New-York tribune., 1907-11-19
BANK EVIDENCE STRONG
Continued from srst page.

$4,000 but declared II would be paid when due.
Other banks he said. had similar notes. but he
always paid up such obligations and would be
able to do so in the future.
According TO Borough President Coier the
$4,000 he is said TO have borrowed from the
Borough Bank came from William S. Hurley
personally and is secured by ample collateral.
1t seems that the Borough Bank had advanced
$4,000 to a sewer contractor. whose work was
held up and in order 10 save the bank Mr.. Hur-
ley took the contract and gave it to another
contractor, to whom an additional $4,000 was
lent by the bank.
BOROUGH BANK CONDITIONS.
A report of the condition Of the Borough Bank,
drawn up by counsel for the depositors. will be
read at a meeting called for the Columbia Thea
tre this morning. 1t will say that the bank
examiner found book assets Of s4,273,2ss and
liabilities Of s4,Os5OO He at once threw out
assets amounting 10 s17s34s. 1t was found that
loans made to William Cow were s1s6.43s. Sc
cured by collateral amounting TO s155.70o.
these loans being considerably more than the
40 per cent the law permits any one person to
get from a bank
1t was found that loans made 70 F. ". Doolit-
tie. Mr.. Cows secretary and others, which loans
are supposed TO have gone to Cow. amounted TO
S125145. Loans to Mr.. Maxwell. Mr.. Campbell
and John s. Jenkins aggregated 100000. The
by these men since the suspension OF the bank
will more than cover these loans The securi-
ties include the entire capital stock Of Belaire
Park near Jamaica, which owned by Cow.
Maxwell and Jenkins. A full list Of the call
loans and the time loans will be presented in the
statement.
One story told last night was that at o'clock
on the night before the Borough Bank suspended
two representatives OF a Manhattan bank. which
cleared for the Borough at one time. walked into
the office OF Mr. Hurley. in the rear OF the bank.
with note for s25O.00o signed by Howard Max
well president of the Borough Bank They de-
manded more security. but Mr.. Hurley refused
to give it, Next day Mr.. Maxwell admitted that
he had gone beyond his authority in issuing the
note without consulting the directors.
The affairs of the Jenkins Trust Company. OF
which John G. Jenkins. jr, was president. and
the Williamsburg Trust Company. OF which |
Frank Jenkins president seem TO be much |
involved with those of the Jenkins family and
the stock brokerage firm of F. & J. G. Jenkins. |
jr & Co. or the stock Of this firm. 1900 shares |
in all. 400 each are held by Frank and John c., !
jr 900 by John G. Jenkins. ST.. and 100 by Fred |
Jenkins. another son. 1t would appear that they |
needed a great deal of money TO carry on the |
operations of this firm. and much of it OBJ |
tanned from the two trust companies.
SOME JENKINS TRUST CO DEALS.
Two directors of the Jenkins Trust Company |
authority for the statement that in the two |
days prior to the suspension of that institution
John c. Jenkins. jr.. the president, got s1O4. 900
In cash without any security. Later 1t is said. |
he put up stock Of the brokerage concern as |
collateral. II is said that either personally or |
through friends Mr. jenkins got $3.50 in loans
from the company. Hugo Hrsh. a director |
speaking yesterday of a session he and several |
directors had with the president and W. A |
Conklin the secretary. a few hours after the sus-
pension of the institution. said: 1--WE asked the |
secretary to read us some of the loans. Then |
asked for the identity of the men to whom some |
of the loans had been made We found that |
some of them were clerks in the Office of +. & |
J. G.. Jenkins jr. & Co. I said TO Mr. jenkins: |
so you took all this money without letting the |
directors know anything about it oh, il wasn't |
for me- he replied 1t was to protect Gus |
toners
OOp taken without collateral. the stock of the |
stock brokerage firm. the Williamsburg Trust |
Company and OF the First National Bank had /
been given as security for the 1857 900"
The williamsburg Trust Company, of which |
Frank Jenkins was president and John G.. Jen- |
kins, sr was director (until they were forced |
out after the suspension). has for some time car
ried heavy loans for the Jenkins interests
Only a small part of these loans were carried |
in the Jenkinses' names, but most of them |