New-York tribune., 1908-03-18
ORIENTAL WINS AGAIN
JACKSON IS CENSU RED.
4ppelIote Di5isiiom 4ffrms Order
DismissiRe Receirers.

.,.or,ex- General Jackson was severely CEN
sured in decision handed down yesterday oy
the Appellate Division of the supreme Court
affirming the order of Justice oGorfnan IN us
missing the temporary receivers appointed ior
the Oriental Bank at the request OF the Attor-
nev General The decision is a victory Tor the
6enositors and stockholders of the suspended
hank. as; the higher court decides that the ORR
enta is absolutely solvent. This means that
,he liouidation ARRANGEMENT with the Metropoli-
-an Trust Company may be carried out.
Hugh Kelly. president of the Oriental. when
seen at his home last night and told of the oe-
cision said: Il am delighted at the acton OF
the Appellate Division. 1t is exactly What
expected / do not believe that Attorney Gen
eral Jackson will carry the case any 1ur'hei
after two courts have decided against him.
Asked if the deal with the metropolitan trust
COMPANY would go through now MT hehy
said: 1t certainly will. just as SOON aS We se'
rid of the receivers. The plan has already been
s,.a h,- the officers of the Metropolitan Trust
,,or,nar, and will sign il just as soon as the
,.,,,,,;o, forbsddine me 10 do so is vacated
,,,;.,,s .ha. ,be oriental depostors will be paid
in The very near future
fsravton Ives. president of the MeoroPohtah
r-ust COMPANY when informed OF the oecisoh
-, renorrer for The Tribune. said: i 90 not
=. - -be Appellate Division could nave come
- any other conclusion IN tne CASE ain
1900 70 get the news. AS for the deal with
.ta Me,-opoltan Trust Company by which the
so,os;+ors of the Oriental Bank are 10 be PAID
Gee nothing now TO prevent its successful con-
,,,,.1ion / am ready to carry out my part
Of ii"
COURTS DECISION UNANIMOUS
The decision was unanimous. Justice Housh-
ron writing the opinion. while Justice Laushiin
--o-e a senarate review Of the case. in Whlch
Re rafer-Ad 10 certain questions which he
-bouqn1 were not properly before the court In
regard to the action of Attorney General JACK
son in procuring the appointment OF reoe
for the Oriental the opinion says:
Instead Of giving his approval or sisnl1yiis
his iisapproval. or doing something eAceP' ~
say that he would take the matter up Win " TIC
ss-c-erin-en6ent of Banks at his earliest oTpo'-
ru7gir,-. which he does not appear 10 nav. uoi|
fe instituted this action 10 dissolve the otIehu
enr on the ground that II was lnSoiNeht' anu
,hsr il WAS unsafe and ineNpeCient for III 10 Con
,inue doing business. and that II was uldu.e
- a. 80 --ha complain verified on tepru-
Ar % by the Attorney General hlInsen: vi
-ra- eaz- upon the complaint alone. without am
supporting affidavit, he appiled TO lhe couI =.
,,a,te for The appointment of temporary receN-
a-s The order recites that sufficient reason APP
1,ae-ed for dispensing with notice or the aPpil-
cation and contained an order 10 snow cause Sn
March - why the receivers should not De nlaue
r,err7srIerlt on the following day on the appH-
r.r5or, o< defendant in which more than go per
cent of the depostors and more than 40 per ceiit
cr the stockholders OF the defendant joined the
sar,e ifdge who granted The order dppolnllhs
rt-e receivers made order requiring the Al
7hv the order appointing them should not oS
sef aside