The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-12-28

New York, Dec. H.-Joseph G. Robin,
formerly Robinoviteh, described al pres
ent as a banker. was committed TO L
mad house on Monday between business
days, at the instance OF his friends, while
two State departments were going through
his banking and insurance performances,
and on a holiday Invoking the Offices Of
the district attorney. His bank, the
Northern, at 2l5 West l25th street, with
deposits OF S7,000000, was closed by thu
banking department before business could
open to-day. II has nine branches, which
were closed simultaneously
The insurance department set things
going against Robin through an inquiry
into the financing OF the Aetna Indemnity
Company Of Hartford by Robin, who.
the department says. treated the assets
Of lot OF companies he controlled as his
own personal property.
Sent TO the Asylum.
District Attorney Whitman was in con-
ference en- Monday night with supt Of
Banks Cheney. and William Fl. Hotchkiss.
superintendent Of insurance, over Robins
transactions, when he was Informed that
Robin had just been committed by Su-
preme Court Justice Amend 10 DR.. Carlos
F. MacDOnald's private sanatorfum az
Central Valley as an insane person. Il
was reported 10 Supt Hotchkiss that
Robin had been carrying cyanide OF
potassium about with him threatening 10
use II il criminal proceedings were begun
against him. and had attempted to jump
from a window 81 his apartments. The
case will so 10 the srand jury and Robin
viii not be the only man presented
a.
] Hotchkiss as Robins confidential man.
| Is said 10 have suffered a stroke OF apo
/ plexy on Monday II his house to-day il
was said that he vas seriously III. al
though Theodore Werner Office manager
/ or the Fidelity Development COMPANY,
owners Of the Morris Paafs-FAse track.
/ andF the Bankers Realty and Security
/ Company. two concerns in which Robin
was a heavy st0ckholder. said that Mg
Norris was expected al the Offices Of the
( TWO companies in the Times Building to-
morrow. Robins house was closed
Irregularities Are Found.
James n. Clifford. who is the attorney
/ for the Northern Bank. as well as one Of
its directors, said to-day that after the
discovery that there were Irregularities IN
Robins dealings with the bank he
and another director called on Robin
in the latter's apartments on FIJI
day night TO make demand that Robin
put up collateral for loans made by the
bank on Robins paper.
We found AiT Robin. said Mr.. Gif-
ford, suffering from kidney trouble and
| IN the greatest agony We could not get
a connected statement from him Not
having succeeded, we returned on Mon
day night Mr.. Robins mental disorder
was awful. He was suffering from a
form OF insanity that medical men call
paranoia, and I understand that after
being examined by two alienists he was
sent 10 a sanatorium. On Saturday, while
in this condition. Mr. Robin tried To XIII
himself, but his efforts were frustrated.
Il know nothing about the irregulari-
ties. 1 do not think that any of the
other directors did until they We're re-
yealCd by the examinations Of the bank
ing department and by US Strong in
terests were negotiating 10 secure con-
troll of the bank, and if the Irregularities
had not been discovered it is possible
that the purchase by these parties might
have gone through
Condition Is Set Forth.
I'VE held out hopes that conditions
plight, when, AT a meeting of the diree-
tors, we decided to call upon the State
banking department 10 step in We
adopted resolutions setting forth the
situation. A copy was turned over 10
the banking department. and II Supt.
Cheney desires to make it public lie can
With cash amounting To about 81
C0.0oo and quick assets Of about S2.010.00).
some people might 6hink it was ridicu-
lous for US TO ciose<bur doors. But we
considered that as soon as the discovery
of the irregularities became known it
would cause a run on the bank In view
OF this, the directors belized that the
interests OF all cepositors demanded thar
we ask the state banking department 10
take charge. so that all would share
alike.
''Rebin was chairman of the executive
committee of the bank ae4d as chairman
ne had great power. IL was for this
reason that the directors did not know
just what Robin had been doing.
Mr.. Clifford added that Robin. prior
To the merger Of several banks, con-
trolied the Riverside Bank. and that il
was through this ownership that Robin
ee--A-t -Aitr AlAitAHA VI l4iE AsDL ttitI II.
'The Gepositors viii receive le0 cents
on the dollar" concluded Mr. Clifford.
and the stockholders viii get a SUBJ
stantial dividend il certain collateral
can be realized upon"
Statement of kite Flying.
Supt Hotchkiss has given out a detailed
statement of Robins kite flying, which in
wolves. besides the Aetna Indemnity Com
pany. the Title and Guarantee Company
OF Rochester. and eventually the Northern
Bank, and the banking department has
given out very little indeed about the con-
dition OF the bank, pending complete
examination.
District Attorney Whitman spent most
OF the day with Supt Hotchkiss and J. A.
Broderiek, an examiner in the State bank
ing department. going over the papers
and books of the Northern Bank and sew
eral insurance compaD ies and attempting
TO get things In shape so that he can pre-
sent the case to the grand jury early next
week.
IN going over the papers the district at
torney and Mr. Hotehkiss found one note
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