The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-12-28

that medical men call pSranoia and l
understand that after bein, .. mined by
two eminent ali-nists he was sent to
sanitarium.
-On saturday while IN this condition
Mr.. Robin tried 20 XIII himself but
his efforts wsr. frustrated hy a watchful
nurse.
Il knew nothing about the irregularities
discovered do not think that any
of the other directors did until they were
rcvr-.-d by IN" examinations OF IN.
Banking Department and by our own
investigators. Strong interests were
negotiating To secure control OF thu bank
and but for these irregularities II IL posi-
bile thar the purchase might have gone
through We held To our hope that con
ditions would right themselves until
Monday night. when AT meeting Of di-
rectors that lasted for hours Wa decided
10 call upon IN. stat" Banking Depart
ment Ia step IN. ". adopted resolu-
tons setting forth the situation. A copy
was turned over To- tn. Banking Depart
ment and II Supt Cheney desires TO
make IT public he can. Al any rate we
do not care tn do 50. We do not want
TO do anything a, this tim. that nigh,
embarrass III" public officers who are
interested.
....ora - ~
fhhpi'is THAT nhfosiIoR WILL "hi
THEIR MONEY.
with cash amounting Ia a bout s. mo- mo
and quick assets of about 81. 900. 900. some
people might think II was ridiculous for
US 20 close our doors in thus way. But We
considered that as soon az the discovery
OF the irregularities became known ~
would certainly cause run on the bank.
In view Of this fact the di raCtor~ b.li,.V ed
that the interests OF all depo-itors de
manded that We ask the Stat. Banking
Department To take charge, 50 that all
would share alike. During the last few
large sums Of money To strengthen the
bank condition. and IN some instances
sums Of over $4,000 were deposited.
Robin aS chairman OF the executive
committee OF the bank 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 tn
the merger Of several banks controlled
the Riverside Bank and that IL was through
this ownership that Robin cam. into con
troll OF the Northern.
According To Mr., Clifford n considerable
amount OF undesirable paper belonging
TO Robin came into possession Of the
merged banks from tn" Riverside Bank.
hut this paper did not iiglIr. in the ir
regulariti,,s discovered by the investl-
gators.
The depo-itors will receive iOo cents
on the dollar concluded Mr.. Clifford.
land the stockholders will get a substan-
tial dividend II certain collateral can bs
realized upon.
rSDIcrMESra YoR MORE THAN oSr
G.. t,.LIi - -.
..np' i"..Ss iIS st.rh VuI o.
Rat,;, -, ST., Pnhioh i,,,I,.'S
., IT. -, I,.;, Va C,
.m- v;,ia a., G,,n.,,,..
pn,,,,a- ,'i a,na,''aI,,. ,n ~
3D. 81 t -! uu'f nv ~
,,,...., .,, -. M,,t 49,. , no. To-
ssnrS;,;or ~ *. hanL ,,.,,d;n', -,
-. n, a,,,;,a 60,
fp;s,.;., .,,N,.,..., y.,,;,,,,,,, 800, ,.,
.,, nO ,,.,,I S,a, an -n.nu ~,
prodnr,ct IN a.am,ina. ~ ~ -,
pdt an .no ,i III 'he Hate
,,a,ar. - ,iooL. - H.. Nar,h,,,, NJ
Ia ,,.I ',''r,, W, ,,,',,n,,;' an
s,,l,,,,,,,, ~, -, -, o''i = III.
j.. con- ,,r.s,.,r, IL., 80 ., ~ G,rd i'r,.
-. -, 'i IL IN -. , a' -
% a.. - ~ W ,t
be - Sane ne No,
L. - - ,b., ,,,-, ,..,.,,,,.
,hn D.,., ,,, nipNs fI.'htIs
s,-J 49,, -, e.. .-n O., -, -. -
sidered WORTHLESS In il understood that
several officers in the institutions under
examination are implicated and that
the District Attorney will take action
against them a. soon as he IL ia posses
sion NJ the necessary facts Mr. Whit
man thought thar he would he ready
70 re>eht ms case 70 the trand Jury
III i,'i III " - "s IL VI " III 'uit
Iii ~ hs,nr, e. m y, -. anu tue ''He
Wre uc,rht,ss ,n,.nd'J :, M, ., n;.
,rict Attorney Whitman Las, Friday
with IN. ,estinopv ~ Rob;n'. assnciafas
taken IN th,, Iny.-tigation Of ,ha Ftna
and III. Title and Guarantee companies.