Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1910-07-14
CONTROLLER TRIES.
TO BALK SCHEME
professional Promoters Buying
Up Chain Of Country Banks
as Morse Did in City.

Now York. July ia report was
!crt to Lawrence q. Murray, controi-
Ter of the currency. last night on
scheme Of several we'll known men 20
bring the deposits Of n chain OF out
nf-town hanks TO this city and use the
money in the speculative schemes OF
the promoters of the enterprise.
controller Murray is going to find
n way- to lalI the plan If he can. and
If he can't he is going to keep n sharp
watch for the FIRST hint of a criminal
,tep and nail the men who arc back of
The scheme
According 70 tho report made to the
controller the mon who are behind
,nis rlan are Wcstchester county
lawyer, who already has been engaged
In two shady note transactions; n well
known architect, the son-in-law OF
man who died leaving something like
- 100000 to be divided between his
,vco daughters. and the officers of
construction company that is putting
II, two Of the largest buildings in the
city.
They have already acquired a West
chester bank to start their chain. and
rortro1lor Murray got his Hrst hint of
,to .c,cn,o through the discovery of
49, to,,, oxo,ri,ers of some irregular
800. ,,,1o ,, +,vo hanks IN this city
..o y,cc-, os t,o Westminster insti-
tuition.
TIE OLD MORSE PLAN.
1.,a MAN T. Inv no means a new one. 1t
T. 1.-Two so,,e mat was worked by Charles
" Niorso with such startling results
o.. ,noro Inns been nothing criminal In
.r oror,+,o,s of the present promoters
g, Cav IN ,o tbis time they have beer
,-,..,t,, only NJ had banking methods. and
ro,+ronor Murray intends to stop then
So, .bo,. cor GO further
1,,o. schc,,o ,ho men have been WORKING
ou, &c ,o oco,,,re chain of countr,
5000 ,,,.i,,,, .ba fret and having fo
a., saoa,,d ,,.i,b NANCY, borrowed from
49,, o... $780,, oo,.i,,,,r-, tris onorotio,
49,. ,,7,ro ,,oni,s nav,
,a ,,,,1a .,,,tr c,r,.ol Tne, thov vii
be able to borrow money from thes
'''N.' a','' 49, ,s t., ,,,t. oi,,. 70
.r, .,,..., ,,,a,, ,,u ,,t,,,. th, 40
-. 49,. ,.,., ,,,,,. i.A ,,,.i,u
49,, +, .,,,. .,.,. 49,, ,.,,,,. ,,,,,,o ,,o,
,,, -, ,ho ,,,o,,,, ,rau,,,, ,or, fro,
~, ,.r
.,,,, o.,,,,,, .o,,,,o, &c s,o,
,,,.. ....., ,,...,.,,,
80 ., .oo on, 49,, $500 t., ,,.l,,
,.',,.... T., -. A., 1,,,
&C.,, ,,,a,
r,,,,s,.,., ..o,,,t,au ,,.o,,,, co,,or
....,e ,.,.,, -, =,
49,, t, T., ,,,., 49,, ,,,o,, ., .h, oho,
-, ,,i, -. .r s.,,o .i,,a
-, 49,. ... =, ,i,,., ,, ,,,
a,,t,,,... ,,.i,, ,.,.,, sh,r> r,to, 90 g,
,,. t.. 49,, ,;,, , 20 not,
,,, J., ,,,,;, =. ,,,,.,.,t. ,,o,oo,,,;o,
,,n va s.ortan -, ohoroa -, c,,m;r
1a,,sn,roo, r,,,is :, n,,,, ono of tho s,e,
+ra,,tios tbot night result IN Grimm
,,ros,c,,,,ors hv, IN yie,y ne tho bisb
.rocu,o,ive erternr,ses which u is ,nde
stood tho nro,noters Of the scheme inte,
g., nm, tba r,orov n, tho country, han
,rto q ia ,houyht nv the hank examine
chat II is NOT unlikely 10 honnen
STOP PROFESSIONAL PROMOTION
AZ tho Same time he is lookirf, into ~
rarticu,ar scheme Controller Murray
s.o14re, q ,na,ns to .to,, Tho ,rofess,or
,romotion of national hanks This &c
evil that has grown to large DropOrtiO
4, recent wears ana lends IN i,st gu
.c,a,res nc that NOV. ,,rorosed IN THE ri,
There is a middle western cornor,ti
oreanized for the nronotlon NJ notio,
,,rl,e o,1 +ho, ,,olde ,ba oortro, 20 ,
,u..e, IN and 60 email harks IN the mid,
Nvast u,,,s &c only ono ,rstoroa 90 -,
H. r.h,o- tho cortro, ~ n ob,,r y, y, -
4, bo,d w, ono cornoratio, mr. ,rou,
an