New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-03-08
HYDE'S SECRETARY GOT
$4,000 UNSECURED LOAN
personal Matter" J. V. Smith
Says, land Money Has Been Re-
paid to Carnegie Trust Co."
G. TRACY ROGERS PAYS UP
Keiran Transactions Loom Large
in Records of State Banking
Department-W. J. Oliver
Had $4,000 Loan.


John V. Smith. private secretary L
Charles n. HYDE. the City Chamberlain
was able to borrow $1,000 on demand
note without Endorsement and withou
collateral. from the Carnegie Trust Com
| pany on December q last, according t
the records Of the state Banking Depart
ment. which were examined yesterday.
These records show the state of the
books of the suspended trust company a.
the close of business on January q, 1911
but 1t was learned hat since that date
Smiths loan has been paid up. together
with the accrued interest on IL, licf
amounted to STAG The date Of the
payment was January "a. 1911.
Smiths salary as secretary TO the city
Chamberlain is $1,000 a year, An increase
of 81. 900 over that received by his pred
ecessor.
When told of tie entry found In the
records Of the Carnegie Trust Company
Mr.. Smith was at first disposed to take
advantage of technicalities, and denied
that he had made any note to the Car
negie company on December Q, 1910
Then he added:
And I owe no money to the Carnegie
company at the present time"
Then you've paid II up within the last
few days?" II was suggested.
II do not say that | say that owe nc
money to the Carnegie company now,
he replied There must be some error
in the banks accounts"
1t was explained to Mr. Smith ther
that the figures were those of the State
Banking Department, and that they rep
resented the state Of the books as OF
January 6.
Il admit this one transaction he said
but it is entirely a personal matter, ant
/ do not even care TO mention any one
else's name. Even if | had owed th'
bank $50. 900 and paid il, don't see tha
it is any ones business What's Si,r
TO reporter, anyhow
Smiths $4,000 Transaction.
Smith borrowed the $1,000 from the
Carnegie Trust Company on Decembe
! 9. 1910. The next day Mr.. Hyde left hi
desk and two days later. December l.
telephoned Smith from Philadelphia tina
he was making his way to Florida oI
! his houseboat. the Stop-awhile.
Other banks. and then the Carnegie
| in which Hyde as a deposition of city
funds might be interested closed thei
doors and Immediately Dan" Smith
brother Of the secretary to city Cham
berlain Hyde. started for Florida to tel
/ Mr. HYDE that it was time to return.
on January II. incidentally the sam'
day upon which the legislative investi
eating committees powers expired. Mr.
| HYDE returned TO New York in company
with Dan" Smith and a week from thu
next Tuesday Jack" Smiths loan o
81 900 with accrued interest of Sl4 90
was paid
! Mr.. Smith voluntarily offered the com
ment that the transaction was "entirel!
a personal natter and declared that n,
one else knew anything about his hav
| ing considered the making of such {
! loan.
on the record Of the state Banking De
partment Smiths transactions were
summed up i'm these two insignifcan
entries. the first under the heading o
Bills Purchasable" and the second un
DER Accrued Interest:
! j. V. Smith, no Endorsement, no col
lateral. on demand. $1,000"
| j. V. Smith. S1461"
| q. Tracy Rogers. who was formerly al
active special partner" in the Filing
wood & Cunningham brokerage firm
which dealt so heavily with state legis
ators, dropped into the offices Of th
state Banking Department yesterda!
and paid up his loan of $1,000. The loar
was amply protected by the collatera
security ne had put up, said Mr.. Rogers
but tho attendant publicity bothered him
so he discharged the obligation.
The numerous notes held by the Car
Inegie Trust Company and indorsed b!
either Patrick J. Keiran. OF the Fidelit!
| Funding Company. Of which Mr.. KeiraI
was the promoter. which aggregated
500. 900. did not represent all the obliga
tions Of Keran and his Fidelity Fund
! ing Company to the defunct trust com
pany. ii was learned yesterday.
! At one time the total Of these Keirar
( obligations was I'm the neighborhood o
81 400, ,OnO, but this has been gradually
reduced. until. according To con
fidential representative of Keiran yester
day. his own and the Fidelty's indebt
edness to the Carnegie. exclusive Of th'
500. 600 worth of Endorsements. did no
exceed $4,000
Manv Keiran Inducements