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Show I HE KITED CHECKS, i j Why Buffalo Bank Failed Told in Official Of-ficial Report. ALBANY. N. Y Feb. 12. Attorney-General Attorney-General Mayor tonight made public tho re port of Tracy C. Becker of Buffalo, who, as special deputy attorney-general. Investigated Inves-tigated the Insolvency of the Gorman bank of Buffalo. Tho bank, according to the report of Mr. Becker, passed into tho control of Arthur E. Appleyard of Boston Bos-ton on April 30. 1WM. Mr Appleyard Is said to have been tho promoter of steam and electric railway corporations operating operat-ing about Dayton and Columbus. O., and Is alleged to have obtained control of banks In New Jersey and Pennsylvania before acquiring the stock In tho Buffalo Institution. , Almost immediately after buying tue German bank stock. Appleyard Is said to have borrowed money In large quantities rrom the bank. It Is alleged that ho "kited" checks and drafts on it and I through It with the -nrlous other banks I with which he was connected, until, when the bank closed, on December fi. 1904, Ap-t Ap-t pit-yard and the various street railways with which ho was connected were -ln- Uebtod to the bank In the sum of more , than JCC2.000. , These loans, discounts and drafts of Appleyard Ap-pleyard and his corporations purported , to be secured In part bv the bonds of several sev-eral railway companies. Since the failure. ( f the bank nearly all these eomp-inks 1 -aye been placed In the hands of n 'iv--ra and the securities are alleged to havu been practically worthless The bank, in April 30, 1901, had elx million dollars in dc-i dc-i I't-slts. It paid -i per cent on deposits, and consequently attracted the savings of thousands of deooslt&rs. Three of the dl-lectors. dl-lectors. said to be under Applcynrd's Influence, In-fluence, are charped with wilfully falling to perform their duties as directors. |