New-York tribune., 1909-03-04
TWO BANKERS GUILTY
RRJTTON and SCHROEDER
FACE PRISON TERMS.
First Conciction in Brooklyn Bank
Coses-EagIe's officers To Be
Sentenced on Monday,

co,o,aI Edward Z. Britton and Quarantine
r,onr7issioner Frederick H Schroeder. who held.
-ssnectiveIy the Offices of president and second
,.ioe-rresidant Of the Eagle Savings and Loan
,-on,nsny Of Brooklyn. were found guilty yes
.erday afternoon Of grand larceny, first degree.
in stealing $4,000 of the banks funds, by a
;urv IN Supreme Court, Brooklyn
The maximum penalty is ten years in1prison-
-nent Justice Jaycox denied motions to set
aside the verdict and 10 continue the bail of
$4,000 for each. remanding the prisoners to
she RAYMOND street Jail until Monday. when
sentence will be passed.
Flf.y minutes were required by the jury TO
reach a verdict When it was announced by the
.o-smsn, friends Of Colonel Britton and Mr..
sohroeder surrounded them and offered en-
coursrerent and sympathy. Ths defendants
who had sat unmoved through the remarkably
h-,.f trial thanked their friends with smiles
srd walked of 20 fail without exhibiting the
least emotion
h,nkers arrested after the failures of half
dozen Brooklyn institutions during the panic
NJ 1901. John G. Jenkins. president OF the
Jenkins Trust Company. which closed its doors
IN 1907, was acquitted OF grand larcany two
months ago, and the jury disagreed in the case
of william Cow, whose operations were alleged
n have wrecked tha Borough Bank. Of which
he was director and the chief stockholder-
Assistant District Attorney Elder in prosecut-
ing Bl4ttoa and Schroeder. showed that they
had sakeu $4,000 from the company to sup
port their Houestake Extension Gold Mine in
Dakota. giving worthless checks. which were
carried as cash. Ex-senator Thomas Whitlock.
who represented Britton and Schroeder. ad-
nitted the charges. but argued that his clients
intended to restore the money. and that. there
fcre the necessary felonious intent could not
be EhoEn-
Mr. Whftlock Will decide after sentence has
bsan pasesd whether he HtI apply for certifi-
cate Of reasonable doubt or begin proceedings
for an appeal.
Testimony es 70 the good character Of the
defendants, which practically made up the de-
fenos, was given ct the opening Of court yes
tertay by General Horatio c. King. Postmaster
Roberts. Richard E Jackson. clerk Of the Su-
prerne Court; Morris Cehans Of No. 667 Will
oughby svenue; James ". Henderson, OF No.
III Lewis avenue: Jacob Bancke. OF No. 80
Niloughby avenus; Hamilton w. Salmon OF
No. 1154 Dean street. and James Doody, Of No. !
625 Greene avenue.
Clark Williams. State Superintendent OF
Banking. identified paper purporting to be |
an agreement between Colonel Britton and Mr. |
Schroeder and the bank 70 sell their stock and /
reimburse the bank Justice Jeycox refused TO |
sdmit It as evidence
Let ne ask this question" said Mr.. Elder in |
tne argument over its admission. Have your |
eAen's returned a dollar OF the money they |
took?a
we haven't lodged any questions YET re-
pileo' III. Nhitlock- $50 we'll say that they
A1Fea l but they have endaavored 70 return it.
ana We want TO show that fact"
91h "hitiock. IN summing I'D. said the checks
Ii9o 10 tne hank as cash were simply mem
' oeots- This was irregular" he
SAID, but 1t was not grand lsrosnz-it v,as ,ot
stealing"