The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-01-08

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company exceeding 100000. Settle.
mrnt Of these soon Afterwards wa:
2 forced. according to statements OF wei
Informed persons to-day W. l.. Samp-
son. loan clerk. added the positive as
sertion that Robin now has no lour
with the Carncgic, nor has he had
since his Official connection with the
institution was severed.
In this connection It Is recalled tina,
the Investigation of the Aetna 1nsur-
nnce Company, n Robin concern, by
the state Insurance Department. early
In December, revealed the fact that
Robin had negotiated a characteristic
transaction with the Carnegie Trust,
involving $4,000. To cover up this
amount, which he had taken from the
Aetna's funds Robin got $4,000 from
his Northern bank. giving the bank
draft for that amount on the Car
nesic Trust Company. where he had
no funds. At that time Robin was Ill
at home. He tclephoncd the Carnegie
Trust telling OF the draft lie had made.
ana saying that 10 make this good
lie was sending 10 the bank draft
on the Atlantic National Bank, of
Providence. 4. l.. where he had a large
amount on deposit. 1t turned out that
Robin had no funds ut the Providcnce
Bank. and tic was required ;mmcdi-
atcly 10 cover his loan with the Car
ncgie Trust by dcpositing securities
several times the amount OF the S43,-
600. it was stated by Carnegie OIL
Gals.
The Comrnny uncInis.
The following corrected list OF Off
ell; Vice President Robert l.. Smith;
in the Gay President. Joseph Y. How
ell Vice President, Il ebert l.. smith:
Sccretary. IL. Is. Moorehead Assist
ant Secretary, y l.. chandler Assist
ant Treasurer, W l. Sampson; Dircc-
tors-Joscph T. Howell, George L.
Smith, David Homer Bates, c. NJ
Courts, John Cudahy. Charles \,
Moore. Jr, Bernard T, 'oNcill Joseph
smith. \ B. Chandler. William \.
I<ecner. Martin ]. Condor. George Is
- ahbcs and : II. kresS.
Not scin;lla OF Information was
obtainable from the State Banking De
partment on any phase OF the imsti-
iuton's condition of immediate impor-
lance. superintendent Cheney refused
either TO SCI reporters or answer
questions sent TO him by clerks.
Leslie Shaw President
The organization Of the Carnegie
Trust Company in 1897 by the late
Charles c Dickinson brings out some
interesting modern financial history.
Mr.. Dickinson interested a number OF
prominent financicrs In the company,
and Leslie NJ. Shaw, former Secretary
Of the Treasury who had a large bank
ing following in the Nest. was made
president Through Mr. Saaw's con
nection the business % the company
became large
The name of Mr.. Carnegie was used
By the organization IT. order TO lend
strength TO the undertaking, but Mr..
carnegie, shortly after the formation
OF the company, repuniateu the use OF
ms name in connection with the COM
pany.
Mr.. Dickinson. the organizer. who
was formerly IA State Iunk examiner.
became vice president OF the company.
and sought TO dictate to Il large de-
gree TO the management of tho COM
pany. After about yea Mr. shaw
resigned and Mr.. Dickinson became
president. Troubles OF the Carnegie
trust Company developed when MIR
Dickinson attempted TO orm II chain of
banks with the Carnegie Trust as n
parent institution. Control of the Van
Norden Trust Company. the Nineteenth
Ward Bank and Twelfth Ward Bank
was sought, and n syndicate had Sc
cured control OF the Van Norden Com
pany and was heavily purchasing Sc
curities of the other banks
Got Into Trouble.
II is understood that year ago the
institution was In more or less trouble
growing out OF the fact that one of lis
cnlef officers. in connection with n VOL,
Known banker OF Wall street had ef-
iected very large loan from the Car
ncEle trust Company TO enable him TO
puH out and consolidate with IL another
institution hut this falling through
ieit the CarncEio institution with a
large amount of funds ockcd up.
me Carnegie occupies handsome
Et ltp.
tne financial district News OF me
susptnsion spread rapidly. and hun
drecs OF depositors had assembled
@pout inc doors even before the usual
hour OF openins The following no
uce was pinned on the doors OF the
company:
Pursuant TO the provisions OF see.
ton 10 Of the banking laws az tho
state of New York as amended. | havo
inns day taken possession Of the Car
negie Trust Company
20. II. CHENEY.
superintendent Of Banking
This notice .was.posttd shortly hcCorc
10 y. NJ, which is the usual honr Snr
The opening of the bank The state
oiheiais had made their plans earlier
IN the day, and IL was evident ma
1heir action had been anticipated. as a
lhrong mad already begun to ,.a,her
ne doors OF the institution remained
,oScu' ana no information concerning
the condition OF affairs was given out
by the bank officials or state au,hori-
Ties.
NOT Unexpected.
The suspension OF the COMPANY was
not unexpected In the financial dis,ric,
ana though the rinning of the notice
OF c4oSlng on the doors quickly brought
crowd Of -depositors and others hay.
.mE onS,heas win The Institution. they