New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-17

BROOKLYN Bank the Jenkins Trust Company and
she international Trust Company
The application in each instance was based
upon affidavit sworn 10 by Mr.. Williams, Su-
SeTintendent of the state Banking Department,
stating that il was necessary that the affairs
OF the bank should be administered by re-
ceiver. Justice Belts appointed these tenn
porary receivers:
l3apst. of Buffalo, bond. 100000; repositories,
Farmers Loan and Trust Company and the
Nassau Bank OF New York.
Hamilton Bank-Frank White, Of New York;
bond, 100000; repositories. Title Guarantee
and Trust Company and the Fifth Avenue Bank
Borough Bank of Brookyn-Henry A. Powell.
of Brooklyn, and Isaac y. Cox. Of Ellenville,
ulster County; bond, 100000 each; deposi-
tories, Union Trust Company and the Bank of
Manhattan.
york; bond, 100000; repositories. United
States Trust Company and the Corn Exchange
Bank Of New York.
BROOKLYN Bank-Bruyn Hasbrouck of New
1altz: bond, $4,000; repositories, the Cen
aTal Trust Company and the Bank of America.
International Trust Company Goodwin
Brown OF Yonkers; bond, 100000; depository
ahe Bankers Trust Company.
. Mr. Bapst is managing director Of the German
tAmer1can Bank OF Buffalo. a director OF the
columbia National Bank Of Cuffalo president
or the Buffalo Dredging Company. president OF
The Buffalo Expanded Metal Company, president
OF the German Rock Asphalt Company a large
tndependent oil producer, a large stakeholder in
Phe Lackawanna Steel Company, and is sub
stantially interested jn various other enter
prises- He was selected TO audit and wind up
the affairs of the Pan-Anerican Exposition Com
pany at the time the federal government ap-
khe company.
Mr.. White was first Deputy Attorney General
uncer Mr. Jackson. and since the first of the
year has been the legal adviser for the State
Banking and Insurance Departments. He is
has law Office at No 80 Liberty street New
York City.
Mr.. Powell is attorney-at-law. residing IN
55rooklyn; with offices at No 206 Broadway.
New York City.
Mr.. Cox is former member Of Congress and
Is now president OF the First National Bank OF
Mr.. Mulhall is a real estate dealer. with Of
cices at No. 1913 Broadway New York and is
heavily interested in real estate I'm Manhattan
and Brooklyn.
Mr.. Hasbrouck is merchant and large
prick manufacturer at New Paltz. and is also
engaged in the real estate and insurance bust
mess.
Bt No 1s2 Broadway. New York City He was
pardon clerk under former Governor Cleveland
n-unacy Commission. where he served for fifteen
bears
TRIED TO REJUVENATE THEM.
It was on October % and 26 that superin-
sendent Williams Of the Banking Department
Eepcrted 10 the Attorney General that he had
company, the Hamilton Bank, the Borough
Bank, the Jenkins Trust Company and the In
Fernauonal Trust Company. and that 1t was un-
safe and inexpedient for those institutions to
continue doing business.
: The statute requires that upon receiving such
reports from the superintendent of the State
thanking Department the Attorney General shall
proceed at once in the courts against the in
solvent institutions. The language of the stat
Slte is mandatory in this respect, but Mr. Jack
son was anxious to give the banks ample oppor-
auntty to secure the necessary additional re-
sources TO enable them TO safely resume bust
mess. and he accordingly refrained from taking
lsny action until to-day. Both the Attorney
general and Superintendent Williams sought to
cooperate with the officers and directors OF the
closed banks in an effort TO put them on their
feet again On Thursday Superintendent WILL
aaIns informed the Attorney General that the
Franks mentioned were unable to secure the nee
sssary additional capital. and that they should
Zoe placed in the hands of receivers without
further delay,
LAW VIOLATED. HE SAYS.
with respect TO each bank mentioned. Super
insenoent Williams yesterday made an affidavit
part of which is follows
! ~That from his examination of the affairs Of
abe said defendant (bank) and from his knowl-
edge OF its condition, deponent further says that
slnabIe TO pay fits deposltors and other creditors
promptly on demand and in full. and that it
alas become and is necessary that the affairs of
the said defendant shall be administered by a
sSeceiver or receivers 70 be appointed by and
Subject to the direction OF the court
Not until these afidayits were received did the
attorney General proceed. and he will continue
30 cooperate in all efforts 10 rehabilitate the
Banks now in the hands of temporary receivers
During the last few days, Attorney General
jackson has had the services Of one of Super
sntendent Williams's experts in investigation
of the books and other records Of several of the
snsolvent banks for the purpose Of PROCURING,
evidence as TO the civil and criminal liability of
the officers and directors of these banks
Evidence of both civil and criminal liability
4p the opinion Of the Attorney General, has been
f1nearthed and the investigation thus far has
been confined to the Borough Bank of BROOKLYN
end the Jenkins Trust Company
In the Borough Bank of Brooklyn there has
been found evidence of illegal overloans over
drafts, forged paper and other criminal trans
sctions, all Of which will be presented to the
grand jury.
In the Jenkins Trust Company there has been |
SOund evidence of illegal overloans. For in |
stance the records show OVerloans to the presi-
dent aggregating S557,000. The banking law
prohibits the loaning to any officer or director |
~ more than 10 per cent of the capital stock |
End surplus and also prohibits a loan Of any