New-York tribune., 1867-07-30
rohahg
TIE fAlL tRE OF THE UNADILL1 BANK.

The albany ArguS of yesterday morning says
Rumors affecting the stability Of the Unadlla Bank
owned by two gentlemen Of this city and It's TWO oucs
In Unada, have for days been current we ha art
made AN assSnment for ts sou 5oHe OF their crsd
tors to f. A. Sands and D. p LOOms OF Unadllla apm
Bank generally supposed 10 be in sound Gondiuo
but this opinion would doubtless have been modified II II
high per cent deposits. .,.,-..
This bank was last year merged from an individual INTO
National bank and continued doing business under hal
system with partial change of owners until the sh OF
Srs AT waon t 9S1re dr ~ sPPearsd IN Ihe ~ gSgs r H.
affairs were being closed and creditors requested
60 sa men e sas Ia RE Gr that At bs e
was about returning TO the old State system OF banking
TIE O0OperSt0p Journal Is informed that about week
previous TO this the Government Examining Agent paid
the Unadla National visit while on hs tour through
this part OF the state and found its affairs in rinsats
factory condition The legal tender short of
the required amount and In other respects the re-
qulrements of the Department at Washington may not
have been complied with These facts we're reported
headquarters and that fact became known TO the New
York agency Of the bank, where lost credit in eonse
Tie Fteeman's Journal in article written before the
The affairs OF the bank could not remain in this CON
don any length Of time and escape the appointment OF
receiver. Its managers then adopted the course we
have stated but did not themselves state, connection
with the advertisement alluded to- their intention to
turn to the state system The creditors OF tine Dank 20
larger number than anticipated, presented their
demands ookedor aid dd not arrive IN s%aSett NJ
amount 70 meet the emergency reports untavoraDe 70
the condition Of the bank and to the peeunaty rsp0ns
bty Of some Of its owners, began TO creuae hOaers @
OF certificates OF deposit the Unadilla Bank also
sought payment; personal claims were pressed; ana
finally suits began be brought which II Is Thought
might have been avoided had the bank officers shown
fair balance sheet and statement TO their cred
itors, who demanded something more than the mere
assurance on the part Of tho bank that they
were not only solvent but able to pay everything and
retain handsome property II not crowded. The Bank
and Individual liabilities large probably not as large
have estimated but they may exceed quarter
OF a million Since these difficulties commenced some
claims have been paid Many are held by parties
living In Unadilla, Butternuts, oneonta, Delaware
County and elsewhere Some of the certificates OF de-
pos date several years ago. yearly interest having
been paid them. The assets said to consist OF Bank
and other stocks real estate near home and In Buffalo
and esewhere-tO what amount none OF the creditors
that we have conyersed with yentured an opinion The
Bank officers say they worth considerably more than
tho amount Of their indebtedness, and can pay on al
claims II prompt assistance can he had or II allowed
proper time"
Tho notes Of the National Unadlia Bank are redeemed
at tue New-York State National Bankan Albany.