The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-12-30


90 are Y explained above. q c,ue out
IN Mr Morriss testimony before Exarni-
ner Hughes 81 the Insurance rapsrtment
wat Robin got not only tao.OSo from the
Washington savings Bank on IN. e.rtifi-
cate- ~ participation IN mortgage de-
soribed rs uOa-e istent. but that on August
" last he got s2I on from the hank by
the same means. hut without bothering
tn give certificate Of participation. and
on August ~ Last took out sso. go more
al-o without troubling with certificates
In other words the s37 no and SO ono were
handed out 10 hum just because he asked
for IT, The checks were drawn to the
Title and Guarantee Company. which did
all lts bookkeeping in its check book
II drew against the savings bank checks
checks of its own TO the order OF the Rank
ers Realty and Security Company and
on the stubs noted that the other chscks
had come from the savings bank This
record was erased by Morris at Robins
direction and altered TO read that the
money had come from the Bankers Re-
atty and Security Company instead Of
the savings bank. These alterations on
the stubs were made after December ~
last Chief Examiner Hughes. eSamin-
ing Mr. Morris. asked:
Then. a. the matter now stands. Robin
has sold the Washington Savings Bank,
worthless certificates of participation 20
tho extent II 500. ON and recpiy ed S0o 600
in checks from them. and had in addition
s57,o0o in checks from them for which he
gave nothing
Mr.. Morris answered that this statement
81 the case was correct.
MIR. Hughes asked MIR. Morris u it were
not true that for all practical purposes
Joseph G. Robin il the Bankers Realty
and Security Company. The answer
was:
.Y-s. It was the vehicle through which
he did a great deal Of his business Mr..
nj Il hat hsa IN hasI1S IN
Robin had any large part Of the money
left. since he was always needing money
for his traction schemes.
Morris - SECRETARY OF the Bankers
Realty and Security Company. and Assis-
tant Postmaster Thomas +. Murphy is
vice-president. Morris said that Mr.:
Murphy TRUSTED Robin absolutely. and
had no knowledge of the transactions.
He signed all checks rs requested by
Robin
renorted in the semi-aunual statement
July I, 1910. IS IA follows:
Resources. Bonds and mortgages. sssi. =
nio: railroad bonds at par value. $50 600
Bonds OF States and municipalties-State OF
North Carolina. SIS. soo; State OF Tennessee.
si5D.0o0 Territory Of Arizona. q. 90: city
OF Rensselaer, y. Y. siI .OO0: city OF New
York. s23. 231. so city OF Iona wanda. y. Y.
s2i co.: city OF Omaha. Seb.. $1,000; town OF
I-lip y. Y. $4,000. town OF Thomson, y.
Y $1,000: village OF Lake Placid, v, Y,
sIi $50 school districts. New York state
jamestown. $1,000: Islip. $4,000: Ramapo.
$4,000: Rotterdam. 81. 90: Newcomb. 81 900.
III rr,.tstown, $1,000. cash on hand and
IN banks and trust companies. si34 500 Is
interest accrued on investments. si$.Osi. II.
Total. 81. Az. 5St55.
Iiabilu -. Du. depo-itors. principal.
81, iss. Tsi.sO: due depo-itors. interest for
l.. -. lp1 & s.sh hnl taa.
si:5.ea: surpIus on par values. G7.:o: d.
Total. 81. az .5Ji 81.
The officers and trustees AZ the time
this statement was ISSUED were Joseph
O. Robin. president: James I. Wood. vice
president: William p loungs, vice-pre
dent. Patrick =. Treacy. treasurer: Lyman
A. Cheney. secretary. and Thomas y.
Murphy. chairman Of hnance committee.
Trustees John J. Clancy. DR.. Lyman 4.
Cheney. DIR n. 4. James. Charles X.
L.xow William v IOmax. Thomas r
Murphy. William II Mills. Joseph q.
Robin. Patrick = Treacy. James +. Wood
and William = Noungs.
The Bank ing Department had no state
m..nt to make yesterday concerning the
CONDITION Of rhe Northern bank. but II
was said that the cash deposits in eight
OF the branches had been removed 10 other
banks where they would earn per cent
for the depostors wsiile the hank aFairs
are being s'raightsned out.
The affairs OF the .Etna Indemnity
Company OF Hartford ar. still under
inv estigation by the Insurance. d.payt-
m-ut- Of New York and Connecticut. IL
was reported Yesterday that the con
Germ Was to he. purchased 10y interests
having tn. approval Of State Insurance
Commissioner Macdonald OF the conn,.c-
ticut d-pa rtn.nt. and II was later under
stood that the deal had fallen through.
CITY HAS 81 ,VO IN CiyostD BASk.
II turned out Yesterday that not all
Of the city - $3.50. 2is depo-if IN tbs. North
-rn Rank - covered bv the National
Surety COMPANY bond. The bond -
for siJOUD. so that the city has So 90
tied M with the money 81 other depositor-.
The city'- deposits on Friday amounted
TO $50, 90 and on that day Acting Cham
b.rlain Walsh Withdrew $1,000. bringing
TIN. amount well within tn. bond. II
Appears however. that on Saturday tax
receipts amounting ~ Ssc. 2~ were de
posted by tins. Receiver Of Taxes in Tn.
Bronx. A. usual. the statement of these
deposits did not reach the Chamberlain
Office until this. next business day, which
was Tuesday. too late tn withdraw any
money.
At times the city'- deposits in. the bank
hav.. exceeded "A million. That WAS when
taxes are coming in. Ii was explained
that tn. bond was for the average amount
kept on deposit.