New-York tribune., 1911-01-17
In AS RECEIVER FOR ROBIN
Banker Figures in involuntary
Petition for Bankruptcy.
WANT TRANSFERS SET ASIDE
Property at Stake, Mostly Bonds
and Stocks, Said to Have
Value of 100000.

! The State Banking Department Joined is
sues yesterday with individual creditors
| of Joseph q. Robin and began legal pro-
! ceednEs 10 secure for the creditors Of
the Northern Bank and tho Washington
savings Bank property believed TO repre-
sent gross assets of 100000 by having
set aside transfers Of this property made
by Robin shortly before his financial col
lapse
An involuntary petition in bankruptcy
filed against Robin yesterday morning in
the United States District Court on be-
half Of the Northern Bank. the Washington
Savings Bank and II. Gerald Chaplin. a
lawyer. as petitioning creditors. was fol-
lowed IN the afternoon by petition for
the appointment OF a receiver Of Robins
property which shed some new light on
the transactions OF the Indicted banker
during the last days Of his freedom.
The second application was made by A.
X. Afford. Deputy Superintendent of Bank
ing. In charge OF the Northern Bank. and
Elmer VI. Kimbark, a creditor for $500
This petition stated that Robin was in the
Tombs and that it had become necessary
10 have a receiver, as he was indebted TO
various banking institutions in very large
amounts. Most OF these loans. the po-
tiuon asserted. had been secured by col
lateral. and as many OF them had been
called tho securities were about 10 he
disposed OF az sacrifices. Continuing the
petition stated:
That on or about December a. 1910
said alleged bankrupt delivered and trans
fpr-ad IN IL, l.
u. kilbUrn. the A1tna Indemnity Company
and the Northern Bank OF New York the
following property:
First mortgage bonds issued by the
Bankers Realty and Security Company OF
the par value of s., 30 and the following
stocks: $50 shares Of the Northern Bank
Of New York. ss9 shares Of the Babylon
Railroad Company. 50 shares Of the A1tna
Indemnity Company, trust certificates rep
resentinS $3.50 shares Of stock OF the FL
deity Development Company. $50 shares
or common and Il shares Of preferred stock
OF the Fidelity Development Company 10
shares OF the preferred and go shares OF
the common stock OF the Bankers Realty
and Security Company, 81 shares Of the
Babylon and Oak Island Ferry Company.
p shares Of the Anthony Stumpt Publish
ins Company, 173 shares Of the Bankers
Money order Association. 10 shares OF the
ungartan-AmCrican Bank. shares OF the
Carnegie Trust Company. shares Of the
Merchants Exchange National Bank. 70
shares Of the Alexander Hospital, 100
shares Of the Cobalt Coalition Mining Com
pany, 100 shares Of the Greene Consoli-
dated Gold Mining Company. shares OF
the First National Bank Of Amityvillo. 100
shares Of the Reed Lumber and Timber
Company and 90 shares OF tho Bank Of
Discount OF the City Of New York.
Mr.. Kimbark gave the assets az approx
mately 5000. consisting Of stocks and
bonds, all Of which were held by some Of
the creditors as collateral for loans amount
Ing to ssS0O00.
Judge Holt appointed Peter Alexander re-
ceiver, with a bond OF $1,000 Mr.. Alex
andsr IS also receiver for the Bankers
Realty and Security Company. Of which
Robin is a director.
Tho securities enumerated in the petition
for the appointment Of receiver are ap-
psrently those meant in the charge made
in the bankruptcy petition. in which it is
alleged that Robin while insolyent trans
ferred, on December y, 1910, n some Of his
creditors various securities for the purpose
Of preferring those creditors over others Of
his creditors.
The claim Of the Northern Bank IS based
on a promssory note FOR $1,000. made out
- the Hamilton Bank on June o. lH07 by
David 4. Sullivan. former president 81 the
Merchants and Traders Bank and an as
sociate o' z. f. Thomas. The note was de-
livered 10 the Northern Bank on June u
1908 The petition states that for valua bic
consideration Robin, IN writing. guaranteed
the bank against any loss on tho $500
then due. Payment was demanded on
January and was refused. The Northern
Bank now holds securities Of total value
Of s5l,50o for the payment OF this note.
The Washington Savings Bank has a
claim for 800 on Robins note. and H.
Gerald Chapin claims 800 for legal services
10 Robin.