Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-09-15

said
That's mighty decent of you," re-
piled Smith.
Chief Weimer served Smith with a
| warrant charging him with having
made a false return to the State
banking department. Lieutenant Ke-
hoe, of police headquarters. served
him with another warrant, sworn out
| by William P. Odell, president of the
trust company, and charging embez-
element of $4,000
Conference Is Held.
A conference between Messrs. Lum,
Odell, Fairlie, Foster, Dunn, Mac
Evoy, Edward F. Clark counsel for
the Depositors' Association, and
William L. Morgan was held this
afternoon at the office of Pitney.
| Hardin & Skinner. attorneys for the
bank. 1t was planned to draw up in
legal shape the plan for the proposed
reorganization in order that it might
be submitted to George NJ. La Monte.
commissioner of banking and insur-
ance.
! 1t became known today on appar-
entity good authority that John Scar
| lett, one of the directors of the trust
company, was indebted to it for
| $4,000.
Chief of County Detectives Fred
| erick Wefmer said today that he had
| no idea of where he was going to
| find Smith when he started out with
Ralph e. Lum, counsel for Smith,
as well as the depositors' committee
late Saturday afternoon. "All / was
| told" said Mr.. Weimer, was that
| Smith was going to surrender him
self and that Mr.. Lum would take
me to where could find him. When
we boarded the train 1 did not know
whether our. tickets read for Eliza
| beth or the South Pole, but when we
| got to Railway Mr.. Lum said we
| would find Smith there, and sure
! enough there he was waiting in his
| machine. l placed him formally un-
| der arrest and we started back for
| Newark in Smiths machine. He
| talked to his lawyer all the way back
| and had no conversation with him."
| After a lengthy conference, Judge
| Harry v. Osborne, who had been sum
moned to the Court House, fixed bail
at $4,000 The necessary bond was
signed by Ralph e. Lum. who gave
as security property at 9S5 Broad
| street.
This statement was given out by
| Smith:
AT the time of my departure some
| four weeks ago / had no thought or
realization that the affairs of the bank
were in such shape as | have since
| heard. / have been with friends In
South Jersey and / have had no word
or news nor seen any paper until
couple of nights ago. was much sur
| prised to hear the statements made In
the report. I sincerely trust that the
situation which now exists may be very
materially hettered without delay. My
own assets have been very substantial
| l.xxx ~ II l,oI at nna
| demurrer to the bankruptcy proceedings
and shall have the bankruptcy proceed
ings dismissed if possible.
Few Individual Debts.
'My individual debts amount to
practically nothing. I shall convey
and turn over all OF my assets Of
every kind and description to such
| trustees or committee as may be APP
pointed by the directors of the trust
| company and the two or three others
who alone are interested. shall then
bend every effort to give all possible
| help, aid and assistance to the direct
| ors the banking commissioner and
the bank examiners in the effort to
straighten out the tangled affairs OF
the bank wherever and however pos
sible.
81 make the statement, and I be-
lleNo Lie lulutO VIII PtoNo ~
have never directly or indirectly
stolen one cent nor used one cent OF
the banks money for my own lndl-
vidual ends and purposes. ] have
never lived extravagantly, as the re-
ports have stated. All of my friends
and acqauintances. without an ex-
ception, will verify the fact that
have neither been extravagant nor 2
spendthrift, and / have always lived
economically.
IF it shall later appear that / have
made mistakes, perhaps serious mis-
takes, in the efforts and endeavors TO
help my friends, 1t will perhaps be
my turn to suffer for it, and ! shall
try to take my medicine like man.
I sincerely regret the present situa-
ton and that any loss should have
occurred to any one."
| E.~~l 6Aa