The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-12-06
The Guardian Savings Bank.


ment from this institution and In consequence the
depostors feel very much dissatisfied. The Bowlina
Green Bank receiver. who has been appointed since
Mr.. Quinlan, was deputed to act In the same capa-
city for the Guardian, and the people cannot under
stand why the AFFAIRS OF the one should be SO easily
cleared up while such uelay exists In connection
with the other The business transacted at the lat
ter, however, hos been greater than ut the
Bowling Green and as the accounts were
In q much more complicated condition there
has been more difficulty In winding up. reporter
called upon Mr.. QuiniAn yesterday 10 ascertain
when me statement would De pn1lisneG Mr vu,n
the questions put him.
"How soon VIII you issue your statementT
ana not sooner. When they think 1t proper the
Statement. viii be publisned.n
] .sWhet IL the cause OF the delayf"
: swell, people seem to have very erroneous I'm.
prcsson relative to the whole affair They think e
the easiest thing In the world to settle the aars OF
an insolvent bank, but II they had my experience
for the past few weeks tney would not have such an
.:How do You expect to come out when tho &C
erng ell the liabilities Of the company the assets
as they como In turning out to be very satisac
positors Will be paid. Bank books are now being
Issued to them, and the amounts due them are en-
the entries on the books or the company, that no
trouble will be experienced between the officers
In o few days shall be In position to make my
statement and shall Immediately furnish you with
y copy. In the meantime rest assured that II IL no
fault OF mine thas II has not been issued sooner.
am anxious on account OF the poor people, aud
instant longer than could help: but the amount OF
work TO be done was so great, anu the accounts
force things to settlement when affairs were IN
crude state and not at all ready Tor Iair ending"
Tho stuyvesaut Bank Smash-l lannti0n Of
Depositors.
of ha dam NJ
Bank was held last evening at the Sinclair House to
hear the report OF the committee appointed At
previous meeting to Investigate the financial condI
tion OF the institution. Judge Kelly, chairman OF
the committee, called tile meeting to order, when
written report was made censuring the directors
and President for their management OF the bank,
and stating that while they had every conf
dence In the integrity OF Mr.. Archer, the re-
cever, they were unable at the present time 70 as
certain the condition OF the bank aud requested
more time. On the motion to adopt the report Mr..
Peter Gillespie. one OF the depostors, led OF In
TRADE against officials, bitterly denounced them,
and especially Mr.. Bell, OF Bell Brothers, who sat
beside the chairman, and, declaring that the time
had come when deposit0rs could not be whcedled
with soft words, moved that two additional names
be added to the committee to watch proceed.
ings and, necessary, prosecute she parties
who had mismanaged its anairs. He
declared that seven hundred depostors were deter.
mined to take the matter IN their own hands. A
man named Raynor, cashier OF q downtown bank.
who made himself onicious as q stOckholder in the
Stuyvesant, hustled out OF the room bv j. Tyler
Kelly and others, who declared That the depostOrs
were not disposed to submit 10 nonsense. An
informal and stormy discussion elicted the state-
ment that the a1ars OF the concern are 30
mixed up with the Manufacturers and Merchants'
Bank that they cannot now be separated that the
oncers OF the Stuyvesant have loaned over co. 0CO
70 one Parkman, who has an ONCE over the bank
ana lGiesple says a cotton GIN at Memphis-Iho
only property that he is known TO possess. The
Chairman announced that this debtor promised 10
liquIdate MS debt II he given time and the re-
p0rters were requested not to mention his name
lest IL would injure his business standing Al mis-
name does not appear IN the directory, no sertouy
results follow from this notice. Is was also
stated that large sums had been loaned TO AR
Hurd and Harlem builder very questionable
security. The meeting dnally adjourned to meet
tour weeks from last night. $3.50