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New York Bank Suspends. New York, April 15.-The Federal bank. a state institution in this city, was closed during the day and officials of the state banking department are in charge. D. Rothschild is the president and its capital is $250,000. According to a recent statement the institution owed depositors $486,000.
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New York Bank Suspends. New York, April 15.-The Federal bank, a state institution in this city, was closed during the day and officials of the state banking department are in charge. D. Rothschild is the presIdent and its capital is $250,000. According to a recent statement the institution owed depositors $486,000.
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IN THE HANDS OF RECEIVERS. 1 Federal Bank of New York Has Been Closed. New York, April 15.-The federal bank, a state institution in this city. was closed yesterday, and the officials of the state banking department are in charge. David Rothschild, was president of the institution, until a few weeks ago, when reports having come into circulation that the bank was connected with the Globe Securities Company, which loaned money on salaries, he resigned, and was succeeded by William M. Woods, who, with W. Doolittle, had secured control of the bank. The bank's capital is $250,000. According to the last statement in January, the individual deposits were $486,410, and loans and discounts $632,160. At an auction sale of securities at the real estate rooms yesterday stock of the bank, with assessments on it sold as low as $10 a share, causing considerable comment.
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BANKER ROTHSCHILD SENT TO THE TOMBS NEW YORK. April 18.-Charged with misappropriating $200,000 of the funds of the suspended Federal Bank, David Rothschild, former president of the institution, to-day was arraigned before a magistrate and held in $25,000 bail for examination April 20. Rothschild was taken back to the Tombs to await ball.
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TWO BANKS GO DAVID ROTHSCHILD CHARGED WITH EMBEZZLEMENT, IS THE CAUSE. New York, April 18. - A receiver was appointed today for the Globe Security Co. Last week when the Federal bank was closed, it was said that David Rothschild, the former president of the bank, was also interested in the Rothschild is Globe Security Co. charged with misappropriating $200,000 of the funds of the Federal bank. He was held in $25,000 bail for examination.
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# Rothschild Is Held. New York, April 18.-Charged with misappropriating $200,000 of the funds of the suspended federal bank, David Rothschild, former president of the institution, was to-day arraigned before a magistrate and held in $25,000 bail for examination April 20. Rothschild was taken back to the Tombs to await bail.
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Bank President Arraigned. New York, April 19.-Charged with misappropriating $200,000 of the funds of the suspended Federal bank, David Rothschild, former president of the institution, Monday was arraigned before a magistrate and held in $25,000 bail for examination April 20. Rothschild was taken back to the Tombs to await bail.
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HELD FOR GRAND JURY. ROTHSCHILD'S METHODS. Muirhead Found-Clash Between Globe Receivers Over Papers. Strong intimations that more prominent men and women, including a well known bank president and a Standard Off man, as well as other banking institutions heretofore reputable. were involved in the dual collapse of the Federal Bank and Globe Security Company. were made yesterday. There was a persistent report that David Rothschild speculated and lost heavily in stocks. Rothschild was again arraigned and held for the grand jury at bail aggregating $25,000. A member of the firm of Meyer & Goldsmith, attorneys for the creditors in the bankruptcy proceedings, said last night that a writ of habeas corpus for Rothschild would he asked for this morning, that he might give evidence in the hearing before Commissioner Alexander. Detectives last night had found William Muirhead, the treasurer of the company, who is under $1,000 ball in the Globe usury case, and is also wanted as a witness in the bankruptcy hearing on Saturday. Miss Carrie Adams, of No. 206 West Seventieth-st., who has been seen frequently in the company of Louis Rothschild. a brother of the ex-president, was served with a subpeens ordering her to appear before United States Commissioner Alexander A subpoena has also been issued for Mrs. David Rothschild Receiver McKeen of the Globe Security Company, who was appointed by the Federal Court. learned that Charles C. Black, who had been appointed receiver for the company by the NewJersey Chancery Court. had further qualified as receiver under a New-Jersey federal court commission. the office of neither receiver taking precedence and both applications having been made simultaneously. To confound the confusion Deputy Sheriff John J. Plunkett. who was nominally in charge, refused to leave the office, declaring that he must first have his "poundage" and that there was sufficient money in the office to pay his fee a few hundred dollars. This Receiver McKeen declined to pay. "I find that the trustees." Mr. McKeen told a Tribune reporter. "have transferred the securities to New-Jersey. and I am told on good authority that papers belonging to this office have been taken to that State I have opened several of the safes and found them-empty." Mr. Meyer. of the creditors' counsel. declared that an order had been signed by Justice Holt compelling the trustees to return the papers to the Nassau-st. office. Henry L. Lowds, one of the trustees, has already been subprened by the marshal, and John H. Russell, another trustee, is being sought. Mr. McKeen said that at Saturday's hearing he hoped by the evidence of employees to obtain the keys and combinations of safes he was unable to open. An order is also being sought authorizing Mr. McKeen to continue the business of the company in the Interests of the creditors and sue for loans due, etc. In his application Mr. McKeen states that notes are daily becoming due and must go to protest failing authorization to continue business The fact that Cuthbert the expert accountant who went over the books of Sully & Co., has charge of the accountants who are going over the Globe Security books, was considered part confirmation of the report that Rothschild had lost most of the money in cotton speculation. The only cash asset of the company that was known to exist was $2,840 in the Guardian Trust Company. Just before or immediately after the deputy sheriff took possession of the offices on Saturday, Mr. Muirhead, it is said. went to the trust company and drew out the entire deposit. United States Marshal Henkel has sought for Muirhead in vain. "Compared with the Globe Security Company." said Samuel J. Goldsmith, "the Miller syndicate pales into insignificance." Richard W. Jones, Jr., president of the Oriental Bank, at Broadway and John-st., and expresident of the defunct Seventh National Bank, declared that his institution had asked the Federal to withdraw its accounts because of the many out of town checks that it had deposited and against which it drew immediately after depositing. "Our only dealing with the Federal," said Mr. Jones, "was the carrying of its account. The Federal never owed the Oriental a dollar," Mr. Jones admitted that he had had personal dealings with David Rothschild "Did you ever recommend or indorse Mr. Rothschild?" he was asked. "I don't remember that I ever did," said Mr. Jones. Assistant District Attorney Kresel declared positively that others besides Rothschild had benefited through the Federal Bank's operations. He declined to mention any names He said he had learned that when the bank was being organized it employed ex-Alderman Louis Minski to solicit business and sell stock. According to the agreement he was to get one-half of 1 per cent on the deposits, which netted him about $3,000 a year, and a large percentage on the sale of stock. He had good reason to think it was 25 per cent. The grand jury would be asked to indict Rothschild on several counts of grand larceny. Every time Rothschild discounted an accommodation note he was guilty of grand larceny. On March a statement was issued which represented that the bank was in good condition. If it is learned that this statement was not in accordance with the facts some action would probably be taken against Rothschild on that account, probably in the form of an indictment alleging perjury. Mr. Kresel aserted that he had been informed that Rothschild would plead guilty. Several persons who had borrowed money from the company and do not read the newson fourth page
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Misuse of Big Amount. New York.-Charged with misappropriating $200,000 of the funds of the suspended Federal Bank, David R. Rothschild, former president of the institution, today was arraigned before a magistrate and held in $25,000 bail for examination April 20. Rothschild was taken back to the Tombs to await bail.
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Held For Examination. - - New York, April 19.-Charged with misappropriating $200,000 of the funds of the suspended Federal bank, David Rothschild, former president of the institution, Monday was held in $25,000 ball for examination April 20.
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Bank President Arraigned. New York, April 19.-Charged with misappropriating $200,000 of the funds of the suspended Federal bank, David Rothschild, former president of the institution, Monday was arraigned before a magistrate and held in $25,000 bail for examination April 20. Rothschild was taken back to the Tombs to await bail.
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New York Bank Suspends. New York, April - -The Federal bank, a state institution in this city, was closed during the day and officials of the state banking department are in charge. D. Rothschild is the president and its capital is $250,000. According to a recent statement the institution owed depositors $486,000.
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DEPOSITORS LOSE HALF. WRECK OF FEDERAL BANK. Application for Receiver To Be Made at Once. Albany, April 28 (Special).-The report of the bank examiner in the case of the Federal Bank of New-York City was filed late this afternoon by Charles T. Skinner, deputy superintendent of banks, in the Attorney General's office. Mr. Skinner had a conference with Attorney General Cunneen, who left the city this afternoon but will return to-morrow. Superintendent Kilburn is in Hot Springs, Ark., and will not return for some days. Despite the industriously circulated rumors that the bank is solvent and that depositors will receive their money in full, the Tribune correspondent can state on the best authority that the bank examiner's report will show that the bank is insolvent, and that depositors will not receive more than 50 per cent of their money at the outside. The report will recommend an immediate application to the Supreme Court for the appointment of a permanent receiver.
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FEDERAL BANK DEPOSITORS MEET. At a meeting of depositors of the Federal Bank last evening at No. 334 Grand-st., resolutions were passed that an appeal be made to Governor Odell on behalf of the poor East Side depositors to see that a "responsible and reputable receiver" be appointed. The depositors have to offer for the place the vice-president of the Jefferson Bank, at Canal and Forsyth sts., who will act without compensation, and promises to 00 his utmost to collect any assessments from the stockholders of the Federal Bank.
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IN TROUBLE. Receiver Appointed for Federal Bank at New York. New York, June 1.-On application of Attorney General Cunnen, Justice Greenbaum in the supreme court. today. appointed Leo Schelscinger as temporary receiver of the Federal Bank. Mr. Schelscinger will deposit a bond of $350,000. He is ordered to deposit all funds of the Federal Bank with the Mechanics' and Traders' Bank. According to a statement by Bank Examiner Judson filed on April 5, 1904, the assets of the Federal Bank were $346.775, and the liabilities $746,237, leaving a deficit of $339,462.
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BANK RECEIVER PERMANENT. Court Holds Opinion That Concern Is Insolvent Well Grounded. Justice Giegerich, in the Supreme Court yesterday, handed down a decision making the temporary appointment of the receiver for the Federal Bank of New-York permanent. When the application to make the receivership permanent was made it was contended by William Woods, the president of the concern, and Robert A. Doolittle, its cashier, that the good assets of the bank amounted to $503,207. or $6,970 over its liabilities to creditors, whereas the State Bank Examiner had estimated its liabilities at $496,239. Justice Giegerich says that he is satisfied from the papers submitted to him that the views of the president of the bank as to the value of the assets are altogether too optimistic, and that the opinion of the superintendent of banks and his agents that the bank is insolvent is conservative and well grounded.
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JUDGMENT AGAINST DAVID ROTHSCHILD Judgment for $218,757.06 was entered yesterday against David Rothschild, formerly president of the Federal Bank of New-York who is in Sing Sing. The judgment is In favor of Leo Schlesinger. as receiver of the Federal Bank, for money advanced by the bank to Rothschild in 1903 and 1904. It is on a report made by Henry W. Bookstaver, who was appointed referee on October 28. 1905, to take proof and ascertain the amount due the bank. Rothschild was served with the summons in the suit on September 15, 1905, when he was in the Tombs,
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RECEIVER SUING MISS PAGE. Woman Who Caused "Count" Sacky's Arrest Said to Owe Federal Bank 84,125. A petition in bankruptoy was filed yeaterday against Miss Clara E. Page of 244 West Fifty-sixth street, who recently had "Count" Aribert Sacky arrested on a charge of swindling her. Kneeland, La Fetra & Glaze, attorneys for Leo Schlessinger. receiver for the Federal Bank, are suing her for $4,125, balance due on a demand note which she made on January 25, 1904. The note was partially secured by a chattel mortgage on household furniture, which it is alleged, she has concealed. It is alleged that since April 1, while insolvent. she has transferred a portion of her property to several creditors and has concealed and removed part of her property. H. M. Stevenson was appointed rereiver in supplementary proceedings in the City Court.
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JUDGMENT FILED. Depositors and Creditors of Bank to Get Benefit. New York, July 21.-A judgment of $1,250,000 against the stockholders or the failed federal bank and in favor of the depositors and other creditors of the bank was filed in the county clerk's office today by Leo Schlesinger, receiver of the bank This sum represents the bank's total capitalization. The deficiency in the assets was $300,000 but the receiver declared that this would be fully made up, by collections made on doubtful assets and that the claims of the creditors will be paid in full.
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TO ASSESS STOCKHOLDERS FOR LOSSES OF BANK NEW YORK, July 23.-An omnibus judgment was entered in the county clerk's office on Saturday by attorneys for Leo Schlesinger, receiver of the Federal Bank, against 101 stockholders in the bank for their liability up to 100 per cent as stockholders. The total amount is $250,000 and $6,432 costs. Among them are David and Louis R. Rothschild, $85,000; Henry Fraser, William M. Woods and Robert A. Doolittle, $63,300; Lewis Haase, $10,000; Hyman Stoff, $5,000; Lizzie Carraway Nash, $5.000: Henry M. Goldfogle, $1,500, and James E. March, $500.
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RECEIVERS' NOTICES. FEDERAL BANK OF NEW YORK. LEO SCHLESINGER as Receiver of the Federal Bank of New York, plaintiff. against Samuel Bernstein and other stockholders thereof. defendants Notice pursuant to final decree entered In the above action on the 21st day of July, 1906, in the office of the Clerk of the County of New York. is hereby given to all creditors of the Federal Bank named In said decree and who have not presented their claims to said Receiver pursuant to notice heretofore given. to file with him at his place of transactInz business. at the office of his attorneys. KNEELAND. LAFETRA & GLAZE. No. 346 Broadway. Borough of Manhattan, City and State of New York on or before the 1st day of December, 1906. written application to participate In the avails of said action stating the amounts in which said bank was Indebted to them and their addresses respectively. Dated August 1st, 1906. LEO SCHLESINGER Permanent Receiver of Federal Bank of New York KNEELAND LAFETRA & GLAZE, Attorneys for Receiver. 346 Broadway. New York City.
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-MURPHY JUDGES, INC. A FEW CORPORATION LAWYERS ON "CLEAN BENCH" TICKET. M. Warley Platzek, Counsel for Beer Trust Firm, Which Hearst Papers Attacked -Erlanger for Theatrical Combine -Was a Friend of David Rothschild. Mr. Hearst and his newspapers have repeatedly referred to the judiciary ticket put by the Nominators as "a tioket made up entirely of corporation attorneys." He professes to favor a clean, upright bench entirely free from corporation control, but hehas remained silent about the charges brought in this line against some of the candidates running on the ticket which was the result of a bargain between himself and Charles F. Murphy. M. Warley Platzek, who was put on the ticket for Supreme Court Justice by order of Murphy, long has been engaged in defending corporations and he is himself the and director one at the president least, Fidelity Coal in and corporation Iron Comof Tennessee. He was active as counpany Govsel in the criminal proceedings of the ernment against the beef trust in Chicago and was connected in a legal way with the case of the Schwarzschild & Sulzberger Company. which finally entered a plea of guilty, upon which four of its officers were fined $25,000 by Judge Humphrey on Sentember 21 of last year. Mr. Hearst's newspapers have time and again scored the beef trust for its methods of doing business. Mr. Platzek also is said to be counsel for the United Cigar Stores, about whose business methods so many retail tobacco dealers complain. Another corporation lawyer on the Murphy-Hearst ticket is Mitchell L. Erlanger. He is a brother of the theatrical manager and is attorney for the theatrical trust, the Klaw & Erlanger Building and Construction Company and the New York Theatre Company. It was the theatrical trust that barred James Metcalfe, the dramatic critic, from its theatres. Erlanger was a friend of David Rothschild, who wrecked the Federal Bank and the Globe Security Company, in which many people on the East Side lost the savings of their lives. Erlanger was a depositor there personally and he also deposited in the bank some of the funds that he held as Sheriff. But he got the money out before the crash came. When Erlanger was running for Sheriff Rothschild sent out hundreds of personal letters begging his friends to help the Tammany candidate. These letters read: 'As my friend Mitchell L. Erlanger has been nominated by the Democratic party for Sheriff of the county of New York, and as I am greatly interested in the success of his candidacy as well as the success of the entire Democratic ticket, [should esteem it a personal favor if you would contribute something toward the expense of the campaign. "Please draw your check to the order of James W. Gerard, chairman finance com- will mittee, and mail the same to me and I personally attend to its delivery. "DAVID ROTHSCHILD." Erlanger has since denied that he was friend of Rothschild or that he ever got a a cent of campaign money from him. Another candidate on the Murphy-Hearst ticket who had close corporation connections is J. J. Brady. whose nomination was made as a favor to Louis F. Haffen, the Tammany boss of The Bronx. Brady, it is said, has had a finger in every real estate pie that has been cut in The Bronx in the He last ten years and be is now a rich man. is a director and an active worker in the Geiszler-Haa Realty Company. which has put through some big deals recently. He is also interested largely as a stockholder and director in the Sound Realty Company, the Manhattan Mortgage Company and the Bronx Borough Bank Charles L. Guy, another candidate on the Murphy Hearst ticket. is also a corporation man, being director in the Washington Heights Realty Company. And even John the Ford, one of the men who were put on adticket through the demand of Hearst, mitted yesterday that he was a corporation lawyer, too, being counsel for the Queen Accident and Guarantee Corporation of London, which does an accident, burglary and credit insurance business all over the world. He said he was sorry that he did not have more corporations to represent and that he would not draw the line at even the sugar trust. He hastened to add that he was no friend of the predatory corporations such the Ryan-Belmont merger, the beef as trust and the gas combine but said that he believed that corporations when properly conducted were good things.