New-York tribune., 1907-11-22
THREE BANK ARRESTS.
TEN INDICTMENTS FOUND
Coo, MARCEL and Campbell, of
Borough Institution, Held.

Yesterday as the result of ten indictments hand
ed up by the Kings County Grand Jury which
has been investigating the affairs OF that bank.
The three men arrested
William Cow. of the firm Of Ward & Cow.
&o Union Square West director of the Bor-
ough Bank and director and organizer of the
International Trust Company of Brooklyn; five
indictments, two for grand larceny in the first
degree and three for overdrawing his account
Howard Maxwell. president and director of the
Borough Bank: three indictments. for forg-
cry in the third degree and two for grand lar
cenv in the first degree.
Arthur D Campbell. cashier and director of
the Borough Bank: two indictments. for
forgery in the third degree and for grand
larceny in the first degree.
Mr. Cow and Mr.. Campbell were released on
hail Immediately after their arraignment before
Judge Foster of the County Court. but Presi-
dent Maxwell unable to raise the S3O,OD
bail demanded and spent last night in jail.
The three pleaded not guilty to every indict
r,ent Assistant District Attorney Elder sug-
easted $4,000 as the proper amount for bail on
each Indictment charging felony and 5000
on each Indictment for a misdemeanor Under
this suggestion which was accepted by the
court Mr. Cow was released on $4,000 bail
and Mr. Campbell on $4,000.
JURY STILL AT WORK,
Although the grand jury has already handed
in ten indictments a result of the invesu-
atio,, of the affairs Of the Borough Bank, it has
rot finished its work 1t will continue TO investi-
eete the bank and, as the result of indictments
handed up to-day, three bench warrants Will
he issued and before night it is probable that
these will be served on three persons who. al
though neither directors nor officials OF the
hank itself, nevertheless have played parts Ill
the transactions carried on by the three VINO
were arrested yesterday.
The three men arrested yesterday were taken
N Police HEADQUARTERS and photographed for
the rogues' gallery. They were also measured
under the Bertillon system. Martin W. Little
ton counsel for Mr.. Cow, denounced this action
on the part Of the police outrage. He
charged the police with kidnapping his client
from the District Attorneys Office while he
happened to be out. and he had many unpleasant
things to say about the efficiency and conduct
OF the Brooklyn force.
The two indictments against Mr.. Cow for
grand larceny in the first degree came as the
direct result of his efforts to organize the
International Trust Company One was based
on the S250000 collateral note signed the
Borough Bank. per Maxwell indorsed to Mr..
Cow. which he deposited in the Oriental Bank
as a part of the requisite 81 100000 of capital
stock of the International Trust Company. one
half of which had to be paid in before the
company could open its doors. The second was
based on the S145,00O cashiers check which
was signed by Mr.. Campbell at the direction of
Mr. Cow and Mr.. Maxwell and which later he
was ordered to charge TO the estate of Carrie
NJ Mcguire This check was used too. to raise
the capital for the International Trust Company.
REPORT TO SUPERINTENDENT.
The investigation of the grand jury tended to
show that falsifcations had been made in tho
report Of the Borough Bank to the State Super
intendent OF Banks This report. which was
made in June. was signed by the president and
cashier. From this discovery indictments charg-
ing forgery in the third degree made
egeinst both Mr.. Maxwell and Mr.. Campbell.
TFs l4:ter was also indicted for grand larceny
To- drawing the cashiers check for S145.OOO.
as vas Mr.. Maxwell for the part he played IN
thL- transaction. Mr. Maxwell indicted.
too. for drawing the S250.O00 note on1the Bor-
ough Bank.
The first Indictment against Mr.. Cow charged
him with grand larceny in the first degree,
committed on the Both Of September. 1907. in
taking S250o00 Of the property Of the Bor-
ough Bank and appropriating the same to his
own use" Another indictment charged him also
with grand larceny in the first degree, commit
ted on the 3Oth of September in taking and ap-
propriating for his own S145oO0 Of the
property of the Borough Bank" The other
three indictments charged Mr.. Cow with over
drawing his account when a director IN the
hank
According TO the Indictment the first time he
overdrew was on january 2, 1907. On that day
he drew a check on the Borough Bank for
$4,000 which was S24. .499 81 in excess of the
amount he had on deposit. On January Is he
drew check for $4,000. increasing the amount
he had previously overdrawn to $34.701 So His
last overdrawing was made on October 4, when
he drew and cashed a check for S73,O01 43. This
made his account overdrawn S72372 G5.
The first indictment against Mr.. Campbell
charged him with forgery in the third degree
committed on the 9th Of June, 1907 for will
fully, feloniously and maliciously falsifytng a
written report made to the State Superinten-
dent of Banks so that the total amount of
overdraws by depositors was represented to be
S2O1 81, whereas it actually was 900. or
thereabouts.'
INDICTMENTS READ.
About / o'clock yesterday the grand jury
fled into the court room. Mr.. Campbell was
brought in first AS each indictment was read
he pleaded not guilty. He spoke in tone or
voice that was scarcely audible. Mr.. 'pbel
spent, it is said. the greater part Of Wee y
might arranging for bail
William Cow evidently expected the grand
jury to find true bills against him. Yesterday
morning his counsel called Mr.. Elder over the
telephone and told him that Mr.. Cow would bc
produced when he was wanted. At II O'Clock
yesterday Mr. Elder called up Mr. Littleton
and told him TO bring his client
In the mean time Mr. Maxwell, ACCOMPANIED