New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-16
CARNEGIE TRUST DIVIDEND
Depositors Cited to Court Object
in Gases to It's Payment.

About two hundred men and women de-
positors 81 the Carnegie Trust Company
and IF the Washington savings Bank.
many Of them represented by lawyers.
were I'm the Supreme Court yesterday in
answer 10 a notification that orion ii.
Cheney, Superintendent Of the State Bank
ing Department. would ask permission 10
declare dividends for the depositors or
% per cent from the Carnegie and so per
cent from the Washington. one of the
Robin institutions. The notification was
that an order TO show cause had been OBJ
tained why he should not grant the divi-
dends. And. strange a. It may seem, some
Of the depositors did try TO show cause
why the money should not be paid from
the funds Of the closed bank and trust
company.
one If the women depositors Of the
Washington Savings Bank wanted a guar
antee that she would receive the other 90
per cent Of her deposit. Justice Giegerich
pointed o1t that such thing was impos-
sible. and on his advice she withdrew her
objection TO taking what she could get AZ
this time Some Of the depostors ex-
pected 10 receive their money At once IN
the courtroom.
Although the amount Of money involved
in the distribution Of the Washington i
not nearly as much as in the case OF the
Carnegie. the motion in connection with
the former gave the court the more
trouble because Of the larger number OF
small depositors. Those who were there
to talk for themselves and not through
counsel wanted 70 talk az the same time.
causing confusion.
Justice Giegerich asked whether there
was any one present who wanted 10 OPP
pose the paying OF the dividend. The afore-
mentioned woman got the floor first and
the Justice explained the situation. but ap.
parentlv not 10 her satisfaction. He said
she would not relinouish any rights I'm the
remainder Of her money on deposit by sc-
cepting the preliminary dividend. but she
did not like the appearance Of the bank.
Your honor" she continued. Robin is
living in luxury
Robin is a prisoner in the Tombs." re-
piled Justice Giegerich.
We'll (, is very hard" sobbed the OBJ
jecting woman.
Justice Giegerich later IN the DAY signed
the order permitting the superintendent 10
make the distribution on the - per cent
basis. In the case OF the Carnegie Trust
Company dividend decision will be rem
dered later in the week
william Travers Jerome pho for a time
acted as counsel for Joseph G. Robin, was
ordered yesterday by Judge Hough Of the
United States District Court. 10 surrender
10 the receiver In bankruptcy FOR Robin Sc
ouTities Of face value Of 5000 which he
obtained from the indicted banker
The order also directed Anthony stumpf.
a director Of the Northern Bank. 10 turn
over twenty-five bonds Of the South Shore
Traction Company. ~ q par value ~ $500
each
The securities held by Jerome were oh
taineS by him. according IN his testimony
In one of the bankruptcy hearings. at the
time Robin was indicted Jerome said he
went 30 Robins nf1ce and removed IN HE
own safe sli securities and papers Of value
he found there re aided tina, he was
ready 10 turn over these securities 10 the
receiver a. any time