Show L IN t Methods and Not Solvency of Provident Savings Company Corn Com pany Questioned I CLIQUE CONTROL SURPLUS I Various Members of Financial ial Circle Made Vi j Each S New York lurk Nov lo investigation of mf tIme the affairs of time the Provident Savings Life Ifo society being conducted Jointly by the insurance departments of New New- NewYork ew York mork anti and Colorado is practically practically- completed and whIle company will be reported solvent and its accounts In hut cot correct reel shape yet yeC ru- ru lloil t I to be be- made will throw a sinister light upon jom of th tho methods of con I musclIng ducting the tho affairs of the company J It will be be- shown that certain In built up a ti huge cash surplus It will tt-lil bo lie shown that this surplus was deposited in banks s controlled by this clique It will be Indicated that thai almost coincident with these cash deposits huge loans were verc made lo to time the men Inca Interested In time the Provident o company While While- no con con- ni mui between and auth loans are arc established tin tin- of loans with posits de-posits may be lie looked upon In lii certain quarters as more than a strange coin coin- ci 15 E. It Thomas president of tIme the Hamilton National bank O. O l F. Thomas president of hue tho Consolidated National bank K F Augustus was want president of the Lime Mercantile National bank It was Jn in those these banks and branches such as the Iho Hudson Trust corn com company pany that the mooney money was deposited The investigation of these o banks proved a bewildering maze maz of loans made by these banks to the tho men mac involved involve In iii the yn cute calc It was apparent thai the loans were Vero humer anti and Interchange able The Tho various members of this clique loans to each other and United Copper Consolidated Steam Steamship ship and auth other by time tho combination were as col col- col lateral The Juxtaposition of sonic s of the thc thc-e c loans and cash deposits of d nt l Life money has been commented upon In Iii fact yo so did this condition of affairs prove that the clearing clearIng clear clear- ing hou house e committee demanded that hutt E. E H. H Thomas and O. O F. F Thomas F. F Augustus and amud C. C W. W Morse ra- ra sign from rota nil all time the and directorates they held In Iii the various banks controlled bj hr thorn Their resignations and withdrawals withdrawals with with- are alc recalled |