New-York tribune., 1905-01-29
RECEIVER FOR HUNT.
HIS BIG OPERATIONS.
International Banker Gfues Bail
Search for His Cashier.

-,-n,ara EzIu Hunt. the president OF the Fan
',.-o.n Banking Company. with offices at No lsS
h-sorn-st, Chicago. arrsigned in the West
- oourt yesterday morning and released in ZOO
- - hv MAGISTRATE Barlow. 10 appear there Monday
u.s. .svvsr the charge OF stealing $50 600. Hunt was
y 80 On Friday night at his home No 25l West
- on request OF Francis O'NeiII. chief OF the
s-,.sgo police. Bail was furnished by Assembly
nan Seymour
= issued IN Chicago for Hunts arrest on the
-, complaint OF Victor Murrel. depositor OF
-, psn-Arnerican Banking Company.
Ts-,rlssra Hi Hunt was formerly president OF the
...-,st,onal Bank and Trust Company OF Amer
a. which came TO grief more than year ago
-. -. T,ternationsl Bank and Trust Company. which
4S t,,orporated IN Delaware IN October 1902. rep
-.r,.s the union OF the Corporation Trust Com
- ~ Delaware which had been incorporated in
-, Isoe and had its NeT~York office at No q
I.S,rsv ana the Mexican Trust Company. which
p-~..s rine branches IN SIS many cities OF Mexico
.r1o,r the early directors OF the international
-, were William Astor Chanler. J. Sloat
-. ena the late James W. Hinkley. all of
-, however retired from the board several
.+bs hesore the collapse OF the company. On
l.-,,.- = ,sn the International Bank and Trust
1900 main Office. IN the City OF Mexico.
,s a.. doors 6 notice being posted that the con-
-. hab gone into voluntary liquidation. Jacinto
.,...-.. was appointed receiver by the Mexican
.,-+s but the banks management desired an Amer
- -a,es,rer and on their application Chancellor
,-,-tolsou OF Delaware two or three days later
1,sn.ed James Il Hughes. OF that State. receiver
- ,esoes OF the company in San Francisco, Seat
- sn6 other cities Of the United States were
o-,ntly closed. An inquiry into the affairs OF the
c7,oern was begun by the District Attorneys once
n his city Il having been reported that the CON-
nsrv bad been doing banking business in New
,-o-k ststs without fling a certificate with the
[,.-ting Department at Albany: but no action was
+~ten. An order OF arrest had been issued for
ET-T,t nv g Mexican court, the dispatches reported
ht he had crossed the border from Mexico into the
7r,ted States before II could be served upon him
IN necenber 1903, the stockholders or the Inter
,.+,onsl Bank and Trust Company approved the
outline OF q plan OF reorganization and appointed
6 committee 10 perfect II and take the necessary
action under il The plan. as finally adopted by
,be denomination committee. provided for the or
gsu!Eation Of the Pan-AmeT!can Securities Com
many IN Arizona. with S2000.00 capital, ana the
Psn-American Banking Company. in West Nir-
ciu,a with S5O0O0o capital stock Depositors and
othsr creditors Of the International company were
70 be asked 10 accept payment OF their claims in
dividends OF 10 per cent each. ''as and when the
assets of the International company may be real
!zs5" and creditors whose claims exceeded $780,
Mexican money were 70 be asked 10 subscribe one
haK The amount OF their respective claims 10 the
stock O: the new Pan-American Banking Company
at 81. Stockholders OF the International company
we're asked 10 subscribe. 10 the amount Of 10 per
Company stock ct 200, with bonus OF Pan-Ameri-
car Securities stock TO an amount equal to their
ole stock so subscribed Those not desiring TO
subscribe for Psn-American Banking stock were TO
have the right 10 exchange their International
stock holdings Tor 90 per cent IN stock OF the Sc
The reorganization having been completed, WILL
IAN II. Hunt became president ot the Pan-Ameri-
can Banking COMPANY and W. r. Travers, for
merly with the Merchants Bank OF Canada, at
Hamilton. Ontario. was elected secretary and treas
STe-- The local Office OF the concern has been at
Hunts once yesterday was in charge Of a young
woman. She cashed some OF the checks offered.
Ar, Hunt made the following statement yesterday
st his home. No. 81 West esth-st.:
The immediate cause OF the trouble was the fact
thar Two directors OF the Pan-Arnericsn Banking
q. accepting them themselves, they were the
only TWO directors present They afterWard adver-
-. mat Li4ty Aa0 resigned
y me Ihese gentlemen were not known IN Chics 60,
me mere TACT OF their advertising that thew had
resigned es directors caused z withdrawal OF de-
BY tie Ethd-awal OF depOsits telegraphed friends
n The East asking some aid for the bank which
L1ey agreed 10 furnish.
! came Esst for the purpose OF rediscounting some
n--ls. These arrangements I had about perfected
ana on thursday morning should have telegraphed
was delayed en- route ron STANTON TO NeV9-YorI
1rorn $50 o'clock Wednesday afternoon until
--sg O'clock Thursday night
Ny inability 70 reach New-Yorlz ana telegraph the
1llos caused the suspension There have been no
os-9lcelons from the bank, no misrepresentation
3 q tInas' and the story OF any embezzlement OF
- gg is based solely upon the Illinois statutes,
winch provide that II any bank receives deposits
Gtter the ccers Informed OF It's Insolvency they
E-e guilty c- eLnDeZzlemenL.
ne bank, 70 the best OF my knowledge and be-
,- .t Vs. soIFent the day II closed and every day
an perfectly solvent, and ny banks IN Mexico
@ tno NeW-4ork are stlu running and VIII continue
CHICAGO 6s- % e1sie lls AlalIs ot lls
WI keep up The branch there