The evening world., 1913-08-15
ROSEWLLE TRUST
VICTIMS PLAN TO
|ND|CT DIRECTORS
Angry DepoSitors Urge Legal
Steps To Hold Officers
Personally Responsible.
LOVE BEHIND WRECK
Disclosure of Smiths $780,.
600 Shortage Attributed to
Revenge of Man or Girl.
LOVE BEHIND WRECK


Depostors Of tho Rosevil,e Trust
Company Of Newark. whose treasurer
secretary and virtual boss. Raymond ..
smith. vanished wednesday. whsn bank
examiners discovered that the company
had been looted OF $4,000 or more and
closed the Institution. took the hrst step
to protect their interests to-day. Seven
ty-lnve. many OF them women ana girls
hold a meeting In the Roseville Auditor
lum. That their action would result
almost certainly In scandal involving
some OF Newark's foremost business
men did not deter the depositors whose
anger agalnst the Board Of Directors
gowed at q white heat.
clifford McEvoy who II said to nave
$4,000 on deposit In the closed trust
company. was elected temporary chair
man. The meeting closed with the ap-
pointment Of a committee OF five to OBJ
tain legal advice for the depositors. who
formed an association.
This con clusion was reached only amer
MIR. McEvoy and other depositors had
made charges against the directors with
criminal negligence for their failure to
attach the POSSESSIONS OF Mr.. Smith.
when they got there with q writ Of
attachment from the County Clerk. Ne
cried. they found that employees OF
the Oakland Motor Sales Company mad
removed At least hair q dozen automo-
biies. which could have been attached,
70 another garage
Smith mas an automobile agency In
Newark and Orange. Mr.. McEvoy scored
the directors and added:
There IL plenty OF evidence that thi'
gross misms ma cement existed before thu
iootinG OF the company. as we'll NJ II
the conduct OF the directors afterward.
lie said a director had told him de-
positors probably would not get more
than N or 20 cents on the dollar. an'
he advised the meeting to take stepi
TO hold the directors personally re
sponsible.
Its up to US to restrain every director
from disposing Of a single persona
asset" Mr.. MoEvoy said.
DECLARES DIRECTOR WITH
DREW $4,000 IN TIME.
Charles G. Zurich. one Of the direct
ors. entered the hail and Mr.. McEvo,
| shouted that II was Zurich who wal
reported to have Withdrawn 31t.ooo-al
OF his deposition the day before thu
| company shut down. Lurioh denied
this. saying he hadn't withdrawn
cent. and then pleaded. futilly. for tn
depositosss to post ne action until thu
bank examiners had made a report.
How the state ofRicial happened 4
visit the trust company was "A myster!
until late this afternoon when a rumo
| gained cr.dsnce that = love AFFAIR In thu
company had been at the bottom OF tn
investigation. An o6icer Of tire banl
an da girl stsnoGrapksr were said Il
have fallen In love and TO have beco NJ
so wrapped In each other an ID caus
comment In the company. At any rate
each vas asked to resign aud lid ~
Immediately.
| IL was pointed out this afternoon thu
either one probably had been In q 20
sition to know considerably concernini
the conduct of the conpany's anairs ant
Il is generally believed that the man o.
girI gave a word OF warning to the Stat
thanking Department In revenge.
DIRECTORS VOTED "FULL CON
FloENcg" IN SMITH.
The depositors are especially angere'
! by the fact that. three years ago. tn
directors we're warned against Smitl
by the state Banking Department
| when an examiner found . $500 ioal
/ which he characterised As queer" \
least. At that time the directors. b,
unanimous vote. Expressed 'fuli conf
| dence In tho treasurer and retained hin
In his position.
Smith has not yet been accused o
theft. Tho police are not looking 70
him. but the bank officials are, and nov
anxious they are to find him was re
vealed whom l.. X. VredenbtTEh. Specia
Assistant Deputy Commissioner o
Banking and Insurance. who 10 In com
mand at the bank. admitted t0-da,
that In Smiths absence the Invsstisa
ton WAS practically at a standstiil.
! Il wish he were here" compliance
Mr. Vredenbursh, I'VE are CONSTANT!
coming upon tansies IN connections will
loans which, II Ia beginning to seem
can he Strengthened out only by Smith.
In the event that Smith 10 really |
fugitive with good reason to keep on
OF the hands OF the bank officiaIs. thi
need OF his presence puts In his hand
A strong weapon with which to conduc
negotiations for his return.
The directors of the company aEalns