New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-09-12
$4,000 NOTE WORTHLESS
Regulated Paper Revealed at
Union Bank investigation.
FORGERY Is ALSO CHARGED
Law Clerk for D. A. Sullivan De-
MES He Signed Certain Checks
That Are Put in Evidence.

That Are Put in Evidence.
The large assortment of unexplained
transactions that has developed in the rec
ord of the Union Bank investigation was
materially augmented yesterday whom the
hearing was resumed before Edward l..
Dodge Deputy Superintendent OF Banks.
in the Kings County Courthouse. Brooklyn.
James &. Cropsey. who conducted the eX-
animation OF witnesses brought to light an
alleged worthless note for &0,S15, which the
Union Bank carried as an asset up To the
time il closed It's doors for the last time.
Numerous checks and notes. TO the value OF
nearly Slo0,Oco drawn on the Atlantic
branch Of the Mechanics and Traders
Bank. In 1915. in the name of Francis {.
Brown. law clerk in the ONCE
Of David A. Sullivan prior to the time when
AR Sullivan went into the banking busi-
ness. were repudiated by Brown on the
witness stand. RE intimated that his name
had been forged TO some of the papers.
The note for So SO was apparently made
10y The Remscn Bond and Mortgage Com
paDv 10 the Union Bank in December. 1907.
Louis Stecher now president OF the KEN
sen company. testified that this note was
tors OF the company. and was repudiated
az "a meeting Of the board IN October l"S'
as soon as the directors learned that such a
note existed in the Union Bank inc VII
ness forwarded "a resolution adopted by the
directors al that time 10 the Union BANK
the Union Bank Gisciiming any EaoiltE
on the note. he said. The company had
not received a cent Of valuation ior 'he
note The signature Of Henry i. hlli'
president of the Remsen company al that
tine. appeared or the note Mr.. Stecher
who was then a director Of the hemSeh
company. and Dennis W. Hylan, anothsT
director. who was a witness YESTERDAY dlo
not know how. this large note got into the
Union Bank. No record of II ever appeared
on the company's books, they said.
Declares Details are "Hazy'
Air Cropsey CROPPED in the dark in re-
gard 10 this transaction until he got Will
lam g.. Dau,ron on the witness stand. Dam
ION was a former president of the Remsen
COMPANY. a former president Of the Home
Bank Of Brooklyn. a former director of the
Union Bank. and a longtime associate Of
David A. Sullivan I'm business. lie proved
10 ~ a sarcastic and stubborn witness, but
finally offered a SOFT Of explanation Of the
S0cpo note. though he declared the details
were 'hazy' in his memory.
Nj Damron al first said that he had no
recollection Of the $4,000 note during his
regime as president of the Remsen COM
psnv. He had no absolute recollection, he
said that Mr.. Hill was ever president OF
The company. Mr. Cropsey showed the
IL fso,.iga1 " K4iif's
signature on the note and admitted that
NJ Hill must have been president at that
time.
In whose writing is the body OF me
note?" asked Mr.. Cropsey.
1T looks very much like mine said the
witness. smiling sheepishly, but have no
definite recollection OF filling II in
"Perbaps IL will refresh your memory II
you notice that it was hlled in on blank
note Of the Home Bank. the name Mechan-
ics and Traders Bank having been writ
ten over that Of Home Bank Mr.. Cropsey
suggested
Then Some Of the details Of the transac-
ton began 70 come back 10 the witness.
lie remembered that he had made out the
note after getting Nj Hilis consent 10
sign it purely as an accommodation 10
Nj. SULLIVAN. ne NdH Sif1N ~
date Nj Sullivan In that way. because Mr..
Sullivan's hank had accommodated him
with loans. ne said Mr.. sullivan had eX-
planned 70 him. the witness testified. that
The bank had some assets which would not
rass muster by the State Banking Depart
ment. and some more collateral would be
desirable. Damron understood. ne said.
that the bank was not 20 receive any
money benefit from the note. He had put
,p PCS shares Of Remsen Realty Company
stock. which he personally owned as Sc
curity on the note, the witness said.