The sun. [volume] (New York [N.Y.]) 1833-1916, 1908-03-23
ACKNOWLEDGEMENTS
AND RESIGN FROM THE PUBLIC
SERVICE COMMISSION.

Once Assistant Secretary Of the Treasury
the Company WIN Open for cuisines
at Noon on Thursday-NHmes Of Twelve
Of the Fifteen Trustees Announced.
The Knickerbocker Trust Company will
reopen at noon on Thursday with Charles
Hallam Keep as It's president. At a meet
ing OF the board Of directors held late SatuT-
day night the final plans for tho reopening
we're completed and the new board OF d.
rectors and the new president were named.
A. Foster Higgins, who has been the titu-
lar head Of the company since the death
Of Charles T. Barney, resigned and Mr..
Keep was selected by the voting trustees,
The meeting was held at the Fifth avenue
Offices Of the trust company. Henry c.
Prick, Myron T. HArrick, Lewis Cass Led
yard, who are the voting trustees. and
Herbert l.. satterlee, counsel for tho de-
positors, and several members Of the old
board Of directors who are 10 have a part
in the new organization Of the company
we're present.
A corps Of sixty special accountants has
been working day and night In two shifts
on the books, and il was decided on Satur-
day night that things we're far enough adj
vanced to make il possible to open at noon
on Thursday. Mr.. Keep will leave Albany
to-day and at once take up his work with
the Knickerbocker.
Mr.. Keep had already been selected by
the voting trustees as one Of the new dl-
rectors before he was fixed on for presi-
dent. He lie a graduate Of Harvard Uni
versity, class Of 81, and Of the Harvard
law school. After being admitted TO the
bar Of New York State, in Erie county,
he practised law in Buffalo, In 1909 he
was appointed Assistant Secretary OF the
Treasury. where he remained until January,
1907. when Gov. Hughes appointed him
Superintendent Of the Banking Depart
ment Of the State Of New York. In June
Of last year he was transferred by Gov.
Hughes TO the Public Service Commission
for the Second district Of New York, He
will retire to take his new post. While
Assistant Secretary Of the Treasury Mr..
Keep was appointed by President Rocse-
welt chairman Of the so-called Keep Com
mission, 10 improve the business methods
Of the executive departments, which re-
vised 20 a large extent the methods Of
doing business in the Government depart
ments at Washington.
The voting trustees also made known the
names Of the new directors yesterday,
with the exception Of three men whose
acceptanoes in writing had not yet been
received. Through Herbert l.. Satterlee
they gave out the following statement:
THE old board OF directors consisted
Of thirty-one members. Two OF these,
Charles I Barney and Leopold Wallach,
died subsequent 10 the suspension Of the
company. In accordance with the plan
for the resumption of business all the
remaining directors submitted their reelg-
nations, subject 10 the wishes Of the voting
trustees, who had been empowered 70
organize the board in the interests Of the
depositors The reorganization committees
both came TO the conclusion hat il wouldbe
better b have a board Of only fifteen. and
appropriate steps have been taken under
the bylaws for reducing the number by
accepting the designations Of fourteen
Of the old directors. The trustees decided
TO nominate ten gentlemen who had never
been connected with the company before
in any capacity and five who had pre-
viously been directors, Messrs. Bourne,
Boissevaln, Holman, Tucker and Whitney.
Those named are large depos.tors in the
company and we're not identified with the
former management.
Moreover they have been among the
most active OF those who have worked for
resumption in the interests Of the depositors
and have all subscribed largel TO the fund
of 81, 400 900 contribute ted by the stock
holders.
"Of the ten new members Of the board
the trustees are prepared TO nnounce only
seven at the present time, but they expect
to receive the acoeptances Of the other
three tonight or tomorrow. The new
board Of directors as far as chosen will be
composed as follows:
Frederick G.. Bourne, capitalist. ex-presi-
dent Of the Singer Manufacturing Company.
@. Louis Boissevain, banker, OF the firm
Of Kean. Van Cortlandt a Co.
Franklin Q. Brown, banker, Of the firm Of
II. 8. Redmond a Co.
Dumont Clarke, president Of the American
Exchange National Bank.
Edward H. Clark, manager Of the Hearst
estate.
j.. Horace Harding, banker. OF the firm Of
G. u. Barney 4 Co.
Charles +. Hoffman, real estate and in
vestments.
Charles II. Keep.
Hinsdil Parsons, vice-president and gem
-ral counsel Of the General Electric Com-
pany,
Herbert L.. Satterlee, lawyer. Of the firm Of
Ward, Hayden a satterlee and president Of
the Habirshaw Wire Company.
William A. Tucker. banker, Of the firm Of
Tucker, Anthony h Co.
Payne whitney. capitalist, director Of the
Northern Pacific Railway Company.