The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-08
PRINTER, BANKER,
INTERNED BY U. S.
Former President of Transit
lantic Trust Co. Ordered to
Fort OglethOrpe. y
COMPLIANT OF TEUTONS
Investigation by II. w.
Sprague, Jr., Leads to the
Order for Detention.

The Government yesterday fixed Fort
Oglethorpe, Georgia, as the address OF
Julius Printer for the remainder of the
war. Printer, former president of the
Transatlantic Trust Company, whose po-
sition in the confidence of the Teutonic
Governments was proved when 1t was
shown he had advance information of
the arrival of the submarine Deutsch-
land at Baltimore two years ago. was a
Hungarian expert on banking and trade.
He Investigated trade conditions on all
the continents except South America be-
fore he was sent to New York in 1911
TO found the Transatlantic Trust Com
pany.
Printer was recommended for In
terninent by Rufus w. Sprague. Jr,
chief of the Enemy Alien Bureau, after
an investigation into his personal activ-
tiles as an enemy allen that was begun
when he and three others connected
with the Transatlantic Trust Company
were arrested on July IL. The trust
company had been in the hands of A
Mitchell Palmer, Alien Property Gus
| todian. for several weeks prior to the
arrests.
Tho investigation disclosed he was
one of the many active agents OF Ger
many and of Austria Hungary, who
subsidized coincident with n declaration
Of war by the United States against
Germany.
Big Aid to Central Powers.
Printers keen intellect and compre-
hensive business training made him a
valuable aid to Teutonic propagandists
while this country was neutral He was
in constant touch with Or. Dumba. Aus
trian Ambassador, both before and after
that officials departure from this coun-
try. He was a friend of Capt. Won Pa
pen. Franz Rintelen. German paymas-
ter and bomb plotter, had an office in
the building with the Transatlantic
Trust Company at 81 William street and
an account with the trust company.
Printer was born in Hungary in
1876. His father was a well to do mer-
chant and farmer. He was graduated
from the university at Budapest and
served his year in the army, obtaining
the rank OF Lieutenant, which he held
in the reserve.
After preliminary experience with
firms engaged in importing and export
ing at Budapest, Paris and Odessa, Pr
ntzer was appointed in 1901 to be an
attache OF the Hungarian Ministry of
Commerce.
In 1905 Printer went to the Vienna
Bank We're in Budapest to hold a posi-
ton similar to that of ce-president in
an American bank. While in this posi-
ton, he came to the United States and
travelled over the whole country, SIM
pGfying banking relations with Austria
Hungary.
Comes to New York Bank.
In 1911 Printer was asked BY the
Hungarian General Credit Bank to es-
tablish a bank in this country which
would seek the business of immigrants
who in the years before the war sent
back between $4,000, 900 and .s50 OO0,-
600 each year to Austria and Hungary
He accepted the offer and came here
with Baron Kornfeld vice-president of
the Hungarian Credit Bank.
Printer founded the Transatlantic
Trust Company under highly favorable
conditions. He received 100000 jointly
from the Hungarian General Credit
Bank. the Hungarian Bank of Trust and
Hungarian Discount Note Bank This loan
was made without interest on the under
staining that the money would be rede-
posted with the founding banks. who
would nay Printer Az per cent
Another 100000 was advanced to
Printer by the Postal Savings Bank of
1
per cent. was eNacted on, this loan, with
the condition that the money should be
invested In Austro- Hungarian Govern
ment bonds at Az per cent
The return to the lenders was in the
dividend on their stock interest. The
company was Incorporated with capi-
tai of 100000. When the property was
taken by the Allen Property Custodian
% per cent. of this was in the hands Of
4, 70, III
In the hands of Americans. Printers
return was in the form of $4,000 year
salary.
The trust company was successful
from the start. When taken by the
Government it had deposits of $1,000. 200
and q surplus of $500, 900. The trans
fer to the Government was accomplished
without "A jolt, and it has been going
along smoothly with new officers and a
reorganized board of directors. Its
branch at 100 Seventh street does
large business among small depositors
who live on the East Side.
Among the documents of the trust
company seized by the Government was
r letter from Baron Zwiedinek, Charge
d Ana Tres of the Austrian Embassy after
the departure of Dumba. Zwiedinek
suggested that Austro-Hungarian war
loan bonds be sold here as German war
bonds had been. He added that every
dollar obtained for investment in these
bonds would not be available for loans
to the Allies"
His Judgment Questioned.
Zwiedinck. who appears to have been
peculiarly influential in the affairs OF a
trust company which Printer persis-
tently maintained was free OF control by