Article Text
Interboro Bank Makes Brave Struggle to Recover From Panic, but Succumbs Solvent Institution Dragged/Down by Its Former Director Who Helped Wreck Trust Company By C. Carlton was difficult of approach and had little NEW YORK, May 16.-The bank at to say concerning his wealth. Finally 49 Wall street, known as the Interhe volunteered the remark that "If boro bank, in which Bartnett of the defunct California safe dethey expected him to open up like Scotty they would be wofully disapposit and trust company of San Francisco were also directors, has finally pointed. I had to dig deep for my closed its doors after a brave effort money." said he, "and am not going to to survive the effects of the panic. It part with it easily. It was afterward ascertained that Minchot had fetched was declared to be perfectly solvent east with him gold nuggets worth but did such a poor business and lost $31,000 and weighing about 150 pounds. so many depositors after the failure The nuggets were in a leather sack of the California safe deposit and trust and Mr. Minchot toted them to the company, the directors decreed it wise to liquidate the business of the instituassay office in Washington, must to the tion. regret of the bell hops at the Astor. It will be recalled that immediately after it became known that the CaliThe art works of San Franciscans fornia safe deposit and trust company have received even more attention this closed its doors in San Francisco the spring than usual at the eighty-third Interboro bank here requested Bartexhibition of the National Academy of nett and to resign as directors. Design. Among those signally honored The president of the Interboro stated were Chester Beach, William Keith to The Call correspondent at that time and Harvey Wiley Corbett, a San Franthat the Interboro bank was not a cisco architect. University of California creditor of the safe deposit and trust man and graduate of the Ecole des company of San Francisco. and would Beaux Arts, Paris. He received the not lose a dollar by the failure of the highest honor ever conferred on so latter institution, but that in view of young a man by the National society all the circumstances it was deemed of architects for the most finely finadvisable to request the resignations ished building of the year. of Bartnett miam neith's painting "Autumn" The president of the Interboro, in was sold after it had been viewed and an interview with The Call's correadmired by thousands uning the exa spondent. was glad to give hibition. vote of confidence, but not so much for Chester Beach, the son of Chilean Bartnett. Concerning the latter he had Beach, was elected an associate of the nothing to say-favorable or otherwise. National academy. This distinction, At this time, too, the president of the rarely shown to one so young, was Interboro bank seemed quite anxious the result of his work exhibited both to have it known that the Interboro at the winter and spring exhibitions, was perfectly solvent and in nowise conspicuous among his paintings being affected by the San Francisco failure "The Stream" and "The Breath of the To those who understand the relaPines' on the first occasion, "and tions between the two banks, how"World Humanity" and "Young ever. the failure of the New York inNymph" at the latter. stitution following that of the Callfornia safe deposit and trust company A letter from Paris says that Mrs. did not come as a surprise. General Edward Kirkpatrick of California, formerly Miss Hammond, is The Interboro bank people, although making herself popular as a hostess in Parisian society. The Kirkprofessing to be not concerned about patricks have a fine house in the Avethe outcome of criminal prosecutions nue Bois de Boulogne. Mrs. Kirkin San Francisco, nevertheless betray patrick, at home in California, is a an eager interest in all reports from fearless horsewoman and rides her there. It is evident that they expect Bartnett will be convicted. The InterArabs astride, on a big Mexican saddle boro bank is or was located in the with rich trappings and stirrups, cowsame building with the Atlantic safe boy style. She is, beside, a good marksman and skillful with the rod. deposit company, at 49 Wall street. When Bartnett came east to try and Her drawing room life in Paris is secure aid for the California company tame in comparison, but she manages to get some outdoor diversion in tennis he spent most of his time at 49 Wall street, for he was not only a director and golf. General Kirkpatrick is a of the Interboro bank. but had a vault distant connection of the Empress in the Atlantic safe deposit company Eugenie. He is an ardent Carlist and a which. according to Bartnett's letters an acknowledged authorityto Brown. was secured merely as a writer-on military and diplomatic bluff-to carry out a pretense that cersubjects. tain securities were locked therein. When J. Dalzell Robertson was in Mrs. Herman Oelrichs is in Paris, at New York and declared to The Call the Hotel Meurice. She will remain correspondent that he was ready to there during the season. Her sister. return to San Francisco and tell the Mrs. William K. Vanderbilt Jr., is at her summer home near Great Neck, story of how the trust company was located he tried to shield his foster Long island. for the spring season. brother. J. Dalzell Brown, and throw Early in the summer she will go the burden of guilt on Treadwell and abroad with Mr. Vanderbilt, Mr. VanBartnett. derbilt's mother. Mrs. O. H. P. Belmont, "But why did Brown continue to and O. H. P. Belmont. make loans to the very last?" Robertson was asked, and he replied: Mrs. John W. Mackay and daughter, "I was absent from the office during the Princess Colonna, sailed for Europe the last half of the month on a vacaTuesday. Mrs. Mackay will spend the tion and can only say I believe he warm season in London and in the hoped matters would straighten them fall she expects to return to New York, selves out with an improvement of the when she will spend a few months general financial situation. prior to going south for the winter. "Did Brown appropriate the funds of Meanwhile her beautiful apartment in the bank for his own aggrandizement the Avenue Bois de Boulogne, in Paris, and profit and Robertson anwill be closed. swered: fully believe Brown anticipated Prior to her engagement in "The that should all of his deals pan out he Thief," beginning June 22, in San Francould and would repay any moneys he cisco, Margaret Illington and her husmight owe the bank." band. Daniel Frohman. will rest for 'In his speculations and investments month in Arizona and Colorado. They did Brown believe there would be a left for the west on Wednesday. return in profits by which he would Kyrle Bellew will not play the prinreimburse the bank funds?' cipal male part in the San Francisco "Yes," said Robertson. production of "The Thief." He sailed "Why did Brown permit the bank to for London Tuesday and will spend his continue to receive deposits up to the vacation on his yacht. The part of hour of failure?" Richard will be played by Bruce Mc"Not being at the bank for two Rae, who for several years was leading weeks previous to the date of closing, man for Miss Ethel Barrymore. He is I can't say. a capable actor and, Frohman believes, Did he really believe that Bartnett is especially well fitted for the part or others could secure aid in the east? formerity assumed by Bellew 'The "Yes," replied Robertson. Thief' is generally conceived to be one "What was Bartnett's part in the of the best plays seen in New York financiering that wrecked the bank? this season. It played to crowded Bartnett received proceeds of loans houses at the Lycum. made in the name of other parties in his own behalf. Charles Farwell Edson of Los Angeles, 'What was Treadwell's part president of the Gamut club and a consider that Treadwell's projects, leader in musical circles of that city, especially the coal mining schemes, is here for a brief visit. It is rumored were greatly responsible for the bank's that he may be engaged to sing a failure." said Robertson. basso part in some one of the Savage 'Did any bank commissioner receive musical productions. money or credit from the bank as a Kellar, the magician, ended his stage bribe or gratuity for services rendered career at Baltimore on last Saturday or for slighting his duties?" and will retire to private life and to a Not to my knowledge," replied Robwell earned rest. He and Mrs. Kellar ertson. have decided to live in California, "Did Gould or any of the Western whence they left direct from Baltimore. Pacific interest share illegally in the funds of the bank?' Among those registered at the east"No," said Robertson, quite posiern bureau of the California Promotion tively. committee during the past week were the following: E L. Minchot, the Los Angeles miner William Fries, president of the California fruit canners' association: John reputed to be fabulously rich, arrived at the Hotel Astor this week and, like C. Klein, M. S. French, Orville Wilson, "Scotty," was the recipient of much Hugh Grant. Max Dannenberg, George attenion on the part of the waiters, White, of San Francisco. bellboys and other household servants. State Senator Henry E. Carter, HarIt was even reported along Broadway ris Wayfield, M. D. Brown, John Harris, Los Angeles. that Minchot had brought $1,000,000 to New York for investment. The figures Valentine S. McClatchy, Max Morris, Sacramento. were enlarged upon, and soon grew to Heldor Hayberg, Santa Barbara. a preposterous amount. Various gents C.L. Good, San Jose. along Broadway who live by the sweat George Ferrald, Oakland. of other people's brows got busy imOtto Festal, J. Brady, Fresno. mediately; but unlike "Scotty" Minchot
