New-York tribune., 1907-12-13

adiournments had been taken before the "Spe-
cjal Term" and not before Justice Belts, as
cited in the order.
DENIES BAD FAITH ON GROUTS PART.
c. Walter Randall, appearing for the bank
denied bad faith on Paul Grouts part as he
had remained away because he had notice or
Judge Smiths stay and would respect IT. F. W.
Sparks. representing depositors, urged that ef-
forts were being made unduly to rush the bank
into the hands of receiver. Justice Belts SAID
he would honor Justice Smiths stay and sug-
gested that Mr.. Mackey apply to the latter for
an order vacating the stay, inasmuch as the
affidavit which the stay was granted con-
tained statements not appearing on the record
Mr.. Mackey said he would consent TO the ap-
pontment of a referee with power to sit in
Brooklyn. This opposed. Justice Belts
directed that the Borough Bank case be ad-
journed until Tuesday morning at 10 o'clock
The motion for change of venue will be heard
by Justice Fits. at Albany. Saturday. Mr..
Mackey said the condition of the Borough Bank
was rotten" He submitted letter of Mr..
Grout, Offering to serve counsel without
making any charge for services. and asked
whether he expected to be paid by the people
who sought protection from investigation.
Twenty-three hundred depositors have signed a
deferred payment agreement.
The application by D. F. Manning, attorney
for the South Brooklyn Cooperative Building
and Loan Association, a preferred creditor, for
the payment of So, I72 81 deposits. was opposed
by Clarence J. Shearn, counsel for Receivers
Cox and Powell, on the ground of insufticiency
of the moving papers, and was denied by Justice
Belts. with leave to renew.
In the of the Brooklyn Bank Philbin,
Beel,man & Menkin appeared for the bank.
Charles NJ. Stafford and David Wander for de-
postors, and OBren, Boardman & Platt for
certain stockholders A stay similar to that in
the Borough Bank case served Mr..
Mackey by Mr.. Menkin. 1t granted by
Justice Smith at Elnira at IL o'clock last night.
No motion for a change of venue having yet
been made. Mr.. Mackey moved to vacate the
stay, because notice had been served on the
Attorney General, and that Mr. Hasbrouck, the
temporary receiver, be made permanent re-
ceiver Mr. Menkin charged the Attorney Gen
eral with not trying to conserve the interests
of stockholders or depositors, but with looking
only after the receivers interests He charged
the receiver with spreading alarm and creating
an atmosphere of dstrust, while the bank was
perfectly sound. The depositors Of this bank
and of the International Trust Company, for
which a receiver also had been appointed. he
said, intended to seek relief from the courts
everywhere, and a stay similar to the others
had been granted in the international Trust
Company case
Justice Belts reviewed the proceedings and
said it seemed to him the depositors had re-
ceived everything they had asked for but ap-
parently not satisfied, had gone elsewhere to
get orders staying proceedings Mr. Menkin
urged that for the convenience of all parties the
proceedings should be in Brooklyn How much
nearer is Elmira or Albany than kingston
Justice Belts asked. This ended the moving
session.