The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-10-05
THE ARTISANS BANK.

THE ARTISANS BANK.
Meeting Of the sharehoiders-The Pro-
eesdinKs In Court.
sUPkEM CouRr-CHAhBER6.
Before Hon. Judge Leonard.
Ger Geo r Gordon Us the 4irtisans' Bank The
again crowded by parties interested in
tho result OF the Judges decision who should be re-
ceiver of the Artisans Balk.
Mr. Byrne Mked the Court to postpone the matter
until Friday morning. In order that he could further con-
slider the objection raised TO the appointment OF Mr. Camp
II probable that shareholders would agree on
another gentleman IN the course Of the day
The Judge ga he had made up his mind 70 appoint
man whom neither party had named. Inc tecnn,cai
objection aifed TO Mr. Camp he considered fatal aud he
should therefore not appoint him.
Mr.. Byrnes ssd they would consult as TO who n they
would name to tho Court
The Judge said, in every respect consider Mr. Camp
good a man AZ could be named, II not for the
technical objection raisei that he stockholder OF the
Artisans Bank. and may be called upon TO assess the
stockholders. think that objection fatal one Inc
Judge then inmsted to Mr. Byrne that II they came TO
unanimous agreement a name he would postpone the
gentleman remarked that further postponement
would create great Inconvenience 10 some Of tho dealers
Mr. Byrne could not see how the dealers would be af
ftcted If the bank paid his clients demands they might
arrange the matter among themselves.
The several counsel for the deposors agreed 70 posi-
IL was then announced thn there would bs meeting
OF the directors and stockholders al the bank at two
O'Clock p n.
Meeting or Shareholders and Depositors.
THE AFFAIRS OF THE BANK DIscussED-TRE APPOINT
MENr or A RECEIVER PROPOSED DIFFERENT SoMi-
NArIoSs-MR. AUGUSTINE SMITH APPOINTED UsANf-
MorsLY-HE REQuIREs TILL THIS MORNING TO CON-
sIDER-HE WILL PROBABLY ACCEPT.
The stockholders and deposto Of the Artisans Bank,
which has recently suspended payment held meeting
In the bank parlor yesterday afternoon for the purpose
Of taking into consideration the present posture Of affairs
Of that corporation and Of devspg some means to meet
Its liabilities. The meeting was numerously attended.
Mr. Runy an Martin was called 70 the chair, and Mr. Van
Nance appointed secretary.
The objects Of the meeting explained by the Chair
and other gentlemen the principal OF which was the
appointment of receiver Nominations were then called
for.
Mr. WALLACE representative OF depositor TO q very
large amount suggested that the gentleman TO be ap
pointed should be in position devote all his time and
attention 70 the affairs of the bank in regard to the wind
ing up Of It's affairs and that he should at the Same tme
be in the enjoyment Of the confidence OF the public He
thought to, he should have been hitherto unconnccted
with banking Affairs The oftwo gentlemen nd been
suggested him-those Of Mr. John Bushe formerly assis
cashier OF the Mechanics Bank and Mr. George W.
Lymer, superintendent Of the Clearing House.
Hr. Joseph Cooper, iegcller OF Maiden lane, was
nominated by another gentleman.
ExJudge Coles tor obtaining the services OF come
competent of business and he thought tina. the
dtors should have the u ost 10 say In the matter.
Judge LkoSAgp suggested the name OF Cyrus Curtis,
President the Washington Life Insurance Company.
Mr. ByrSR nominated Mr.. Augustine smith, Vice Prcsi
dent OF the Nassau BANK, and member OF the firm OF
Hall, Chapman Co., paper dealers, Nassau street
A mCss see having been received that Mr. Smith would
not accept the appointment Mr.. BYRSs proposed Nj.
some conversation then ensuci TO the willingness
Mr. Smith TO servo, when
Mr.. VINE said no was slightly interested in the de
termination at which the meeting might arrive as oae
OF the depositors. He was coavtoced that the bank
would meet its liabilities, but II IL should happen taat
there any deficiency TO be made god, the burden
would fall thcse interested In the concern. lilo did
not know Mr. Smith, who might be worthy OF the trust
proposed 10 be given 10 his charge What was wanted
however nteman 70, only o' Character, but OF
leisure. The settlement OF the affairs OF the bank
would be likely 10 occupy six months and therefore, II
was necessary appoint gentleman who has Sufficient
time hf personal attention u the matter II The
gentleman named had time 10 atiend business him
sef and would OF ace II IN the hands OF attorneys
would be polite TO give him the appoln but mol
otherwise he did not believe, from all that he hal
heard Mr. Smith would able TO give his und vded
attention 10 the matter ana therefore he would propose
Mr. John Merritt formerly OF the arm Of fiei Merritt
A gepterau here suggested that Mr. Merritt was m
aged gentleman who had retired from business and
haps, would not be in poston TO accept the appoint
The CHAIRMAN intimated that the question the ap
poutment committee TO wat Mr Augustine Smith
ascertain from him whether he would consent 10
| receiver In settling the affairs OF the bank.
/ Mr.. WALLACE hoped the matter was not =
though, that before sTpointug a com mite
10 wait on Nr. smith, the sense OF the meet
ing should be taken whether that gentleman va.
| the most acceptable lie did not Mr.. Saith per
sonaly but be knew that he engaged In large bust
ness and I was natural that be would oSs after his osl
bank In the bands Of an attorney This was not what tn,
shareholders and dcpositors waited. what they wanted
a receiver who would attend 10 the business and
not delegate 20 others. He not stockh him
SELF but though he had interest personally in the
bank he represented one OF the largest stockholders con
nected heowh and he would therefore mend the
appointment Of n gentleman whose mind was no. dts
Of Judge cowea was an eIceIien, one let them rst sec
what the stockholders said, and then decide the ap
polntment Of c,n,m.tee Ia setting 90 ih.a pIaepls
Ia the bank Of ca person voting THIS, and no. IN,
nrber Of pcrs,rs voting sh,ud guide them In a-rivns
Of receiver before the views Of all The etocs
ho'ders. In proportion TO their Interest IN the bark
we're ascerained He hoped therefore, the raotioI
for committee wsai not prevail Let the views Of TIL
stoohodt be nrst taken, and then u Mr. Smith o. an
other gentleman, taouid appear 70 be favored by Ia
meerf, committee could be appoaatcd 70 wait on tha
AsTorKnorDKS here remarked that the gentleman VII,
had just spoken bad k.mse said that another gentleman
who had forty thooernd dollars depost 10 the bank
bad spoken the previous day In favor OF the appoint
Of opinion that this xss an indeaton lAi even on ~
principle Of the gentlemen mr. walacc) the preponde
rance Of votes would be 10 favor Of Mr. smith
The CHkT here suggested that each gent,eman should
give bis ma and the nc rep-csens aud nj tn
same time pokratc whoever he wished 10 be appointes
recevershc Eaiorty 10 be decided BY the amount OF ID
terset 10 the bank by the parties voting.
GIATIxMAs wanted 10 know whether this arrange
ment apply 70 stockholders alone, or whether de
pssltors shouid b. counted IN.
The Cam cxplalnei that Il ws-i apply 10 ail-zepos
tors ~ well Stockholders
The quest on explained by toe Chair, was then put
70 the vote, when names and ID res appeared ~ oi'
lows
o,.,,-,vsc, a. oco W n rsr. ss 200
!, y gorSo, 1900 John W igaiam. -. 500
y :, So, $3.50 1000 = savage .......... 1900
D. Mashaf. ..s...'..' 49, - 1900 20
3 C. Derby. '.'..'' 80 80 " r. Tss .'" eeo
VIM r~bank. .''' Y o0o y w 49, '''''''' "a
steinway sons. 10 fos, n MAJ. '''''' o59
A. sesbury v = an
b. Marsha ....,..s.4 cc0 u So. 1900 soo
Tfcet 4 Fcfrest.... 900 a. y. '''t't''' AZ ~,
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