New-York tribune., 1903-07-16
lMB0DEN HURRIES BACK.
JERSEY OFFICE CLOSED.
We'll KnOWn Men Who SeUered
Connection 5citk the Promoter.


State are proceeding. Mr.. Vredenburgh posted
the following typewriter notice on the door:
The Commissioners of Banking and Insurance
of New-Jersey have taken possession Of the prop
erty and business of the Interstate trust company
The said company maintains another office.
l. R VREDENBURGH, State Bank Examiner
Room No $50. on the door of which the notice
was posted is the Office of William S. Baker, the
registered agent OF the company in New-Jersey.
Mr. Baker said yesterday that he succeeded j.
Leavitt Griggs son of ex-Attorney General
Criggs, last January. All that he had done had
been to furnish place TO receive the official
notices and mail of the company. He said he
did not know much about the inception Of the
company.
''Moody's Manual Of Corporations" says that
the paid in capital stock of the Interstate Trust
Company is 100000 and the authorized capital
is S5.0O0OG0. The officers are c. Amory Stevens,
president; B. L. Arbecam, vice-president and
treasurer: w L. Madison. secretary. The di-
rectors are c. a. Stevens, Edward V. Loew. H
B. Twomby. B. L. Arbecam, A w Strong, A.
p Weeden and w. s. Madison
Mr.. Baker said that the National City Bank
was correspondent of the company. The COM
pany had done no business in Jersey City.
Inquirers at the local offices of the company,
No. - Pine-st., were referred to Mr.. Madison,
the secretary. who handed out the following
typewriter statement:
The action of the State Banking Department
against the Interstate Trust Company was en-
tirely unexpected to the company and was enu1SIy
unnecessary under any aspect of the case. The
bank examiner had made a thorough d eXanlinau9t t
ali correct and had expressed himself satisfied.
AS matter of fact the company has substantially
apn n9 fafqGT IS nac + The Stock Is pr PPacSy All owned
by the Randen Company and the Banden Der ION 14dr
state Company OF the stocks in which its capital
the instigaton Of creditor or stockholder:
Leonard im6oaen q 70 90 & hoi the e" and ID
have not dollar invested in it. The company
will protect itself in the proper manner at the
B. L. ARBECAM vice-President.
Where is the Office of the Banden company"
Mr.. Madison asked.
WHERE Is BANDEN COMPANY's OFFICE?
II don't know" he answered.
But that company, according to your own
statement. owns your trust company" was sug-
gested. WHO are Ats officers and directors?"
"AH know about it is that John ]. Banigan
IS the president"
How long has the Interstate Trust Company
been here?"
About six months; but it has never done any
business yet
Then the examination made by the bank
anner was easy task?'
YES" answered Mr.. Madison, with smile
when was this examination made?'
In June"
How is it that you have done no business in
all these months?'
Well, you know. it often happens that for
one reason or another a company sometimes
does not begin actual operations for some time
after it has been organized"
who are the officers and directors of the
Interstate Trust Company"
j can give you no information to-day beyond
that contained in Mr.. Arbecam's statement"
Were not Leonard Imboden & Co. formerly in
these offlces?'' asked
Mr.. Imboden occupied the front part of this
floor until the offices were remodeed for the
Interstate Trust Company"
The charter of the company drawn in the
Office of Dill & Baldwin. James B. Dill said
yesterday about the matter
JAMES B. DILLs STATEMENT
In FebTnaTy @ 1902 we e. we're @ ret retained med by Wall
change, TO draw charter for the Interstate Trust
subsequent to the fling Of the certificate of in
ton and notified us TO that effect, and thereupon
1902. from any connection with the Interstate Trust
! Understood at the time that the gentlemen
one or more of the assoeates Who We're bse 6e
quently brought into the matter. Whether the
now inportant. but the difference and
clients withdrew. and We did so also.
The original subscribers at the time of the
u.
and E. V. Loew. of this city; Henry E. Hutchin-
son, Of Brooklyn: Charles C. Frick, of York
Penn; Amzi W. Strong, of Chicago; C. Amory
Stevens, of Summit. n. j.; Wesley c. Koller, of
Glen Rock, Penn, and Burtis L. Arbecam, of
New-York Mr.. Edey and one or two of the
Others named, severed their connection with the
company soon after its formation
At the office of Leonard Imboden & Co, which
Is also the Office of the Bankers Corporation ac-
cording TO the signs the Office doors, It was
said yesterday afternoon that Mr.. Imboden had
been since June Is at South McAlester Ind t.
but that in response to a message sent him on
Tuesday night concerning the charges made
by the New-Jersey authorities he had tele-
graphed that he would return to New-York as
fast train could carry him. a Mr.. Perrin
who declined to give his initials. but said that
he was secretary of the Bankers Corporation,
said that he understood that the Interstate COM
pany would make statement. He vehemently
declared that there was no connection between
the two companies, and denied also that Leon
ard Imboden had any connection with his con-
cern. Mr.. Perrin declined to talk about the
affairs of his company to give out any pros
pectus, or give the names of its officers and
directors, except TO say that Mr. Welden was
president He said that the company or
ganized in March last and wasn't ready to do
business, so that he didn't think it proper TO
give out any statement of the company's in
tentions
OPTION ON THE KUHN-LOEB BUILDING.
1t was declared at the Office of the Bankers
Corporation that no one there knew anything
about Mr.. Imboden's career before he came to
New-York. II is understood that the Bankers
Corporation some time ago bought an option on
the Kuhn-Loeb Building No 27 Pine-st in