The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-05-14
SOME oWILCOX BANKS" OPEN.
ONE. OUT OF FOUR IN ORANGE
COUNTY, 81 NATIONAL BANK.

Two in steuben 20. Are owned by John l..
CaYen, Who Is SOlVent--At Central
valley and Highland Falls DEPOSIT
tors Invoke the District Attorney.
Information concerning the Affairs OF
A. c. Wilcox & Co., the private banking
concern at IS Liberty street which Is In
financial difficulties, was refused yester-
day by the receiver, Marcus A. Alexander
He confirmed the report, however. that
payment on checks had been refused by
the company and that the chain OF small
hanks operated by it In various counties
of tie state had closed their doors.
MIR. Alexander Is boyish loo king per-
son with dark eyes and clean shaven lace;
He seemed 10 resent being questioned
about the affairs OF the company. He
said he was too busy to talk about the mat
ter but that he would have a statement
ready for the public either Monday or
Tuesday, When asked about the cause
Of tic failure he said that It was the lack
OF a very small amount Of cash on Friday.
Adjoining the offices OF A, G WILCOX
is the Office OF the North American Under
writing Company. Mr.. Alexander ts the
secretary Of this concern and A. e. WILCOX
is one OF It's directors. MIR. Alexander
said that be had been employed by a. G.
Wilcox 4 Co., selling stocks and oonds
NEW ROCHELLE. May IA. G. Wilcox
was seen to-day at his home, II Prospect
Fourteen banks are included in the
aasipnment,' said Mr.. Wilcox. The total
DEPOSITS aggregate 100000. The deposit
tors are mostly farmers and small business
men. l expect to pay 100 cents on the
dollar IL can have little time. IL VIII
take some time to get Strengthened out,
but II the creditors will be patient nobody
will lose a cent. g..
i have not speculated and nobody con-
nected with the banks has speCulated.
, The trouble was caused by our being drawn
on heavily when we were not expecting 1t.
I We were unable to realize on our securities
in time TO stave on the assignment. The
/ securities are all right, even If they are
not listed II nave enough time 20 dispose
OF then i. expect to realize twice my in
debtedness,'
= MfppLsTowN, n. Y, May ls.-The bank
ing house Wilcox started at Cornwall was
turned into a national bank July Is last
J with Wilcox as president and Marcus a.
Alexander as vice-president. II opened
for business to-day, and while many OF
the smaller deposits were WITHDRAWN,
there was no serious run.
p At Highland Falls, A. G. WDcoI a 90.
held q considerable savings acco unit for re-
tired soldiers and others and issued savings
hanks to children, among whom It bad
hundreds Of customers. After closing
hours last night Cashier George Engels
received a telegram from A. G. wilcox d
Co, ordering him TO send Immediately TO
New York by express all cash, bonds, &c.
Engels notified the depositors, who applied
70 the District Attorney for restraining
order The deposits were about $500.
| About 5000 cash was found, with So, 900
| in bonds Of uncertain value.
AZ Central Valley, where the deposits
we're bet ween 1900 and $4,000, and where
| It Is stated there was but 81 900 In the safe,
a committee Of depositors was chosen
To COLL on the District Attorney: The
! public school moneys were on deposit
| here. j. NJ Barnes, merchant, and Frank
J.. Nearn Of the Central Valley Hotel had
| each about 81 900 In bank
AZ MONTGOMERY the Wilcox concern
! had the village money on deposit. The
cashier, Laird +. Wilcox, son Of A. c., says
, he believes matters will be adjusted.
All the Orange county banks had farm
! ers' money, and their closing caused much
CoRNrsd, n. Y, May 1S.-The banking
I houses Of A. e. Wilcox j Co., at Painted
I Post and Cohooton in Steuben county
were opened for business as usual to-day,
! There was practically no run, the dePositon
| being assured by John l. Caven that he
! alo ne owned the two banks In this county
! and that his only connection with the New
| York house was as a correspondent. He
states that he has arranged 70 do business
in New York hereafter with the Hanover
! National Bank and that he is able 10 pay
! deposltoS every cent and then have $4,000
| left. Caven was former New York news
paper man and this is his first venture in
banking. The, two banks will hereafter be
UTICA May ls.-The branch bank at
Topper lake Junction, in the A.irondacls,
Of Al. G. Wilcox & Co. Of New York closed
its doors to-day. An order from the head
ofioe, posted on the door Of the local office,
fSend all cash, stock. bonds and books
to New York Immediately; close the branch
once