New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-19
SHEARS FOUND GUILTY.
Borough Bank President Is Con-
viCted of Grand Larceny.
JURY RECOMMENDS MERCY
Remarkably Short Trial Ends
in Victory for District At
torney of Kings.

Broc r. Shears. formerly president OF
now out OF business was yesterday con-
victed Of grand larceny in the Supreme
Court, Second Department. lie will be
sentenced Monday.
The trial was exceedingly brief. II be-
gan Friday morning, with Justice Fred
erick +. Crane presiding. The jurors were
selected by noon. and the afternoon saw
the completion OF the case OF the prosecu-
ton. The defence closed At $3.50 O'Clock
yesterday afternoon.
Mr.. Shears refused 10 go on the stand
in his own defence. His chief witnesses
we're his two brothers-George W. Shears.
jr.. teller OF the Dime SAVINGS Bank, and
Sumner s Shears. OF Manhattan. Tie
latter told of raising 5000 to pay off the
money which the former bank president
was accused Of having Incorporated.
The jury left the courtroom at 800 O'Clock
and returned at 40 with the verdict II
guilty, but strongly recommending mercy.
II r. less than two weeks since David
A. Sullivan, ex-president OF the defunct
Mechanics and Traders Bank, OF BrooS-
lFils NhN 'OTNllltu VI - hh' 80
the same courtroom and before the same
Justice He will also be sentenced Moi
DAY. Ex-President Damron, OF tho Home
Bank. will be placed on trial for grand
larceny next Wednesday, according 10 me
present plans Of District Attorney crop
sey Of Kings County.
Mr.. Shears was first heard Of In the
financial world when he was sent rs an
examiner by the State Banking Depart
ment 10 look into the condition OF the
Borough Bank after the the panic OF 1901
in which the institution had gone TO the
wall. Largely through his efforts, the
bank was able 10 reopen. Mr.. Shears was
made president and continued In that
Office until the bank again failed. two
wears later. Recently Mr.. Shears has
worked in a factory for N5 week, &C
cording to reports.
The crime OF which Re stands convicted
was that OF stealing $500 from the Hollis
Park Realty Company. The Borough
Bank. In the course OF liquidation, ar
ranged 10 pay its depositors 10 per cont
on their claims. The sum II paid the
Hollis Park Company was 1884 q. MI
Shears. Herman ". Lucke and Thomas +,
Martin, the three trustees ~ the concern
Endorsed the check from the Borough
Bank and turned Il over 10 Mr.. Shears e
open an account Al the Mechanics Bank
in favor OF the stockholders Of the com
psny.
Instead Shears Endorsed tho check as
president n the Crescent Mortgage Com
pany. This was on october 7. l9ll Tie
nrosecution showed that h. had WIN
drawn the sum Of 1884 - from the Greg
cent Comparys account and had depos'
it.d u 10 tho credit Of the StOCknold'r'
Of the Hollis Park Company, and had
then used the rest Of the sum. s3.eoo
for the Crescent Mortgage COMPANY
List spring Mr.. Shears maze great ef'
forts 10 raise the $1,000 which he har
taken but his misappropria'ion vas dis
covered and last summer he wa indicted
for grand larceny. Sine. then, he Ia.
been at large under $1,000 bail
Robert ~ Elder. former Assistant pis'
| trict Attorney. who appeared NJ tho tria
as Mr Shears attorney. made as his
| clief point the fact that the defendant
had made restitution. but Justice Crane
CHARGED the jury that restitution did NJ"
wipe out the crime. hut m,rcl. acted II
mitigation Of the offence.