New-York tribune., 1906-03-23
TINIGGINS INDICTMENT
cR1ND JURY ORDERS BILL
Rank Officials May Also Be accused
-Eucise Board Up.

The Hudson County (N u Grand Jury has
s.-s5 bills Of indictment against Thomas ].
,,,,zins. ex-secretary and treasurer OF the West
,J-sson Trust Company, and it is said the bank
-az-,sls viii also be indicted for their neglect.
-. Jersey city Excise Board II is rumored, has
- been indicted It is said to be probable
= otl,er Jersey city and Hoboken officials viii
; indicted
when tho higgins case was first considered
-,.rsI weeks ago a majority voted against in
s-.-,snt. as the evidence presented indicated
-. the hank had lost nothing and there was
-.,sonable doubt as to any dishonesty in the
-srsactions recorded in Mgginss accounts
r-hsr the report Of the State Bank Commits
.iorer was submitted it put different phase on
he case and the vote was reconsidered and the
.-vssrigation was reopened. It was understood
s- first that higgins had advanced $27,50O- on
notes 10 cover the margin in a stock speculation
.- which he acted as the agent or middleman.
and that the maker Of the notes had redeemed
them.
TIE report Of the State Banking Commits
si,ner set forth that in addition to the S2750O
here was found a shortage of $4,000 which
higgins admitted was chargeable against him.
and that the books had been tempered with to
hide his transactions. The report said:
In the course Of an examination by this de-
-ertnert Of the West Hudson Trust Company, of
Harrison. the examiner found several notes.
amounting 10 some S27,5O0, which appeared to
lin 10 be irregular, and further investigation
developed that no interest had been paid on the
sane also that the proceeds had not been
credited or paid 10 any Of the parties whose
names were affixed 10 the notes, but had been
sent by the then treasurer Of the company TO a
f-m q brokers 10 supply margins" for stock
specUiatous.
The individual for whose benefit this had been
done according TO the treasurer's statement. ad-
niIted his liability upon the notes and they have
been paid by him. Upon continuing the exam
nation shortage of $4,000 was discovered
which the treasurer admitted was chargeable
70 him. and he made good the amount.
Entries intended 10 prevent the deficiency
from being detected had been made upon the
books Of the institution, evidently at the insti-
CATION of the treasurer, and he had also signed
and sworn 10 false reports Of the company's
condition.
The severance Of his connection with the in
sltuti0n was insisted upon and the facts COM
nunicated 10 the Prosecutor Of the Pleas Of the
county. by whom they We're submitted 10 the
grand jury which still has the case under con-
soerauon. as reported
is said that the unexpected visit Of the
hank examiner was the cause Of the undoing OF
higgins, as the stock transaction would have
been settled in a few days and cash and
books would have balanced. The officers of the
hank are William J. Davis, president; Joseph
--f -7t iNS ll ly-SI4t' 1NC4iaIN iii SCI
md vice-presideut. Z. r. c. Young William J.
Davis Richard HILL Jacob Stumpf, Edward
N1geur Dr. II. 7. Squier. George +. Morrison,
Peer Goodman. Joseph P RiOrdan, Joseph A
R1r1al. Hamilton +. Kean, John W. Whalen.
Edward @. Grace. William c. Stanley, Thomas
George. John w Dunn. Peter Hauck. Clarence
= Van Derin and Dr. n. o. T. Dolphin, directors.
The Indictment ordered against the Excise
Board is, II is said, for malfeasance. The mem
5ers n the board are George Decker, Gustav
Pfugs-en, John J. O'Brien and Matthew Falla-
lee. Il Is alleged that no attention was paid to
complaints made by Father Ryan and Father
Ter WOe-t against alleged disOrderly places and
that che q the two excise inspectors McLaugh-
liU had been working bartender in one OF
Commissioner O'Brien's saloons ana had not re-
ported ar the Excise Board Office for many
weeks Al the dinner Of the Liquor Dealers
association recently Commissioner Decker, in
The course ~ his - rsch. said there were two
hundred saloons in the city that were not prop
erly conducted and that the licenses for them
would not De renewed