The Bridgeport evening farmer., 1916-09-27

While the document IS based largely upon the facts brought out at the var ious hearings in connection with the failure of the banking house, there are many sensational allegations of high finance that in view of recent events are highly interesting to the money through the banks failure. money through theb ank's failure.
 It is asserted that the creditors are moved to ask for Chamberlain's re- moval on many grounds. One of these is the' fact that Chamberlain through manipulation of notes has reduced his own liability on funds which should be included in the banks assets.
 It is further set forth that the sale of the rent and mortgage business of the defunct firm was affected by Chamberlain in such a manner that the Title Guaranty & Trust Co. bought it for small part of its real value.
 It is represented first. that:
 On or about the 18th day of No- vember, 1914, a creditors meeting was held for the purpose of electing trus- tee in bankruptcy.
 That John c. Chamberlain was one of the nominees for such position, but opposition to him had developed, largely because of a belief on the part of many of the creditors that he had been the attorney for the bankrupt for a number of years.
 That at the hearing. John c. Cham berlain addressed the creditors, rep- resenting that he had in no way been connected as attorney with the firm of Burr & Knapp, or with said Herbert Knapp or Mary B. Burr. ex- cept that his law firm had foreclosed mortgages for said firm of Burr & Knapp and that his appointment was necessary to protect the interests of the creditors.
 That such statements were in fact untrue and were made for the purpose of securing his election as trustee and permitting of the acts hereinafter re- ferred to.
 Note for $1O,OOO
 A second allegation asserts:
 That on or about the twenty-fourth day of August, 1914. Herbert Mknapp knowing that the firm was in failing circumstances, sent for John c. Cham berlaiu and informed him that he must raise $10.000 that day or the firm of Burr & Knapp would be closed up by the First-Bridgeport National Bank, to which it was indebted in a large sum of money.
 That John O. Chamberlain. having stated to Herbert M. Knapp that he did not have such a large sum Of money available, Herbert M. Knapp stated that the said First Bridgeport National bank would accept in place of the $1O,000. a note which Hervey D, Burr, the son of Mary E. Burr, would draw to the order of Burr & Knapp, if Said John c. Chamberlain would endorse it. and that this would prevent the bank from taking steps to throw the firm of Burr & Knapp into a receivership.
 That John c, Chamberlain agreed to do this. provided he was secured against loss thereby and it was then agreed between John c, Chamberlain and Herbert M. Knapp that tract Of land known as Fair View Lawn." which was held by Hervey F. Burr, as trustee for Burr & Knapp. should berlain against loss from endorsement the mortgage to be made to John U. Chamberlain,
 That John c. Chamberlain endors- ed the note for .s10,000, drawn by Hervey E. Burr, in favor of Burr & Knapp, on the 26th day of August, 1914, and the mortgage as stated, was thereupon, given to John O. Cham berlain, being executed at Bridgeport Conn.