New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-12-30
CIRCUIT And ASHLEY
Held FOR PERJURY
indicted for Swearing to
False Report on the
Union Bank.
OLD CHARGE
is RENEWED
Officials of Defunct Institution
Misrepresented Assets,
Is Alleged.

T.-Controller Edward NJ. Grout and
James r Ashley were indicted by the
Kings County grand jury yesterday for
perjury committed while president and
cashier, respectively, OF the Union Bank,
now defunct The men were indicted for
misdemeanors on practically the same
allegations a couple of years ago in the
administration of District Attorney John
r Clarke. These indictments are still
pending.
The charges are that Grout and Ashley
vnully made and swore to false report
as TO the assets OF the bank in April,
lql0 Although the accusations were
identical. separate indictments were found
against the eX-officials.
Both men were arraigned before Judge
Dixie in the County Court in the morn
ing Grout appeared first and pleaded
not guilty. His attorney, stephen G.
Baldwin. asked the court 10 allow the
prisoner 10 go on his own recognizance.
District Attorney Cropsey sprang up and
said
IT have always made it practice to
oppose the policy OF allowing defendants
10 he released under such conditions, ami
! oppose It now, as matter OF policy.
and not from any personal motive
I'm allow the defendant 10 go IN the
custody OF his own attorney" replied
Judge Dixie.
The same disposition was made Of the
Ashley case when he came i'm with his
counsel. Andrew F. Van Thun, few
moments later.
Both Grout and Ashley had been or
dercd TO appear in court Yesterday morn
ing, though Grout had been informed
that new indictment was pending
against him. After his arraignment circuit
gave out this statement:
Il had not lived in this community fifty
years holding various positions not only
or honor but of trust and responsibility
10 become suddenly. I'm April. 1910, both
q foo and a rogue and ! would have
had 10 have been both If this indictment
were true. This will be evident to peo-
PIE who note that the alleged oVeTvalua-
ton amounts TO nearly $4,000 sum
far exceeding what the banks capital
and surplus were ever supposed TO be.
1T will he recalled that not one Of these
alleged overvaluations was of assets for
which ] was responsible, but were all
iu one form OF another inherited from the
sullivan administration and were ali
turned over to me at the reopening Of the
bank by the Banking Department at the
.aluoe at which We thereafter carried
:hcm until we found reason to the con-
aary
SO far as I knew at the time, the re-
port was true i'm its statements. notWith-
standing the fact that after three years
and half OF the administration OF Mr.
Dodge Mr. Goldstein and Mr.. Cropsey
many Of these assets have turned out
60 be worth less than either | or the
Ranking Department thought them 10 be
worth three and a half years ago"
Under the 1871 indictment Grout and
Ashley were charged with making a false
report. and the most serious allegations
I'm the GrOut indictment were stricken out
BY Justice Marean. The indictments yes
terday accuse GrOut and Ashley OF per
fury According TO the indictments the
false statement made il appear that the
resources OF the bank tOtalled $7l65,2 Ol S.
when the total was I'm fact only 1884,
800 IS: also the statement made it appear
hat the bank had loans and discounts
part of its resources, amounting TO 4954.-
I63 81 whereas the right amount was g.
i55 1856 -.
The false statement, according to the
indictment. also reported the value Of
the real estate owned by the bank 10 be
worth s547,lS7 46. when it was worth only
$3.50 434 10. and that it's stocks and bonds
were worth $3.50 434 u, when they we're
worth only t215,464 49,