15500. Borough Bank (New York, NY)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: October 24, 1907
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 4e2726c4

Response Measures

Borrowed from banks or large institutions, Capital injected, Full suspension, Books examined

Other: Receivers were appointed; depositors' committee negotiated deferred payments; directors/stockholders pledged deposits to aid reopening.

Description

Newspaper accounts describe heavy withdrawals the day before the bank suspended and the bank's suspension on October 25, 1907, followed by appointment of receivers and indictments of officers. Causes are bank-specific (insider loans, forgeries, mismanagement). No clear evidence the bank later reopened; receivers were appointed and legal actions pursued, so classified as run -> suspension -> closure.

Events (3)

1. October 24, 1907 Run

Cause: Bank Specific Adverse Info
Cause Details: Large insider loans, questionable loans to Gow and associates, alleged forgeries and misstatements of condition triggered withdrawals.
Measures: Directors and stockholders pledged deposits to help liquidate notes; committee appointed to meet depositors to discuss reopening and deferred-payment plan proposed by depositors (accept staged repayments).
Newspaper Excerpt: Other friends of Mr. Gow seemed to have a premonition on the day before the suspension that they had better get their money out.
Source: newspapers

2. October 25, 1907 Receivership

Newspaper Excerpt: the receivers of the Borough Bank ... the receivers of the Borough Bank. Attorney General began an investigation ... The directors believe that the property turned over by these men since the suspension of the bank will more than cover these loans. ... Henry A. Powell, of Brooklyn, and I. N. Cox, of Ellenville, the receivers, have appointed Clarence J. Shearn as counsel.
Source: newspapers

3. October 25, 1907 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Discovery of heavy insider advances, excessive loans to single interests, questionable collateral and alleged forgery in reports led to loss of confidence and suspension of payments (receivers appointed).
Newspaper Excerpt: Referring to withdrawals just prior to the suspension of the bank, which was on October 25, the statement of the receiver says ...
Source: newspapers

Newspaper Articles (9)

1. November 19, 1907 New-York Tribune New York, NY

Article from New-York Tribune, November 19, 1907

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BANK EVIDENCE STRONG Continued from first page. $13,000, but declared it would be paid when due. Other banks, he said, had similar notes, but he always paid up such obligations and would be able to do so in the future. According to Borough President Coler the $10,000 he is said to have borrowed from the Borough Bank came from William S. Hurley personally and is secured by ample collateral. It seems that the Borough Bank had advanced $13,000 to a sewer contractor whose work was held up, and in order to save the bank Mr. Hurley took the contract and gave it to another contractor, to whom an additional $10,000 was lent by the bank. BOROUGH BANK CONDITIONS. A report of the condition of the Borough Bank, drawn up by counsel for the depositors, will be read at a meeting called for the Columbia Theatre this morning. It will say that the bank examiner found book assets of $4,273,289 and liabilities of $4,085,000. He at once threw out assets amounting to $176,348. It was found that loans made to William Gow were $186,438. secured by collateral amounting to $155,700. these loans being considerably more than the 40 per cent the law permits any one person to get from a bank. It was found that loans made to F. W. Doolittle, Mr. Gow's secretary, and others, which loans are supposed to have gone to Gow, amounted to $125,145. Loans to Mr. Maxwell, Mr. Campbell and John S. Jenkins aggregated $100,000. The directors believe that the property turned over by these men since the suspension of the bank will more than cover these loans. The securtties include the entire capital stock of Bellaire Park, near Jamaica, which was owned by Gow, Maxwell and Jenkins. A full list of the call loans and the time loans will be presented in the statement. One story told last night was that at 6 o'clock on the night before the Borough Bank suspended two representatives of a Manhattan bank, which cleared for the Borough at one time, walked into the office of Mr. Hurley, in the rear of the bank, with a note for $250,000 signed by Howard Maxwell, president of the Borough Bank. They demanded more security, but Mr. Hurley refused to give it. Next day Mr. Maxwell admitted that he had gone beyond his authority in issuing the note without consulting the directors. The affairs of the Jenkins Trust Company, of which John G. Jenkins, jr., was president, and the Williamsburg Trust Company, of which Frank Jenkins was president, seem to be much involved with those of the Jenkins family and the stock brokerage firm of F. & J. G. Jenkins, jr. & Co. Of the stock of this firm, 1,200 shares in all, 400 each are held by Frank and John G., jr., 300 by John G. Jenkins, sr., and 100 by Fred Jenkins, another son. It would appear that they needed a great deal of money to carry on the operations of this firm, and much of it was obtained from the two trust companies. SOME JENKINS TRUST CO. DEALS. Two directors of the Jenkins Trust Company are authority for the statement that in the two days prior to the suspension of that institution John G. Jenkins, jr., the president, got $104,000 in cash without any security. Later, it is said, he put up stock of the brokerage concern as collateral. It is said that either personally or through friends Mr. Jenkins got $557,000 in loans from the company. Hugo Hirsh, a director, speaking yesterday of a session he and several directors had with the president and W. A. Conklin, the secretary. a few hours after the suspension of the institution, said: "We asked the secretary to read us some of the loans. Then I asked for the identity of the men to whom some of the loans had been made. We found that some of them were clerks in the office of F. & J. G. Jenkins, jr., & Co. I said to Mr. Jenkins: 'So you took all this money without letting the directors know anything about it?" 'Oh, it wasn't for me, he replied. 'It was to protect our customers.' "I found that, with the exception of the $104.000 taken without collateral, the stock of the stock brokerage firm, the Williamsburg Trust Company and of the First National Bank had been given as security for the $557,000." The Williamsburg Trust Company, of which Frank Jenkins was president and John G. Jenkins, sr., was a director (until they were forced out after the suspension), has for some time carried heavy loans for the Jenkins interests. Only a small part of these loans were carried in the Jenkinses' names, but most of them

2. November 20, 1907 The Abbeville Press and Banner Abbeville, SC

Article from The Abbeville Press and Banner, November 20, 1907

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# FINANCIAL SITUATION IN SYNOPSIS. Wednesday.- Corner in copper securities engineered in New York City by the F. Augustus Heinze interests collapses and stocks slump heavily. Gross & Kleeberg, brokers, forced to suspend. Otto Heinze & Co., brokers, unable to settle with other New York Stock Exchange firms. Thursday.- After conference of bankers at home of Charles W. Morse, F. Augustus Heinze retires as president of Mercantile National Bank. State Savings Bank, of Butte, Mont., a Heinze institution, closes its doors. Friday.- On demand of the Clearing House Association the entire directorate of the Mercantile National Bank, of which F. Augustus Heinze, Charles W. Morse and E. R. Thomas gained control last January, resigns. Mercantile Bank requires aid in clearing debit balance of $754,000. Stocks reached lowest point of the year. Saturday.- Charles W. Morse resigns as director and trustee of fourteen banks and financial institutions, among them the National Bank of North America. Sunday.- Bankers held all day conferences and Seth M. Milliken is chosen president of Mercantile Bank. Monday.- O. F. Thomas resigns as president of the Consolidated National Bank. William R. Montgomery succeeds E. R. Thomas as president of the Hamilton Bank. The National Bank of Commerce notifies the Clearing House that it will cease to redeem checks for the Knickerbocker Trust Company, and Charles T. Barney retires as president of the Knickerbocker Trust Company. Tuesday.- The Knickerbocker Trust Company forced to suspend payment following a run by depositors and after $8,000,000 is withdrawn. Marcus Mayer & Co., stock brokers, with liabilities of $5,000,000, forced to suspend. George B. Cortelyou, Secretary of the Treasury, goes to New York City to take charge of financial situation. Wednesday.- Depositors start a run on the $80,000,000 Trust Company of America and withdraw $8,000,000. Westinghouse Electric and Manufacturing Company, with liabilities of $100,000,000, forced into hands of receiver. Pittsburg Stock Exchange suspends trading operations. Thursday.- With stock market demoralized, Mr. J. P. Morgan and associates save situation by sending $27,000,000 to be put out as call loans. Twelfth Ward Bank, Hamilton and Empire City Savings Banks suspend payments to protect depositors. Friday.- United States Exchange Bank, of Harlem; Borough Bank, of Brooklyn, and Union Trust Company, of Providence, R. I., close doors. Eight banks and trust companies in Manhattan and Brooklyn suspended payment. The Clearing House decided to issue loan certificates which will be used in the settlement of bankers' balances. Reassuring statements as to the financial situation were issued by leading business men and Government officials. The savings bank presidents decided to require sixty days' notice from depositors for the withdrawal of funds. Confidence being restored, President Roosevelt issues semi-official reassurances. No cause for further alarm. Whole country prosperous and good times will continue.

3. November 23, 1907 New-York Tribune New York, NY

Article from New-York Tribune, November 23, 1907

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Amount of loan Frederick Kaiser, clerk $62,000 C. H. Reuter, clerk 58.000 F. C. Young, clerk 95,000 Waldo Hunter. clerk 104,000 The brokerage firm itself got $188,000 from the company, and Fred Jenkins, a son of John G. Jenkins, president of the First National Bank of Brooklyn, and brother of John G. Jenkins, jr., president of the Jenkins Trust Company, got a $50,000 loan. The Jenkinses have up as collateral security for these loans stock of the First National Bank, of the American Malt Company preferred and stock of their own brokerage company. Presumably some At least of this collateral was put up after the bank closed. The loans to the clerks were made under date of October 1, except $50,000 to Young and $50,000 to Hunter, made just before the bank closed. George A. Zabriskie, a flour merchant, cashed a check for $20,000 on the Borough Bank the day before it closed. From this incident arose the rumor that he had been "tipped off" by a friend who is also a director of the bank, and he was subpoenaed by the grand jury. As a matter of fact, Mr. Zabriskie cashed the check to meet a note for that amount which fell due at that time. After the check was deducted from his deposits he still had left on deposit in the Borough Bank nearly $20,000. Directors and stockholders of the Borough Bank held a long meeting at the Clarendon Hotel yesterday morning, and it was announced that about seventy stockholders had pledged themselves to apply their deposits to the liquidation of all the notes owed the bank, regardless of the time of maturity of the notes. A committee of five was appointed to meet the depositors to discuss plans for reopening the bank. About fourteen hundred depositors have signed the agreement to accept the deferred payment plan, and a fight will be made against the motion to make the receiver permanent. The directors of the Williamsburg Trust Company sent out a statement to the depositors yesterday saying that the state bank examiner had reported assets of $8,176,826.56 and liabilities to depositors of $6,801,361 23. with a margin over and above all liability, except to stockholders, of $714,621 30. The depositors are asked to sign an agreement providing that they may demand 10 per cent of their deposits at once, 15 per cent four months after resumption, 20 per cent after eight months 25 per cent after twelve months and the remaining 30 per cent after sixteen months, so that a receivership may be fought. The depositors of the Jenkins Trust Company, at

4. November 24, 1907 New-York Tribune New York, NY

Article from New-York Tribune, November 24, 1907

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him by a man named Jaggars was never actually made. He is said to have told the investigating directors that he owned a triangular piece of property in 57th street, which was to have been bought by a man named Jaggars when it had been added to by the purchase of the complementary triangle. He borrowed the $2,000, he is said to have told the directors, to acquire the additional property. Jaggars was to have bought the completed square and given to Mr. Jenkins a mortgage for $2,000 in addition to cash; but Jaggers, it seems, backed out of the bargain. Mr. Jenkins later sold the property to some one else for $4,000. When asked by the directors of the Borough Bank why he did not tell them of the sale or take up his note, he is said to have replied: "This once my memory got me into a hole. I forgot all about it." Mr. Jenkins has transferred some of his property to the Borough Bank. One of the indictments that will probably be handed in on Tuesday will be based on a charge of perjury in the testimony of an associate of William Gow before the grand jury. He is said to have denied knowledge of certain features of the $145,000 check which was charged against the estate of Carrie M. Maguire and the $250,000 note turned over to the Oriental Bank, both of which transactions were made to make up the $1,000,000 capital necessary to put the International Trust Company on its feet. W. S. HURLEY NEARLY CAUGHT. A story told last night shows how nearly William S. Hurley, vice-president of the Borough Bank. whose heart has been nearly broken by the revelations of the secret transactions of those he trusted came to being made unwittingly a party to the forgery committed in the signing of the quarterly report of the bank to the State Banking Department in June. Arthur D. Campbell and Howard Maxwell are under indictment for forgery in the third degree in signing this statement, which is alleged to be false in that it said that the overdrafts of depositors at the time the report was made were only about $200. whereas they were really some $24,000. It is said that Mr. Hurley was hurrying to luncheon through the bank from his office in the rear one noon when Mr. Campbell handed him a document and a pen already dipped in ink. "Won't you please sign this?'' said Mr. Campbell. "Mr. Maxwell has gone home with a headache, and it needs the signatures of two officers of the bank." Mr. Hurley, holding the pen poised in his hand, looked through the document and asked what it was. "It is our quarterly statement," replied Mr. Campbell. "Are these figures all right?" said Mr. Hurley. "Yes," was the reply. "Has Mr. Maxwell seen them?' asked Mr. Hurley. "He saw the report from which this form was made out." said the cashier. "Well, then let Mr. Maxwell sign the report." said Mr. Hurley, as he hurried out. Mr. Maxwell. who returned to the bank soon after, signed the report, and it is now the basis of a serious charge against him. The stockholders of the Borough Bank held another meeting in the Clarendon Hotel yesterday afternoon. William S. Hurley was appointed chairman of a committee to devise ways and means for opening the institution. They expect to show, when the argument on making the receivership permanent comes up before Justice Betts on November 30. that the property turned over to them by Messrs. Gow, Maxwell, Campbell and others will be more than enough to enable them to resume. and that, therefore, the receivers should be discharged. Henry A. Powell, of Brooklyn, and I. N. Cox, of Ellenville, the receivers, have appointed Clarence J. Shearn as counsel. Howard Maxwell, former president of the Borough Bank. is still in the Raymond street jall. Isaac R. Oeland, his attorney, thought he had found a bondsman yesterday afternoon in the person of George M. Van Doorn, a real estate man, but he was unable to complete the arrangements up to 10 o'clock last night, when Assistant District Attorney Smith, who had been waiting to prepare the bonds, went home. Sisters of the indicted banker qualified for $10,000 of the $30,000 in which Mr. Maxwell is held, and Mr. Van Doorn was expected to furnish the remainder. The District Attorney's office refused to accept the bond of a surety company for $20.000. Nothing further will be done to release Mr. Maxwell until to-morrow. District Attorney Clarke returned from his vacation yesterday. He expressed himself as much pleased with the way the bank cases had been handled by Mr. Elder.

5. December 1, 1907 The Sun New York, NY

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# LITTLETON DEFENDS GOW. Counsel for Indicted Director Lays Blame on Others. Martin W. Littleton, counsel for William Gow, the indicted Borough Bank director, issued a statement yesterday in defence of his client and attacking other directors of the institution. He denied in the first place that Gow had speculated in the stock market. He declared that his client had never made any confession before the board of directors. "At the meeting of the directors of the bank," said Mr. Littleton, "Mr. Gow was abused and assailed by Mr. Hurley [William S. Hurley] in a manner which under ordinary circumstances would require that Hurley be either throttled or thrown out of the room. Mr. Gow patiently bore the attacks of this man, and as showing his real concern for the depositors he made over to the bank several hundred thousand dollars worth of property, leaving himself absolutely nothing. "As against this effort to save the depositors, I am informed that the very men who abused him and who still circulate false statements about him permitted their friends, after the bank had been closed, to bring hand satchels and take out of the bank large sums of money. Thus while Mr. Gow was endeavoring to save the depositors from loss those who hypocritically pretended to be reforming the bank were stealthily paying out its funds to their friends." Mr. Littleton denied further that Gow had deserted Maxwell after the latter had been put in jail because of his failure to raise the $30,000 bail. Mr. Littleton said that his client had given all of his time to the procuring of bail for Maxwell, and was finally instrumental in bringing about his release. Mr. Littleton said that Gow had never used for his own use or benefit a single dollar of the funds of the Borough Bank for which he did not give or has not given ample security. Mr. Gow, Mr. Littleton declared, respects the law and will meet the charges against him. "In the tumult and outrage that has grown out of the tumult," said the lawyer, "Mr. Gow has been abused, misrepresented, assaulted, 'mugged' and made infamous by the sheer lawless power of a Police Department, the most arbitrary in the civilized world." The new Grand Jury will take up the investigation into the Borough Bank affairs on Monday morning. As told in THE SUN yesterday the investigation will be directed toward getting at the exact facts about the withdrawals on the day before the bank suspended. It was learned yesterday that the books of the bank show that checks of a city official, a friend of one of the bank's directors, amounting to about $45,000 were paid by the bank on the day before it closed. One of the accounts drawn against had been inactive for a long time. It is said that evidence indicated that checks for $20,000 of this amount had been cashed after the closing hours of the bank. The actual cash was not paid out on these checks, but they were used to take up the notes of insiders held by the bank. The payment of these notes by check released good collateral held by the bank. Whether any arrangement was made between the insiders and the man who drew the checks by which he was secured is unknown. Samuel S. Whitehouse, counsel for the directors, denied that any such transactions had taken place. Justice Burr of the Supreme Court heard arguments yesterday on the application made by Mr. Littleton for a writ of mandamus directing the Police Department to destroy the photographs which it took of William Gow. Justice Burr reserved decision.

6. December 1, 1907 New-York Tribune New York, NY

Article from New-York Tribune, December 1, 1907

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BIG SUMS DRAWN OUT. Continued from first page. sent was not obtained by Gow, and the Church Corporation had no knowledge of the assignment until informed by me. When Mr. Brown took possession the fire insurance policies were still in the name of Mr. Gow. He at once cancelled the insurance and took out some in his own name as receiver. THE FULTON FOUNTAIN. Reference is made in the report to the Fuiton Fountain (a confectionery store and soda fountain recently established in the basement of the trust company's building) as a "private enterprise of Ward & Gow." The receiver goes on to say, however, that he has been unable to find out who the real lessees of the premises are, although he has been dealing with their lawyers. Last week he received a check for two months' rent, with the reduction of $1,910, which the attorneys said was in accordance with a verbal agreement made with Gow that the expense of fitting up the place should be deducted from the rent. The report goes to show that of the 5,000 shares Gow owned 2,500, John S. Jenkins 599. and Howard Maxwell, president of the Borough Bank. who killed himself recently, 1,224. Mr. Brown says he can find no minutes of any directors' meeting, but on October 10 he finds a charge on the books of the company representing $20 paid to various directors for attendance on a meeting. Discussing the various directors of the institution, he says he is informed that "one Briggs. of New Jersey, was elected a director, but I have been unable to get any special information about him." In view of the fact that the organizers of the International were prominent in the affairs of the Borough Bank a list of the deposits of the former with the latter Institution is Intertesting. A table made out by Mr. Brown shows a steadily increasing balance from October 3, the day after the International opened. when some $9,000 was deposited, up to October 24, the day before the suspension, when the balance was $519,091.01. "It will be observed," says Mr. Brown, "that at a time when the officers of the International must have known of the condition of the Borough Bank they de. posited there $200,000." SOME WHO WITHDREW ACCOUNTS. Referring to withdrawals just prior to the suspension of the bank, which was on October 25, the statement of the receiver says that Nelson B. Burr. vice-president of the company, on October 24 drew out $400. leaving a balance to his credit of about $78: John S. Jenkins on the same day drew out $4.500, leaving only a little over $1,000; Oscar Knauth, introduced to the bank by a friend of Gow, drew out $5,000 on October 23. leaving a balance of something over $3; Theodore Kinath, introduced in the same way, drew out $7,700 on October 24. leaving some $61; the National Surety Company, introduced in the same way, drew out $9,000 of a $10,000 account on October 23: the Van Schaick Realty Company, introdued by Gow, Maxwell and Jenkins, drew out $15,000 of a $25,000 account. Other friends of Mr. Gow seemed to have a premonition on the day before the suspension that they had better get their money out.

7. December 4, 1907 The Evening World New York, NY

Article from The Evening World, December 4, 1907

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sr., were examined by the Grand Jury yesterday. They are Fenwick B. Small and J. L Hart. both of who mwere asked to testify to loans made by the Jenkins Trust Company, of which Small is a director. District-Attorney Clarke now plans to clean up the tangled affairs of the two trust companies before going further Into the affairs of the Borough Bank. Around the Court-House to-day were heard expressions of sympathy for John Jenkins, sr., who several years Rgo turned his affairs over to his sons The recent revelations are said to be a great surprise to him. Every witness Is believed to have cleared him of guilty knowledge of the wronzdoing. The temporary receivers of the Borwugh Bank assert that the Wyant plctures, taken as collateral for R $5,800 loan, are not worth anywhere near that amount. William S. Hurley said last night the receivers did not know anything ab ut art. "I own five Wyants, and there are three of the pictures In the bank as colInteral." he said. "I consider them one of the best assets of the bank. William N. Macbeth. of No. 450 Fifth ovenue. has declared that one of the pictures will sell for more than the loan. I am not Interested in the loans which were made to Harry E. Lee. of Manhattan, but I consider them more than good."

8. December 8, 1907 New-York Tribune New York, NY

Article from New-York Tribune, December 8, 1907

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THE NEWS THIS MORNING. FOREIGN.-Secretary Taft and party. sailed It from Cuxhaven for the United States. was reported in Tokio that a satisfactory settlement of the emigration question had been Japan took measures to improve reached. Lonthe financial condition of the empire. don heard rumors that Emperor William had effected diplomatic settlements during his visit Antonio Dulucia, head of the in England. Camorra, when arrested in Naples had $20,000, made, it was said, by furnishing recruits to the Unless Dinizula, New York Black Hand. the Zululand King, surrenders, British troops will take the field. DOMESTIC-Secretary Cortelyou announced the allotments of Panama Canal bonds to naThe Republican National tional banks. Committee selected Chicago, June 16, as the place and time for holding the national convenIndictments for infraction of the tion. Missouri Sunday law were found against 228 actors, actresses and theatrical employes at Kansas City, and 141 arrests were made. Continued search in the mines of the Fairmont Coal Company brought to light many bodies; it was thought that all within the mines at the Federal time of the explosion, perished. Mayor troops arrived in Goldfield, Nev. Farnham, of Lowell, Mass., removed two police commissioners who refused to resign for alleged malfeasance in office and neglect of duty. Chancellor Day at Syracuse announced that he had declined an offer from a lecture bureau for a debate on socialism with Gaylord John A. Steele, who shot three Wilshire. men, one fatally, in the State House, Boston, on Thursday, was indicted for murder in the first degree; it was said that Dennis D. Driscoll, one of his victims, was making satisfactory progress. It became CITY.-Stocks were lower. known that "Fingey" Conners and Charles F. Murphy were now favoring Bryan for the PresiBingham issued his Sunday closdency. ing order, putting all kinds of amusements under The weekly bank statement the police ban. showed improvement in the financial situation. The new subway police threatened to strike for more pay and a shorter day. The stay granted against the state street railway receivers was modified by the court. The last big battleship sails to-morrow, and the navy yard was busy sprucing up. Changes were made in the women teachers' The depositors' committee of salary bill. the Borough Bank announced plans to induce large depositors not to withdraw their deposits The Excelsior Fire from the bank at once. Insurance Company applied to the Supreme Controller Metz exCourt for dissolution. plained why the city had shut down tempoA small rarily on public improvements. fire in a curtain at the Hippodrome was extinguished in full view of a calm audience. The Public Service Commission ordered that the President hours in Ambrose Channel. Schurman, of Cornell, at the third annual Ginner of the Tennessee Society, said that overlegislation was a danger to the country. Public Service Commission ordered that the dimensions of the new subway be larger than those of the present tube. THE WEATHER.-Indications for to-day: Fair. To-morrow: Increasing cloudiness, light west to south winds. Highest temperature, 46, at 3 p. m.; lowest, 31, at 6 a. m.

9. December 10, 1907 New-York Tribune New York, NY

Article from New-York Tribune, December 10, 1907

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THE NEWS THIS MORNING. CONGRESS.-Senate: Several resolutions providing for an inquiry into recent Treasury bond issues were introduced. House: It was announced that the committees will not be appointed this week. FOREIGN-The final stage of the court martial of General Stoessel will begin in St. PetersMrs. Taft was among the burg to-day. passengers for the steamer President Grant who were tossed about in 3 disabled tender in Boulogne Harbor. The bursting of two/great water mains caused a general suspension of Bennis Nasbusiness in St. John, N. B. sen tribesmen asked forgiveness. hoping to stop the French forces in Algeria from advancing Emperor William arrived in upon them. London to spend three days sightseeing before The ardeparting for home. necessary rangements will not permit of the holding of the funeral of King Oscar within a fortnight. The steamer Kroonland broke her shaft in a Rusheavy gale westward of the Lizard. sia, 11 was learned, plans to market a foreign loan in 1908. DOMESTIC.-Senater Foraker wrote to the chairman of the Ohio Republican State Committee. asking that delegates to the state convention be chosen at a primary election. Fourteen of the sixteen vessels composing the Pacific fleet were gathered at Norfolk. Sixty-six bodies were removed from the mines of the Fairmont Coal Company, at Monongah, W. Va.: the scenes about the mouth of the mines were pathetic. It was announced that the Goldfield mines would be reopened on Thursday: no members of the Western Federation will be employed. John F. Ahearn. Borough President of Manhattan. was removed from office by Governor Hughes on the charges of neglect and misconduct preferred by the City Club. Mrs. Emma A. Huntley. of East Somerville, Mass., who is thought to be insane. killed her two orphan grandchildren. who were The lack of a sufficient numvisiting her. ber of beds in the boys' department at the Tombs is set forth by members of the State Commission on Prisons. It was learned CITY.-Stocks were lower. that negotiations were in progress for the consolidation of the Mercantile National Bank with are or more national banks of this city. Two more notes said to be forgeries were found The by receivers of the Borough Bank. Attorney General began an investigation through handwriting experts of the proceedings in the appointment of Joline and Robinson as receivers for the Metropolitan Street Railway A. H. and the New York City Railway. Smith. general manager and vice-president of the New York Central. was placed on trial on the charge of manslaughter. growing out of the Charles Woodlawn wreck last February M. Preston, as receiver for the New York Building Loan-Banking Company testified that he had never made formal contract with his counsel. The city made arrangements with the New York Fdison Company to furnish power for the new fire service. and failure to supply the power under certain conditions will make the company liable to a fine of $500 a minute. Columbia students. owing to thefts in the university talked of forming a vigilance committee. The Aldermen. it was said. would try to make the Sunday law less drastic Representative Olcott said Speakor Cannon would be the Republican nominee for President. Norman E. Mack said the National Democratic Convention would be held either in St. Paul or Louisville. Federal officials brought out facts to show that the Tobacco Trust had tried to conceal the widening of its activities. THE WEATHER-Indications for 10-day: Rain. The temperature yesterday: Highest, 62 degrees: lowest. 41.