New-York tribune., 1870-01-12
TIE NINTH NATIONAL BINK.

Ever since the fine marble building now
being erected Broadway Ispenardst, was first
projected by the Directors Of the Ninth National Bank IN
this city much opposition has been manifested on the
part of portion Of the stockholders and depostors
Mr. j. U. Oryis the founder and first President. to-
gether with several OF his friends among the most
earnest opposers OF the new building movement
The country patrons Of the bank were determined,
possible to prevent what they called the exrayagant
expenditure Of their money
Yesterday the annual meeting for the election OF new
Board Of Directors was held at No. 3G3 Broadway ana
never was there such bank election held in the city be-
roro The hours for baotng usually from 70 till D.
Yesterday the voting continued TIL nearly ocloeh
on ordinary occasions two men hold the proxies cortn
Gates epUtng the holders to vote ana 90 he D.OthS
tho stockholders from the country one gentleman
X0te aSainst Tie new building There two tickets
one Reform ticket and the other IN f4v9r OF 'te t Gt
Board. Among the candidates on the REFORM ticket
were Edward Clark. Eckstein Norton, Joseph u oi's
The room was crowded. and considerable excitement
prevailed. Six policemen were on hand TO preserve
order among the money kings. No outbreak occurred
but several of tue meNpers did great deal 0t 0uI TAX
When Mr 6fyis Retired from the Pfesidents.c s.char
few wears ago he had his possession largo number Of
proxies belonging to persons residing in the country,
which had placed In his keeping with the under
standing he represent the respective owners
at the elections OF officers. Mr.. Oryis turned
them over to the succeeding President. AT
OF the anti.Reform party, whereupon Mr Orvis lmme
datey got Injunction but the opposition party
voted and were victorious Most OF the members OF the
old Board were reelected, as the following will show
DIRECTORS OF THE NINTH NATIONAL BANK OF NEW YORK,
BARNET /. SOLOMON. JiAhs DAYTON
A. kOBBK JOHS q PKHBLR
] o. WHrFHousE GEORGE G.. COLBURN
GEORGE A. FELLOWS CLEMENT ). PAks0SL
THOs. A. NIsR III.
The stockho lers in the minority at Instituted
proceedings before Judge Barbour OF the Superior Court
against the Directors TO prevent what they called
extra outlay OF funds belonging TO depOsOrs.
This will doubtless be test case as to how far Direct
ors OF banks invest money under their control In
real estate for banking purposes. The law declares
"tha 1t shall be lawful for any such Association TO pur
chase hold and convey real estate shall be necessary
for It's immediate accommodation in the transaction OF
business"
Last evening several gentlemen interested in the Ninth
National Bank met at theAstor House, TO consider
tain matters In connection with the proposed reform
movement They said that the building OF BANK edl
flee with the funds OF depOsltors was without precedent
The Park Bank had surplus OF more than million OF
dollars at the time work was commenced on the new
building, and even then some OF the depOsitOrs and
stockholders were opposed to the great outlay neces
sary TO erect such a magnificent structure. 49,
The Ninth National Bank have surplus OF sl35OOO.
They are erecting building, where rents above the first
1or are dull which must cost half million OF dol
lars some say $6OOOOO The result Is that about 100000
must be taken the money OF depostors TO finish the
building because all their circulation is at present out.
and Government securities are pledged at Washington
for its redemption. An increase OF SOOO,OOO capital
oube the present capta is asked for by the present
Roard with which 10 build the banking The re-
formers claim that the erection Of tho building In direct
Violation Of the National Currency act OF the United
States