New-York tribune. [volume], October 26, 1907, Page 8, Image 8

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2_
RECEIVERS APPOINTED.
ATTOBXEY GENERAL ACTS
Three for Knickerbocker Trust
Designated by Richmond Court.
appointment „f three receivers
{„,- tl r rrust Company by JttS
,i!k. In the Supreme Court, Richmond 1
Count: the sfrtllng an
. General Jackson, en
plication the reoelvers arere named,
Island court to avoid
;.ro;» r persons.
Mr. Jackson .-aid that he had become assured
that t: ts which were planning to reor
pany were not considerlngr the
asserted that a man whose
lad been suggested to him as a receiver
;■ Davles, <>f Davles. c^tone &. Auer
| r the Knickerbocker Trust
any, was the same person who tried to get
the bank wonnrnw in charge of the com
• ■ an illegal check for $1,(HK),OOO.
rdlng to the Attorney General,
• , the examiner after the company had
suspended business and tht Acting State Bu
: of Hunks had taken charge, and
: be* h. H<- wu« referred to the
I of Banks, who in turn
consulted Mr. Jackson.
The receivers appointed are Otto T. Ban
r.ard. president of the New York Trust Com
pany; Krr.st Thalmann". senior member of the
i.ankins firm at Ladenburg, Thalmann & Co.,
:m<l General Henry <•. Ide. the first Governor
.if the Philippine Islands under the American
regime. In appointing the receivers Justice
Clark granted an order to show cause why tho
receivers, should not be made permanent, this
order being returnable in the Richmond County
Court on November 2.
The bond of the receivers was fixe-l at ST>OO.OOO
each, and the Union Trust Company of New
York and the United States Trust Company of
New York were named as depositaries.
There v.oa much indignation expressed by tho
directors of the Knickerbocker Trust Company,
•who were in conference at the downtown branch
of the company. No. M Broadway, when the
news of Attorney General Jackson's action
reached them. It was plain that Mr. Jackson's
move in applying for receivers came as a real
surprise to them, and criticisms of him were
uttered in unmistakable terms.
-We are simply amazed at the news from
Staten Island," Bald one of the directors yes
terday morning, "and you may depend upon it
that those in charge of this company will be
on hand on November '1 to show cause why the
receivership should not be made permanent. At
torney General Jackson's action is a complete
surprise to us. We were not even so much as
consulted as to the desirability of such action."
This official's statement that the legality of
the Attorney General's action in applying for
the receivers would be looked Into and con
tested. If good grounds for doing so were dis
covered, was confirmed by several of his col
leagues. One of them said: "We are at a loss
to understand why the Attorney General did
not bring his action in this county. We do not
know why the application was presented to Jus
tice Clark, In Richmond County. Perhaps Mr.
Jackson will be able to explain that."
President Hlggins, of the trust company,
asked if any Immediate action would be taken,
replied
"I do not know. It 1b a possibility that we
may apjOy for an injunction, but Just what
course will be decided upon will not be known
untii to-morrow morning."
But as if the idea of an Injunction had been
abandoned, one of the directors said last nighti
"The directors had decided to recommend the
appointment of Herbert Satterlee. John Qulnn,
Valentine P. Snyder. G. Louis Botesevaln and
an J. O'Brien. This ticket speaks for U-
Brif. ar.d when we learned that recovers had
already been chosen by the Attorney General
we were Indignant. There was some talk of
legal action, but I believe that the appointees
are pood men and will be entirely conscientious
in their management of the affairs of the com
pany. Under the circumstances we could not
anything by obtaining a change of receiv
ers."
The directors arera particularly resentful In
regard to the receivership because of the action
«.f thp Acting Btate Superintendent of Banks
bust Tuesday morning in placing a notice at the
• ntrance of each of the various branches of the
institution, stating that in hie belief the trust
cini'ar.-- was In a solvent condition,
Mr. PWnrwr. In his affidavit, which Is Incor
porated into the petition for the receivers, says
that in his belief the Knickerbocker Trust Com
jiany was In an unsound condition last Tu<-~diiy,
r :."_'. when he was called in after the
,r< inent of the resignation of President
Charlrs T. Parney. Mr. Skinner said that when
ted a-s.-iptance failed to come on the
next day, Wednesday, and the directors, finding;
th.it th-re were not sufficient funds on hand, de
to suspend payments, he came to the con
n that the institution was unable to con
tinue bassneaa. Mr. Skinner says he notified the
Attorney General of the condition of the trust
my, and ends his affidavit with this state
ssent:
from my own examination that the
• ompany is unsafe and unable to pay depositors
and that it is necessary that Its affairs should
b^administered at the discretion of the court.
Acting on the report of Mr. Skinner, Attor
ney Genera! Jackson says in his application he
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RECEIVERS FOR THE KNICKERBOCKER TRUST COMPANY.
OTTO T. BANNARD.
decided to ask for receivers. In his affidavit
he says it Is his belief that the Knickerbocker
Trust Company has upwards of $60,000,000 de
posits belonging to many thousands of deposit
ors, and adds:
T'nless the court grants an injunction re
straining the company and its officers from
doing business and restraining th.< depositors
nnd creditors from instituting any action for
the enforcement of claims, a multiplicity of
actions will be brought, the assets will be mis
appropriated and wasted and inequality and in-
Justlce will result to creditors and depositors.
The Attorney General goes on to «•>' that the
bank examiner's report has satisfied him that
It Is "unpafe and inexpedient f^r this company
to continue doing business, as It has not miUH
cient funds to make payment promptly and In
full." For these reasons he asked for the an
nulment of the charter of the company and the
distribution of Its property according to the
Judgment of the court.
When Attorney General Jackson was seen at
his office yesterday aft< moon nnd Informed of
the criticisms of his action, be said:
"It was only after a careful consideration nnd
consultation with prominent bankers th: t 1 se
lected Messrs, Bannard. Ide and Thalmann ;i*
receivers. If anybody can put tho Knicker
bocker Trust Company back on a safe fo
they can. There Ih, I Insist, no question of
politics either In my application for receivers
or my selection of men, which has been ap
proved by the courts.
"If anybody is looking for motives In n
tion," continued the Attorney General, "it may
be well for him to consider the motive of the
mnn who made n peated endeavors to get a
questionable paper from the Knickerbocker
Trust Company after Mr. Skinner (the Acting
Superintendent of Banks) had taken charge of
its affairs.
"Thif< man." said Mr. Jackson, "went to th-<
examiner of banks v,ho had been placed In
charge and asked for a certain paper. The ex
aminer, however, wns taking no chances, and
consulted the Acting Superintendent of Hanks
before takine action. He, in turn, consulted
me, and I advised him not to grant the r.'-iu^t.
"That paper was an Illegal check for $1,000,
000. The mian who made that request It th«
man whose name was suggested to me as tho
third receiver of the ICnickerbocke.r Trust Com
pany, by Interests identified with its past man
agement."
The Attorney flenernl steadfastly declined to
make public the name of the Individual who
had tried to get possession of th.> Illegal $1,000,
000 check, but Raid he would do no if the di
rectors of the institution gave him any troubln.
When npked about the criticisms of the di
rectors as to the alleged Illegality of "his action
In applying to the court for receivers without
giving notice of hts Intention, Mr. Jackson said:
"There is nothing In the, law that compels mo
to consult the directors of an institution before
1 apply for a receivership or that cays I must
notify them of Buch Intention.
"As to my reasons in going to Richmond
County to apply for the receivers, I have the
right to make, application in any county In the
state where a Justice of the Bupreme < "ourt la
sitting. I had a special reason, bowev< r. In
avoiding the courts of New York County In
this Instance, and when it appeared plain to
me that the, persons who were planning to re
organize the company were, not consulting tho
Interests of all the depositors I determined to
make my application to a court where I was
reasonably atssurod beforehand that a proper
suggestion as to receivers would be enter
tained."
The dlrebtors of the company were Just fin
ishing their deliberations, which had lasted all
the afternoon, when they were- told of the Attor
ney General's reply to the criticism on him
self. There was unother hurried consultation,
after which several of the more prominent of
ficials expressed their feelings on the, BUbje t
of the illegal $1,000,000 check.
"This Ih outrageous," said A. Foster Hl^ginß,
•who succeeded Mr. Barney as president of
the Knickerbocker Trust Company. "It is noth
ing more nor less than a downright lie. No
one, bo far as we know, hrm tried to extrnet any
paper from the custody of the company." This
was assented to by I. Townsend Burden, ono
of the directors, who had b<-en present ;it th<
conference.
When informed that Julien T. Davles, of the
law firm of Davies, Btone & Auerbach, counsel
for the Knickerbocker Trust Company, was the
one who. Attorney General Jackson said, had
suggested the appointment as the third re
ceiver of the man who had tried to get the
check. Mr. Hlggins eald that, so far us he
knew. Mr. Auerbach had had no consultation
with Mr. Jackson In regard to a possible re
ceivership. He did not say that Mr. Davles
had had no such consultation. Mr. Auerbach
Is a member of the board of directors of ihe
Knickerbocker Trust Company.
Julien T. Davles, when informed of Mr. Jack
son's statement, made a call upon, the Attorney
General. After the consultation he said that
Mr. Jackson had denied making the statement
In the afternoon. The Attorney General himself
refused to discuss the subject when seen at the.
Hotel Manhattan last night.
Mr. Davles said, after talking with Mr. Jack
son: "This lc the first I have known of any
questionable paper or of any man having made
application for such to the bank examiner or
tho Acting Superintendent of Banks. If I dl<i
huggtst the name of a man who had done sock
a thing, I did so not knowing anything about
the real situation."
The directors of the Knickerbocker Trust
j Company, though they did not pretend to con
j ceal their disgust at Attorney General Jackson's
I action In applying for receivers, had no criti
| cism to make of the persona! fitness of the three
i appointees of the court. No better selections
| could have been made, it was asserted, but the
| directors were of the opinion that the action of
: Mr. Jackson would be contested In court on No
vember 2.
At the meeting a committee of seven members
of the board was appointed to take Immediate
; measures looking to .a resumption of business
i by the company. The committee is composed
I of Frederick G. Bourne, chairman; A. Foster
. Hlggins, G. Louis Bois3evain, Moses Taylor,
I William A. Tucker, Charles P. Perm and Leo
j pold Wallach. The committee met yesterday
I afternoon and instructed counsel for the com-
I pany to prepare a draft of a deposit agreement
] for depositors and stockholders. This agreement
; will be presented at a meeting of the commit
'■ tee this morning. It was also decided to an
nounce this decision In the x newspapers this
morning, but the tails of the plan, it was .said,
were not yet in a condition to be made public.
m:\v-york daily tribune, saiikdw. OCTOBER gfl. innr
UENKT C. IDE.
All of the tellers and other clerical employes
of the Knickerbocker Trust Company were dis
missed last evening. Their places will be filled
to-day by men employed by the receivers or by
the banking superintendent of the state, who
will designate a number of the men who have
been employed in the bank to work as exam
iners in other institutions under his direction.
An ez-parte injunction was granted to Culler.
Van Rensselaer Cogswell yesterday by Justi.v.
McCall, in the Supreme Court, restraining the
Knickerbocker Trust Company from in any
way disposing of a certain promissory note
made and executed by him to the company. The
note, which is dated August 28, 1907, and was
due yesterday, is for $2,150 and Interest Tin;
company Is also enjoined from disposing of 1.500
shares of the stock of the Guanajuato Consoli
dated Mining and Milling Company and $'_',<»«»o
par value of the Republic Minos Company,
Limited, 7 per cent gold debenture bonds, given
as collateral for the note.
THE THREE RECEIVERS.
H . • -v c Ide v..,s born In Barnet, Vt. In lsii.
He waa gradua • d from Dartmouth College to his
twenty-second year, end after Bervlng for Borne
time aa principal of the High School of St. Johns,
bury. vt.. where he BtiU has „ home, ho waa ad
mitted to the bar. A member of the Vermont Btate
Senate from l-- 1 to 18S and president of the Re
publican State Convention In 1884, he waa » dele
to the National RepußUcan Convention in
1888
■ y. ara lat< r Mr. !•;•• w ih ' United
tji.tt. - Commissioner to Samoa, and in 1893 waa
blef justice of the Islands under th.> Joint
•in. nt of England, Germany and the United
Btatea, serving In that capacity until lv:i;.l v :i;. In 1300
be Brent to the Phili] •■ : ■ • ' ° r th "
Taft tTommiaaion, and was ai the Depart
ment of Ju '• - Reorganising the
Philippine Treaaury and eh inglng t; •
tern from a i-ihrr t.. a »■>•].! baala without Injury
Ineas, he also organised the entire |
Bystem, and is tl ol • Philippine Civil
Code.
Mr. Ide t- emmls
■ r early In l>o6, to take effect « n June I,
hut when Governor Liuke i:. Wright waa made
the first Ambassador ;■• Japan the hitter part of
January of that year, Mr. Ide was appoli I
tak" hi* place, President R<
Taft feeling that Mb aervl ■• s merited the honor of
having for a time at least ri ••; -l the actual rank
of Governor < ;<■!.••: d of t; •■ I
Mr. i<!--'s daughter, Mlaa Ann!.' Ide, waa mar
ried to W. Bourke Cockran in November "f 1;>m?
rear, that having been the third wedd i
from i i Taft party to the Philippine! In
ISO 6.
Krnst Thalmnnn wan bom In Mannheim, Germany,
tifty-six rears ajro He came to th« L'nlt«'d St'it* 1 *
In 18C8 oixl worked with Greenbaum Bros .v Co.
for sir years. After apen Una. a year In Germany
be returned to New York and formed the banking
houso of LJmburger & Tbalmann. In 1880 th»
firm's name «bh chongi-d to Ladenburg, Thalroann
& Co., under which name It him dono business ever
since. Since MM it has been the, ugi-nt In the
United Htat-H tor 3. Bleichroder & Co.. Berlin.
In addition to being- the senior member of this
firm, Mr. Thalmann is presldi-nt and director of
the United Railways Investment Company ana
vice-president and director of the Birmingham A
Atlantic Railroad and the United States and l!:tyti
Telegraph and Cable Company. He Is a trusts of
tho Aachen and Munich Fire Insurance Company,
the Bavarian Mortgage and Exchange Bank or
Munich, the Frankfort Transport. Ula&a nd Ac
cident Insurance Company, the Munich Reinsur
ance Company and the New York Trunt Company.
He la also a director of tho Alliance Realty Com
pany, the Amerika Bank, Berlin; the Century
liealty Company, the De La Vergno Machine Com
pany, th» Lawyers' Mortgage Company, the Mort
gage-Bond Company of New York, the Omaha
Water Company, the Seaboard Air Lino Railway
and the Van Norden Trust < Company.
Otto T. Bannard waa born In Brooklyn In 18M
He was graduated from Yale In 1876 and from the.
Columbia University Law School two yeara later.
After practising law for several rears ho became
president of the Dolphin Jute Mills, of Paterson,
with olllces In this city. In IS "3 he was minit!
president of the Continental Trust Company. At
present he in president of the New York Tnibt
Company.
Mr. Bannard, iv addition to being secretary and
a tru«to»; oi the American Pai ■•■'<> tr<' Company,
Ik a director of the following corporations: The
]tuHin«^.s Addresa Company, tho Eierring-Hall-
Marvln Bafo Company, the Mahotiing <fc X!.
Hallway and Light Company, the Metropolitan
Water Company of Kansas city. thr> New Hamp
shire BSsct'ic Railways, the Niagara Fire iiusur
ance Company, tt." Becuritles Company and the
y/ale Building Company.
About eighteen months ago Mr. Bannard w.ih ap
pointed receiver for tru Merchants' Trust Com
pany. It in said that it was his Hksll in handling
this particular pioco of work which commended
htm to the attention of Attorney General Jackson,
During Mayor Strong* a adminlatratlon Mr. i<;i.i
nard was a r.-.emiier of thr? Board of Education of
tho city He Ik tho treasurer and a trustee of the
Provident Loan society of New York, and a mem
ber of the University, T'nion, Century, Tale, Re
publican and Midday clubs).
KNICKERBOCKER DEPOSITORS MEET.
The Knickerbocker Trust Company Depositors'
Association was organised at a meeting of Harli m
property owners In the utn Ward Bank Building,
m Lexington avenue and li^th street, In t night
The association Immediate ly elected officers, and
annoiincoil that It would hold a masa meeting In
the Harlem Casino on November *. when all those
int«-r'*HtH«l in the trust company's aif.iirH will be
asked to urge the Investigation of tin- ntat«- hank
:iiK ofliciala and tri^ demand of i permanent re
ceiver tor the Knlckerbocknr Trust Company, Dr.
Abraham Korn wan elected president and Dr. John
p. N'aKi p treasurer. io solutions were also adopted
to appoint a committee to w ilt <m Supreme Court
Justice Clarke on November 2 laid ask for the re
(■.iv.tr for tin- truKt company.
NEW ORLEANS LABORERS AGAIN QUIT.
New Orleans, Oct. £"• Because th<- Illinois < - e:i
tmi Railroad freight handlers could not come to
an m.l l'tiiimnt as to tlie time period In their con
tract tho t'-n thousand or more freight handlers,
cotton screw men, longshoremen and other laborers
employed on the riverfront here went on j-tnk."
again to-day
AM the men who walked out to-day had been
on a strike for several weeks, but last nlK"t
agreed to go back to work to-day, pending an ad
justment of the differences between them and
their employers. To-day the Illinois Central freight
handlers refused to sign a three-year contract
THAW DEFAULT TO BE OPENED.
Chief Justice O'Dwyer of the City Court has
granted the application of llartrldge & Pea body,
counsel for Harry K. Thaw and his mother, Mrs.
Mary Thaw, to open the default In the action
brought by Dr. Charles L. Dana to recover 11,800
for professional services to young Thaw in the
Tombs.
SAYS COURT CLERK TRIED EXTORTION.
Tn the Wost Side police court yesterday Serjeant
Casey, head of the motorcycle squad, charged one
of the court clerks, Thomas l>- church, with try
lag to "shake down" one of his prisoners, James
M. Carey, of No, 77 West loist street. Magistrate
Herrman ciismi.^.d the charge, but Casey declared
he wuuJil ulK* ttxm case to Urn Police Commibsiouer.
LONG RM IS CHECKED.
Trust Company of America and Lin
coln Trust Pan All Day.
The run nif the offices of the Trust Company of
America, at No. 3G Broadway, und on the Colonial
branch, at Broadway and Ann street, waa checked
yesterday, and when the doors w< re closed at I
o'clock there were only a few persons left of the
long waiting lines which bad besieged the com
pany's offices for three daya
Th.- run on the main office of the Lincoln Trust
Company, at No. 809 Fifth avenue, which began
on Thursday, continued yesterday, however, the
company pacing as rapidly v possible all who pre
sented claims. Oscar Hammersteln, who carries >i
inrre balance at th.> Institution, sent word early In
the day that he bad $.">o.wo In cash wnicb he iras
willlnii to deposit if the company wished It to aid
In breaking the run. The offer was accepted, and
the money waa sent to the bank by automobile.
Th>- officers announced after the close of business
at ?, o'clock that the company was perfectly solvent.
that its iitftiirs were in excellent condition and that
the doors would be open for business as usual "t
W o'clock this morning.
At ;t late hour lust night only about twnty-tlve
depositors or agents of depositors had formed a
line tn front o? the main ottlce of the Trust Com
pany of America, They wore numbers In their
h.-.ts. a plan adopted after one or two disputes as
to precedence. At the Colonial branch one younsj
clerk formed a line all by himself at 9 o'clock, but
he was relieved a little while later and the line
disbanded. There were no depositors waiting at
the downtown branch of the Lincoln Trust Com
pany, ut Uspenard street and Broadway.
There waH a decided decrease In the number of
(1. poaitors In line yesterday at both offlcs of the
Trust Company of America, and the number stead
ily grew smaller us the day paused. Many of
those in the lines were tho messengers of !un?«
business houses, who nlwnys visit tho hank on
Friday tr> draw funds for th» weekly payroll
.Many of the depositors were paid in gold coin
owing to the. scarcity of small bills. One of the
early features of the day wuh an Individual deposit
„{• H.000.00Q in currency made by some one whOSS
name was refused. The crowds of sightseers who
were attracted by the run on the first two days
were not so numerous yesterday, and Wall Btieet
between Broad and William presented its usual ap
pearance.
ERNST THALMANN,
Oaklelgh Thome, president of the, Trust Com
pany of America. Bald that more than half of the
money withdrawn yesterday would in the ordi
nary course of business have been taken out for
payroll purposes. Somewhat less than $2.0C0.(»'0
was paid out. against over no.osa.oM on each of
the first two days of the run. while th* deposits
yesterday amounted to more than |1,M»,0BO.
At the Colonial branch the line was much smaller
than on the first two days of the run. and by 3
o'clock it had been reduced to a mere handful.
The depositors were paid rapidly, and no on«
H»'.-rr.ril to be worried about getting nil or her
money,
James W. Tappin, vice-president of the Trust
Company of America, said after the dose of busl
nt-ss that. although ho would not recommend ■ »eh
heroic treatment as a rule, he thought the ordeal
would prove to have been a blessing In disguise, na
it would surely tend to Increase the confidence of
the public in the bank. He added;
The fact that wo have weathered such a storm
Is Relent to show the enormous strength and
solidity of this Institution in a way that nothing
else could have done. of course, we will lose a ■• ■•■"
depositors, but In many rnfus. especially our larg«r
depositors, the result will be an In rease In confl
<i--iic>'. Already Boma of the firms that have tli<»
larK' ft accounts with us have arsured u» that their
n »ney will remain In our keeping. One. firm, which
sent in a check against us to day for 000.010, ro
cull-.l th* . >eck ••' -re It was paid and vent us
word that they would not draw on U*. This was
One Of the blKKest concerns In New York.
! feel that It Is a Kroat blessing that we have
pulled through without scathe for ha l we gone
under If would have been the signal for a general
n:umj>.-de that would h;iv«* ended In ; ast.->r to a
v-rent number of concerns thut will now escape
Public confidence in now twinging back to the
normal, and I se«s no further cauae for alarm. It
has b'-'-n a t'TTlhl.- ordinl far all of us, »>ut our
confidence lius nw»-r been shaken. I do not an
til !;> itfl much of a run morrow
At a meeting of tho board ol directors of lha
Ijlnroln Trukt Company yesterday afternoon Louis
.^if-rn was autliorlie.l to make the following
statement:
' th'- Lincoln Trusi Company are
. >. .«. fin** that the company is In
demand thai maj »»• made upon
it and • • ''• ■ stronger position
• ■ ■ . k Furthermore,
[a has been l"«s day >>>• dity.
B. Aynuir Baada, a director, said the bank waa In
. bad plenty of cash on hand
to [■ay .--.try one. Arthur Iseltn another dl
' it. ■:•■•■• t. Bradlsh Johnson, who
■ «.iid t! lit ths dtreeten ha
a Tr.>iiuiK. and that thero waa not the
• d M that svery depositor who wantod
t:is mom « ■'. ! got it.
i ; .-; Leonard, ■ bI ; " ' tnk •x ! '■> ■'■ • • who vis
ited it;-- ofllce of the Uneotai Trtist Compai
terday morning, but did not remain long, h.iM that
mpany waa < rtainly sohrsnt. Tfie runs at
aa :,t Broadway and Usponard streel
trod were not serious.
main ofßce •» crowd of depositors gathered
last night, with the evident Intention of w Utlng
in line all night Boms brougbl campstoola to
tiiHk-' the long vigil ■ ■ >»*. while
}.'ix.-s Into u«<« us wt..ols
Louis Martin, the proprietor of th* Cafe Martin.
Which adjoins tho main oAoas of the Lincoln Trust
Company, si No, 3* Fifth avenuo, announced ln-'t
it ha bad deposited feOM yesterday in th
bank and would dsposlt |8,008 more to-day. H.
liiiiKh*"! lit the Idea Of a run on th« company.
ROBBERS HOLD UP CHICAGO SALOON.
Chicago, < >'-t. 85.- -Two young men, armed nnd
innsked. robbed County CommlssloosT Mas
Blumenfeld nnd fourteen other patroDS of WUl
kam BelfHed's saloon, In Blue Island avenue, hint
nit'ht of money and valuables to tho amount of
11,000, und teat S.dfrled Into Insensibility with
their revolvers when hn tried to stop them. They
took from Mr. Hlumenfeld a diamond Htudd' d
gold Rtar and " large diamond stud, both pres
ents from politic-. u admirers. Most of the men
w< r« at the imr. and tns few seated at tables
Were ordered to stand up with th«i others and
place their backs to the wall to he searched. Th«
robbers escaped
SEES GREAT CANADIAN FUTTTRE.
Kansas City, Ma, Oct -■ Robert F Sutherland,
Speaker of the Canadian House of Commons, In
an address >to night before the Knife und Fork ciuii
predicted thai Canada would some day have a
Jl foot channel from tho upper lakes to th<- tide
water and that then her ports would be the busiest
of any In North America.
"People now alive may llv< to see the minimum
depth made 21 feet." *n!d Mr. Suiiierl.mil. "New
fork Btate is about to spend |M0,000,0N in deepening
the Brie canal to U feet Even then It will be two
feet shallower than the waterway it is Intended t<>
rival; siud While In the one a vessel will tie almost
in straitened waters, in the other, with th.r ,x
ceptlOD of n few places, a ship will have ample
room for full steam ahead, And, as i have said,
Canadians are looking forward to the Li-foot chan
nel of the fut hi) ."
BURNETT JURY UNABLE TO AGREE.
The jury In the Burnett dtvon ase, afler llHt.-n-
Ing to the evidence for nine days, told Justice
Qlegerlch, In the Supreme court, yesterday after
noon, that It COUld not aKM-e on a verdict. The
jury retired at 4 : i r. o'clock, and at >:«S o'clock an
nounced Its dlaagreement and was discharged.
Norman Taui.tr. [he eighth Juror, who was ex
cused by consent last Tuesday, waa called before
Justice Qlegerlch to give an explanation of hta
conduct, it waa learned that the lurot had been
excused for trying to talk to Arthur K. win;?.
counsel for the plaintiff, when he met him al the
Hotel Hai-Ihol.il on Monday nlfilit. Justice Olege
rich lectured the juror and allowed him to k<>-
Members New York and Chicago Stock tvehanges.
We recommend at this time the cash purchase of many railroad and
ndustrial stocks for investment. A list of these will be furnished upon
application.
25 PINE ST.. THE ROOKERY.
JNew YorS* Chicago
Harris, Winthrop & Co.
"Come
if you can —
Telephone '
if you can't"
says a sale advertise
ment of a department
store.
Have you tried tele
phone shopping? It
is very convenient.
MEW YORK TELEPHOME CO.
tS Day Sir mot
CABINET TALKS OF SAW.
Either Two or Three New Battle
ships Probably To Be Asked.
Washington, Oct. 25.— The first formal meeting of
President Roosevelt's Cabinet since the early part
Of June took place to-day. Those present were Sec
retary Root, Postmaster General Meyer, Secretary
Oiutield. Attorney C.eii-ral Honaparte. Secretary
Metcalf and Secretary Wilson. i>tsc.ussion of naval
matters took up a considerable part of ths asset
imr.
Secretary M. t- alf ha? just completed ths c .mplia
tl,,ii of the estimates for the BBatateaaace of the
naval establishment. As thSSS show a great In
ns compared with the current Aseal y«-ar.
thereby promising to cause much debats la ''on-
Xr f *.s at the. approaching session, the President and
the Secretary of the Navy are gtvtng their most
earnest attention to this.
The Secretary advancer! a proposition to Increase
l,y Ji.'WO.Om) the PtandlnK appropriation for the pay
ment of etdtste.i men m the navy. According to
his estimate, this increase would ndmlt of the re
cruiting of about three thills— l bluejackets in
addition to the present force. Th« proposition was
received with favor, and will h« included in the
estimates to be sussalllafl to Oonajiesa.
Another matter not entirely naval in character.
t>ut deemed worthy of support by Secretary Met
calf because <»f lta Influen. .■ upoa the character
of naval vaseeU to be constructed m the future,
was the recommendation of the Isthmian Cin.il
CoaamfSSion, broUKht to Washington a few daj S
ago by Civil Bngsssei Rsessau, looking to the
wtdenlbg of the locks ai ths Panama Canal Bosss
naval ofßcvrs, whose views wets rtnactad I
retary Met. alf. held that a width of one hundred
feet in ths locks would be quite yutlt -lent to rant
all naval needs within the next half century, but
it appeared that another element believes th>- \o- ks
would prove too narrow in the course of ten yearat
The President decided to await -i detailed reaorl
from the Canal Comnusston uion this bnportnnt
Mtlhject.
Becretary Metcalf also has before htm the r.-p->rr
of the Naval General Board, headed by Admiral
U.-wey. a\H<r\ the new construction required to
meet the plans of the beard, and this was touched
upoa taddem to the construction of the width
of the canal locks. Not only ths Naval General
Hoard, hut the Naval Board on Construction.
beaded t>y Admiral Convene, the chief naval con
r, and the Secretary of the Navy htmaalf,
must express tn- ir views in formal repeats spear
this matter of new construction before ths Pros*.
dent Will have In hard all of the material upoa
which to base his own rscemmandatlons to Con
gress.
it Is pointed out that by reason of the fact that
he last year expressed the opinion that one new
ship would bo all that should necessarily be au
thorized at tMi Congress. th« President hus some
what embarrassed himself, but as several of the
hattlrshlpa whtoh were last year supposed to be
perfectly serviceable have since rather unexpectedly
been shown to be of obsolete type. It Is not appre
bended that the Presldani will have any difficulty
in explnlnlng to Congress the necessity for amend
ing the original estimate, for It is now quite certain
that no less than two. and possibly three, battle
ships of the first order will be recommended In
t',-- estimates.
CENTRAL ADMITS DISCRIMINATION.
XTpstate Public Service Commission Hears
Spencer Kellogg's Charge.
Buffalo, l ■ t '-• The rhar
Kellogg against the S»m Tork Central as to .lis
rriminatlon in frelghl rat-s was heard by th.»
apatate Pubttc Service Conusxßston yesterday. The
New y<tW Central, through its attorney. William B.
Hoyt, admitted dlstiliiilnalloii agamsi the Kellogg
elevators.
"This as.- is now of national Importance.- s.iid
Chairman Btwena The question hi whether under
certain conditions s eallroad is Justoed m dnv
rrlmlnartag against nn> shtppar.**
Th^ status of the case at present hi this: Foot
y. nrs uk.> the Spencer Kellogg Company employed
as agents Knlghl A McDongall, gran brokers, of
Chicago. The Kellogg -ompany agreed aa ray ti...
Chicago brokers one-quarter of a cent a bushel rot
da they procured for the k-'Hokit elevators.
Knighi A McDougall in turn gave rebates to shbD
b Induce them to ship through the Keflsgg
elevatora The Chicago brokers were brought be
fore a hr.-irlng at Washington in MM for this
method «.f business, but have been continuing on
th» asms basal atnoe that time. The Kettogg ele
vators, which hay« 5 per cent of the SBSSnsjS reOSS
of all ' :tj eiwvators. are dossg aboul y< pet cent
of th.- • !• ' at»r bUStneSS of the port.
Th. New York Central asserts that this rebate
system, us they term the transactions of the Spen
cer Kellogg Company, Is Usga] and criminal. :in<i
that they have the rik'ht to discriminate SJBBkBBI a
firm that Is doing this sort o.* business.
The Six-n.-er K.-llogg Company puts In b countSV
assertion that, stnee the firm Is not a comnu-n car
rier, It has the right ti> g»M business tn tills way.
■We admit the prasent dlscrlmlruitlon.' said .Mr.
Jloyt. •t.ut if Mr * r * >w> gg will K lv.» up his prac
tice in galling business we win immediately nirt
a tariff of freight rates so that the Kellogg elevators
will get the same rates an the other elevators."
METZ GETS ETTRICK MILLS
Contest for Control Which Promised Suit
Settled Out of Court.
I By Telegraph to The Tribune. 1
Worcester* Mass.. Oct." 2T>.— A serious breach be
tween Herman A. Metx, Controller of Hew York
City, md Ilrnry l" Granger, owners of the Ettrlck
Mills, in Auburn, near here, which threatened a
lively lawsuit, was settled here to-day by Mr. Nets
taking over all of Mr. Granger's Interests and full
control of the business, which Is the manufacture
of Wilton and Brussels carpets.
Mr. Granger had legal papers prepared in the
t-h;ipe of bills in nutty against M -tz. charging
him with attempting to freeze him out of the cor
poration Proceedings hud gone so far that an
attachment of personal property had been made in
Granger'a inter. -sis. The attachments prepared
aggregated $ir.o.<»V>. All proceedings will be dropped.
m
SCHOOL AFIRE; DRILL SAVES PANIC.
Forty seconds were required to empty the Olen
Cove (Ix>ng Island) school yesterday morning after
lire had been discovered In the cellar. The seven
hundred pupils, responding to the Bra drill, did
not even know there was a fere until they were
safely in the street. Mother* ran to the school
house upon healing the clang of tire engine bells.
and they were loud In their praise of lb< teachers
and the tire drill.
Collars — our method of make
makes it Lock Front; unless so
stamped it is not Lock Front.
EARL A WILSOX.
Totoket is one.
ATTEMPT BOLD ROBBERY,
Thieves Try to Steal $5,000 in Phila
delphia Sub-Treasury.
Philadelphia, Oct. 23.— One of the boldest at.
tempts at robbery In this city In a long thns
took place to-day, when two men tried to get
away with $5,000 they had seized from a bank
runner in the United States Sub-Treasury. Both
were arrested and all the money was recovered
The two men had been hanging around the Sub-
Treasury for several days and were beta
watched by private bank detectives and Sub-
Treasury watchmen. About 11 o'clock this
morning P. J. Cronln. a runner for the Frank
lin National Bank, received several large bun
dles of money from a paying teller In the Sub-
Treasury. He placed $4,000 in a satchel and
walked to a bench near by with the remainder,
amounting to $.\O«>. In $100 bills. He laid the
money on the bench. Intending to open the
satchel and place It with the other money. At
the same moment one of the men being; watched
and who was standing In front of one of the
Sub-Tr«-aeury watchmen raised a newspaper
as If he were looking for something and ob
structed the view of the watchmen. Then the
other grabbed the $5,000 lying on the bench
and started out of th? front door. The bank
runner Instantly gave chase, raising an a.'arm.
The runner was close to the thief when the
man who held th* newspaper tripped him and
tried to escape. He had gone only a few feet,
however, when the watchman captured him.
Others In the Sub-Treasury started after the
man with the money. Getting safety out of
the building, the robber started west on Chest
nut street, wrapping the $."•.•»»» In a news
paper as he ran. His pursuers gained on him,
and. seeing that he could not get away, he threw
the money Into a hole In the sidewalk In front
of a building under construction. He- was capt
ured half a block from the Sub-Treasury. ■ Both
men were taken to the Central police station,
at City Hall. Th* gave their names as C. D.
Bates and Charles Wntk!r,«. and «aH they lived
In New York. Bates, who seized the money,
carried a loaded revolver.
MOKE BRIDGE ORDERS
Companies Get Instructions to Bet'
ter Conditions.
Th» Public S<tv!c#> Commission adopted yester
day several orders to compel better railroad ser
vlc« In Brooklyn. Th» Bronx and Stat-n Island,
and disposed of a multitude of email*'- affairs,
One order, directed to th*» Brooklyn Union Ele
vat».l an.l th* Brooklyn Heights Railroad com
panies, was to Bhow cause why they should net
employ a superintendent of terminals to take
charge of trains on the Brooklyn Bridge. No §ucl»
official now Is employed, and th*> commission's ex
perts believe much of the bridge congestion Is da«
to a lack of efficient supervision.
Another order required the Brooklyn Union to
explain why its trains should not be kept at th»
Brooklyn end of the bridge on Saturday afternoons
until the. Manhattan terminal was ready for them,
instead of being shunted Into an already crowded
terminal. A ten-day order was passed directing
11 .> Brooklyn company to show why It should not
stop lt« cars in Flatbush avenue between Cor
telyou Road and Dorchester and Clarendon roads.
That block Is a long one, and residents want cars
to stop tn Om middle of Mm block.
An order to the Richmond Light and Power Com
pany compels It to stop all Ma cars northbound b*
for* reaching a certain curve at York and Rich
mond avenues, where two fatal accidents hay- oc
curred recently! The Union Railway Company. "C
The Bronx, was ordered SB send Its WilltamsbrWe*
cars to the city line Instead of stopping at 534
street and another order compelling the Inter
change of transfers between Its caw and those or
Urn Slew Mochella express service was issued.
Preliminary plaM for the new West Farms sta
tion of th« interborouKh were approved, and MM
chl-f engineer was ordered M prepare permanent
plans. Property owners along Canal street wrote
that they desired the demolition of their property
postponed until May 1. This would delay great*
th. completion of the Brooklyn subway oop and
the commission directed that the Controller ••■»■
formed that this work was Imperative and th«
property needed at once.
BEGIN TEAKING DOWN TRAIN SHID.
Engineers Have Big Job at Grand Central
Station.
The work of tearing down the old train i shed l of
Iks Grand Central Station, erected In IS7I. «£
begin thus morning. In a few weeks the who*
structure is expected to be down, but there ■ ™
be no interruption of traffic while the work IS
going on. This feature of the plans bad presented
great difficulties for the shed I- a massive struct
ure of steel girders, with a number of gn.at arche
and the railroad engineers have been spend!** a
lot of time tn trying to figure out just how th,
task was to be accomplished. «* r *.,«
It has been decided to take out the great girders
one by one by mean* of an enormous trs«
crane. The foundations and runways for this .ran*
will bo built at each side of the great shed, and t
la this work that will be begun to-day. It wi'l
be several days before the work will be visible »
passengers, but after that they will be able se*
the operation of the great crane as it take* th»
girders uwuy.
The crune to be used will probably be the larg
est ever employed for any such task. Work cm . ta»
second section of the temporary terminal In Lex
ington avenue, which will be used for through
traffic. Is going on and will be uninterrupted dor-
Ing the tearing down of the train shed. Bi am
time the train shed la down the temporary ternn
mil will be ready to receive the traffic which USS
been using the old shed.
HARD TO GET JURY FOR ARMENIA*
In trying to obtain a jury yesterday to erf
Pedro* Hampannoml»n. accused of SSMS <SBI m
Hovhannes Tavahanjlan. an Armenian rug ■»
chant, on July 22. forty of the clal J» n *L^
seventy-rive talesmen had to be excused. T«9
jurors were chosen. Eroanuel Flnsterer. a me
chant, of No. 256 Third avenue, living *t No *•-
Hast 72d .street, and Ralph Well, a vice-president,
living at No Ml bbbbl 206 th street.
During the afternoon seven additional jurym«»
were obtained. They were: William E. Allen^
president. No. 7S Water street; John E. Has*,*"
Chltect. No. 3 East 33d street; Charles Brennernaa.
retired No. 2!« West SOth street: Eroll Green, real es
tate. No. 41 Park Row: James E. Cullen. »° 3ura^! >
No CM Broadway; George M. Perkins. Ice deairr.
No. -US West 2tth street, and William O. *»*■»
builder. No. 249 Spring street.
The trial was adjourned until Monday.
AUTO KILLS VALUABLE HORSE.
Plttsburg. Oct. 23.— horse valued at l&OSa, ***
longing to H. Vervack. of Buffalo, sent hers »
the horse show next week, was shot to-day sfW
an automobile had struck It. breaking both hta^
legs. The automobile Is owned by George C
ion. an attorney, and Urn chauffeur •«• arr*.t»*
A netro boy riding th. hor»« w*j unftart