New-York tribune., 1901-07-28
D. F. MYERS'S DEFENCE.
EN-PRESIDENT OF MANHATTAN FIRE
INSURANCE COMPANY BROUGHT
HERE FROM CLEVELAND
AND ARRAIGNED.

Daniel F Myers. of Cleveland. ONO, VINO
was president of the Manhattan Fire insurance
Company Of this city when it went into the
hands Of a receiver. brought here yesterday
and arraigned before Recorder Golf on an III
dictment charging him with grand larceny
Mr.. Myers is influential business man Vi
Cleveland He is a next door neighbor of Sena-
tor Hanna, and is a member Of the wholesale
drug firm Of Benton, Myers & Co The indict-
ment alleges that as president Of the Man
haitian Fire Insurance Company Mr. Myers
converted check for S27 5G2 50 to his own
use instead of using the amount in settling up
the affairs of the company.
At the close of last year the company made
report to the State Superintendent Of lnsur-
ance that it had unimpaired capital OF
$500 900 and a surplus Of S3Sooo above its Ia
bities. The report was signed by officers OF
the COMPANY other than Mr.. Myers. Later
an examiner declared that the report was false
and that the capital stock OF the company had
been impaired. The company went into the hands
of Otto Kelsey as receiver about May l,
and recently he reported to the Dstrict-Attor-
ney that he had discovered things in the books
OF the company which he thought were sus-
picious Assistant District-Attorney Garvan
was assigned to make investigation. He
found a record of a check for S21 ,562 60 given
10 the Hanover National Bank. where the COM
pany deposited and the officers had private
accounts Apparently this check given
for the private account of Mr.. Meyers, and not
for the benefit of the company. 1t was APP
parently in payment of a personal note given
at the time of an issuance of 200 shares of
stock It was on this transaction that the
prosecution was begun.
When Mr.. Myers taken before Recorder
Goff in the latter's chambers yesterday morn
ing Barlow 6. Weeks accompanied the prisoner
as his counsel Assistant District-Attorney Gar
van said there probably would be other
prosecutions connected with the of the
Manhattan Fire Insurance Company. In the
case Of Mr.. Myers. he said he thought $1,000
bail would be ample Mr. Myers gave the bail,
his surety being Samuel W. Bovine
Mr.. Weeks said yesterday that the charge of
grand larceny in the of Mr.. Myers was
ridiculous. The check for S27, ,562 90, Mr.. Weeks
said, was given alleged, but it was in pay
ment Of the note which was authorized by the
directors 1t was given TO secure stock sub
scriptions. He said Mr. Myers had lost between
$4,000 and $4,000 of his money in trying
10 keep the company afioat and that ii
ceedingly hard at this time TO have to face a
criminal charge. He said there would be no
difficulty in disproving any direct larceny or
indirect crookcdness of any sort.
The statement Of Mr.. Weeks submitted to
Mr. GarVan, who said: We'll, II that is so II
complicates matters. There a payment of
SS1,oo0 TO the bank at the time the stock was
issued, and the directors made a sworn state
ment 10 the effect that this was free and clear.
If the check was given as claimed. then there
perjury committed earlier in the history OF
the institution"