New-York tribune., 1903-06-18
DRESSER IN SANAT0RIUM
May Be Serious Outcome of InUest,-
CATION of Trust Co. of Republic.

pany of the Republic that it is understood that
at the special meeting of shareholders to be
held tomorrow the reorganization commlt1ee'
which consists of Stuyvesant Fish, George Z
BoIdt and James B. Dill. will he able to submit
only a partial report of the results OF It's IN
vestigations. The committees findings "heh
finally drafted, will set forth all the 1acts as
ascertained without fear or favor; ana 1t Is
believed in Wall Street that criminal proceed
inge involving some men of more or less prorfli-
nence may follow.
The report that D. LIE Roy Dresser, eX-presl-
dent of the Trust Company of the Republic is
ont of the city was confirmed yesterday ny
several of his friends. Morris j. Hlrsch' MI
Dressers attorney, denied that MI. dresser "
out of the city to remain.
mfr Dresser will be here and Will make
statement of his side of the case in the Ius'
Company of the Republic matter salu MI
Iirsch. Il expect to see him tomorrow '"
not at present familiar with the details OF the
situation but / do know that MI dresser mas
heen absent from the city solely on the advice
o4 his nbvs;c,sn who advised him to go to the
Adirondacks tc recover from the nervous strain
and shock caused by his business troubles.
A close friend of Mr.. Dresser said yesterday
in regard to his absence from this city;
THE financial troubles of the Trust Company
of the Republic finally prostrated Mr. dresser
He was unable TO sleep at night, and often was
found wandering up and down his bedroom aS
if in a daze in early morning hours His despono-
encv alarmed his friends and from fear that he
might harm himself. his physician ordered his
removed to sanatorium up the State The exact
location I cannot remember.
HAS his condition improved" was asked.
From what 1 can learn, Mr.. Dresser is still
unable to take hold of any business whatever
He has recovered somewhat. but so slowly that
his case has caused his family and friends much
alarm"
DENIED BY Mr.. DILL.
James B. Dill. when asked regarding a report
that the Bank Of the Manhattan Company holds
paper to the amount of S500.000 with the in
dorsernent of the Trust Company of the Repub-
lie by Mr. Dresser said that the report is not
true.
THE Bank OF the Manhattan Company does
not hold a dollar of such paper. and there is no
paper Of the kind outstanding" he declared
AT the Bank of the Manhattan Company the re
port was neither denied nor affirmed. Rush &
wetnoore attorneys for the bank. declared they
had never heard of the existence of any such
paper.
Charles C. Gates. of Harris. Gates & Co. said
regarding the claim for which suit for Sl59ooo
has been brought against the Trust Company OF
the Republic. that the claim was for conrnlS-
sions on stock deals in connection with the
United States Shipbuiding Companys fotation
Henry b Anderson. OF the law firm OF Amer
son & Anderson. No. Is Broad-st.. denied with
emphasis yesterday that any OF the Wander oiis
family were involved in the Trust Company Of
the Republic.
VANDERBILTS NOT INTERESTED
The interests of Harry T. Cause, however. who
was formerly president Of the Harlan & Hol-
hold
against the trust company, are represented by
Mr.. Anderson. and in a signed statement he said
yesterday:
see statements in the newspapers this morn
ing TO the effect that I represented the Wander
hlts in some claims they had against the trust
Company of the Republic and that Mr.. Dresser
had interested them in that company or IN the
shipbuilding company. This is absolutely ul-
true. and. none of the Nanderbllts mas any
interest whatever in the Trust Company OF the
Republic the shipbuilding company, nor has
had.
/ do represent Harry T. Cause who presi-
dent of the Harlan & Hollingsworth Company.
and who holds contract with the Trust Com
pany of the Republic. signed by the vice-presl-
dent and attested by the secretary under the
seal Of the company, by which the Trust Com
pany of the Republic guarantees the sale of his
bonds and stock, at 95 per cent of the par value
Of the bonds 6S per cent of the par value OF the
preferred stock and % per cent of the par value
| of the common stock, less brokerage expenses
| and guarantees that the securities be sold at
| these prices on or before August % 1903.
The agreement recites that the Trust Com
many OF the Republic is interested in the securi-
| ties Of the United States Shipbuilding Com
/ pany and desires that they be sold to the best
/ advantage and this guarantee is given in con-
/ sideration Of an agreement on Mr.. Causes part
1 not to dispose Of these securities in any way
! previous TO that time, and that he will deposit
] with the Trust Company of the Republic such
] securities.
! These securities were some time after the ex-
! ecution of this agreement taken TO the officers
| of the Trust Company of the Republic and
! offered to them under this agreement. and Mr..
| Causes representative told that the trust
! company had not yet called for the other
| curities and that when these wanted he
would he notified. The Trust Company of the
Republic now seeks 10 repudiate this contract on
| the ground that il was executed without knowl-
! edge of the board of directors and without
sufficient authority the part of the comma nv