New-York tribune., 1907-11-20

which would have been understood by the stock
holders had they received the first notice an
nouncing the proposed merger But through
the stupidity OF a lawyers clerk, as the story
was told, the second notice was sent out first
Being unprepared for any announcement
about winding up" the stockholders who re-
ceived the notice on Wednesday morning, at
once began TO get their money out of the insti-
tuition The run went on quietly all day and
increased on Thursday. At the close of bust
ness Thursday the cash hand amounted to
only S1460O0 Every effort was made late in
the afternoon and in the evening 10 get more
cash the securities held by the institution,
but the quest of the directors was in vain
Then. the advice Of a vice-president of one of
the big national banks in Manhattan was sought
and he said that 10 suspend was the best thing
TO do 1t was early Friday morning after
a nerve rackng night, that the directors de-
cided TO tack up the suspension notice which
created CONSERVATION in Brooklyn banking cir
cles the next day, accompanied. as it was with
similar notices tackled the doors of the In
ternationai Trust Company, in Manhattan, and
the latters branch in Brooklyn, known for
merIy as the Brooklyn Bank
The affairs Of the International Trust Com
pany- which had its banking office at broadway
and Fulton street. Manhattan are to be investi-
gated by District Attorney Jerome This inves
ugation Will Of course. include the BROOKLYN
Bank, regarding which little has been said IN
10 me present time. Borough President Bird
; Coler said yesterday he no longer owned an1,
stock of the Brooklyn Bank having disposed of
the last ten shares some three months ago. He
mas loans from the bank amounting to some
$4,000. which are amply secured he savs
All OF the receivers of the yariouS T2-ool-,,.,
institutions under suspension, recentlv sppoint
Gu og justice Belts at the instance Of Attorney
General Jackson, appeared before the latter
yesterday filed their bonds were sworn in and
received their instructions They will take
charge of the banks and trust companies for
"hicn they were appointed this morning.
DEPosIToRs TO PROTEST
Protests against making the receivarsbtr-
permanent will be made on behalf Of the de-
posltors Of ali the institutions when the question
"oIIies UP Tor argument week from Saturday
mere was stormy meeting of the depositors
OF uhe Borough Bank in the Columbia Theatra
yesterday morning Early in the meeting e,ar,,-
"o0y seemed TO want to talk at once and the
suspicion that depositors were being "acceler
HOeo by interested persons was voiced The
iepOIl OF the high finance unearthed in the
management of the bank together with tho
"
me bank examiner. which was given in. outline
IN The Tribune yesterday was read. BEFORE .ra
meeting adjourned a resolution was nassed 20
Forihg the signing by the depositors Of an agree
"ell 10 accept deferred payments on their ac-
counts in case the bank resumed Another
meeting viii be held in a few days
Inc board Of directors of the WILLIAMSBURG
Trust Company held meeting with a commit
zee OF the depositors at the main office of the
institution, on the Williamsburg Bridge Plaza.
yesterday noon. Frank Mann. chairman of tbe
oepositors' committee was told there was no
truth in the rumor that some OF the directors
had drawn out large amounts on deposit shortly
oe1ore the institution closed its doors. William
n Dykman has been retained to fight against
making the recevership permanent
one OF the directors denied last night state
ment that Joseph Liebmon, a director, had Of
fered 10 subscribe 100000 toward putting the
trust company in a position to resume business
What we need is cash" said the director land
that Is just what We can't get. We have over
SIo0o0G0 In deposits to look out for. and would
nave TO have hacking i'm cash to that amount
So far we have been unable to get anything. 1t
seems that the officers Of a Manhattan bank
agreed to finance the Williamsburg Trust Com
pany. but the board of directors of the Manhat-
tan institution turned the proposition down"
MOVEMENT TO DEFEAT JENKINSEs.l
1t was learned last night that just before the
suspension Of the institution movement was
suggested TO get proxies to defeat Frank Jen-
kins for reelection president and John G.
Jenkins his father for reelection as a drectoi
at the annual meeting due within short time
The directors of the Jenkins Trust COMPANY
heid prouacted meeting yesterday afternoon.
II was said later that far no evidences of il
regular banking had been unearthed except in
1he many cases of overloans So far as could
be learned the various members of the Jenkins
famly-John G.. jr-. president of the institution
up to the time il suspended: Frank and John
G., sr.-had not put up any additional security
on the $4,000 in loans that they got, directly
or Indirectly, from the institution.
Apparently the directors of the First National
Bank OF which John G. jenkins ST. is presi-
dent, are finding it exceedingly difficult to make
any arrangement for the reopening of the instf-
tuition. J. w. Schof1eld. national bank exam
,ner, who was placed in charge as receiver by
the Controller of Currency, made his report Oh