Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-10-22
JENNINGS AIDING
STATE IN QUEST OF
MISSING 100000
Former Teller, Arrested Follow
ing LOoting of Roseville
Bank, Helping Examiners.

DuhH5 tAStpuS LAdiitiuNt Ss
That startling developments are ex-
pected in the affairs of the defunct
Roseville Trust Company was shown
| this morning when 1t was discovered
that Augustus Randolph Jennings,
| former teller of the bank, had been
| secretly working in conjunction with
the banking department for the past
several days. 1t is understood that
| Jennings has given the examiners
much information relative to where
that mysterious 100000 went" and
which up to the present time remains
unaceounted for.
| 1t has been suspected from the on
set of the investigation to unravel the
| tangle. that several persons on the
! outside were implicated in the looting
| of the institution, and it is thought
that when Jennings's work has been
completed several of the large bor-
| rowers of the bank will be called on
for explanations. At least two of the
directors will be involved in what is
thought will prove to be an ugly
+, scandal
Bank IncOrpOratOrs Meet.
Clifford It. MacEvoy. president of
the Depositors' Association; William
Clark. counsel for the association and
the six other incorporators of the
new Mutual Bank, held meeting in
the director room of the bank last
night. Plans for the new bank were
thoroughly threshed out and ii is ex-
| pected that a statement of some kind
with definite assurances to the de-
positors will soon be forthcoming.
A ft,arr ef
tective Association will be called by
Michael Kane. jr.. for some time this
week and resolution will be adopted
to force the directors and examiners
to make some definite statement of
the bank s affairs. Frank McDermitt,
! jr., speaking for his father, who is
/ counsel for the association, said that
warrants for the arrest of the di-
rectors will be sworn out Immediately
after this weeks meeting if some
thing tangible is not given them be-
1 fore that time.
"All this talk of reorganization is
all right, but we have got to be
shown. We will not take 40 per cent.
cash and then maybe have to wait
eleven years for the remaining sixty
and even that will not be guaranteed.
II something definite Is not done at
once we will take action"
MacEvoy Gets 454 shares.
The rumor that Mr.. MacEvoy is
either representing the directors or
some other bank in the reorganization
scheme was further borne out when
he yesterday signed for 454 shares of
stock in the new bank. The other in
corporators signed for only seven
each. In explaining his .nir ben =
ishares Mr. MacEvoy stated tha1 1t
shares mad heen purchased with the
money put up by some of the directors
and former officers OF the bank.
The depositors want to know why
the shares were purchased in Mr..
MacEvoy's name, and are not inclined
to accept his explanation, as he has
never been named by them as their
trustee.
1t is understood that most of the di-
rectors who pledged approximately
$122, 900 towards reorganization with a
view of paying 70 per cent. on the dol
lar back at once, and the remainder in
three years, the first plan formulated
and succeeded by the present one,
have giver their consent that this
money be turned over to the deposit
tors, provided they were released from
all further lie ebility from either civil
o- criminal suits. The depositors ask
MIR MacEvoy if the shares purchased
IN his name were purchased with some
of this money. The money itself is
Supposed to be on deposit in The Essex
County National Bank.
The list of those directors that put
up money toward reorganization
about six weeks ago and that fell
through owing to Edward ID. Dunn
disclaiming any respons ,bility at the
eleventh hour and refusing to con-
tribute is as follows: William p.
Odell, SAL 900; William Fairlie. 100000;
John S. Bell. $4,000: James B. Banis-
ter $4,000; Harvey Mott, $4,000;
Harry w Foster. $4,000; G. Rowland
Monroe, $4,000, and Charles c. Zurich,
81, 500 Edward d. Dunn pledged $32.-
900 and an additional 100000, IL neces-
sary.
Mr.. Vredenburgh this morning stat
ed that he had about 100000 worth of
mortgages that had been pledged as
collateral for loans, and that he had
thought of disposing of them to some
insurance company or large bank ca
pable of taking up the paper, but ow-
ing to the notoriety given the ex-
aminers, charging them with playing
favorites among the larger banks, he
would not take this course, but would
notify each maker of the mortgages
that they would have to make some
arrangements for taking up the Sc
curity.