New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-12-20

dictate had borrowed from the trust cV'"p"N''
s465, 1853 II put up for this So6iooo OF miiiihs
company bonds and go shares OF stock fur'her
secured by the personal guarantees OF the SUI
scribers to the bonds. Last OF all. S4ioV" i"u
been borrowed from the trust company by
twelve different persons. secured Dy |'ii'o0' VI
the milling companys bonds
Thomas A. Mcintyre. promoter OF the oh''eu
States Flour Milling Company. and director
Of the Produce Exchange Trust Company sa'o
he could not credit the rumors that Mr.. Gouid
blamed him largely for the collapse OF the COM
nanv. He asserted positively that the oniy
,ransoction between the trust and the miihhs
oo,ononv which he advocated was the Original
ro ~ 5000 600 and he declared that not one vi
tho twelve borrowers who had got s4l3,oV from
tho trust upon milling company bonds was
,r,end NJ his or had been aided by him IN any
o,, IN onecting the loan. Mr.. Mcintyre saiu
tho only thing for which he could reproach MIN
Golf in the least degree was that ne u'o ho'
watch the company's business more Closely TIC
denied the report that there had been any an
ferance Of opinion between himself ana MI
Could as to the management, and said that the
original loan TO the milling company would DE
paid at maturity.
PRESIDENT BEALLS RISE
x,.,.,, rooard 70 Mr.. Beall. Mr.. Mcintyre is
quoted as saying: c,,a
Il suppose It is true, as stated by MI "ou.u'
,hot am responsible for the presidency OF Mr..
Reall. I have always taken great interest III
voune men. He came to me number OF years
GOO highly recommended. He was at that time
q stenographer He wanted TO get into DUST
rass 7 was president OF the Produce Exchange
and Gave him a lob at SO week. lie Worheu
his way up and soon was assistant ser I'D
Then he branched out. with olhels he aat
the Bayonne water Works' anu ''''
'eWben he came to me and said that he In
tended TO organize the Produce EXCHANGE iIuoe
company | tried TO dissuade him. tod nm
that there were too many trust companies III
the field But he went away and In zen Jay
returned with the capital stock list hlled theh
subscribed for $4,000 of the STOCK Inc coii-
many was organized with John II. Parker as
president / think that Parker remalheu Iol
over six months. l did not like ms pahhlhs
methods Finally when he retired. we were
obliged 70 look around for another president.
on my recommendation Mr.. Beall was CHOSEN;
He was unanimously elected ny tne bVaIu ~, ~
Directors. He made the mistake OF settns gu.
too many time loans put sun nave ''
MI Mcintyre repeated his assertion that the
doors of the trust company need not nave peei'
"The company Will pay dollar for dollar 1t
has 5000 900 surplus over and beyond the sur
plus Of s., 900 pledged That SZoo'on was
earned by the company curing the last o."
months. under President Bealls management.
Yesterday morning at $3.50 o'clock | onered the
company. in behalf Of myself and trienus,
81 100000, but the directors would not consent
TO keep up the business unless the remaining
81 600 600 was forthcoming. an absurd demand
With proper management the assets or the com
pany can be used so as to pay every do'iai
owed" go,
When Mr. Gould was told that Mr. Mcintyre
doubted the report that Mr. Gould had criticised
his actions in connection with the trust com
pany he simply said. "Oh, indeed! Aifnoh
Goodwin, who is one of the counsel 10 the coiii-
mittee, is quoted as saying: .ooo
"Nr Mcintyre did not offer 81 100000 10 the
company yesterday morning lie never sa su
ANYTHING about such a sum. He did say that ne
could get $1,OO0OOO from his friends: one OF
these friends was on his way from syracuse.
No cash was offered. In fact nothing that
would appeal to the sound judgment of business
men was offered. It was all conditional. sort
of promise"
A number of the local banks and corpora
lions posted notices on the trust. companys
doors informing those interested where obliga-
lions against them or their out Of town CORE
spondents would be honored. Among them was
the Bank Of America, which requested Chairman
Gould to refer all persons presenting drafts
against the Exchange Bank Of Albany, Ga, 10
il for payment. The Importers and Traders
Bank announced that ii would act in similar
capacity for the State Bank Of Anoka, Mimi,
and the First Bank of Harvey, \. D.. The Gale
ton Banking Company. Of Galeton Penn, asked
that all drafts against them be presented at the
lean Exchange Bank, OF St Paul. Mimi, VIII
bc paid at the National City Bank. The Ma
tional Park Bank will pay drafts drawn on the
trust company by the West Duluth Bank, OF
Minnesota and the First State Savings Bank
of Three Rivers Mich. The United states
Sugar Refining Company's notice asks that all
obligations against them be presented az. their
local office, No. - Broadway.
Checks drawn on the Produce Exchange Trust
Company by the following banks will be PAID
nv the Hanover National Bank Dakota, North
Dakota Peoples State Bank; Ruston. La, Rus-
ton State Bank: Monticello, Ga. Bank OF Month
cello; Buffalo, n. Y. Bank OF Buffalo. Dawson
Ga First state Bank: McConnellsville ONO
Citizens Bank. Manistique, Mich, Manlstlque
Bank: Arcadia. Ind. Citizens Bank; kinghsher'
nnercial National Bank: Summit. Miss Bank
OF Summit Lyons ~ Y. Bank of Wayne; Mar
tinsburg Penn. Morrson's Cove Bank tha-
teaugay ~ Y Bank Of Chateaugay; Hanover,
Penn. Peoples Bank: Mount Vernon, ONO.
Dime Savings Bank; Mansfield. Ohio. Cltzens
National Bank Remington, Ind, Bank OF Rem
ington: Morgantown. w. Va Farmers ana Mer-
chants Bank.