New-York tribune., 1911-03-25
HOPE FOR CITY DEPOSITS
Continued from first page.

him. notified the President of The Bronx
and ] notified the commissioner OF a,ei
supply, Gas and Electricity, who collected
the water rents
He now spurns his own child There
ould he 10 discussion as ~ rho was re
spons,ble for the SELECTION Of this rank mac
y not been for the Underhanded ana con
tempthlo conduct ~ tho Controller IN AZ
tempting 10 evais his own act, which vas
no doubt honest az tho time His con1uc'
nov ~ only further evidence ~ his deceit
80 which 7 referred In my letter or Janusl'
Il 20 the Mayor There VIII be no loss ~
tho ritv on account 81 the deposits IN fhf
Northern Bank. SO that the discussion no"
Is purely academic.
The controller and his suhordinst" naN'
recommended other banks To me. IN NhlcIl
7 have madA city deposits | see some ol
them mentioned among those Who gre tal1
70 have made loans to Nr. Cumnlins ana
hs associates 7 have not discussed ms
phase 81 the ouestion. necausd nS -, osir eiyon
10 such unsound practices as the making
Of loans for ths purpose OF obtaining %"
pcsrs. If hnd ether 10 be the case
Shall have no hesitation in mediafeiy
"ithdraving the city money from any pank
which has ever done such q thing
MAY | suggest. however. that IN my
opinion contractors and others d2lne pusi !,
ness with tho city are more concerned
q bout the delay i'm auditing JUST ciain,S
Ihov believe tnat reorganization OF
pubic office should go further tnan me
purchase OF me rugs anu lNi uil'lN h'' ~
wholesale discharge OF experienced EN-.
Move. 10 10 replaced by cronies Of the
Controller for political or other reasons.
The statement Of tho city Chamber
lain is inane and childish" said Con-
,roller Prendergast when he Jaw II. 1T
Is true that I selected the Northern
Bank as depository, and II Is equally
true that I have made that statement
for the newrpape since. II is not true
|, that | told the City Chamberlain that the
Northern Bank was conducted Conserva-
lively. That is a bit of imagination on
hi. part.
However. later drew my personal
account from the Northern Bank, having
good and sufficient ! asons for 90 doing
7 Immediately notified the Chamberlain
that It was inadvisa Bile to longer regard
the Northern Bank as .afe depository
for city money. l ad reasons for SO
saying, and il was not necessary for me
To state those reasons TO the Chamber
lain. They came to me conhdentially.
1T was then and for tho first time
In t the Chamberlain demanded or re-
auired a bond from the Northern Bank;
but that bond has never been paid
II have been accused OF exercising bad
taste i'm the selection OF rugs. 1t was
better taste than that shown by the City
Chamberlai In the selection OF banks" "
The question whether the names of fic-
titious or dead men had appeared on
notes held by the Carnegie Trust Com
pany was not settled by the grand jury
yesterday, it was learned. They didn't
consider the subject. AT the State Bank
ing Department il was said that all
names on paper held by the bank when
it failed had been verified,
VI. W. Hutchns, chief examiner of the
State Banking Department. called at the
District Attorneys Office i'm the after
noon and had conference with Joseph
a. Broderick the Banking Departments
Investigator, who has been testifyng be-
fore the grand jury. The report spread
that Mr. Hutchins had asked to testify
in behalf of the department, but this was
ocIleu. Al tne i)IStTict Attorney OIIice
II was said that his testimony might
properly be deferred TO another tine. He
will probably be called later on.
The recent request Of the District At
torney that the Appellate Division assign
Justice Davis to the Criminal Branch of
the Supreme Court for another month
has been granted. This probably means
that the present grand jury. which JUS
tice Davis swore in. will be continued
for another month for the purposes Of
the Carnegie Trust investigation. IT ad-
iourncd yesterday until Monday.