New-York tribune., 1899-07-18
NEW JERSEY NEWS.
RECEIVER APPOINTED.
JAMES MAGUIRE TAKES CHARGE OF THE
WRECKED PERTH AMBoY BANK

NhECh-D In AhDOl bAEh
New-Brunswick. N. J.. July II CspecisD.-Jsmes
Mcguire cashier OF the First National Bank Of
Elizabeth was to-day appointed receiver for tho
wrecked Middlesex County Bank, at Perth Amboy.
application having been made to the Chancellor.
and Mr.. Mcguire took charge at once
Edward s. Savage. counsel for the Valentine FAM
ny. and United States District Attorney J. Kearney
Rice. who represents George NJ. Valentine In his
present dlficulty, have not made public whether
the cashier will plead guilty allegation or
allow his to 90 before the September Grand
Jury. Valentines wife again visited him at jail
in New-Brunswick to-day and had a long inter
view.
Perth Amboy July n 9peciaD.-ReceIver Ma
suire. Of the Middlesex County Bank. came to
Perth Amboy, and is In charge Of the banks at
fairs. pending the report OF the State examiners.
Mr.. Mcguire is cashier OF the National State Banx.
OF Elizabeth. OF VIII. n United States Senator kean
is president.
Upon the arrival Of Mr. Mcguire the rumor that
Perth Anboy Is 10 have National bank was
promptly confirmed II will be known the First
National Bank Of Perth Amboy. and It will proba-
bly, begin business this week I'm the building OF the
Mddlesex Bank The principal signer OF the petit
ton fled Friday with the Controller OF the Curren
cy was Hamilton Fish Kean. a brother OF Senator
Kean. and the head OF the banking hrm OF Kean.
Van Cortland & Co.. OF No Is Nassau-st. The
presence OF the Keans in Perth Amboy banking
circles will be welcomed by the business COM
munity. They are the largest stockholders In the
Perth Amboy Gasght Company Associated with
them are W. B. Watson. president OF the wrecked
bank. and Secretary J. L. kearny And Patrick
Convery. Of the Board OF Directors.
The new bank will start with capital OF 10000.
President z. r. Pierce. OF the Perth Amboy Saw
ings Institution. told Tribune reporter to-day
that his bank expects 10 resume business within a
few days. Advantage will be taken. he said. OF the
right 10 a sixty day notice from persons desiring
TO withdraw their deposits. II necessary the securl-
ties held by the institution will be converted into
cash to meet the expected run.
Perth Amboy's City Council Will meet tonight in
regular session. Il Is expected that Alderman
O'Hara chairman OF the Finance Committee. viii
report a resolution in favor Of issuing temporary
bonds TO provide money for current expenses. work
has just been begun on a high schoOl pullGlhs -
cost $35. .000 The bonds sold and the money Is
IN the wrecked bank. Mayor Compton Is opposed
20 issuing bonds for any improvements, ana ne NAY
any resolution for more than current expenses
There is due the city Su4yo. according 70 CohsStor
troer Voorhees, reported s9 900 in the Sinking tund
on July /. There VIII fall due next week $3.50
worth OF bonds which would nave beer pald IroI.
this fund, and which must be otherwise pro'ios"
for - u.
Edward 5. Savage. Judge J. T, Kearney kice
and Prosecutor John s. VOORHEES, had consnlta-
ton this evening in Judge Rice's office IN Se"-
brunswick Prosecutor voorhees, declined 10
make public the result OF the conference Judse
Ri,e was reticent, but said that the course "nicn
would be pursued in regard 10 Valentines case
was not fully decided upon.