Salt Lake Telegram | 1904-12-08 | Page 3 | Buffalo Bankers Are under Charges

BUFFALO BANKERS ARE UNDER CHARGES BUFFALO, Dec. 8. Warrants charging grend larceny In the second degree have been granted against former President Emery, Cashier Paul Werner and Assistant As-sistant Cashier William P. Luedke of the German bank, which was closed, by the State banking department several days ago. The warrants of arrest were issued on the application of E. M. Block, a pawnbroker pawn-broker of this city. Block charges that a New York draft he bought at the German Ger-man bank ten or fifteen minutes before it closed on Monday, giving a check therefor, has been returned, the bank upon which it was drawn having no fi.nds. He says he has since learned that the German bank withdrew all its funds from the New York bank on Saturday last. i Emery. Warner and Ludake were held for a hearing tomorrow. Warner and' Ludake declared the Oer-tran Oer-tran bank had to its credit In the New York bank funds in excess of 110,000. The refusal to pay the draft was due to the fact that when State Banking Superintendent Superin-tendent Kilburn took charge of the bank-he bank-he immediately telegraphed all banks in which the German bank had deposits, instructing in-structing them not to pay out any more money on account of the Germ.in bank. State Superintendent of Banking Kilburn Kil-burn has Issued a statement in which he nr.nounced that two trust companion of Buffalo have offered to act as receiver for the German oank upon terms which he regards as very advantageous to the depositors.