The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1906-02-09
THOMAS MICGINS
UNDER SUSPICION
Grand Jury Is Investigating
the Affairs Of the Treas
urer Of the " est Hudson
County Trust Company
BEFALCATIONS ALLEGED

DEFALOATlONS ALLEGED
CHARGES ARE SAID TO BE BAs-
ED ON BINDINGS OF THE
STATE DEPARTMENT OF BANK
ING AND fNsURANc AMOUNT
INVOLVED. s5E 900.
Thomas ]. higgins. Treasurer of the
West Hudson County Trust Company.
d Harrison. N. J.. has been deposed
ana the Hudson County Grand Jury is
Investigating his affairs. This is the re-
huit Of an investigation of the State De-
partment of Banking and Insurance
1t Is alleged that the findings of the
State Department of Banking and ln-
surances, as contained in a report OF E'x-
a1niners e. S. Hyatt and Horace Biddle
include allegations of forgery, embez-
clement ard a falsification of the books.
The amount Of money involved is s57,-
QOQ ASS higgins, when confronted with
the evidence Of the shortage, made good
the amount ak his peculations, the bank
officials accepted his resignation. They
decided that as restitution had been
made and the bank lost nothing, to let
the matter! drop. This would have been
the end Of h. had not Commissioner
Watkins, of &ae Department of Bank
ing ana insurance. insisted that erimr
inal proceedings should be instituted
against the deposed trea surer. He filed
With Prosecutor Of the Pleas William
speer, OF Hudson County, copy of the
report os the examiners. This started
the Grand Jury inquiry. 1t is still in
progress.
Robert Davis. Democratic leader of
Hudson County. figured in the case.
-Four notes aggregating 1900, and said
by higgins to have been made for
the benefit of Mr. Davis. whom he said
he represented in confidential capacity,
form part of tbs irregularities discovered
by the bank examiners.
What aroused the suspicion of the ex-
aminers found, had by system Of Jug
bank had received no interest, nor had
the proceeds from them been credited
to any one of the makers or indorsers.
Though surprised when the notes bear
ing his Endorsement were shown to him,
Mr.. Dayis acknowledged his liability to
the bank and gave check including in
terest for the whole amount.
In the course of their investigations
the examiners. discovered shortage of
1000. in the sinking fund account Of
the town Of Harrison. higgins, the ex-
aminers found, had by system Of Jug
Cling, succeeded in concealing the short
age for several months. He admitted to
the bank examiners and the officers of
the trust company that he had taken the
money and had falsifed the books.
With tears in his eyes. higgins plead
e4 bo be given twenty-four hours in
which to make good the shortnge. This
was granted, and at the end of that
time he handed to President William
J. Davis check for the amount. The
check was dated more than a month
previous, and higgins said he had re-
ceived 1t through some speculation he
had been carrying on. He said he
had held it hoping to get & chance to
deposit 1t in the bank and make good
The shortage, but the daily presence of
ghe examiners made it impossible to
10 this without detection.
higgins admitted to the bank officials
that he had been gaHnbling in Wall
street.
81 was successful at first" he said,
sand then luck turned against me. !
was hoping to, get back my losses, and
IL / had itewas my intention never
again to dabble m stocks"
Mr.. 'Miggias is about thirty-fve years
old He is one of the best known men
IN Jersey City,. having been prominent
in Democratic politics for number of
years. At present he is treasurer Of the
Robert Davis Association. 1t was said
last night that the Board of Trustees
we're investigating his accounts. When
the West Hudson County Trust Com
pany was established four years ago,
Miggins was Deputy Collector Of Taxes
under Collector Robert Davis. Before
that he was Assistant Postmaster under
Robert Jordan, former Comptroller OF
the Equitable Life Assurance Society.
He also held position as clerk in the
Gub-Treasury when the late Conrad Jor-
dan was Assistant United States Treas
urer. He lives in pretentious house In
Belmont avenue, the aristocratic section
If Jersey City,
Interested in the West Hudson County
Trust Company are Hamilton F. Kean,
brother Of the United States Senator; r.
Il. g. Young, Of Jersey City; John Fl,
WhaIen, Of Elizabeth ,and others well
known IN financial circles. The trust
company is highly rated and is strong,