4c6235e4Partial suspension
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RECEIVERS APPOINTED FOR PROVIDENCE BANKS Associated Press. Providence, R. I., October 25.-Receivers were appointed today for the Union Trust Company and the New England Trust Company, but the ninety days' notice will be invoked. The Industrial Trust Company withstood an all days' run.
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PROVIDENCE CRISIS MET After Eventful Day Banking Circles Feel Confident. Providence, R. I., Oct. 25.-Although a temporary receiver has been appointed for one trust company, another company is enforcing the rule requiring a notice of ninety days for the withdrawal of deposits and a third has withstood throughout the day an unusual drain caused by the withdrawal of deposits, it is believed generally in Providence banking circles to-night that the crisis has been met and passed successfully. The bank for which a receiver was appointed was the Union Trust Company, an institution with headquarters at Westminster and Dorrance streets, in this city, and operating branches in Olneyville, Central Falls and East Greenwich. This is the bank on which the run started yesterday noon and continued until the close of business hours. Long before the hour of opening to-day there was a long line of depositors waiting to withdraw their accounts, and it was decided by the bank officials not to open the institution. Notices were posted in the headquarters of the bank in this city and in the three branches at 9 o'clock that the bank would not open on account of the stringency of the money market. The next step was the application for a temporary receiver. The petitioner was Archibald G. Loomis, one of the vice-presidents of the institution, who in his petition alleged that the company was insolvent Justice William H. Sweetland, of the Superior Court, appointed Cornellus S. Sweetland, another vice-president of the company, temporary receiver. The New England Trust Company, with banking rooms at Westminster and Eddy streets, put into operation to-day the rule requiring all depositors to give ninety days notice of the withdrawal of deposits. The officers of the bank declined to discuss the matter, referring all inquiries to General Charles A. Wilson, the bank's counsel, who stated that, in his opinion, the company was in no condition to stand a run and that the ninety days' rule had been invoked for the protection of the bank and its depositors. According to the last report made by the New England Trust Company to the state auditor the resources of the institution were $642,884, against a capital stock of $140.000, deposits of $464,755 and undivided profits of $27,754. William R. Dunham is president of the company and William A. Taylor its vicepresident and secretary. The chief interest of the day centred, however, about the Industrial Trust Company, at Westminster and Exchange streets, one of the leading financial institutions in New England, operating nine branches throughout the state. At this bank a run was in progress throughout the day. The bank officials, fearing that the timidity of the depositors might be affected adversely by the general financial situation, were prepared for the emergency, and four paying tellers were stationed at the windows ready to pay the depositors who wished to close their accounts. The tellers worked rapidly, paid all demands and at no time during the day did the line of persons seem to grow faster than the tellers were able to care for it. The bank stood the strain successfully and when business closed at 3 o'clock there were no signs of excitement or disorder on the part of the depositors. During the day a committee of nine prominent business men of the city, in their desire to avert a panic, made an examination of the books and securities and cash of the Industrial Trust Company and its branches, and reported that the institution was in sound condition. When business closed at the Industrial Trust Company this afternoon the report of the committee of nine was read to the crowd, after which Arthur L. Kelley, one of ,the directors. addressed the depositors and told them that one person who had withdrawn his money had again deposited it, as he was satisfied that the bank was on a sound basis. He extended an offer on the part of the bank to receive any other books which depositors might care to return on condition that they also draw interest as if they had not been taken out. As a result of this announcement several persons regained their confidence and handed back their accounts. Waldo M. Place, assistant treasurer of the Industrial Trust Company, stated to-night that the bank would be open for business as usual to-morrow morning The cause for the extraordinary demands upon the three trust companies is not absolutely known, but they are believed to be due in part to the New York situation and partly to the fact that Marsden J. Perry, first vice-president of the Union Trust Company, was supposed to be closely connected with the Trust Company of America, the New York institution on which such unusual demands have been made for the last few days. In a statement late to-day Mr. Perry said that the situation seemed very encouraging and that he was confident that the bank would be reopened. He said, however, that he could not
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bankers, $296,357; capital and other cash Items, $1,191,962; redemption fund, $5,500. Total, $5,820,382. "Liabilities: Capital stock, $300,000; surplus, fund and undivided profits, $601,345; circulating notes, $300,000. due to banks and bankers. $1,065,068, deposits, $3,220,706; notes and bills rediscounted, $225,000; reserved for taxes, $8,263. Total, $5,820,382." CRISIS HAS BEEN PASSED IN PROVIDENCE SITUATION Providence, R. I., Oct. 25.-Although a temporary receiver was aappointed for one trust company, while another company is enforcing the rule requiring ninety days' notice of withdra wal, and a third withstood a heavy run, it was believed generally in Providence banking circles tonight, that the local crists had been passed. The bank for which a receiver was appointed was the Union Trust Company, an institution with branches in Olneyville, Central Falls and East Greenwich. This is the bank on which the run started yesterday, Cornellus S. Sweetland, Vice-Prestdent. was named as receiver. The New England Trust Company today put into operation the rule requiring all depositors to give ninety days' NOtice of withdrawals. Gen. Charles A. Wilson, the bank's counsel. said that the company was in no condition to stand a run, and that the rule had been invoked for the protection of depositors. Much of the interest of the day centered about the Industrial Trust Company. operating nine branches in Rhode-Island. At this bank a run was in progress throughout the day. Tellers paid all demands.
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Banks Meet All Demands. Pawtuckett, R. I., October 25.--Following the posting of the ninety-day notice to depositors by the local branch of the New England Trust company of Providence, runs were started on all banks in Pawtucket. With the exception of the New England Trust company. All the banks met the demand without difficulty.
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BANKS WITHSTAND RUN. Providence Institutions Issue Notices of Withdrawal. / Providence, R. I., October 25. Although a temporary receiver was appointed for one trust company, while another company is inforcing the rule requiring 90 days notice of withdrawal and a third withstood a heavy run, it was believed generally in Providence banking circles tonight that the local crisis had been passed. The bank of which a receiver was appointed was the Union Trust company, an institution with branches in Olneyville, Central Falls and East Greenwich. This is the bank on which the run started yesterday. Cornellus S. Sweetland, vice president, was named as receiver. The New England Trust company today put into operation the rule requiring all depositors to give 90 days notice of withdrawals. Gen. Charles A. Wilson, the bank's counsel, said that the company was in no condition to stand a run and that the rule had been invoked for the protection of depositors. Much of the interest of the day centered about the Industrial Trust company, operating nine branches in Rhode Island. At this bank a run was in progress throughout the day. Tellers met all demands.
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To Prevent Threatened Run. Providence, R. I., Oct. 26.-The New England Trust company of this city has posted a notice demanding ninety days' notice of withdrawal of deposits. General Charles A. Wilson, counsel for the bank, is authority for the statement that the action was taken to prevent a threatened run on the company.
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RECEIVER FOR UNION TRUST CO. Providence Institution Compelled to Post Notice on Account of Stringency. BRANCHES ALSO CLOSED ACTION TAKEN TO PROTECT DEPOSITORS. Providence, R. I., Oct. 25.-The Union Trust company, on which there was a run yesterday, did not open for business at 9 o'clock, the usual hour. As early as 6 o'clock this morning depositors began to form a line outside the entrance to the bank, and half an hour before the opening time there were more than 150 persons in line. There also was a detail of police to keep order. Shortly after 9 o'clock the following notice was posted: "This bank will not open today. owing to the stringency of the money market.' Up to a late hour last night the officers of the company expected to open today, but subsequent consultations brought a decision that in view of the tight money market the interests of the depositors would be conserved by closing. June Statement. According to the statement issued on June 29 last the bank had resources aggregating $28,238,335. Its liabilities included besides the $500,000 capital stock, a surplus of $2,250,000, undivided property of $22,709, and deposits of $25,465,625. J. Edward Studley is president of the institution and Marsden J. Perry is first vice president. An investigation was made today of the financial condition of the Industrial Trust company. A statement was issued. declaring the company in a sound condition and entirely worthy of credit. The institution continued paying depositors to the close of business and was then said to be able to meet all demands. Receiver Appointed. A director of the Union Trust company, alleging that the institution was insolvent, today petitioned the superior court to appoint C. S. Sweetland a director of the bank, as temporary receiver. The receiver was appointed. Hearing will be had November 6. Marsden J. Perry gave out an announcement that the Union Trust company found itself unable to immediately meet all its obligations. He said while the assets are amply sufficient to satisfy all claims under normal conditions, it is impossible to obtain suffiicent money at present to meet the demand precipitated by financial disaster in other cities, to institutions in which the Union Trust company is in no way involved. He added: "Personally I do not owe a cent directly or indirectly to the Union Trust company." Will Take Ninety Days. The New England Trust company of this city posted a notice today requiring the legal ninety days' notice of withdrawal of deposits. The action was taken to prevent a threatened run. The New England Trust company, which invoked the ninety days' law, is one of the smaller institutions. It has a capital of $140,000, surplus of about $35,224, and deposits of $363,949.
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draw their accounts Friday. The bank owes depositors about $2,500,000. Another Trust Company Fails. The Jenkins Trust company of Brooklyn, not an important institution, closed its doors Friday afternoon. Its total deposits was about $2,500,000. Dime Savings Bank Closed. The Union Dime Savings bank at Thirty-second street and Broadway, Friday afternoon posted a notice that it will require 60 days' notice from depositors desiring to withdraw. It has $27,450,000 due to depositors. Receivers for Knickerbocker. Upon application of State's Attorney General Jackson temporary receivers were appointed Friday for the Knickerbocker Trust company, which closed its doors on Tuesday after a run by its depositors. The receivers are Otto T. Bannard, Ernest Thalmann and Gen. Henry C. Ide, all of New York city. Receivers for Knitting Mills. Philadelphia, Oct. 26.-The Pennsylvania Knitting Mills, of Reading, Pa., manufacturers of hosiery, a Heinze company, affiliation, against whom a petition in bankruptcy was filed Thursday had receivers appointed for it Friday by Judge McPherson in the United States district court. The receivers are Jacob Bauer and George W. Chapin, both of this city. The cause of the concern's embarrasment is laid to the present unsettled financial situation and by attachments secured by creditors in the New York court. The liabilities are placed at about $600,000 and the assets at $2100000 Bank at Providence Suspends. Providence, R. I., Oct. 26.-Cornelius A. Sweetland was appointed temporary receiver of the Union Trust company of Providence by the Superior court, following the run on the bank Thursday. The officers of the company expected to open Friday but subsequent consultations brought a decision that in view of the tight money market the interests of the depositors would be conserved by closing. The Union Trust company was organized in 1894 with a capital of $500,000. It conducts several branches in this state. According to the statement issued on June 29 last the bank had resources aggregating $28,238,335. Its liabilities included beside the capital stock a surplus of $2,250,000, undivided profits of $22,709 and deposits of $25,465,626. J. Edward Studley is president of the institution and Marsden J. Perry is first vice president. New England Trust Closes. Providence, R. I., Oct. 26.-The New England Trust company of this city, posted a notice Friday requiring 90 days' notice of withdrawal of deposits. Gen. Charles A. Wilson, counsel for the bank, is authority for the statement that the action was taken to prevent a threatened run on the company. Savings Bank Closes. Baltimore, Md., Oct. 26.-The run on the east branch of the Home bank continued Friday morning and shortly before noon the depositors who were in line waiting to secure their money were notified that the bank would take advantage of a charter provision which permits the institution to demand 60 days' notice of a depositor's intention V to withdraw his or her account. member of the firm of Bernstein, Cohen & Co., owners of the bank, admitted that the run had been of much larger proportions than had been reported. He said that it had begun on Monday, and that a total of savings deposits of $200,000 or thereabouts, approximately $150,000 had been withdrawn. Only the east branch of the bank is affected, and this only in its savings department. Close at East Greenwish. East Greenwich, R. I., Oct. 26.-The East Greenwich branch of the Union Trust company of Providence did not open its doors Friday morning. A notice was posted stating that the branch was being kept closed for the protection of depositors. Branch Bank Also Closes. Central Falls, R. I., Oct. 26.-The Central Falls branch of the Union Trust company of Providence opened its doors Friday morning, but closed them again at 9:20. There was a large crowd about the institution. mainly mill
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Sweetland Named. Providence, Jan 20.-Justice Sweetland in the superior court to-day appointed John Hilton, treasurer of the New England Trust company, of this city, as temporary receiver of the institution. The trouble was due to inability to recover from the difficulties which developed in the pauie of 1907.
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BRIEF BITS OF NEWS. Greer college and the high school at Hoopeston, Ill., have been closed because of an epidemic of diphtheria in that city. Justice Sweetland has appointed John B. Hilton, treasurer of the New England Trust company of Providence, R. I., as temporary receiver of the institution. William Gillies, consulting engineer of the Illinois Steel company, was found dead on the sidewalk at Chicago. It is believed that he fell on the sidewalk and fractured his skull. Lord Curzon of Kedleston, ex-viceroy of India, has received a majority of the votes cast in the election to fill the vacancy among the representative peers of Ireland caused by the death last November of Lord Kinmaine. There are 13,877,426 Roman Catholics in the United States, according to the advance sheets of the 1908 Wiltzius Catholic directory, published in Milwankee. These figures show an increase of 788,093 over last year.
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Receiver Appointed. Providence, R. I., January 20.-Justice Sweetland, 112 the superior court this afternon appointed John P. Hilton, treasurer of the New England Trust company of this city, as temporary receiver of the institution. No statement was given out by the trust company as to the cause of the difficulty.
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NEW ENGLAND TRUST CO. IN HANDS OF RECEIVER. No Statement of Cause of the Difficulty Is Given. Providence, R. I., Jan. 21.-Justice William P. Sweetland in the superior court yesterday afternoon appointed John P. Hilton, treasurer of the New England Trust company of this city, as temporary receiver of the institution. No statement was given out by the trust company as to the cause of the difficulty. The trust company was organized June 15, 1902. Its capital stock is $140,000, and its deposits, according to a statement issued last June, was $464,754. William R. Dunham is president.
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COMMERCIAL $97,000,000 In Certificates. According to a statement prepared by President Alexander Gilbert of the New York Clearing House association. from Oct. 22 to the close of December, 1907, the association issued certificates to the amount of $97,000,000. These were not all in use, however, at any one time, and Mr. Gilbert places the amount actually utilized by the banks to effect their exchanges at $74,000,000. The retirement of these certificates has been rapid, and the amount now outstanding is much below the above figures. The issuance of these certificates, Mr. Gilbert says, furnishes the best object lesson of an emergency currency, one that is perfectly secure and one that can be put into effect without any complicated bank machinery. Providence Bank Suspends. The New England Trust company of Providence, R. I., failed to open its doors Jan. 20, and Justice Sweetland of the superior court appointed John B. Hilton, its treasurer, temporary receiver and set a hearing on the question of making the receivership permanent. To weather the financial storm of last October the company invoked the rule requiring ninety days' notice of withdrawal of deposits. Morgan Closed Toronto Bank. The immediate cause of the recent suspension of the Sovereign Bank of Toronto, Ont., is said to be the refusal of J. Pierpont Morgan, acting for himself and the Dresdner bank. to make any further advances, though it is thought that the sum of $500,000 would have enabled the bank to pull through. The present debt of the bank to the Morgan interests is $2,241,000. Dramatic Trust Formed. An organization has been formed for the purpose of effecting practically a control of the dramatic material needed by the hundreds of play companies in America. Miss Marbury. the play broker. is president, and the company will have offices in New York, with branches in Chicago, London, Paris, Berlin and Vienna. It is said that the "trust" already controls about ninetenths of the foremost playwrights of England, France, Germany, Austria and Italy, and the number of authors enrolled on the books runs into the hundreds. The intention is to handle no unacted plays, but merely dramas with reputations already established. Why Lawson Quit. In a letter to Editor Ridgway. published in the February Everybody's. Thomas W. Lawson tells at length the
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RHODE ISLAND PROVIDENCE, R. I., Jan. 29.-After having passed the greater part of their lives quietly and uneventfully in a farm house, Jonathan King and his wife Abby, died Sunday night together. The wife passed away at 8:40 o'clock and a few minutes later the husband died. In both cases death was due to old age. Mr. King was 84 years. old and his wife 88 years. Announcement was made today that the plant of the Fitch Manufacturing company, at Thornton, makers of eiderdown, is to be sold under the hammer on February 5, as the result of a mortgage foreclosure. After standing three successive runs within six months the New England Trust company today went into the hands of a temporary receiver. Superior Judge William P. Sweetland appointed the company's treasurer, John P. Hilton, to act in that capacity. The New England Trust on October 25 last posted a notice requiring ninety days' notice of withdrawal of deposits. This was following the runs. The company's last report to the state auditor showed its resources to be $642,883. It then carried $396,793 in savings deposits. In June last all deposits amounted to $467,754. The receiver is hopeful of putting the company through its difficulties.
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COMMERCIAL $97,000,000 In Certificates. According to a statement prepared by President Alexander Gilbert of the New York Clearing House association. from Oct. 22 to the close of December, 1907, the association issued certificates to the amount of $97,000,000. These were not all in use, however, at any one time, and Mr. Gilbert places the amount actually utilized by the banks to effect their exchanges at $74,000,000. The retirement of these certificates has been rapid, and the amount now outstanding is much below the above figures. The issuance of these certificates, Mr. Gilbert says, furnishes the best object lesson of an emergency currency, one that is perfectly secure and one that can be put into effect without any complicated bank machinery. Providence Bank Suspends. The New England Trust company of Providence, R. I., failed to open its doors Jan. 20, and Justice Sweetland of the superior court appointed John B. Hilton, its treasurer, temporary receiver and set a hearing on the question of making the receivership permanent. To weather the financial storm of last October the company invoked the rule requiring ninety days' notice of withdrawal of deposits. Morgan Closed Toronto Bank. The immediate cause of the recent suspension of the Sovereign Bank of Toronto, Ont., is said to be the refusal of J. Pierpont Morgan, acting for himself and the Dresdner bank, to make any further advances, though It is thought that the sum of $500,000 would have enabled the bank to pull through. The present debt of the bank to the Morgan interests is $2,241,000. Dramatic Trust Formed. An organization has been formed for the purpose of effecting practically A control of the dramatic material needed by the hundreds of play companies in America. Miss Marbury, the play broker, is president, and the company will have offices in New York, with branches in Chicago, London, Paris, Borlin and Vienna. It is said that the "trust" already controls about ninetenths of the foremost playwrights of England, France, Germany, Austria and Italy, and the number of authors enrolled on the books runs into the hundreds. The intention is to handle no unacted plays, but merely dramas with reputations already established. Why Lawson Quit. In a letter to Editor Ridgway, published. in the February Everybody's, Thomas W. Lawson tells at length the
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COMMERCIAL $97,000,000 In Certificates. According to a statement prepared by President Alexander Gilbert of the New York Clearing House association, from Oct. 22 to the close of December, 1907, the association issued certificates to the amount of $97,000,000. These were not all in use, however, at any one time, and Mr. Gilbert places the amount actually utilized by the banks to effect their exchanges at $74,000,000. The retirement of these certificates has been rapid, and the amount now outstanding is much below the above figures. The issuance of these certificates, Mr. Gilbert says, furnishes the best oblect lesson of an emergency currency, one that is perfectly secure and one that can be put into effect without any complicated bank machinery. Providence Bank Suspends. The New England Trust company of Providence, R. I., failed to open its doors Jan. 20, and Justice Sweetland of the superior court appointed John B. Hilton, its treasurer, temporary receiver and set a hearing on the question of making the receivership permanent. To weather the financial storm of last October the company invoked the rule requiring ninety days' notice of withdrawal of deposits. Morgan Closed Toronto Bank. The immediate cause of the recent suspension of the Sovereign Bank of Toronto, Ont., is said to be the refusal of J. Pierpont Morgan, acting for himself and the Dresdner bank, to make any further advances, though it is thought that the sum of $500,000 would have enabled the bank to pull through. The present debt of the bank to the Morgan interests is $2,241,000. Dramatic Trust Formed. An organization has been formed for the purpose of effecting practically a control of the dramatic material needed by the hundreds of play companies in America. Miss Marbury, the play broker, is president, and the company will have offices in New York, with branches in Chicago, London, Paris, Berlin and Vienna. It is said that the "trust" already controls about ninetenths of the foremost playwrights of England, France, Germany, Austria and Italy, and the number of authors enrolled on the books runs into the hundreds. The intention is to handle no unacted plays, but merely dramas with reputations already established. Why Lawson Quit. In a letter to Editor Ridgway. published in the February Everybody's. Thomas W. Lawson tells at length the
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to the amount of $97,000,000. These were not all in use, however, at any one time, and Mr. Gilbert places the amount actually utilized by the banks to effect their exchanges at $74,000,000. The retirement of these certificates has been rapid, and the amount now outstanding is much below the above figures. The issuance of these certificates, Mr. Gilbert says, furnishes the best object lesson of an emergency currency, one that is perfectly secure and one that can be put into effect without any complicated bank machinery. Providence Bank Suspends. The New England Trust company of Providence, R. I., failed to open its doors Jan. 20, and Justice Sweetland of the superior court appointed John B. Hilton, Its treasurer, temporary receiver and set a hearing on the question of making the receivership permanent. To weather the financial storm of last October the company invoked the rule requiring ninety days' notice of withdrawal of deposits. Morgan Closed Toronto Bank. The immediate cause of the recent suspension of the Sovereign Bank of Toronto, Ont., is said to be the refusal of J. Pierpont Morgan, acting for himself and the Dresdner bank, to make any further advances, though it is thought that the sum of $500,000 would have enabled the bank to pull through. The present debt of the bank to the Morgan interests is $2,241,000. Dramatic Trust Formed. An organization has been formed for the purpose of effecting practically a control of the dramatic material needed by the been of nlay companie in America VISS Marburs. the pla broker. 18 president, and the compan will have offices in New York, III branches in Chicago, London, Part Berlin and Vienna. It is said that the "trust" already controls about nine tenths of the foremost playwrights of England, France, Germany, Austria and Italy, and the number of authors enrolled on the books runs into the hundreds. The intention is to handle no unacted plays, but merely dramas with reputations already established. Why Lawson Quit. In a letter to Editor Ridgway, published in the February Everybody's. Thomas W. Lawson tells at length the
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COMMERCIAL $97,000,000 In Certificates. According to a statement prepared by President Alexander Gilbert of the New York Clearing House association, from Oct. 22 to the close of December, 1907, the association issued certificates to the amount of $97,000,000. These were not all in use, however. at any one time, and Mr. Gilbert places the amount actually utilized by the banks to effect their exchanges at $74,000,000. The retirement of these certificates has been rapid, and the amount now outstanding is much below the above figures. The issuance of these certificates, Mr. Gilbert says, furnishes the best object lesson of an emergency currency. one that is perfectly secure and one that can be put into effect without any complicated bank machinery. Providence Bank Suspends. The New England Trust company of Providence. R. I., failed to open its doors Jan. 20, and Justice Sweetland of the superior court appointed John B. Hilton, its treasurer, temporary receiver and set a hearing on the question of making the receivership permanent. To weather the financial storm of last October the company invoked the rule requiring ninety days' notice of withdrawal of deposits. Morgan Closed Toronto Bank. The immediate cause of the recent suspension of the Sovereign Bank of Toronto, Ont., is said to be the refusal of J. Pierpont Morgan, acting for himself and the Dresdner bank, to make any further advances, though it is thought that the sum of $500,000 would have enabled the bank to pull through. The present debt of the bank to the Morgan interests is $2,241,000. Dramatic Trust Formed. An organization has been formed for the purpose of effecting practically a control of the dramatic material needed by the hundreds of play companies in America. Miss Marbury, the play broker. is president, and the company will have offices in New York, with branches in Chicago, London, Paris, Berlin and Vienna. It is said that the "trust" already controls about ninetenths of the foremost playwrights of England, France, Germany, Austria and Italy, and the number of authors enrolled on the books runs into the hundreds. The intention is to handle no unacted plays, but merely dramas with reputations already established. Why Lawson Quit. In a letter to Editor Ridgway, published in the February Everybody's. Thomas W. Lawson tells at length the
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Receiver Made Permanent. Providence, R. I., February 8.-John B. Beagan, an attorney of this city, was appointed permanent receiver of the New England Trust company after hearing before Judge Sweetland in the superior court today. In reporting to the court on the condition of the trust company, which suspended on January 18, Temporary Receiver Hilton stated that the prospects for an early dividend to depositors were not bright, and that the affairs of the institution were very much involved.
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BANKER TAYLOR ARRESTED. New England Trust Company Official Charged With Conspiracy. PROVIDENCE, March 27.-Thomas D. Taylor, originator of the Taylor system of banking, was arrested in this city late this afternoon on a writ of trespass charging conspiracy and alleging damages of $350,000. Taylor was taken to the office of United States District Attorney Charles A. Wilson. who is his counsel. Late to-night Taylor had not been able to furnish bail, the amount required being the amount of the alleged damages. The action was brought at the instigation of John P. Reagan, receiver of the New England Trust Company. Mr. Reagan said this evening that the bringing of the suit was in his own opinion and in the opinion of his counsel the only course left to him in view of what he had learned of the history of the New England Trust Company. The action was taken, he said, after he had spent much time following up the intricacies of the company's relations with other concerns.
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NEW ENGLAND TRUST CASE. (Special to The Sentinel.) Providence, R. I., Dec. 18. - The case of William R. Dunham against the New England Trust company, a petition for the appointment of a receiver, is on the calendar of the superior court for a hearing tomorrow. Much interest has been manifested in the hearing, as it was in connection with this matter that Thomas D. Taylor, who was formerly identified with the New England Trust company, was taken into custody on a charge of conspiracy brought by John P. Beagan, the receiver of the New England Trust company. and being unable to secure bail in the amount of $350,000, has been at the Providence county jail since the first of April.
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NEW ENGLAND st TRUST CASE d y TO COME UP Thomas D, Taylor, Who Tried To Steal $350,000 is Still in Providenee Jail. # Providence, R. I., Dec. 18.-The case of Willian R. Dunham against the New England Trust Company, a petition for the appointment of a receiver, is on the calendar of the superior court for a hearing tomorrow. Much interest has been manifested in the hearing. as it was in connection with this matter that Thomas D. Taylor, who was formerly identified with the New England Trust Company, was taken into custody on a charge of conspiracy brought by John P. Beagan, the receiver of the New England Trust Company, and being unable to secure bail in the amount of $350,000, has been at the Providence county jail since the first of April. ta Taylor, following his being taken $3 into custody, undertook through hath beas corpus proceedings, to secure his sa elcase: He had a hearing before the M upreme court on April 29. He made le the contention that his imprisonment pr and detention was brought about by to unlawfully enticing him within the jurisdiction of the Rhode Island courts and then effecting his arrest, he which, he alleges, was, therefore, W void and subsequent confinement ilfo legal. He claimed too, that Mr. Beagan, the receiver, was the one who, ne personally or through agents, enticed an him to this city by representation po that a mere friendly conference as to 00 the bank's affairs was wished, and claimed further that such representation was false and that it was the sole R object of bringing about his arrest. sh The supreme court after the hearsu ing returned its findings, denying the $1 writ of habeas corpus and declaring th that the service of the writ upon Taygo lor was not procured by fraud of Mr. ca Beagan or his agents. At the hearing there was considiss erable testimony presented to show su that Taylor came to this city March in 25 on invitation of certain menhrd $7 25 on the invitation of certain men th who had been connected with the New Pa Engladn Trust Company as directors and who had given Taylor to undersu stand that the receiver desired to diswl cuss some matters with him relative ra 11 the bank's affairs. There was also wa testimony presented to show that Mr. ex Beagan was not aware of this invitatic tion and knew nothing of Mr. Tayfre br's being in this city March 25 until bo a third party told him.
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# TYPHOID IN RHODE ISLAND JAIL. Three Guards at Cranston Institution Afflicted -Prisoners Show Signs of Disease. Cranston, R. I., Aug. 23. -Three guards of the Providence County jail here have been taken to the Rhode Island State Hospital at Providence, suffering from typhoid fever, and two others are at their homes near the jail, with the same symptoms, while three prisoners are suspected of being afflicted. Among the prisoners is Thomas D. Taylor, former head of the defunct New England Trust Company, of Providence, who has been in the institution for more than a year pending the raising of $350,000 bail on civil suits brought by the receiver of the bank.