The evening world., 1908-03-21
Transfers Its Assets to the
Vaults of Metropolitan
Trust Company.
PAYMENTS SOON BEGIN.
The Balance Due Clearing
House to Be Settled by
Next Monday.

| with every effort TO keep the mat tel
We're early to-day transferred to the
vaults of the Metropolitan Trust Com
off the depositors. This sudden move
followed a statement which Clark Will
said to have made to a reporter yester-
day. Mr.. Williams was quoted as
saying:
The announcement OF the change in
front was made al a conference to-day
between Brayton Ives, President of the
Metropolitan Trust Company. Hugh
Kelly. President of the Oriental Bank
and S. S. Menken. counsel for the bank.
A joint statement from the two Presi-
dents was issued. in which il was said
that payments under the Metropolitan
Trust Company plan would begin soon.
Asked About Payments.
Gen. Ives was asked for a statement
just a trifie more definite
When will payments begin?" he was
asked.
Don't know" was his answer
After the conference President Hugh
Kelly was asked when payments would
begin.
We will be ready TO begin Monday,
at the oriental Bank he said. after
some hesitation.
VIII you begin then, or will II be
necessary to wait a week. a month or
year for these same accounts to be
gone over. balanced and verified" he
was asked.
Il do not know what plan will be
followed" said President Kelly. Prob
ably that will be announced Monday.
! suspect that 1t Will not take more
than ten minutes-possiblv tive-to in
vestigate each count, but there are
5000 of them. and YOU can see what
1900 times five minutes will mean. In
all likelihood we will on Monday no.
tfy certain number of depositors,
going down the alphabetical list to pos
sibly the number of 200 or 800 names.
to be present on a certain day and We
will then begin payments and con-
tinue them daily until they are com
pleted."
NIIC T0tIIhS III law
Lawyer Menken was asked II he eX-
pectcd the Attorney General TO appeal
or III some way to attempt TO block
the latest move IN the oriental Bank
matter. lie said that the books, papers
and assets of the oriental Bank were
now in the possession of the Metropoi'-
tan Trust Company. and would SO lk-r
ly remain. limiting that possession meant
nine points in the law.
The Attorney Generals offce was
quickly informed that the Oriental Bank
people had stolen march upon II. At
torney- General jackson was not at a
torney Genera! w. r. Mackay said that
he was not informed of the situation.
Here is the joint statement, issued by
Presidents Ives and Kelly:
The legal proceedings in connection
with the much discussed agreement be-
and the Oriental Bank have apparently
been ended Yesterday the assets Of the
bank were transferred 10 the Trust
Company under the direction OF Clark
Williams, Superintendent of Ranks The
agreement as approved by Mr. Justice
o German. and later bv the Appellate
Division, is the same agreement first
arranged ny the two corporations.
'ArrdnEements nave been begun for
the payment of depositors OF the bank
the accounts certified to. They will he
paid at once by the Trust Company.
The Indebtedness to the Clearing House
Association will be paid on or before
Monday
Supt Williams was asked If he con-
his Jurisdiction.
"Out," he said.