New-York tribune., 1907-12-03
LOOKING INTO LOANS.
TRUST COMP4NY REPORT,
More Indictments Erpected III
Brooklyn Banking Case.


yesterday. there is good chance of several
more indictments of men connected with the in
s-itution at the time of its suspension it is
said
a part Of the grand jury's time was taken up
with the examination Of Henry NJ. White.
hookkeeper of the Borough Bank regarding
changes made in the books between the end of
banking hours and the following morning, when
the notice of suspension was posted on the
doors. He is understood have said that the
hooks were all right when he left the bank at
G T. n and that he had no knowledge of any
changes in entries.
The report of John Muhall temporary receiv-
er Of the Jenkins Trust Company. given out by
Attorney General Jackson last night. shows that
institution 10 be in better condition than some
of the other suspended institutions. According
10 his figures about 81 DO 900 will be needed to
resume business A director said last night
that this sum had been practically arranged for,
and they would be able show Justice Belts
at the next hearing that there no need OF
making the receiver permanent.
According a member of the depositors'
romrnittee of the Borough Bank William S.
Hurley, when asked for explanation of the
stories that Withdrawals had been made after
the close Of banking hours the last day of
business, cleared up several doubtful transac-
tions. Mr. Hurley declared on his honor he had
never given any tip 10 the sllaky condition
of the bank to any Of his friends. He had not
drawn out any money: the other hand he
had put about $4,000 in in effort TO
the institution. These statements were made
al q meeting Of the depositors' committee last
ing until ! o'clock yesterday morning.
There were nine witnesses before the grand
Jury yesterday to testify regarding transactions
Of the Jenkins Trust Company. Among them
were the following directors: H B. Scharmann
and H. T. Scharmann. Hugo Hirsh. James Mof-
fett and DR.. J. E. De Mund. Julius Kronrot,
formerly q director, whose liabilities TO the
company include s44445 IS in personal notes
and S24 121 67 IN notes Of which he the in
dorser was also q witness. Since the suspen-
sion he has made an assignment OF his business
10 & trustee and resigned as director. He was
q jeyvelIer who got his head by going into
the building business. The trust company is
confident Of realizing enough from the business
10 pay it's claims.
The receiver estimates the money needed to
resume business follows:
ITO nav the Fins. National Bank Of Brooklyn
C1is bank is reoever1... 100000
Ito pay other about. $4,000
III-To pay savings banks deposits preferred. 100000
Iv-To the first 10 per cent instruments to o ooo
vTo saT detcstors who do not or cannot
10 per cent IN amount OF deposits $4,000
Totsl oash needed -sl'2to.ooo
The available resources, he says, includes
bonds and stocks at present market value $780,
900: bonds and mortgages. par value, s4so.ooo;
call Loans. ss6s.oO0. Regarding the call loans.
the report read:
Frank and G jenkins s557 coo
TT FhS5P99 % & n pg5ay H5rstsnis Nj TIrsh claims his
Signature Endorsement BE forged one)-- 5000
Brighten Beach Racing Association ooooO
Toeei ---sSo4ooV
Hugo Hirsr when informed Of the reference
to a $4,000 loan alleged to be in his name, said
last night that the receiver nsinforrned- II
am" he said, the indorser $4,000 note
made to accommodate John G. Jenkins, sr, and
signed by him as well as by Frank Jenkins
But my name comes third the list I do
not deny the authenticity Of my signature. but
deny the immediate liability. II should have
been easy for the receiver TO have discovered
the true facts in this case
Later in the report it is stated that this S45 900
loan is secured by 400 shares Of Interborough-
Metropolitan stock, Of a present value of only
$1,000. Mr.. Hirsh said he did not know what
the security was The only personal note Mr.
Hirsh has IN the company is for 81. 500. amply
secured by Title Guarantee and Trust Com
pany stock
Regarding the Jenkins loans and the Thomp-
& Dundy loan the receiver says:
The collateral to the Jenkinses' loans con-
tains. among other things, S1S,900 Of the stock
If the Williamsburg Trust Company. and 500
900 Of the stock Of the First National Bank of
Brooklyn Both of these institutions are CLOSED
and in the hands Of a receiver. and it is appar-
ent that but little money could be realized on
the stock at this time
Outside of a S26500O second mortgage on
real estate, the Jenkinses' collateral was valued
by the examiner at about S1SoO00 which in
Guides about $4,000 for tie stock of the Will
.aInsburg Trust Company and the First National
Bank Of Brooklyn. So that the Jenkins coat-
sraI upon which cash can be Immediately
raised must be set a figure not higher than
$4,000
The collateral 10 the Thompson & Dundy
loan consists Of bonds of the Luna Park Com
pany, Of the face value Of S152.G00, and 1907
shares Of the stock Of the same company and
1000 shares Of the stock of the Hippodrome
Amusement Company.
The net sum which could be presently real
zed from all of the SsO4. .OOG of collateral loans
EiIl not exceed $4,000, to which add the bal
anoe Of the collateral loans. assumed to he good
about 10000. and we have a total available
but Of call loans Of S175000"
The trust company held about 100000 in
state money. secured by deposit Of state canal
bonds. With the consent of the directors and
receivers this liability was wiped out on Friday
by the sale OF the bonds by the State Con-
troiler
Among the notes for which directors were re-
sponsible. according TO the report in addition
o those already spoken Of. are the following: =
= sharulann maker, $4,000; Fred Jenkins
IS maker $4,000 Albert Levi, as indorser $40
~ and Nathan Mintz. as indorser S4.944
mere was also loan made TO Frank & J. c
Jenkins. jr. the JENKINS brokerage house. Of
<-Nrx-