New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-12-03
LG. JENKINS ACQUITTED
TRLST COMPANY HEAD
FOUND NOT GUILTY.
Other Charges Still Stand -4gGnst
Brooklyn Banker, Indicted
FoUo5cing Panic.

rohr C. Jenkins. the eX-president Of the Jen-
,s-s Trust Company. who had been on trial for
=. last ten days in the Supreme Court, Brook
= IN the charge of enlbezziing $4,000 from
:. t-s,fr,,tfor on October %. 1907. was acquitted
--.-serdav afternoon The jury went out about
-, O'clock and delibersted for FIVE hours before
,--,,,~rirC lis decision. The verdict was
20, 5fsarpointment to District Attorney Clarke
Assistant District Attorney Elder who con
- The prosecution Mr.. Jenkins the
8 n 4re BROOKLYN bankers to be indicted fol-
80 -7e manic Of 1907. He must still face
,-sir-rnents for conspiracy. perjury and false
- He has the privilege Of being tried on
80 indictments in some other county.
r. r9fs-rict Attorneys Office placed much i'm
-,--ance upon the trial Of Mr. Jenkins. II was
Il-.--r-- helieved that the juries which would
=. The other indicted bankers might be inffu-
80 70 some degree by the findings of the first
49, Evidence was produced by the prosecu-
- - an effort 10 show that Mr.. Jenkins, as
-.ss.--t Of ,he trust company. had made loans
--sra-frg 500 600 tc six dummies. The dunn
-,ss II was proved. were clerks IN the brokerage
g., u Frank & John G. Jenkins, doing business
- NJ - Broadway. Brooklyn, and that the
-,o-e~ never was seen by the dummies, but
-ssess jr-uedfately into the hands Of the bro
ts-s Il whom the defendant was one.
vfuis~7 A Corklin. ex-secretary Of the trust
oo--rsrv. was ore Of the chief witnesses He
,es-f@ed as 10 the dummy loans and told of his
removing from the envelopes part Of the Collat-
e-al securities left 70 insure the loans and Of
returning them 10 the brokers at the request or
N- jenkins Several directors We're placed on
rbe stand 10 prove that Mr.. Jenkins acted on his
o.r- accord and without their knowledge.
The specific crime for which Mr.. Jenkins was
Of IeFo
-he doors Of the hank were closed. Mr.. Conklin
testified that on October 23. when the bank was
y dire straits for money. the brokerage firm
called upon M jenkins for the money through
Charles H. Reuter-. clerk Mr- Conklin said
r told NJ Jenkins that the collateral was in
sufficient but that Mr.. Jenkins had ordered him
q ler NJ. Reuter- have the money. The check
with which the funds were withdrawn was eX-
hibi,ed - part Of the evidence.
Stephen g. Baldwin. Mr. Jenkins's attorney.
tried 70 prove throughout the hearings that Mr.
Jenkins had done only what other fnanciers
ve-e doing right along. and that Mr Jenkins
zss not acting with feloniolis intent when he
MADE he 5ura1ry loans. He said that the loans
hsd r part been an Inheritance from branches
G. IT. 6ank zhich Ire trust company had
sufre6 De did not .ry 70 defend his client
sFa.-=t -he evidence produced from the books
O. the COMPANY. but satisfied himself with put
tizg on the stand z number II prominent bust
negs men and the pastor Of the Greene Avenue
Baptist Church. 70 which the Jenkins family be
louEed. % prove that the defendant was man
Of htrh morals and honor Mr.. Baldwin summed
I'D Tuesday, afternoon using four hours to make
his f-al Plea. and Mr. Elder summed up for the
pross--ltfcn ves-erday morning. Justice Kelly,
Who had charge Of the branch OF the Supreme
Court. where the case was heard, charged the
furv lust before the noon recess
The Jenkins Trust COMPANY closed its main
Office and FIVE branches on october % of last
year i TIE early DAYS Of the hank panic. On
ArriI Il il was reopened as the Lafayette Trust
Company. under q new manag cement, from
which il was announced, all Jenkins influence
ta6 been excluded The company began doing
business as formerly with the same capital as
a. f-st-S5OoGg0 It was soon found that three
branches would have 70 be closed up Deposits
Cid not come IN as fast as vas hoped
AZ srerectual attempt was made 70 increase
The capital and finally, last Monday. the man
sge-ert after z consultation on Sunday after
noon with the heads Of the other trust com
rz-les Of Brooklyn. closed the main office and
the Two remaining branches and turned the
Keys over 70 the State Banking Superintendent
Only 81 10000 was on deposit. where normally
there should have been S4J00Oo00 Under the
deferred payment plan. accepted by the deposi-
tors a. the opening Of the bank in the spring, -
Pc cent q the old deposits had been repaid 1t is
expected that the institution will be able 10 pay
10 cents on the dollar, the Bank Superin-
ten5ert has 4 year or TWO n which to settle up
rs affairs
John G Jenkins. ST, besides his sons. Fred
and Frank. vas indicted along with John G.
jenkins II The elder Mr.. jenkins died soon
sfterv-ard The father had been president Of
ihe First National Bank, and he and Fred Jen-
k-ns had been interested in the brokerage firm
with Frank and John G. jenkins, tr- II is un-
cerstood that the jenkins family has now re-
paid 70 the bank all except 100000 Of the
$50. 900 loaned. and that the remainder is Sc
cured ny q mortgage on the building IN which
the trust company had its main Office.