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PELHAM NATIONAL STILL HAMPERED PELHAM. March 20 -Opening of Pelham National Bank for regular business, which had been expected today, will be delayed, probably for two or three days, according to Clyde F. Brown, president. In the meantime. he said, the bank will continue its limited business which has obtained for the last week. He said he is in close touch with
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MADE BANK RECEIVER -Warner Pyne has been ap- Washington, D. C., July 22 (U.P.). pointed receiver for the Pelham, N. Y., National Bank. Liquidation of the bank's affairs will go ahead under his direction.
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CHANGE COUNTER BEGUN BY CLUB Pelham Lions Act to Provide Facilities While Bank Remains Closed PELHAM Sept. 12. Work in the establishing of Pelham Lions Club Change Booth for the benefit of local merchants while the Pel ham National Bank remains closed. was started yesterday James T. Bollettieri. Lions Club member in charge of the movement signed up five merchants in the process of securing 30 or more underwriters of the plan, necessary for success. Each of the 30 merchants will contribute $10 to create change fund to be available at the Pelham National Bank Receiver Warner Pyne has consented to the use of bank facilities. Willard N. Young, teller at the bank. will administer the change-making operations for the convenience of merchants At present because of the fact that the bank ot open for regular business local business men find it necessary to go to banks in Mount Vernon or New Rochelle for change.
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CHANGE COUNTER BEGUN BY CLUB Pelham Lions Act to Provide Facilities While Bank Remains Closed PELHAM, Sept. 12.-Work in the establishing of Pelham Lions Club Change Booth. for the benefit of local merchants while the Pel ham National Bank remains closed. was started yesterday James T. Bollettieri, Lions Club member in charge of the movement signed up five merchants in the process of securing 30 or more underwriters of the plan, necessary for its success. Each of the 30 merchants will contribute $10 to create change fund to be available at the Pelham National Bank Receiver Warner Pyne has consented to the use of bank facilities. Willard N. Young teller at the bank. will administer the operations for the convenience of merchants. At present. because of the fact that the bank 18 'ot open for regular business local business men find it necessary to go to banks in Mount Vernon or New Rochelle for change. STATE HENS PID GOOD JOB By the United Press HARRISBURG PA The 10,122 laying hens kept on state institution chicken lots provided 1,772,834 eggs for inmates of the institutions last year. the Department of Welfare reported. The average production for the year was 175 eggs per bird, as compared with 165 eggs for the previous season.
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PYNE SAYS ADDED COUNSEL MERELY DUPLICATES WORK Pelham Bank Receiver Insists His Staff Can Handle Situation PELHAM. Nov. 25. Additional counsel the counsel now handling the legal end of the Pelham National Bank situation would only duplicate efforts now being made in the depositors interests accord ing to Receiver Warner Pyne, in his statement answering letter received by him yesterday from Dudley Wilson, chairman of the Depositors Committee The exchange of opinions between the Receiver and the Committee Chairman has reached the con troversy stage, with Wilson press ing move to establish cooperation between the Receiver's attorneys and the Committee's attorney while Pyne insists that his attor neys are equipped and able handle the entire What Pyne Says The Pyne statement reads in part "Mr. Wilson attempts to criti cize me as Receiver and my attor neys for the manner in which are administering the trust This attack quite evidently is the result of my written statement disapproving plan proposed by Mr Wilson ask depositors to assign sum not exceeding 10 per cent of their balances in the bank fund for the employment of independent reiterated in disapproving that plan that could see good reason for burdening the depositors with further expense involved in engaging and compensating additional counsel, who, believe do no more than duplicate the legal efforts already being put forti. in the depositors' interest Assignment further stated that assignment of depositors claims are inadvisable and are discouraged by the Comptroller of the Currency The 10 per cent of the deposits of $1. 200,000 would of course amount to $120,000. son has 120,000 reasons for criticising me and my able attorneys, whose efforts he himself but recently characterized as 'marvelous suggest that befor depositor assigns any part of his deposit should personally acquaint himself with the true facts and the full situation.'
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ADOPT PLEA PARLEY Allege Present Appointee Is Not Conducting Adequate Prosecution REASONS ARE OUTLINED The Receiver Warner Pyne and attorneys representing him prosecution of John closed Pelham president National Bank. and the prosecuother the sought more than tense meeting Memorial High School last Dudley the Depositors Committee who engaged bitter concently troversy Receiver Pyne over the question of cooperation between Receiver's atttorneys and Committee attorney, presided which wound up with the the adoption of resolution to petithe Comptroller Curtion rency remove Pyne and his torney. Lynch in Case The Receiver represented by firm of Hardy, Stancliffe Hardy, whom former Judge Humphrey Lynch is alligned in the bank revelation that suits have been instituted against all other directhe within the past tors days, came during the meetafter Wilson had launched attack against Pyne and former Judge Lynch, which he contendthe two conducting prosecution. James Cavanaugh attorney and resident the front the auditorium that action had been against all directors, that he representing two the and that sumand complaints had been monses served directors Tuesday night. He appeared two yesterday in Supreme Court White The plaintiff, he said later, ceiver Pyne. who charges gence and his complaints. The total the suits the sought Mr. Cavanaugh Explains Objections scoring ReChairman ceiver Pyne former Judge charged that the latter had interested various ways in been banks the County which three closed. He explained his objections to Pyne's continuing Receiver the grounds that he resident that leader of the Democratic party town. and he declared that banking interests were civie mixed the social life the town. that political paid tribute to Caeser, qualified for citizenship Caeser realm." He told the depositors the Comptroller's office had held rule to appoint bank person the community the bank. the petition drawn night the Comptroller the Currency will be asked adhere that rule, by substituting and attorneys the Receiver place of Receiver Pyne and his torneys. The Committee Chairman spoke for nearly hour, listing reasons why he believed the employment of counsel by Committee He declared that, Receiver Pyne's contentrary tion that building of the John Brook and against arrest had been brought Brook's about by the Receiver and his that Wilson, the solely, Depositors Committee had supplied that led the Brook's pressure He that he had laid berest. said Receiver Pyne, thirteen specifications for action against before Brook was arfew days rested in Pelham. Wilber W. Chambers. member of retained by the Committhe firm his hearers to stick advising the plan independent counsel, his firm does not want to run foot race with Receiver Pyne, that the needs careful but study by counsel working independently the depositors. treasurer of the David Flynn, sub-committee seeking to collect defray the expense of depositors' counsel, said that 250 subthe have been scriptions to fund received.
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Pelham Bank Receiver Sues 11 On Board $750,000 Asked, Directors Accused of Shutting Eyes to President's Violations Special to The Herald Statesman WHITE PLAINS, Dec. 8. Charges that 11 officers and directors of the closed Pelham National bank, including its jailed ex-president, John T. Brook, failed to observe proper, diligent and honest handling of the bank's affairs and permitted violations of the United States banking laws are contained in a 000 suit against them by Warner Pyne, receiver of the bank. The suit was filed in Supreme Court last night. Pyne alleges misadministration of the bank's affairs by Brook, and charges that the other directors and officers knew of his derelictions but took no action. Brook is sued individually for his 'fraudulent transactions' as president and is in the County Jail in default of a $25,000 bond. Wording Of Charges "The defendants the complaint reads in part, "did not diligently or honestly administer the affairs of the said bank, but on the contrary, wrongfully, carelessly, illegally, negligently and at times fraudulently failed, neglected and or refused diligently, honestly or properly to administer its affairs, and knowingly violated and permitted to be violated various provisions of the statutes of the United States. Then follow 35 printed pages in which maladministrat and fraudulent handling of the bank's assets are charged by Humphrey J. Lynch, attorney for Pyne. Charges were made that the bank directors permitted Brook to make loans to himself for stock gambling purposes, and that such gambling totaled $5,000,000 in 1928 and almost $15,000,000 in five years. Lent Funds to Own Firms As far back as Jan. 6, 1930, the complaint says, bank examiners warned the directors that $108,291 was outstanding in loans to persons or corporations in whom Brook had an interest, but nothing was done to get the money back, and there is still due from and his affiliates the sum of $86,466. All this time, it was charged, Brook was bonded for only $5,000. Wrongful loans were made to directors, including Clyde F. Brown, the complaint charges, and worthless loans were to be made bank officers, in violation of the trust imposed on the directors. One of the serious charges against the directors in the complaint is that in 1929 they authorized Brook, chairman of the building committee, to contract with one of his companies, the John T. Brook Company, to build new bank building a cost of not more than $250,000. His company was then paid fee of $25,000 for acting as agent of the bank, received $207 401 for the building and $96,656 for equipment and furnishings. Even though the cost, through Brook's own company, ran more than $50,000 higher that the amount specified, no objection was voiced by the directors, it was charged. The suit is against all the directors and officers of the bank, who include Brook, Loren Thompson, former Congressman Benjamin L. Fairchild, Francis E. Haag, Michael J. Leo, Carroll E. Latimer, Clyde F. Brown, Myron T. Townsend, George W. Lawrence, C. Robert Adams and Henry W. Nuchols.
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CHANGE IN BANK'S RECEIVER SOUGHT PELHAM Wilson Says Petition Has Been Filed With U.S. Comptroller PELHAM Dec. 18. A petition signed by more than 500 depositors of the Pelham National Bank has been filed with the Comptroller of the Currency in Washington asking for a change in the receivership of the bank, Dudley A Wilson chairman of the Depositors Committee said today. The petition is the result of the recent exciting mass meeting at Memorial High School. when depositors present decided to ask for the removal of Receiver Warner Tyne and the legal staff working with him, and the substitution of a new receiver and new counsel. Mr. Wilson said that since the last mass meeting of depositors. contributions to the fund for special counsel for depositors have been coming in at a faster rate and in greater amounts. The committee hopes to raise $10,000 to pay counsel for an independent prosecution against former directors of the bank
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Will Not Remove As Pelham Bank Receiver, Comptroller Tells Wilson O'Connor, Federal Currency Head, Declares He Has Found No Facts Warranting Ouster of Appointee PELHAM, Jan. 20.-Comptroller of the Currency J. T. O'Connor will not remove Warner Pyne, Receiver for the Pelham National Bank, the Comptroller yesterday informed Dudley A. Wilson, Chairman of the Depositors' Committee which sought Pyne's removal through petition signed by hundreds of de- positors. In his letter to Chairman WilComptroller Connor states that he has on investigation, no facts which warrant Pyne's removal The Committee Chairman, declined to reveal the full text of the Comptroller's letter, but issued the following statement, attacking the Comptroller's decision today: have just received letter from T. O'Connor, Comptroller of Currency, in which he states that from report, which, on Investigation, he has received. he finds no facts in his opinion, sufficient to warrant the removal of Mr. Pyne. Readily Understands 'Bearing mind the fact that Mr. Pyne Mr. own appointee and among the first of series political job seekers appointed violation long established of the Comptroller's office, can readily understand his action. investigation he may caused to be made questionably superficial if purely gesture. doubt Mr. O'Connor had such faith Mr. Pyne that he accepted Mr. Pyne's own version the basis of the report which this decision was made. We could little more Connor's decision not accepted final. and the depositors' cause will be fought with even more determination. Calls Test consider the issue raised of local appointment local attorney politician take their political, business cohorts, coupled with the circumstances made test already the soundness of our governmental would be pure cowardice and lack fortitude for the Committee to now give up and surrender to this type political domination. principle involved not local but national many communities throughhave but out the entire country afflicted with this recently been disgraceful political pakind tronage and closed National nection banks. Challenge, He Says every self challenge citizen to respecting that President carry demand banking situation into national announced policy his recently the administration of from back-door politiernment cians. the event. however that Mr. Pyne should be allowed continue receiver the depositors will leave stone unattorneys see that full justice turned to those responsible for meted out of the Pelham Nagutting tional PROMOTED NORTH TARRYTOWN Jan. deadlock the Village Board last night when the broken trustees, by of four to two. named Melaville patroithe local force for nine on be sergeant of the deyears. partment.
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PELHAM BANK RECEIVER GETS $4,000 JUDGMENT AGAINST CORPORATION Special to The Standard-Sta NEW YORK March 26 Sape mary judgment for $4,000 is lowed to Warner Pyne. receiver for the insolvent Pelham National Bank. against the Halconer Hold cording to an order filed Saturday in the United States District Court here. The order was signed by Fed eral Judge John M Woolsey the application of counsel for Mr Pyne The receiver sued to collect 000 as the assessment on the ownership of 40 shares of the bank capital stock. The company made an answer but was held no issue had been raised and therefore the receiver is entitled to summary judgment.
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Fight Over Hit By Democratic Leader Village's Democratic Committee Chairman Defends Pyne and Administration April Receiver Warner Pyne and his ministration the affairs of the closed Pelham National Bank, John Pritchard, chairman the North Pelham Village Democratic Committee, today deplored the movement depositors in opposition to the receiver. letter The Daily Argus, he expressed intimations that the movement against the who Town Democratic Commitchairman, is politically inspir- The receiver, Pritchard's letter states, has found guilty" being Democrat. The letter reads attendance the meeting depositors committee of the Pelham National Bank which so fully described in The Daily gus of April left with definite feeling of regret that least 200 of the depositors still persist in course which me to be directly contrary to their best interests and to the best interests the depositors. important which these people seem have forgotten entirely that unnecessary law suit initiated them puts burden only their own pocketbooks but adds expense the costs of the receivership and decreases the assets the bank. Are Hunting Themselves "Thus, through foolishly permitting themselves accept policy of suspicion and hostility spect the sworn official ted by the United States Government manage the affairs of the closed bank, they hurting not only themselves but each and ery depositor this bank. "When review the record of the past year very pertinent fact stands bold relief. Warner Pyne's appointment receiver received with wide approval in Pelham and the chairman the Depositors Committee was reportto have joined in this approval. was not until months after this event the time when Mr. Pyne found necessary to disapprove of the attempts of this committee collect large sum money from the depositors that horns began to grow out of Warner head and he became, forsooth, scheming politician gaged sorts secret and mysterious machinations designed to protect the officers the bank and to dissipate the funds of the depositors. the expense of the depositors several attempts have been made to discredit the receiver. But ery such attempt when reached impartial tribunal, whether in Washington New York White Plains, met the same definite setback. "The depositors' committee has always lost its case and Warner Pyne has won. The reason obvious. honest man not to be convicted of wrongdoing merely because decides to ask him tricky questions. The reader of this letter does not become wifebeater even by being forced to answer no to the question Have stopped beating your wife?' Nor any of the attacks made upon Warner Pyne decreased way the full his honesty and ability which all who know him well cannot fail to hold. Gullty of Being Democrat will admit that Mr. Pyne has been tried and found guilty in one respect. He has been found to be Democrat. While being Democrat may have been somewhat of crime the Pelham of long ago is now held to be serious fense by only few. In fact there very many people Pelham today who consider that no crime all. the will of the people of the United States the Democratic Party control the National Government and Democratic officials charge of the various agencies the Government. The depositors committee must accept they like They will best aid themselves and the interests of all depositors by cooperating with the they will, be helpful but they must not expect rect the work nor his policies nor the whom he hires to guard the inter sts. the final analysis the receiver his shoulders the burden trust and he alone will held accountable for his care of the trust. cannot shift his burden to any committee nor escape the duty performing his work to the best of his bility is to his own best intertests to make the welfare the depositors identical with his own welfare and this he is doing and will continue to do. Declared Honest Man true that every depositor realized this fact and forgetting all other considerations decided to help Warner Pyne in his task of recovering for the depositors the maximum obtainable and of bringing anyone and everyone who may be guilty of misusing the bank's funds to the proper tribunal of justice. Warner Pyne an honest man and deserves the confidence of every other honest man. before sign my name this letter, which written on my initiative and an expression of opinion individual citiand without consultation with anyone else, will state that too Democrat chairman the North Pelham Democratic Village Committee. This being said there will be no for anyone else to rush into print with this in- am confident that intelligent readers will consider the thoughts the basis of the merit lack of merit of these thoughts and will make no difference them whether am Democrat or Republican."
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LIKELY PELHAM BANK Committee Backs Suggestion Pyne Call Meeting to Discuss Details PELHAM April move toward between the Committee of Depositors the closed Pelham National Bank and Receiver Pyne was made today by the committee an announcement by Dudley A. Wilson chairman of the committee. he states the committee is in accord with recent suggestions the receiver call meeting of depositors for discussion of the bank situation. Declaring the common end the efforts of all concerned recover the 89 per cent of deposits still owed depositors Wilpoints out that depositors will be happy Mr. Pyne recovthe $750,000' for which he is suing the former directors. The committee chairman said: issue in this bank situation is the successful conclusion of the suit against the directors Winning this suit is the only thing
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NEWS From The PELHAMS PYNE AUTHORIZED TO SELL FITTINGS OF PELHAM BANK Receiver Permitted by Federal Judge to Hold Sale of Property Special to The Standard-Star NEW YORK April 21 Warner 1, Pyne receiver for the insolvent Pelham National Bank, was authorized yesterday by an order of Federal Judge Francis G Caffey filed in the United States District Court here to sell the personal property of the bank The order which was obtained by the firm of Stancliffe and attorneys for Mr permits the 220 items of property vate at prices Mr. with and its creditors Included in the articles to be sold an oak 12 oak arm a night deposit safe, miscellaneous lot of desks. chairs and tables lamps, electric fans, advertising signs burglar alarm, 949 safe deposit boxes, eight flag and standard mimeograph day machine, four bookkeeping machines, filing cabinets, three adding machines, typewriters, checkwriters, four revolvers and numerous other items 2 NEW YORK BANKRUPTS HAVE COUNTY CREDITORS Special to Standard NEW YORK, April 21. Andrew Mack of New Rochelle, is listed as one of the creditors of Branigan Chemist Inc., of 1981 Broadway, New York City for which schedule in bankruptcy was filed yesterday in the United States Dis trict Court here The schedule lists liabilities totaling $15,031.70 the New Rochelle resident is for $70 Emma Bremer of 235 Monterey Avenue, Peliam, is listed as creditor of Charles Belsky, an un dertaker of 306 East 72nd Street New York City, who filed voluntary petition yesterday The petitioner listed liabilities totaling $124,803.68 and assets of $100 The claim of the Pelham resident is for $3,000. CHAMP HEADS FIGHT TEAM STATE COLLEGE Pa Mike Zeleznock Beaver Meadows who recently won the 125-pound championship of the Eastern Intercollegiate Boxing Association. has been elected captain the Pennsylvania State College boxing team for next season He also memher of the football and baseball squads.
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PYNE FIGHTS COURT ORDER Pelham Bank Receiver Appeals In Action to Collect Assessment NEW YORK, May order allowing Warner L. Pyne, receiver the insolvent Pelham National for Bank, to appeal from decision by Judge Henry W. Goddard Federal by Federal signed Robert Patterson in Judge United States District Court. The order was signed on presentation Hardy, attorneys for the assignment of errors tended have been made by Goddard. Judge Patterson Judge directed that the matter be ferred to the Circuit Court of peals. Goddard signed an order Judge April 10 directing two motions made in suit brought by against Charles Avenue, Pelham
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DEMOCRATS LOSE COMMITTEE HEAD AS PYNE RESIGNS Closed Bank's Receiver Gives Reason as 'Overburden of Other Work' Warner Pyne. for the past four years chairman of the Pelham Democratic Town Committee. resigned last night. His resignation was accepted with regret by the Committee at a meeting at which Mrs. Alice Sweeney, vice-chairman, presided. Mr Pyne, who is Receiver for the closed Pelham National Bank and also has law practice in New York City, gave as his reason for resigning 'an overburden of other work in his letter addressed to James Connolly, secretary of the committee. Mrs. Sweeney will act as chairman until successor to Mr. Pyne has been chosen after the party primaries in September in accordance with State statutes and party rules. The committee last night designated Mr. Pyne as delegate to the State convention. and designated Mrs. Sweeney as alternate Other designations made were: delegate to judicial convention, James F. Carroll: Solon J. Liebeskind.
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Depositors Combine To Seek Information Special Herald MAMARONECK, Sept. 17. A move that may in an investigation into the activities of the officers and of the First National Bank in Mamaroneck before the defunct institution closed 20 months ago is under way today as the result of mass meeting of about 400 depositors. After an address by Dudley A Wilson, chairman of the depositors committee of the closed Pelham National Bank, of which nine officers and directors have been indicted, the meeting formed itself into the 'Depositors' Association of Mamaroneck' which has for its objective the obtaining of "all available information on the condition the local bank. Hurlbert McAndrew, local attorney, who played leading part in the move to prevent Bank Receiver H. E. Meeker from selling the $460,000 bank building to Howard Ardrey of Rye in exchange for property appraised at $100,000 that Ardrey owns in Rye, is chair man of the appointed by the to act as its agent in all bank matters.
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DEPOSITORS MEET, 400 Unite to Investigate Defunct Mamaroneck Institution Sept. 17 move may culminate investigation into the officers and directors the the First National Bank Mamaroneck the defunct stitution closed months the result of under meeting 400 depositors mass with funds frozen the bank held After by Dudley Wilson, of the depositor's committee the closed Pelham National Bank, where nine officers and directors have been indicted. the meeting formed itself into the Association maroneck' which has for its objective the obtaining availinformation the condition able the local Hurlbert local torney who played leading part the move present Bank Receiver Meeker from selling $460,000 bank building to Howard Ardrey of Rye in exchange for property appraised $100,000 that Ardrey owns Rye, chairman of the committee which has been appointed by the association act its agent in all bank
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SCANS Checks, Slips Admitted As Evidence During Pelham Trial NEW Nov. Government today continued putting into the record of the trial three former Pelham National Bank officers hundreds of letters and bank slips to support charges of misapplication of funds. Mrs. Catherine former bookkeeper when John Brook Carroll Latimer and Clyde Brown. other defendofficers the closed bank, resume the witness stand later the day for examination testimony cerning methods used in keeping the Before Mrs. Baker Herman Falk. counsel for Brook objected the introduction of the checks, letters and bank slips evidence. Mr. Falk said question the documents but did question their admissability. overruled by Federal Judge Alfred Coxe the admitted. Frank Saporito and Thomas attorneys for the other the Brown and Latimer did join Falk objection but reserved right seek the records out of the case later date. The Government seeking through Mrs. Baker to identify the various charges made the suspension account which Assistant United States District Attorney Charles Murphy claims used connection with note transactions. Welss Questioned Data support of allegations the introduced Government yesterday through both ployes the Pelham bank. Mrs. Catherine Baker the last witness of day. the and will again take the stand today Herbert former countant for Brooks and the erous corporations controlled by