The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-12-05

Observation-Disclosures Bapst says He
Isn't Here From Buffalo to Get Loot.
Several indictments nave been voted by
the Brooklyn Grand Jury in the jenkins
and Williamsburg Trust Company cases.
They will probably he handed down this
week. IL is understood that the indict-
ments will be for ~felOnies and that they
will bring some new names into the Brook
lyn bank scandal.
Fifteen witnesses from the two trust
companies were examined by the Grand
Jury yesterday. They included these di-
rectOrs of the Williamsburg Trust Com
pany: Marshall L.. briggs, John W. Webber.
j. II. SchieI, r. +. Jackson. r. L. Whalen.
Charles >. Edwards and F. y. Lemmermann
Several clerks from the brokerage firm Of
f. E J. G.. Jenkins. Jr. also were examined.
These clerks ave loans in their m
amounting 10 about s25O,OOO. Albert Schai-
BILE. one Of the clerks. borrowed s42, 100;
Fred C.. Young Sis. 900, Fred Kaiser s59,OOO
and Waldo Hunter $1,000. All OF these
clerks had also borrowed from the Jenkins
Trust Company. Il was in connection with
their loans amounting to SSS7,O 900 That the
three Jenkins brothers were indicted for
forgery ia the affairs of the Jenkins Trust
Company.
Fred Jenkins, one of the brothers, also
has a loan of sJO.OOO from the Williamsburg
Trust Company, and c. II. Reuter-, another
Jenkins employee. is indebted 20 1t TO the
extent OF sI7i 900. 1t is said that the col
lateral on -rhe Reuter- loan %uoun to only
S7s, 900. James l.. Hart, John q. Jenkins's
son-in-iaw aiso nas a loan from the Will
iamsburg trust Company for $4,000, the
- e. mich - uaiA 20 hA worth
only Sl2, 400.
Steps nave been taken by responsible
bankers in Manhattan to organize a syn
dicate to furnish to the Jenkins and Will
iamsburg trust companies and 10 First
National Bank OF Brooklyn sufficient cash
to enable them TO resume business. The
plan contemplates the taking owe OF these
banks by the syndicate. The Jenkinses
are the heaviest stockholders in all OF these
institutions, and it 10 understood that they
are negotiating with the syndicate.
Just how much cash would be required
to put through this plan has not been made
public. Receiver Mulhal of the Jenkins
Trust Company has given 10 az his opinion
that at least 81, 2jO,OOO would be necessary
to enable rhat company 10 resume. At
the same time he estimates mat the re-
sources which could he readily converted
into cash amounted TO only soti'UOO. The
directors have disputed these figures,
! anu the state Banking Examiner has certi-
fed that the company, in his opinion. has
q suTplI;S OF Sl9' ,OO0, with It's capital intact.
In the case of the Williamsburg Trust
Company the rerpiNsr said yesterday Thar
the company had only StOO.O00 in cash
and that more than his amount was re-
quired 10 pay of the overdrafrs in the
First National Bank. which was the trust
coupany's clearing agent. Mr.. Bapst said
that he had ETeceived word from State
SUPERINTENDENT of Banks Williams that
his claim OF the First National Bank must
be one pS the first paid.
The affairs of the First National Bank
are in tho hands OF u representative of
the Treasury Department. and its con
, dition mas not been made public.
ANY proposition by a syndicate will
have 20 be made before December ~, which
is the date set by Justice Retts for the argu-
menta ON making the receiverships per-
mlnent.
Neither the directors OF the Williams
burg nor of the Jenkins Trust Company
have been consulted in regard 20 this syn
| dIcate plan. They are going ahead with
their plans for Tesuming. and declared
Yesterday thai they would be able 10 make
a satisfactory show ing before December -.
Receiver Bapst of the " illiamsburg
| Trust Company took exception Yesterday
10 some of the criticisms that nave been
made of the Attorney Generals receivers
Some people seem TO think " said MIR.
Barst, that ILhaVc. come down here from
Buffalo to loot this company. [ probably
have aS much money AZ some Oh the dIreC-
tors Of this bank. l am not here TO do any
looting. Tn sooner I get through with
this Job the better il will please me-"
Mr.. Bapst added that he believed there
were some very competent men In The
Williamsburg's board OF directors. The
trouble with them. though, was that they
relied altogether on the Jenkinses. Mr..
Bapst said he couldn't find that the board
even had a loan committee.
In regard to the S25. 900 which the court
had allowed him for receivership expenses,
Mr.. Bapst said it was all TO be used in paying
the expenses of keeping the trust company
buildings going. Nothing would be paid
out by him except under court orders. and
not a cent of this money was going for per-
sonal expenses or legal fees.