New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-04-11
NORTHERN BANK DIVIDEND
Depostors Likely to Get Halt
Their Morey Ere Long.
CARNEGIE MAY PAY, TOO
New Offers for Assets Likely to
Make Full Settlement
Possible.

Possible.
rhe state Ranking Department MADE ap-
rli-ation vesterdsv 70 the supreme court
a nreIinirarv TO The distribution 81
Get dividend ~ so rer cent m the deposi-
,a-- If the Northern Bank. on tho afldaNlt
If Abra K Afford. Special Deputy Banking
-lperint-ndent. In charge as receiver. that
loa rad on hand seS2O.65s Creditors are
directed hv the court order 70 show cause
on THURSDAY WHY the proposed first diVi-
dend should not be paid
ate yesterday afternoon II appeared
that developments Of tho carnegie Trust
zee also IN he hands Of the state banN-
,nl Department as receiver made II seem
likely that the depositors IN that INSTITUTION
would also rome in FOR substantial diF'-
os7d IN rhe near future The Assets heaH-
carton Company. which previously made II
US understood. an offer Of S5.oeo.oN0 Tor
the assets Of me Carnegie Trust COMPANY
amended rs offer yesterday by an increase
witch tho department RS considering. Inc
rroHersd $4,000 600 was refused by inc dc
rarrr1ent because IL would not have paid
on the claims against the carnegie ana
though the amended offer made YESTERDAY
fs rsid 70 be somewhat short Of an amount
that would pav Of all claims in fun. It is
known that 10 rs a substantial increase over
Tho 1rst offer
Resides that ~ was reported YESTERDAY
that an independent banking syndicate was
preparing 70 make an offer 70 Superintend-
mt cheney for the CarneEies assets which
viii pay Of IN full all tho dopositors' and
ether claims against that institution.
In the case Of the Northern Bank. the re-
rorrS ~ the receiver. A. x. Afford. show
that Of the So 1925 undisputed claims
which stand on IT'S books. s640l2i has 80
f-r not been claimed The rumor % this
discrerancv has spread around in the vicin-
itv Of several ~ the branch banks of the
Northern. and one result has been q pro
-szsion Or former deposirors of the bank
with old passnooks which they have en-
doavored m file as claims though tho books
show that thev discontinued their accounts
long before the bank was closed.
The INVENTOR ~ the Northern assets
-ho7-ed S7.073.59S. which IS considerably IN
excess If the S.46923 ot undisputed
claims AGAINST the bank. and In excess even
~ the $50 So which includes the disputed
claims. OF this extra Sf1L121 The chef
claim IL that OF i. Augustus Heinze for
s550O00. which he saws he lent Robins
Riverside branch OF the Northern IN the
19-7 panic.
Among the Northern depositors is tne
rostofice. FOR s1c.eSS Tie post0ffce is q
referred creditor that must be paid IN
fun The Metropolitan Street Railway
Company is down for $1,000. and The Wine
Liquor and Beer Dealers Association. 10y
Jcnn Mustard. president with $-.336. is
followed in rho list by the sunshine Mis-
sion Band for sllS.
D-iftwood Manor. tho long Island place
o. Joseph @ Robin a Riverhead. was sold
= public aution YESTERDAY and was bid In
rs Frederick +. Cou~ov. IF SO a01 Greene
avenue BROOKLYN for S.1o subject to two
mortgages for $500. lt is understood tina.
Con-ov acted as the representative Of pr
Louise Robin0vitcn Robin sister. The
estate which goes with tho house COM
urIses about one hundred acres near Wad-
ing River. and Is valued ar about $500"
The property was sold 10 satisfy d lien
~ s4oNo held Dv Gilbert r. Lopez. II Port
jefferson. the contractor VINO erected Inc
building THE TWO mortgages are held bv
the Rochester Title Guarantee Companv
TO- vOooo and rho Aetna indemnity Com
ranv for Sl5o0o both NJ which are Robin
concerns Loper saws he BUILT the house
for the Wadfng River Realty Company
about four years ago. He has begun an
other action iu the Supreme Court 90 have
cancelled the deed which the realty COM
ranv gave to Dr. Robmovitcn. 0n che
ground thar b. was "a fraudulent transfer
Toper SAYS the property was NOT trans
fe-~ed 70 DR. RObInovitcr until after Robin
20 into trouble last Uecemae- 1ut the
realty COMPANY asserts that it decided the
r-onertv 70 Robins sister iu January. 1910
and that Robin never owned IL ar all.
James J. Martin. rho city Chamberlain
VINO was the predecessor IN Office ~ Charles
IL HYDE is to ne called before the grand
.u-, which is irvest ieatirg the collapse
% the Carnegie Trust Company. to sivo the
Jurors an idea of the way the city deposits
we've handled ir his term. NJ Hyde
statement Of SUNDAY was freely commented
-iron by those interested IN the investiga-
fion and the most frequent remark wa
that me present City Chamberlain failed to
explain how he came 20 deposit such large
sums I'm the Carnegie Trust Company when
rtg predecessors in Office had studiousir
avoided IL as a city depository. even though
T. was on the designated 'ist
Oakleigh Thorne. president of the Trust
Company of America. Henry r Shoemaker.
ono of It's directors and r. Ross Appleton,
president Of the Fourteenth Street Bank.
wore the only witnesses before the grand
.,,-,- yesterday They explained to tho
grand Jurors IT, IS understood. the coin
cfdence- Of CITY deposits following loans 90
the Cun1mins syndicate. such MS have been
1,sclosed hv tho representative of several