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Head of Closed Bank Ends Life With Gun LARCHMONT N. Y., April (AP -Samuel R. Bell, president of the Larchmont National Bank and Trust Company, shot and killed himself today His bank had been closed and in the hands of a conservator since the national bank holiday.
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TREASURY DELAYS RECEIVER ACTION Protests Against Proposal at Larchmont Hold Up Appointment A protest against the appointment of receiver for the closed Larchmont National Bank and Trust Company has indefinitely any such action by the Treasury Department, it was learned Announcement would be named followed the appearance in Washington of Joseph S. Johnston, Larchmont village attorney and counsel for the depositors of the bank. Although Mr Johnston denied earlier this week reports he had requested receiver. he stated in the course of his conversation with officials of the Treasury Department had been told one would be appointed. Pending complete investigation of the situation. the Department has now declined to name the receiver Further than to admit no action had been taken and it was being held up because proofficials of the department maintained complete silence about matter Earlier indications were that if were appointed for the bank would be one of the regular receivers on the staff of the Comptroller the Currency. In view of the heavy demand for bank receivers this time. however, now appears if one is named he an "outside" man. probably a resident of Westchester County
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BANK WOMAN TRAPPED RECEIVER NAMED Major Brooks Appointed to Supervise Liquidation of Closed Institution Major Franklin Brooks of Larchmont, York and dependent Republican candidate for Supervisor from the Town of Mamaroneck this Fall, has been appointed receiver of the closed Larchmont National Bank and Trust Company, was learned day. He succeeds Irvin Clary, conservator. The bank was one of those which failed open after the expiration the bank holiday in From that time until two weeks special depositors' commitappointed by Mayor Munroe Stiner worked in vain attempt to or reorganize institureopen but finally disbanded without accomplishing its purpose Although the process of liquidation expected to start shortly Major Brooks stated today he could what percentage the deposits would be realized. Rumors been current some time depositors might receive 50 cents on the lar, these never been officially confirmed.
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LARCHMONT BANK WOMAN TRAPPED RECEIVER NAMED AS AUTO UPSETS Major Brooks Appointed to Supervise Liquidation of Closed Institution Major Franklin Brooks of Larchmont York attorney and dependent Republican candidate for Supervisor from the Town this Fall, has been appointed receiver of the closed Larchmont National Bank and Trust was learned day He succeeds Irvin Clary The bank one of those which failed to open after the expiration of the bank holiday March From that time until two weeks ago special depositors' committee appointed by Mayor Munroe Stiner attempt to reopen reorganize institution, but finally disbanded without accomplishing its purpose Although the of liquida tion expected to start shortly Brooks stated today he could of what percentage the deposits would Rumors have been rent for some time depositors might receive 50 cents on the dollar, but these have never been officially confirmed. Passersby Extricate Mrs. Frederick Berry From Wreck Mrs. Emma Berry, 52 of 110 Mildred Parkway. was badly hurt this morning when her roadster struck pole and overturned at the intersection of Van Meter and Taymill pinning her beneath wreckage John Hicks. of 132 Taymill Road hurried from his home the sound of the crash Assisted by unidentified passerby he lifted the car extricated the woman and drove her to her home She complained partial paralysis of the legs and rushed by her husband Frederick to New Rochelle Hospital where she undergoing X-ray examination this afternoon Everything suddenly went black and fainted while traveling south ward on Meter Mrs. Berry told Patrolman Martin Dufficy in explanation of the accident. Members the Berry household voiced belief that Mrs. Berry had suffered heart attack. Mrs. Berry returned to consciousness after the crash and lay, trapped the badly damaged car, until her rescuers arrived.
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BROOKS REQUESTS CLAIMS FILED Last-Minute Action May Boost Expenses of Bank. He Warns All persons with claims against the closed Larchmont National Bank and Trust Company urged to present them immediately, Major Franklin Brooks, bank receiver, informed members of the Larchmont Lions Club yesterday noon. Although depositors legally have three months in which to present their claims. Brooks warned the club that leaving to the last minute may force the bank to add its staff of employes and thus reduce amount of money to realized on the deposits Major Brooks spoke briefly on subjects connected with the closed institution. answering questions from the floor. He stated. he prevented by law from many which concerned the bank's private affairs. was made that the golf match with the Club tomorrow had been postponed until next week the place and exact date be decided upon later. This will the fourth series games between two service clubs with the Rotarians leading 2-1. George Erickson attended the meeting the guest of Lloyd Harris, and Major Brooks as the guest of Judge Walter C. Burbank.
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BROOKS REQUESTS May Boost Expenses of Bank, He Warns All persons with claims against the closed Larchmont National Bank Trust Company urged to present Major Franklin Brooks, bank informed members the Larchmont Lions Club Although depositors legally have three which present their claims. warned the club that to the last minute may force the bank add staff of employes and thus reduce of money to be the deposits Major Brooks spoke briefly on subjects connected the closed institution answering tions from the floor He stated however he prevented by law from many which concerned the bank's affairs that the golf match with the Rotary Club had postponed until next week the and exact date later. This will the fourth series games between service the Rotarians leading 2-1. George Erickson attended the meeting the guest of Lloyd HarMajor Brooks the guest Judge Walter C. Burbank.
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BROOKS REQUESTS CLAIMS FILED Last-Minute May Boost Expenses of Bank. He Warns All persons with claims against the closed Larchmont National Bank Trust Company urged to present them immediate Major Franklin Brooks, bank receiver, informed members the Larchmont Lions Club yesterday noon. Although depositors legally have three months which present their claims, Major Brooks warned the club that leaving the last minute may force the bank to of employes and thus reduce amount money to realized the deposits. Major Brooks spoke briefly subjects connected the closed institution. answering questions floor stated however, prevented by law from many which cerned the bank's private affairs. the golf match with the Club had until next the place date be decided upon later. This will the fourth series of games between service with the Rotarians leading 2-1. George Erickson attended the meeting the guest Lloyd Harris, and Brooks the guest Judge Walter C. Burbank.
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BANK'S RECEIVER INCLUDED IN SUIT Brooks Named Party Defendant in 2 Court Actions Special to The Standard Star NEW YORK Oct Permission to include Franklin Brooks receiver of the Larchmont National Bank and Trust Company. as party defendant in two suits pending in the Westchester County Supreme Court was granted yes. terday by Federal Judge John M Woolsey the United States Dis trict Court here The first was the request of C Whitney Banks of Oxford Road New Rochelle to include Mr Brooks in suit for the partition of certain premises in the Chatsworth Park section of the Town of Mamaroneck The property is owned jointly by the plaintiff and Robert Keand and Paul W Richardson The reason for including the re. ceiver defendant is that the bank holds three g m against Mr McKeand and others. The judgments are for $469 34 and $484 83 respectively There was no opposition to the motion which was made by the firm of Fauver, Albertson and Scoble of 542 Main Street. New Rochelle The second was brought by Har riet M Morgan of Washington Depot. Conn. through the same at torneys and was likewise granted without opposition The plaintiff won permission to include Mr Brooks as a defendant in foreclosure action she has started against Charles B Lane and Anna M Lane over a $20,000 mortgage The receiver is brought into the case as the bank holds a judgment for $14,189.13 against Mr. Lane
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WIFE COLLAPSES DEFENDING SELF IN DIVORCE SUIT (Continued from page 3) and Mrs. Bell countered with a suit for separation on the grounds of cruelty. Just before his wife collapsed Bell had testified to his knowledge of her romance with one Maurice. He described a raid upon a W. 54th St. hotel, preceded by snooping from a fire escape, and told of Mrs. Bell's frequent drinking parties in mid-Manhattan speakies and swanky Westchester beach clubs. Bell, three years younger than his wife, said he first became suspicious of her actions last April 1, the day his father, the late John W. Bell, president of the Larchmont National Bank, committed suicide over the bank's collapse. He testified she came home "reeking with liquor" and refused to allow his father's body to be brought into the house. Thereafter. Bell said, he decided to have his wife watched. Summoned to Hotel. In June, he testified, John F. Maher, an investigator, called him to the Hotel Elysee, in Manhattan. There he learned that Maurice, carrying a bag, had registered and gone upstairs with Mrs. Bell, remaining four hours. On June 30, while Bell, Maher and two friends were climbing the fire escape of the same hotel seeking to gain admittance to a ninth floor room, where they hoped to find Maurice and Mrs. Bell, an assistant manager caught them. Bell agreed, he said, to telephone to Maurice. The latter said they could come up in fifteen minutes. When they did so, they found Mrs. Bell and Maurice fully dressed. A table was set for luncheon. (Other picture on page 1)
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WIFE COLLAPSES DEFENDING SELF IN DIVORCE SUIT (Continued from page 3) and Mrs. Bell countered with a suit for separation on the grounds of cruelty. Just before his wife collapsed Bell had testified to his knowledge of her romance with one Maurice. He described a raid upon a W. 54th St. hotel, preceded by snooping from a fire escape, and told of Mrs. Bell's frequent drinking parties in mid-Manhattan speakies and swanky Westchester beach clubs. Bell, three years younger than his wife, said he first became suspicious of her actions last April 1, the day his father, the late John W. Bell, president of the Larchmont National Bank, committed suicide over the bank's collapse. He testified she came home "reeking with liquor" and refused to allow his father's body to be brought into the house. Thereafter, Bell said, he decided to have his wife watched. Summoned to Hotel. In June, he testified, John F. Maher, an investigator, called him to the Hotel Elysee, in Manhattan. There he learned that Maurice, earrying a bag, had registered and gone upstairs with Mrs. Bell, remaining four hours. On June 30, while Bell, Maher and two friends were climbing the fire escape of the same hotel seeking to gain admittance to a ninth floor room, where they hoped to find Maurice and Mrs. Bell, an assistant manager eaught them: Bell agreed, he said, to telephone to Maurice. The latter said they could come up in fifteen minutes. When they did so, they found Mrs. Bell and Maurice fully dressed. A table was set for lungheon. (Other picture 8 page 1)
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WIFE COLLAPSES DEFENDING SELF IN DIVORCE SUIT (Continued from page 3) Bell, wealthy New Rochelle mortgage and securities broker. Bell named Maurice of 36 Laurel Place, New Rochelle, and 27 Park Place, Manhattan, and Mrs. Bell countered with a suit for separation on the grounds of cruelty. Just before his wife collapsed Bell had testified to his knowledge of her romancè with Maurice. He described a raid upon a W. 54th St. hotel, preceded by snooping from a fire escape, and told of Mrs. Bell's frequent drinking parties in mid-Manhattan speakies and swanky Westchester beach clubs. Bell, three years younger than his wife, said he first became suspicious of her actions last April 1, the day his father, the late John W. Bell, president of the Larchmont National Bank, committed suicide over the bank's collapse. He testified she came home "reeking with liquor" and refused to allow his father's body to be brought into the house. Thereafter, Bell said, he decided to have his wife watched. In June. he testified, John F. Maher, an investigator, called him to the Hotel Elysee, in Manhattan. There he learned that Maurice, carrying a bag, had registered and gone upstairs with Mrs. Bell, remaining four hours. On June 30, while Bell, Maher and two friends were climbing the fire escape of the same hotel seeking to gain admittance to a ninth floor room, where they hoped to find Maurice and Mrs. Bell, an assistant manager caught them. Bell agreed, he said, to telephone to Maurice. The latter said they could come up in fifteen minutes. When they did so, they found Mrs. Bell and Maurice fully dressed. A table was set for luncheon. (Other picture on page 1)
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BROOKS HOPEFUL OF EARLY FUNDS Larchmont National Bank Receiver Expects Dividend in December Major Franklin Brooks, receiver for the closed Larchmont National Bank and Trust Company, today expressed the hope depositors in the institution would receive payment of percentage of their accounts early in December With the receiver and his staff working day and night. it is expected by the end of this week or the beginning of next an application will be filed through Washington for loan from the Reconstruction Financ Corporation to make the dividends possible. Granting of loans to closed banks has been inaugurated as means of securing immediate relief to depositors without incurring the sacrifices brought about by quick liquidation. is understood the dividends will be an advance payment on what depositors will receive after the full process of Making application for the loan in Larchmont has involved review of more than 5.000 claims from depositors and of both the present and estimated future value of all assets of the bank.
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LARCHMONT BANK RECEIVER SUED Brooks Defendant in Action Started by Depositor of Closed Institution Special to The Standard-Star NEW YORK, Jan. Franklin R. Brooks, receiver of Larchmont National Bank is named defendant in suit in equity brought yesterday in United States District Court by Edward Edwards of Larchmont. In his complaint Mr. Edwards alleges he is depositor in the bank with balance of 20. He further asserts that on Feb. 15, 1927 he received bond and mortgage for $12,000 at six percent interest from Charles H. Nearing and Monna E. Nearing. covering premises at 212 Larchmont Avenue. On March 2, 1928, Mr. Edwards states, he assigned the mortgage to the bank and then on Jan. 6 last purchased the property on which he had previously held mortgage Says He Made Offer The complaint further states that on Sept. last Mr. Edwards made an offer to Mr. Brooks to pay off the mortgage on the property, less the amount of his deposit in the closed bank, and alleges that the receiver agreed to this. As result of the alleged agreement, Mr. Edwards complains, he withdrew money from various savings accounts and on Sept. presented certified check for $9,000 to Mr. Brooks. This amount, he says, represents the difference between the amount of the deposit and the amount of the mortgage. However, the complaint continues, the receiver failed to carry out the purported agreement and refused to set off the amount of the deposit against the mortgage. Later Mr. Edwards filed proof of claim for his deposit and then on Dec. 14 last, dividend of 15 percent of the amount of deposits was declared by the receiver. Says Dividend Unpaid The plaintiff charges that Mr. Brooks failed to pay him this dividend but instead applied the amount against the balance of the mortgage Mr. Edwards asserts this was improper and states that payment of the principal of the mortgage cannot be forced until July next On this basis the plaintiff asks that it be adjudged that the whole amount of his deposit be applied against the mortgage and that he be allowed to pay off by payment of the difference between the two amounts. He also asks the receiver be ordered to pay him the dividend, and any subsequent ones which may be declared, in the event that the balance cannot be so applied. Further he asks that the receiver be compelled to pay him interest of 3 percent on the $9,000 from Sept. 6 last to date. This is to compensate the plaintiff for loss of interest occasioned by the withdrawal of the $9,000.
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LARCHMONT BANK RECEIVER TO ACT ON NEW DIVIDEND Will Go to Washington Next Week to Seek Early Declaration Hope that depositors in the closed Larchmont National Bank and Trust Company will receive their second dividend checks early in the Fall was expressed today by Major Franklin Brooks, receiv- Major Brooks stated he was leaving for Washington the first part of next week to take up. among other things, the possibility of declaring a divident for distribution of checks in the Autumn. Last December the bank released approximately $200.000 by declaration of 15 per cent die vidend. The receiver said today he hoped the second group of checks would be at least as large. In statement of the bank's condition last week, Major Brooks showed that the institution which suspended business in March, 1933 and went into receivership the following August, had liquidated approximate ly $1,000,000 of its $3,000,000 assets in less than a year. He said also $100,000 of the $200,000 total liability in stock assessments had been collected to date.
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Bank Receiver Sees Prospect Of Dividend Special to The Herald Statesman LARCHMONT, June 29.-Major Franklin Brooks, receiver for the Larchmont National Bank and Trust Company, is expected to return home tomorrow from Washington bearing news on the success of his mission there in search of second dividend for depositors with funds tied up in the closed bank. Recently he said he hoped the next dividend, which he expects to declare before Fall, will be at least as large as the first one of 15 per cent distributed last Christmas. The bank has been in liquidation less than a year, but already onethird of its $3,000,000 assets have been converted into cash, Mr. Brooks states.