The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1911-01-10
Report Of State Bank Examiner
Is AnxiouSly Awaited
CARNEGIE STILL SILENT
Ironmaster Declines to Discuss AZ
fairs OF the Carnegie Institution
Which Was Closed Saturday
After a Most Sensational
Financial Career.

New York, Jan. 9.-Interest in
the Carnegie Trust company's failure
was conferred today in the forthcom-
ing report of State Bank Examiner
o. w. Cheney, as to the exact status
of the banks resources. That the in
stitution's affairs are in a more or
less tangled condition was made evil
dent by Mr.. Cheney's attitude when a
reporter called upon him Sunday
morning at his apartments in West
Eleventh street.
1T is impossible. said Mr..
Cheney, ITO give even approximate
figures on the situation. 1t will be at
least four days before the experts
now going over the trust company's
books will be able to complete gath
ering the information which is now
awaited by the depositors."
Carnegie Still Silent.
Andrew Carnegie refuses TO break
his silence so far as the closing up
OF the company is concerned.
sit is plain" said 6he, that ! Can
not discuss the matter.
According TO the latest statement
given out on November 10 the trust
company had total deposits of which
the ss.ss6.700 preferred deposits
were s4,765,3SO.
The difference OF s4.1s1, goo was
subject TO the legal reserve Law.
Hence the Is per cent. reserve that
should have been in the vaults would
have amounted to 100000. II is
certain that less than this amount
was on deposit when Mr.. Cheney
stepped in.
John T. Howell, president Of the
company. reiterated today his belief
that the depositors would be paid in
/ full.
The trust company has already
made bid for southern business
After the advent of Leslie NJ. Shaw,
shortly before the tanie OF 1907. the
policy OF southern advertisement for
the bank was adopted. and as result
many institutions through the south
ern states used the Carnegie as Q
depository. The number Of individual
depositors is said TO be small.
Friend of Mayor Gaynor.
This southern interest was further
accumulated by the entrance into the
company OF w. J. Cummings. prom
inent Nashville business man and q
friend OF Mayor Gaynor. Mr.. Cum.
mings tried his best 10 induce the
mayor TO use his influence with finan.
cial interests to prevent the closing
Of the bank, but in vain.
/ This appeal TO the mayor may have
been induced by the knowledge that
the city was such heavy deposition
with the company.
As stated yesterday, the mayors
chamberlain, Charles II. Hyde. had
on deposit with the Carnegie $780,.
900 when the doors were closed. II
any such plea we're put up by Mr.
Cummings. he failed to move the
mayor.
The public interest in the city'i
connection with the suspended trust
company Is centering on the reason
Why Hyde intrusted so large an
amount Of municipal funds with the
Carnegie.
This interest is naturally height.
ened by the absence Of Mr.. Hyde
from his Office and the complete lack
OF news from him for the last 2s
days
Al first IL was thought that Joseph
@. Robin was involved in the crash,
but this has been disproyed, though
It was the knowledge. that he had
been inyolyed with the company that
really caused its downfall II Is said
now the bank is out $4,000 from its
acquaintance with him.