The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-05-13
WILCOX BANKS CLOSE TO-DAY.
COMPANY RUNNING THE STRING
MAKES ASSIGNMENT.
Most Of Them Are In Orange and Sullivan
Counties. but There Ii One ~ Rouse
Point and Another NJ Painted Post
--DepoaitOrs At Highland Pals Excited.

A. c. Wilcox Co., private banking
concern at IS Liberty street, made an assign
ment yesterday TO Marcus A. Alexander.
The assignment was made by Albert G.
Wilcox, who seems to be the whole thing in
A. c. Wilcox 4 Co,
The concern had a string Of small banks
in this State, mostly In Orange and Sullivan
counties, and they will all be closed to-day
It had another bank at Windsor Locks,
Conn. Altogether. It Ia said TO control about
ten branch banks. One Is at Montgomery,
Orange county, and Laird z. Wilcox, a son
Of A. c. Wilcox, IL the cashier. He lives in
Montgomery. He was seen there last night
and said TO a SUN reporter:
Il know nothing whatever Of the trouble
further than that have Just received a tele-
gram directing me to close the bank here
tomorrow. II Is a great surprise TO me, as
had no idea Of any trouble
In addition to this branch there are two
Others in Orange county. There Is one at
Highlands Falls and another at Central
Valley. There Ia another one at Rouse
Point. Clinton county, and still another
at Painted Post, Steuben county.
Wilcox began business In this city In
February, 1900. and since then he has es-
tablished the branch banks. He lives in
New Rochelle. A man who answered his
house telephone last night said Wilcox
had gone out and it wasn't known when
he would return home.
Wilcox never had any rating in BIai-
st eet's In his statement OF Feb. 1, 1904,
he asserted that he had resources Of 1854, GAG,
liabilities Of $685. COS, capital $500, OOO surplus
$4,000 and undivided profits of SlO,2s
Wilcox was interested in a bank at Corn
wall N. Y, which was chartered on July
25, 1904, as the First National Bank Of Corn
wall with an authorized capital Of SIS, 900,
Of which it was said SIS 900 had been paid in.
He became the president and Marcus A.
Alexander, the assignee OF A. c. Wilcox
q Co., the vice-president
Alexander could not be found last night.
His last address in the city directory Is
1880 Eight y-fifth street Brooklyn, where
he does not live now. He and Wilcox are
interested in other business deals besides
that Of the bank at Cornwall.
At IS Liberty street. where the Wilcox
banking concern had it, main Office, Is the
Office Of the North American Underwriting
Company. Alexander Is the secretary and
a director Of the underwriting company.
Wilcox Is also a director The president Of
this company Is Marsenus H. Briggs, a
lawyer, who lives in q fiat at 1878 Seventh
avenue. Briggs wasn't at home last night.
A member Of his family said that he had
sent word that he wouldn't be home as he
had been called out Of town.
- George Wilcox IL the treasurer % the
underwriting company. He II said TO be a
cousin Of A. c. Wilcox. DIR. Augustin
Goelet Of 2OSO Broadway was director Of
the underwriting company for a time, but
he said last night that he was no longer
a member Of tie board.
Il know 4. c. Wilcox very we'll, said Dr.
Goelet In fact. he is one OF my customers
He is a very reputable man and am sorry
he had to make an assignment. heard Of
il this afteTnoon-in fact, had a telephone
message from Mr.. Wilcox. II is only a
temporary embarrassment, ] am sure, and
everything will come out all right"
A despatch from Highland Falls last night
said that the closing Of the Wilcox branch
bank there had created considerable eX-
element among the business men Of the
town. This branch bank had about $50
depositors and was increasing its business
daily Some OF the merchants Of the town
will be heavy losers. The depositors were
holding a meeting last night TO see what
could be done.