. Smyth. one Of the most expert
real estate men Of the day. apprase that West
chester property. and he fixes the value at
500 600"
THAT ; not an answer. said Mr.. Goodhcart
III you are acting in good faith and have been
right along. an investigation will not harm
you, II you have not all you can say will do
you no good.
won resign" said Mr.. Potter,
ntan'f mi Ia. CT
aside
We'll" said Mr. Goolheart. that shows the
new management up all right"
The shareholders applauded Mr. Goodheart
and Missed Nh Potter.
I've no 1ehr 10 delegate my powers TO an
other. SAID Mr. Potter. moment later. But
III help this cOminittc investigate"
All right that il do. said Mr.. GOodheart
and the meeting adjourned subject to the call
Of the Chair.
The officers OF the bank besides Mr.. Potter
are Vice President. Charles X. Carpenter
Secretary. PeterJ Shields Treasurer Auguste
NoHl; Cashier T. A. Stedman; Directors. G.
Kramer Thomson. Aonao B. Jones and
Charles r. Hume