The Bridgeport evening farmer., 1911-01-07
Run on Institution for Week Used Up Available
 Resources Interference of Banking De- partment to Protect
 Depositors More Than $11, 900, 900 In volved in Closing of Com pany, Which Was a Mar gin Depository of the N. Y. Cotton Exchange.
especia, from United Press.) )

fSDeclal rom OnltcQ ITcSS.B
 New York, Jan. 7-The Carnegie Trust Company, was closed, today. by State Superintendent of Banks Chen ey.
 The company was chartered in 1907 and had . paid up capital of $1,5oo- COG. surplus and undivided profits of y.1 600 and gross deposits of about ss.soo ooc.
 ofncsals of the closed institution stated that there had been a quiet run on 1t for more than a week and thfs had used up all the available ready resources 50 the State banking department was called on to interfere to protect the rank and file of the depositors-
 J n. Howell, formerly president of the Fourth National Bank, Nashville, Tenn, is at h.s head of the Carnegie Trust company. J. B. Reichmann was president of the company, but recent ly retired
 O. H. Cheney. head of the State banking department, issued the fol- lowing statement concerning the clos fng- of the trust company:
 Superintendent of Banks has talk en charge of the property and bus1- ness of the Carnegie Trust Company, located at Ills Broadway. The exam fnation of the affairs of this com p&ny has caused the superintendent to conclude that it IS in an unsound con- dition to transact business and that # is not safe for it to continue.
 'The examination is not yet com plete and no further statement can be made at this time"
 The late Charles Dickinson. whose mysterious death. May 24 1e1o follow ing gas poisoning while witnessing a chemical demonstration iii Scranton, Pa, has never been thoroughly solv- ed. was one of the prime movers in founding the Carnegie Trust Company which opened for business. June l, 1907. After the company had been do- ing business for a few months. Dick inson resigned in favor of Leslie M. Shaw, formerly secretary of the treasury. Dickinson remained as a viee-president and virtually manager Of the trust company. Shaw held the presidents office but a few months after Dickinson was released.
 Shaw's resignation was due, it was stated, to Dickinson's alleging that the former secretary was lbeset with a bee to become President of the Uni ted States
 The Carnegie Trust Company grew under the aggressive policy of Dick fnson. His management, however, eventually received much criticism because of unsecured loans to George P Sheldon, president of the Phoenix Insurance Company. who died under stated that the Sheldon loans were in- significant in amount and that the trust company sustained no loss. A short time before Dickinson's mysteri- ous death, Rudolph Kleybolte & Com YAny, 115 Broadway. got an order from the court for the examination of Dickinson, his brother and Robert B. Noorehead. secretary of the Carnegie Trust Company. in the matter of loan of $1 .0oo. 900 made to P. J. Kier- an. Of the Fidelity Funding Company, wh'ct. had been put partly in the alleged. in order to avoid having so large loan in the name of Kieran.
 Dickinson died of pneumonia and kidney disease. it was said but it was further declared that the con- tribusing cause of his death was the inhalation of poisonous gases in F. W. Lange'S laboratory in Scranton, Pa. It was said that Dickinson and others were there witnessing the experiments of the chemist on a non-cOrrosive metal while other stories were that I<ange claimed to be able to make silver or gold from baser metals The mystery was never cleared up for the Scranton chemist denied that any gas Dickinson had inhaled there had con- trabuted toward his death. There were reports that Dickinson had commit ted suicide but these reports were strenuously denied. Some time before his death. Dickinson was thrown from his horse in Central Park and his skull fractured.
 More than s11. 100000 is involved in the closing of the trust company, the last report of the institution to the State banking department, on Nov. 10, 1910, showing total assets of $11, ,170. .60O
 The Carnegie Trust company was a margin depositor of the New York Cotton Exchange but it is expected # had not received a large percentage of the business of the exchange late .y-
 Joseph c. Robin, the indicted wreck CT of the Northern Bank, was indi- rectiy responsible for the closing of the Carnegie Trust company, he be- ing one of the original directors of the trust, but was forced out two years ago. The fact that Robin had been connected with the institution. however. started the run that caused the suspension.
 Do