New-York tribune., 1910-03-31
H0TCHKISS HITS0UT
DEM-dNDS DATA FROM
MANY COMPANIES.
Digging Tnto Buckley Loans
Brings Out History Of Trast
Company Legislation.

ON parry i-cSfN0to".
AnN' nopes that the five usurAnC" inter
ests may hs,e had that tho present in-
vestiEstiou was to he ~ perfrnctolN
nature were u,delv dispellei yesterday,
when William H. Hotchkiss. Supeliut'n-
dent 81 Insurance, sent out forty notices
addressed 20 that number ~ presidents 81
American companies and American man
sE"rs Of foreign concerns. demanding in a
courteous way that they deliver 20 m" de
partmenI any data. book records, cheeks
81 letters thst would help 20 throw light
OF the activities and compensation 81 amy
of the Legislative agents who had assisted
them iu Albany matters in thu last ten
Hears
u was intimated 10 Tic various rcclpi-
cnis or the supeYiutendents notice that
prompt production ~ any such records
Mould he much better Tor them than To
wait for subpanHs, and the demand was
made TO include also companies Of Other
states that had been interested IN Albany
legislation during the period mentioned
A preliminary notice ~ the same nature
was sent a few DAYS ago 10 the Travellers
Insurance Company 80 Hartford. Conn,
one result - which was The prompt pro-
auction Of the checks and data connected
with tho disbursements by that company
10 William H. Buckley in 1904 which Az
gresated S2l.sOo
al vas understood yesterday that Justice
fcWara T. Mccall OF the supreme court
whose name was brought into the invest
Gariou because ~ his connection With thS
loans from ;he PheniN Insurance Company
- lliam ~. Buckley, was going To send
~tetemen' of some llind 10 M Hoichkiss
(which would explain away the doubts
slsed ~ su investigation of the books of
ue PheuiN as 20 whether ;ae loans appar-
.-1tly mace 60 Buckley were not IN efeCt
loans 10 Mr.. Mccall At the Insurance De
pE-tmOut offices. however. IL Nas said that
DO such statement had been received.
Move on Buckley Loans.
an the meantime tnc department. exam
iners, IN tracing up the records on th"s"
loans. discovered that the international
Ranking and Trust Company. TOO shares OF
The stock ~ which concern Buckley put up
o. collateral FOR his first loan of SlSu0 from
the PhcniN on February l6. 1897, was the
successor If the American Bond and Mort
EaGe Guarantee Company, which came into
helms through special act of Incorporation
giving II power To go into almost any kind
~ business its officers might choose.
tna, Tho act of incorporation Tor the orig
nal American BOND and Mortgage Guaran-
ico Company. which became law i'm Man,
lSqa was put through the Legislature at
"a dizzv pace.
After its Introduction in The Senate hy
Senator l. T. Goodsol il went into The
Committee on Rules. where H remained a
single day. was reported out faVorahly and
advanced hv quick stages through second
and third readings. Meanwhile in the As
sembly its progress was equally rapid, and
a. Was finally enacted on May 9. 1873.
Thcreaftcr. on July 81. 1899 tho name
was changed 60 the International Banking
and Trust Company. aud on April :, lH"h
to the North American Trust Company
vlich was later absorbed 10y III" pr"s""'
Trus, COMPANY ~ America in merger
which also embraced The CITY Trust Com
pany and the Colonial Trust Company
Some Trust Company Powers.
rnc original charter 81 tbo American
Bond and Mortgage Guarantee Comuauy
after granting 10 thar concern all The or
dmary powers n modern trust COMPANY
won't ON 10 specify these TWO additional
uowcrs:
To guarantee tse legality. payment and
3cufomsnCe ot obligations and contracts
sn1 tiUos 20 property. real or personal
e" hI}. sol. pi"ac' 'AchanEe, hold IN
fIuS'- 1r 0therNN iSe, ur receive ON dep0sif nr
storage. as principal or interest, an kinds
- prop'~tF. roal. personal or r:Ned. and q,
advance a. principal or agent. monols $50
'gritlos and credit upo. ihe same.
"puc eould conduct almos, anything from
storage warehouse 10 pavnship or
-Eosc tv-o causes was rhe comment i1
tho department
According o. the books u thn original
company. thrNe payments for legal service.
were made 90 Edward T.. Mccall ia con
reciion with the companv's Incorporation
Two separate payments We're recorded oi
Ma H. 1898. the FIRST - See.o and the
sscond - $3.50. and IN June ~ az the sam,
wear there Was another payment % Mr.
M'Caa of sS."j0. making a totsl Of Sl5."Da
Goodsell Got Shares.
IN The stock book Of the original concern
rNa American Rond and Mortgare Guar
+ntee Company the examiners found d
record that 100 shares went 10 Edward T.
Mccall 100 shares to William n Buckley
and 100 shares TO Senator l.. T. GoodsclI
The pa~ vnlue of each share was $50, and
tho books show that cash Wa received foI
every share sold
The inoorporators named were ensign o
Fealc, Daniel =. Lynch, john Farrell Will
lam {. Waddy and Jchn n NcCrahou one
~ these men. an least was a Young lawyer
IN the office ~ Edward +. Mccall at the
frrne - Incorporation. and {; Is understood
hy the invest gators That they we're prob
shly al dummy ircorporators
The shares which went to Mccall Buck.
fet and Goodsen were originally issued g
Stewart Brown according 90 the stock
n
cate numbers changed. the, appear in The
rccords ss tho holdings a. the three men
raW,C
Senator's Memory Fails.
EN senator Louis . Guud~cI was aykeS