New-York tribune., 1905-08-10
REPLY FROM Mr.. ROBINSON
No Merchants Trust Bids accept
able, He Says.

Douglas Robinson one of the receivers of the
Merchants Trust Company. yesterday sent to
the depositors' protective committee, headed by
isaac Pennemacour, tie following letter, ip an
s"er to their recent communication TO him. in
winch they asked a series of questions relative
TO the trust company's affairs:
Gentlemen; During my absence on a business
trlp which occupied four or five days, your let
49, el 70 me- as one of the receivers OF the Mer-
cnants Trust Company, propoundng certain
queslions In reference to the affairs of that
company, was forwarded to me I regret that
II was not received in time to respond thereto
prior TO the meeting of the depositors, which
TOOK place on Monday night. Any delay in re-
been of no consequence. since YOU interviewed
Mr. King yice-presdent of the co-receiver. the
NeW-4 ork Trust Company, in the presence of
Edward Lauterbach. counsel for the receivers
TO briefly sum up the answers TO the ques-
lions contained in your letter about the various
oilers for the assets of the Merchants Trust
company 1 beg TO say that have not re-
cefved any offer for our interest in the Hudson
valley Railroad, or in the Rutland properties by
Ties, commensurate, in opinion. with the
value Of the properties, after careful personal
examination. No offer has been received for
these properties which felt, as representing
all the interests of the Merchants Trust Com
pany, depositors, creditors and stockholders. we
could recommend to the court for it's approval.
When we are able Up get such a bid or bids
shall lose time in asking the court for its
ofhfers hers' q % '''7 acceptance oi Suon 0iie' "
In the case of the lease of the 59th-st. prop
erty. dispute having arisen between intending
puru uhasers. the same was disposed of at public
auction to the highest bidder. under the express
direction and order of the court.
The dividend of 40 per cent, which has been
sanctioned by the court and is about to be pald
will 1 anticipate, be followed at early day
by further dividends and as rapidly as the
realization of the assets will permit.
1 understand that the State appraisers are
nearly ready to render their report When that
is filed we shall then have their official opinion
of the value of all the assets. Yours very truly,
DOUGLAS ROBINSON.
Mr. Robinson and Mr.. King, held confer
ence yesterday morning at which were present
also Edward Lauterbach. counsel for the re-
ceivers and the two State appraisers who have
been appraising tie Merchants Trust Com
panys assets.
At the offices of E. Clarence Jones, the banker
who is said by the protesting depositors to have
offered good amounts for the assets of the Mer-
chants Trust Company to the receivers without
having his offers considered, and concerning
whom the receivers have stated that they re-
ceived no offers of any kind from him II was
stated to-day that they have copy OF a teIteC
sent to the New York Trust Company ana re
ceived there from the special messenger Wto d ut
livered it. offering S2,2OOOo for all the assets t
of the Merchants Trust Company or S!OooCV
for the Hudson Valley Railway secur1tles hetd
by the trust company. No reply 10 thls olisL @
was ever received from the receivers, II was
stated -.
Several blocks of the Rutland securities held
by the Merchants Trust Company We're 500 soE66a ESS
terday at auction. Among them were S6UOoou
< per cent bonds of the Chittenden power Com.
panv which brought 80, and 9,S94 SHARES OF
stock of the same company, when Went at p1Uo
for the LOT. 5O7S shares Of Rutland street Rall-
wav stock $3.50 for the lot and SIooOUV OF llS
first mortgage ) per cent bonds, at 81; anu
Light Company Of Rutland which were sold
at 90