The New York herald., 1871-12-20
MORE BROK EN- BANKS.
Tho Fourth National Bank Of Philadelphia
Thrown Out by the Clearing House and
Its business sClossd-Unsound Busi-
nen the Cause.
PHILADELPHIA. Dec. 10, 1871.

PHILADELPHIA. Dec. 10. 1871.
MI. Llewellyn Huburd, and Mr.. Or5on Adams,
Bank Examiners this district recently received
instructions from Comptroller Hulburd to make an
examination OF the AFFAIRS OF the Fourth National
Bank OF this city, aud report their conclusions to
the Treasury Department at Washington and the
Executive Committee OF the Philadelphia Clearing
House. They proceeded to the bank IN question
yesterday morning, and were engaged until ten
the institution. The conclusions were anything
but nattering to the officers Among other things
1t found that the capital had been nearly, not
quite. used up In losses and 0verdrafts .Friends'
OF the bank were allowed to overdraw their ac-
counts and given their own time TO pay up. On the
close OF their business yesterday afternoon their
liabilities at the Clearing House amounted to
S117,0oo, with $4,000, checks on other banks, on
hand leaving them 100000 in debt. Other
Irregularities, but nothing to Indicate inten-
uonal fraud, were discovered, and Mr.. hulourd
Immediately reported the result OF his lnvesiiga-
tions to the Clearing House, wnereupon commit.
tee consisting OF Charles Rogers, chairman ana
Mr.. Comigues Mr.. G. NJ Lewis and Mr.. Watson,
notified the bank this morning that their business
must cease for the present. Accordingly the doors
were Closed this morning, and Mi. II. r. Huburd.
Comptroller or the Currency, who had been tele-
grapned TO- arrived, and appointed
A HERALD reporter entered the outer doors this
morning, and, peerlng In through wicket IN the
iron door opening immediately into the bank, asked
TO see the cashier. "He can't be seen, sir,' said
the watcnman. On making his business known.
however, the guardian an eel OF the inner door went
into The back room and returned with an invitation
to walk III
The onlcers ana clerks were sitting around on
their stools or walKln. up aud down discussing the
calamity, and the cashier, who from his more In
pOrtant position IN the bank presumably elt worse
than mere clerk, presented look OF blank despair
and woe. passed lnto the presidents room and met
Mr.. J. Henry Askin, who proceeded to give me MS
good an accou1t OF the affair as possible, making
due allowance for nervousness,
''Mr. Askln," SAID, 'wlll you give me- for the
HERALD, an account or your tronDles ~
Mr. ASkIN-I have Just given statement OF the
affair to the financial editor oi Philadelphia paper
You can get 1t OF hlin
REPORTER-Tne HERALD does not allow its repre-
seniatlves TO get thing second-nanded, and
would much rather have II from your own lips.
Mr. AsKIN- Well SIT down, and iii give you an
account OF the trouble.
REPORTER-Allow me to ask, first, If any New
York banks are responsible for your suspenslonr
Mr. AsKTN-No; we owe them nothing.
REPORTER-I thought 1t p0ssiDle they might owe
you something's
Mr.. AsKIN-No the Ocean Bank owed US some
thing, but that did not hurt us.
REPoRrER-lr ls reported on the street that Cal
lenders paper 20 large amount Is In your posses
sion; paper for which Mr.. Calender has given no
collateral
fact that Calender reOrganlzed tue bank IN 1887.
REPORTER-Have you any OF Callendcr's paperG
MIR. AsKIN-No; we haven't cent. Mr.. Adams
lturnlng towards an examiner have you found any
OF Callenders papers
Mr.. ADAMs-None whatever.
few more words regarding the future OF the
bank and the HERALD representative took MS leave.
mands. Their de- osits are $576.0O0. The Clearing
House committee tcle lraphed to New YORK to-day
that the bank would pay depositors.