New-York tribune., 1907-12-27
HAMILTON BANK MERRY
IT'S RECEIpER REWOpED.
Depositors Serenade President Mont
gomery and Thank Court.

gomery, and Thank Court.
1erositors of the Hamilton Bank. which Will
reopen on January ,, showed their confidence in
William r Montgomery, the president ana
their appreciation of the action OF the Supreme
Court in issuing order for the discharge of
the receiver yesterday by remarkable demon
stra;ion In the streets of The Bronx last night.
Headed by brass band of thirty pieces, the
depositors' committee and large number Of
depositors marched from Third avenue and
I11th street to Mr. Mont yorlery's home. No.
1851 Anthony avenue A squad Gf police COM
nandcd by Captain James NcGlynn, of the
fremont station, cleared the way for the pro-
cession and formed lines around the house TO
keep hack the nearly four thousand persons
who gathered to hear the brass band serenade
As the procession passed The Bronx B 1r oUgh
Bank. at fremont and Park avenues. the bank
which Mr.. Montgomery says triSd to keep the
Hamilton Bank closed, the band played a lu-
neral march Mr.. Montgomery and his wife
greeted the serenaders the stoop of ;hefr
home, and he handed a copy Of ehe tee
gram which the depositors' committee sent 10
Justice Belts of the Supreme Court, Kingston
y. Y, thanking him for his decision The teie-
gram follows:
Justice Belts. Supreme Court Kingston. \. ].
God bless YOU yours for your act OF justice IN
'"e 'na''er o. ''e ii5HitS DEPos1ToRs' coMMITTEE-
MONTGOMERY MAKES SPEECH.
There were speeches by Julius Haas. a, real
estate dealer of The Bronx and one or the
largest depositors; ex-Police Captain James
Price and Mrs. Agnes Murphy Mulligan, law
YER After short concert by the band MI.
Montgomery called upon and he said;
Il am grateful for this remarkable demon
stration of confidence. This would not be pos
sible but for the So per cent Of the deposltors
of the Hamilton Bank who not only beleveo'
and in my judgment still believe, in the SOW
tncy OF the bank but in the problty OF the OH
GERS and directors. 1 do not regard this as the
time or the place for any personal defence MY
yindication will come from other quarters
court the closest investigation that the grand
iurv can make. From the time the Hamilton
Bank closed until the present moment nave "a
bored night and day for the reopenlns Oh 'lo
bank and the payment of every oeposltor III huI1-
such zeal as 1 have shown has necessarily
brought upon me scurrilous attacks lrolh 'il0
enemies of the Hamilton Bank who have reasons
for keeping the institution closed 1 do not owe
the Hamilton Bank dollar and have never owed
II q dollar The technical overdrafts so widely
advertised were inadvertent on Sny part ana
upon my attention being drawn to them were
Immediately made good
Il never kept my business account in the
Hamilton Bank. II was an account for tne CON-
yenfence OF my family, and as scores OF ousl-
ness men before me who received the checks
know full well, they were signed by no Mont
rou,ery As for Mrs. Montgomery, If she chose
70 destroy her cancelled vouchers she had a
right TO do So They were her own property
The bank had control over her interest IN
them Now that the court has granted perrnls-
sion for the bank TO reopen feel that my efforts
have not been in vain
Mr. Montgomery was cheered for nearly five
minutes when he finished speaking
PLAN FOR REOPENING.
The Hamilton Bank. in West 125th street, with
its six branches having more than ten thousand
depositors closed on October "a, at the time or
The financial furry. and was placed in the hands
Of q receiver soon after The removal OF the
receiver by the decision of Justice Belts, OF the
Supreme Court, sitting at Kingston, is VIC
tory for the depositors, who have contended all
along that the institution could be rehaoiltated
If q chance given it
The order Of the court directs Frank Whlte
the receiver to turn over the banks property
and appoints Clarence Z. Bloodgood, of Catskill
n Y referee for the purpose Of passing on the
receivers accounts. Neither the Attorney Gen
eral nor the State Superintendent of Banks op-
posed the application of ex-Judge Alton b.
Parker counsel for the bank Justice Belts
expressed the opinion that the bank was IN
proper condition 10 reopen
The bank will be opened under the plan out
lined bv ex-Judge Parker in his argument be-
fore the court This plan provides for the pay
rnent to depositors follows: Ten per cent OF
deposits upon the reopening and three certih-
Gates of deposit one for Is per cent OF deposits
payable in ninety days. anoth er for Is per cent
navable in six months and another for 90 per
cent payable in one year.
This plan. however, will apply only TO those
depositors who signed an agreement TO accept
navment in that form The agreement was
signed bv so per cent of the depositors The IN
s,i.r,tions il is said that have lent their support
"a ,ba Hamilton Bank are the Carnegie Trust
f-ororanv and the Fourth National Bank An
o68cial Of the bank said last night regarding ule
charges that have been made that President
Montgomery removed certain vouchers two days
0oer the suspension:
sYshe checks and vouchers referred TO repre-
.r.ed The nersonaI accounts OF Mr. Montgomery
md his wife They had right TO them MI
MONTGOMERY has fought almost single handed 10
ohtai, the money for the depositors and for the
reoneninr of the bank and he has made many
.,en,ies for there has been great misuhder-
standing. But he is vindicated now and every
hosv is TO get his money"
The grand jury investigation into the af1alrs
r., the hank will be resumed on Monday py ISL