?V,niv
ences Pr^ieBt 7^'ft
progr'esigfre ,,
it
4proi^e«
*(6t
'board atfa^ullfter -po^ -malt'it
vi
b^^particultt-
fSf(or|nT
ly as to
wbit bf, regards as tbe best! features
oftrftke
OFNINE MH.Ll|)N$
^»lp|
fii
Trust
:-li» £u&pendSr-
Institution Was Closed by. State Ba)i
Examiner Who Says It is ln
an Unsound Conditions ^'v
i- jf in ,I"5"'f*'
New York, Jap. 8,-^TJbe ^arnegte.
Trust company, one o|. the. largest
banking institutions In tbe city,.
deposits of nearly j^O^elosetf
doors by order of State Superintend
ent ef Banks Cbeney. Tbe «uspei
sion bairdly e&ueed -a^ ripple'^n
financial district, yli&to tbe trust ^6^
panljr was ofteii reported in a shak^
condition.
Superintendent^ Cheney, in an- ofl&
eial statement, said imi «ramination
of the tract con&pany bad caused b^
to "conclude tba^^t. is in an- unsound
oenditkm to transaict'business and.^iat
It is not safe for it to continue."
N
State bankingf olfloers' are now pr6l5-,
tag the company's ^ook,s. Offlclkls of
tbe trupt company., have made no
statement and idle extent of liabiliti^
la- nbknown. Bankers,- howeyeih/. say
depositors will be jiald in' full.
The institution organised
1907 and after the retirement of Leslie
II. Shaw from tbe office of secretary
of tbe treasury be become its presi
dent. The name of Carnegie as ap
plied to tbe Institution attracted to it
a great de$I ot attention,, bnt the adopr
tion of. this name was without tfr.
Carnegie's authority approval 1%.
iff understood hewasnot a, stockhold
er and not immediately identified wftfi
It Mr. Shaw's connection with tbe'
banb 6ea*ed after a few months b^
cause of di«erOAc#fr!witb tbe other ^$
icedrf of the institution. -v*
ii
In Trouble a Year Ago.
