The New York herald., 1871-12-01
THE COLLAPSED BANKS.
Statements Of the Receivers of the Bowling
Groen and Gunrdian Savings Danks-Thc
Seuyvermut Buuk.


stsasnents Of tss Receivers Of the Rowling
Green and G~ardian Savings Danks-The
Seuyvesant Bunk.
As sbrieny stated In yesterdays edition. the receiy
appointed by the various suspended savings banks
have commenced to issue their statements and the
result OF their Investigations has proved more salts
factory and cheering 10 the deposltors tnan many
OF them had been led TO anticipate. Since the meet
ing Of the committee appointed TO confer WIN the
receiver OF the Bowling Green Savings Bank
on Wednesday additional security has been gwen
OF the ability OF banks to pay IN fui, or neary
So and there Is now every reason to believe that
the liabilities or the various companies will all be
made good Yesterday, on account Of the holiday,
1t was hard to obtain any additional Information,
but HERALD reporter picked up some facts which
Will doubtless be interesting. on inquiry it has
been ascertaned that though the banks have come
out better than any one expected, they
WILL NOT RESUME BUSINESS
at least under the present charter and with the
present officers and stockholders, who have entirely
lost the confidence OF the public, with few exc9p-
tons. The meeting OF the committee OF the Bowl
ing Green Bank was very important and 1t has
given great assurance to depositors The follow
ing Is the statement Of the receiver:-
Loans on personal security with inter-
Less e.. esHsssu. eoisassai: pieassi For moneys
borrowed ',ooo " ,As asa on
Loans on bonds 81 and M moraages ssls.zM 2ss e
Aea ss the smoun oo On mort
gage OF $sO,l55 given BY bank col
<v'~V w A,
Deed Of trus. . from n, I Johns and s wife; & q
islsndcost over and above encumbrances.. l22o %
Total .s1ls,i"4 2 2
LsSiics to deuo:or exc asivs Of Interest due
II the above securities: which are believed to be GOOD
realize the amount tor which they gwen
witt receive nineyhve cents the dollar for their credit
them into cash without much haste any sacr
s and believe snail be able to declare div ena before
Nnw YORK. Nov. g, 1877.
It Will be seen that there is deficit OF nearly
$22, 00o in the accounts OF the bank; tut how this
occurred was not explained 10 the committe. by
Mr.. Knapp. Inquiry was made o. rhe receiver rela.
tive to tn nature OF the secu ltieS, anu ne replied
by stating that he could not at present give the
names of the persons who held the loan, but he be.
heved the amounts could he all collected by careful
management. Subsequently a subcommittee OF
two appointed to examine the securities and all
documents connected with the bank Judge Hogan
and Mr.. Philips are the gentlemen appointed, ana
they will commence their work On Monday ana
make searching Investigation As will be seen
by the statemcnG OF the receiver the loss will be
only five cents on the dollar.
THE GUARDIAN SAVINGS BANK.
Mr.. Jeremiah Quinlan, the receiver of the Guar
dian Savings Bank, has also given statement of
the state Of the finances winch is even better than
that all deposltors will be paid III iul-those having
small amounts, not over $500, at once.
Mr.. Quinlan has good authority ior max.
gone over the accounts of the bank before issuing
IT, The Total liabilities amount to $3.50 900, and the
loans, covered by ample securities will be sufficient
to cover all claims. The great delay IN making an
elaborate publIc statement-what has hitherto
been revealed being merely inlormal-has been
caused by the large amount of work which
had to be gone through before the accounts
were thoroughly straI9htened ana the situ-
alton fully ascertained. The trustees have al
ready placed in MIR. Quinlal's hands between 100000
and sloo,0oo IN cash raisei by subscription, and In
addition Walter Roche the Vice President has
given bond for $500, 900, secured by property OF
equal amount, to he held III trust guarantee to
the dcpOsltors that they will be paid IN rull. Mr.
Quinlan viii apply to Judge Barnard al on early day
10 get OIL der to all deposits under $500, and
at the end OF the present week he Will. probably,
counsel, Messrs. Jerome, Pratt Il Bulkley.
THE sTUYvEsANT
The delay in publishing q statement OF the hnan-
Cial condition Is CONT nulng TO cause considerable
grumbilng among the depositors, who are clamor-
bank state that the delay has been caused by the
conduct OF the Merchants and Traders Bank. the
latter holding large amount OF the paper paper
for indebtedness al the time OF the suspen sion: 1t
Is stated that the Merchants and Traders Bank as
1t TO the liquidation OF the debt due them and that
In consequence no report can Yet be Issued. Mr..
Archer, however expects to be ready with his
iement in month, or ten weeks alter the sus-
pension. There IL considerable diversity OF opinion
relative TO the soivency OF the bank, some OF the de-
pOsltors having every confidence that they Will be
paid, while others extremely doubtful about the
ultimate result however, there Is every reason to
and that tue stuyvesant like the other banks, Will be
able TO pay all The deposltOrs in full. The situation
Is very cheering TO the poor people who had their
issued on "Wednesday enabled many OF them TO
eat their thanksgiving dinner with happier spirit
than they could otherwise have done.