The New York herald., 1871-12-15
KewaYk, snd was informed thas 'rI
pteM Der. when he certlded that TN

NHV
= KsxaTh, snd was informed thar @thas I'm I'm
Sss ms. Ssrsd condition sna me
WAS all right its present dldic1lu arises from
falling on OF deposits and an Indebtedness incurred
within the last two mOntnB and failure 10 reallxo
from securities which are not immediateiy avaiiar
Il was reported In Newark that Deputy Sheriff
had q summons for Mr.. Calender to appear at
Trenton m relation to Q claim for $4e0 600 held
that city: but Il TINS be true the summons mas not
been served. as Mr. Calender was III THIS city yes
Mr.. Davis reports that the ocean Bank will not
again resume business, and it is not llkey tnat any
OF The suspended institutions wiii 10 So
Meeting Of tho Dcpositors.
A meeting OF the depositors OF the Ocean National
Bank was held yesterday at the ofiice Of Mr.. Hod-
nout, ON Church street, to consider what steps
should be taken In view OF the suspension OF the
institution. There was very large attendance,
the room In which the meeting was held being alto
Rether insufficient to accommodate those who came
together. The proceedings were opened Dy MIR.
Everett, one OF the callers Of the meeting, VINO
nominated Mr.. Wandell for chairman, which was
carried. Mr. 8. A. Walker was appointed secretary.
Mr. EVERETT said that, as the caller OF the meet.
Ing, some statement Of the position or afrairs In
connection with the bank would naturally be ex.
pected from him. Hts sole OBJECT in calling the
meeting was TO get the depositors together and
decide upon some course OF action to be immedl-
atey taken. The 1rsr question to be decided is
whether the depositors are satisfied with the re-
eelver who has been appointed N. j. Davis.
Personally he was assured there could be
no fault found with him. but as the at
torneS OF the bank and an intimate friend
Of the President his appointment was open
TO grave doubt. 1t is also strange that
lawyer should have been selected for the position;
business man, one would think, from his Knowl-
edge OF accounts, would be the proper person. It
was understood Mr.. Davis had given BONDS In
siOO Co., but that was sah security for the custody
OF 1000, ,OOO However, II the meeting was satisfied
with the receiver, there was nothing to be said and
he would probably discharge his duties fairly The
next inquiry Ii to ascertain how the accounts Of the
HAVE BEEN MUDDLED UP
IN such y way as they have been to mystlly
the depositors. How the bank came to fail, II the
statement furnished by the officers to the press be
true Is lnconcevable. They assert that they have
q surplus OF over one million dollars more than
their liabinLles, and yet Tho company went into
OF the bank used the money for their own per.
s0Dal purposes.If they nave not, then what has
become o. me casY we nave ave s Tgat 70 Know where
been applied, and II tue company has vi0.ated its
sacred trust then, py all means let proper punish
ment be dealt out
TO THE GUILTY PARTIES.
The way the business OF the bank has been con-
to be very reprehensioie. 1t Is asserted that the
statements have been hashed up and made to SUIT
the purposes OF the ocers that the weekly reports
HAVE BEEN FALsIFIEp,
and the spurious and worthless checks OF other
II the company has been guilty OF this base
ness 1t Is most despicable and We can be-
The The securities @ tiles which appear in the statement
as good cannot be guaranteed as such.
Ea s FGpSse er
they are worth anything; but II - surmtsed that
they are Of little or no value and the bank, 0y hold
that Mr.. Davis and Mr.. Oollender botn hold the
bonds, but the truth Of this cannot be ascertaned.
% deposit Ton on Monday in the bank, being ignorant q
received Dy tho cashier, though he knew perfectly
we'll that the bank was insolvenr at the time. Legal
advice has been taken and the act Of the Ocean
Bank pronounced
A CLEAR CASE OF FRAUD.
Overdue notes are also held by the bank which
knows them to be vaIueiess. Many other securities
were bonds Of the New York Printing COMPANY to
as OF the directors though 1t Is asserted tat ne
has never attended The meetings OF the Board; but
we all know that he never Joined corporation
LIFEBLooD OUT OF IT
Mr.. EVERETT concluded by impressing upon the
Judge WHITE said his position was more numor-
teen days ago, ON the advice OF friend ne opened
suspended state ' again gain Hs % wcuid % urge M that no
hasty action be taken In this important matter, "a
tho spasmodic excitement which prevails 10 imam.
state o'S'e ssirs The scson oi Inc Jssrssx =
also, In certain sense. injurious, as II enabled
the small ones He oferod tho following resolu.
tion:-
Resolved, That COMMITTEES Of AVE. two Of whom shall BE-
tho chama and Of this meetna bc appointed to
n with the receiver and thai they make with hi. consent
Ocean Bank and to this body Of depostor future
meeting.
The resolution OF Jucge White was put to she
Mr.. Everett Colonel stOrrs and M. J. A. Martin
were appointed as the ,,S committee and sub,e, Ss
Hsnssy deoos,tora o%ds ,us ns Ssnk was
Fancnar, one OF the directors of the bank, would
though he was several times called Tor Jailed to put
IN an appearance. The meeting adjourned until
Monday, at ten O'Clock when the committee Is ex.
Mechanics ExcnanQe, Park place.
Colonel Storrs was then appointed to wait upon
Mr.. DAVIS and ascertain II ne would receive the
committee. He readily consented to do SO, and the
Interview VIII take place tomorrow morning at ten
O'Clock.
The Union square Bank.
Everything was quiet al this bank yesterday, de-
positors feeling satisfied that the proper time they
would receive all that Is due them. The directors
and the receiver were busy all day examining the
books, but 80 far can only form an approximate
estimate OF the Indebtedness Vice President Bixby
last evening placed the bills receivable at sara lo
and liabilities at about 200. As yet they have
not received the sheet from the Clearing House,
and cannot consequently get at the exact
csnd,ng SD, 900 IN currency and se2oo6 in
bonds worth, with the premium, $4,000. Then