Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-09-18
PROTEST SMITHS
ACTIVITIES IN BANK
Confined from First Pase.)

Continued from First Page.)
number of good and collectable notes
that would not have been discovered
but for his return.
welcomed by Banking Examiners.
Nov. then. the bank examiners
have been in the bank over a
month. They could find every scrap
of paper that was in the place in
that time. The only possible help
Smith could give would be in ex-
planning But why believe Smith?
He didn't stay to make his explana-
lions when the bank examiners first
appeared. He let them have month
of hard work without his valuable
hints and explanations. But now he
has come back and volunteered to
help, the banking department has
thrown open its arms as if he were
man who could be depended upon to
explain truthfully what caused the
wrecking of the trust company.
I'm not an expert accountant, but
If that isn't an affront to common
sense. l don't know what is. Suppose
theydo wtach Smith closely; we've
got every reason to fear his skill,
and we've got every reason to mis-
trust the motive that made him de-
sire SO fervently to be allowed to
help the examiners"
At the bank building it was Ray
mond E. Smith himself who first
greeted the two depositors.
"Why are you working here?' they
asked.
Pm here to help Mr.. Nredenburgh."'
When Mr.. Nredenburgh appeared
he made the same explanation
Mr.. Smith cannot interfere with
the books of the bank" the deputy
commissioner said, "but he is valu-
able to us in this way: When we find
two items we cannot account for or
associate together successfully he ex-
plains what they were intended to
| represent"
Mr.. Vredenburgh quickly excused
himself on the ground that he was
very busy.
| When Mr.. Kane and Judge Tower,
as representatives of their associa-
tion. approached William P. Odell,
president of the trust company, yes
| terday afternoon and asked to be
allowed to attend the directors meet
| ing that was to be held, they were
told that it was to be heart-to-
heart talk between the directors alone
| with no outsiders present.
Their persistence seemed to annoy
Mr.. Odell. According to them, he
said:
Offers to Give Them Money.
II will go into the bank now and
get your money and give it to you, II
you want it."
They refused, in the belief that he
was attempting to stifle their activity
in fighting for a dollar-for-dollar set
Element instead of the proposed re-
organization.
The petition that was sent to Mr..
La Monte asking him to reveal the
names of the makers of those notes
Mr.. Vredenburgh had described as
mot worth the ink they were writ
ten in" brought this reply:
your favor of the thirteenth,
addressed to me at my New York
city office, has been received.
"I think you understand that it
would be entirely improper for a
special deputy bank commissioner
(referring to Mr.. Vredenburgh,
to whom the petition had origin
= ally been presented and from
whom it had been referred to Mr..
La Monte) to give out any infor-
nation until he gives his final
report, which he will do as soon
as possible.
yours very truly. en-
GEORGE NJ. LA MONTE
Not Personal Request.
Judge Tower said that in his repl.
he would point out that the informa
/, ton had not been requested by hin
personally, but by a number of de
: positors, whose funds were tied up il
/, the bank; that these deposltors ha,
= every right to such information, and
0 finally, that the depositors desired tn
names of the makers of those notes Il
the cause of Justice.
: ut reached the ears of the deposi
> tors" explained Judge Tower, "tha
$ a. man largely indebted to the ban
Q was making ready to flee. / am go
ing to explain to Mr.. La Monte tina
= we want to know just who are tn
q makers of these bad notes. Then W
: will be in a position to bring ther
: to justice, if they make any attemI
q to escape. That seems to be a fai
!, enough proposition, and / do not sc
8 how the commissioner can refuse.
n course he may say we ought to leaV
II that to the authorities to attend t,
/. But we don't want another Smith ep
e sode. Smith was allowed to get ava
q scot free and the authorities didn
e stop him or find him after he disaI
: peared."
,e Edward d. Dunn and Ralph
Lum. counsel for the directors, wei