New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-07-14
{ TELL Of UNION BANK
.bprt Elliott and W. c. Damron
'Ds served with Subpenas.
uoIIIRY STARTS MONDAY
80 witnesses To Be Called
''r nrsrartment Ready for
= Thorough Probe.

''r nnsnartment Ready for
Thorough Probe.
..,,anss were served yesterday on Gil
s'. a~,,,, OF No. "A Court street. Brook
ut ~ w c. Damron. Of No. 2s1 Mon
70 az .,-set. brooklyn. 10 appear before
sF'' ..rdeut Van Tuyl, OF tho state
ps,nG department on Monday and tell
s'N. 20 know about the affairs OF the
sa'' T lion Bank Of Brooklyn. Damron,
t's'O director OF the bank when II
80 I'm as the Mechanics and Traders
~ I'D David A. Sullivan. was presi-
sa~ las unpaid notes in the bank TO the
40 =, $40 $50. dating back TO septem-
:. 1905. He Is also an indorser ON
., r,ayld 4. sullivan amounting 10
r. .gs.r, Elliott who is lawyer and real
nan Of Brooklyn. was concerned IN
'''' 80, & Moore Company. the Essex
company and the Camden Construc-
" c.,,,anv. all Of which were known as
~ -. corpanies and were. Il IS said, In
80 connected with the bank under
Sullivan regime.
.,ss have been issued for David A.
~.s, and James T. Ashley. Ashley was
.-.s,dsnt Of the bank under Sullivan,
hen # was reorganized as the Union
~ and Edward NJ. Grout became its
~Ls.,t Ashley was made cashier. He
,.,sined as one Of the representatives
Is. state Banking Department when
Ao,k closed for the last time in May,
,.,s The Banking Department has dis
.-,-ss that many books and papers and
20. from ledgers have disappeared since
=. ha-k was closed. Sullivan is wanted to
- shout some Of the real estate oper-
.j,,s N which he was concerned and in
-si.s The bank PLAYED large part. nfor-
-.eon IS especially wanted from him as
=, sose operations that took place at about
.. lime the bank was closed when he was
a the head Of il.
Hearings Up to August IL.
lsou, thirty subprnas have been issued
,sngsther for hearings running up to Au-
*, 4. Mitchell May, Assistant District
iro-pey Of Kings County. who has been
,sxrpsd 70 assist Asemblyman Louis Gold
,,in IN the investigation. has secured the
- Of Part OF the Supreme Court OF
Ergs County FOR the investigators. After
o. hearing on Monday there will be an
adjournment Tor a week. az Assemblyman
so6stein has 10 be In Albany for the clos
n sessions Of the Legislature.
NJ Goldsteln will act es an assistant 70
o. state Banking Department and w. E..
Doage. who las been In charge of the
rr,on Bank for the State Banking Depart
7sat. will preside at the hearings and rep
-ssni superintendent Van Tuyl. Begin
,.g on July a Il is intended TO hold daily
harngs until the investigation is finished.
For the last ten days the State Banking
lspartment has been making a search OF
as records o. the office OF the Attorney
iaeral IN Albany, the Office OF the Secre-
NJ Of State, the state Controllers office
al the Insurance Department for evidence
caring on the closing OF the bank. Evil
s,ce was sought IN the office OF the Sec
,,nry OF State concerning the many incor-
watioas in which Sullivan played a part
I'd the bank was an important feature
he State Banking Department in the
mainline has turned over It's records 10
Asnblymau Goldstein. who sought certain
fasrs having an important bearing on the
circumstances attending the reopenirg Of
hs bank
Il is this feature OF the case that is ex-
.s;jsj 10 receive the first attention at the
1sNio hearings. The bank was reopened
b an order Of tie court and against the
rignent OF Clark Williams, who was then
S-perntendent Of Banks. The representa-
Ions that secured the permission for re-
Esning will DO a subject for minute in
isry. Mr.. Goldstein and Mr.. May will
ave a conference to-day TO decide on the
Ets' IN which witnesses will be called and
n general order Of the inquiry.
Mr.. May TO Cooperate.
NJ. May will AZ that time turn over 10
n. Godsteiu the large amount Of informa-
Ion IN regard 90 the closing Of the bank
'aa' has been gathered by the District At
'iisy's Office Mr. May is DESTROYS Of CO.
Seialing in every way with Assemblyman
Slastein in the investigation. but unless
u can be conducted in an orderly manner
4 viii take only q passive part. He is
Nucuarly anxious that a firm foundation
'iall be laid for the inquiry, and for this
issoa wants the first witnesses 10 be will
as and not recalcitrant. He also wants
~ !hqGir yto begin at the beginning and
FA forward while Assemblyman Gold
'e1 has seemed anxious 10 begin at the
F'9ld opening Of the bank, and work both
eays from the middle. :
lev returns have already been received
ma The notices Of the assessment OF
'Slkholders sent out by the State Bank
s DEPARTMENT ten days ago. but 1t is not
p'ecied that large amount will be re-
@'ea from the stockholders before the
KY days allowed by the notices have
'-ael Tho department has found the rule
2 1e Ia assessing the stockholders Of closed
''lEs that about one-third pay up volun-
say While the assessment can be COL
Etl from a. q. On NO.. cent mora with Il