The New York herald., 1871-12-30

Another Conseasence of the Ocean Bank
Faiiure-Ihe Central Savings Bank sus-
pended.
The Legislature OF 1870 granted charter to GER
tain gentlemen for the establishment OF q savings
bank at Porty-second street and Sixth avenue
under the title OF the Central Savings Bank. owing
10 some diculties the bank did not 60 into opera
tion until year ago last June when Charles Peck
formerly President OF the Mechanics and Traders
Bank, located in the Bowery, was chosen President
and other Ofncers elected.
They az once commenced business, and have had
fair measure OF success the name OF Mr.. reck CIV
ing confidence to the institution. The depositors
were numerous, but the amounts were small,
aggregating about fourteen thousand dollars.
The Central kept On deposit at the Sixth Ma
u0nal small dm0unt against which they
drew ~ occasion demanded the balance Of the
deposits being placed In the ocean Bank until
such time as the trustees saw good OppOr-
tunlty to invest II IN proper securities. Wnen
the Ocean Bank collapsed they had deposit
$4,000. and owed aepositors ABOUT $4,000. Since
then they have secured 50 900 accommodation from
another bank and commenced paying on deposi-
tOrs-a work that was continued u0til Thursday,
to suspend paymenS MIR. Charles BionGeii, Inc
Secretary, from whom the above lacts are CLEANED,
reports that the indeDtedness Of the institution TO
dep0stors Is $4,000 To meet this they have ONCE
furniture valued at $1,000, three notes OF hand
aggregaung 400 and the $l2OO locked up IN the
the Institution 10 pay dollar for dollar SO it
realizes from the ocean Bank; but lt ls believed the
sixty days grace allowed by law. lie reports the
dep0sOrs not at all alarmed, and that they satis
fed that In time they Will get all due them without
the intervention OF receiver. who would cause de-
lay IN winding up Its affairs The present officers OF
institution are Charles Peck, President; John II.
WILCOX Vice President; Charles Blondel. Secretary;
Leonard Hazletine, Cullen Ward, Joel w. Mason,
James r. Marvin. Thomas 4. Tripler, Charles Peck,
Joseph M Stuart, john II. WILCOX, John Il. Hazel-
Al
and E. 3. Kenney, Trustees. The secretary reports
that within week they have reduced the deposits
poS1tOrs $l2, 900.
The friends OF the institution express great sym.
by careful management butt up the Mechanics and
Traders Bank TO It's present prosperous condition,
Mnen ne was ousted by combination, who had pro-
Hted by his frugal management by majority OF one
vote on the election Tor President Mr. Peck then d.
rected all his energies to make this new institution
collapse OF the ocean Bank settled fate Of his
infant bank, that promised TO become large lnstt
tuition.
The Eighth National Bank-A Lively Meeting
Of Dcpositors.
meeting OF depositOrs of the above defunct
bank was held last evening at the Sinclair House
In obedience to the call OF q number OF well known
citizens. rive minutes before the hour at which
the meeting was called q stoskholder las drunk as
he could well be) called Tor the expulsion OF all the
reporters OF the press DR.. HUMPHREYS, one OF the
stockholders, was called TO the chair, and by
q unanimous vote the seven reporters present
were requested to remain. The drunken stock
holder then demanded that each reporter should
prove his connection with his journal. Tne deposit
0rs then hooted MIN, and he was the only one pre-
sent VINO voted aye. The Chairman finally secured
order alter one OF the drunken depOslOrs had been
quoted, and meeting that at its inception pro-
missed to end IN fight resulted the appointment OF
the following gentlemen (deposltors) as committee
to confer with similar committee 70 be appointed
by the oank Officers-tne JOINT committee 10 exam
Inc the banks cOndition and report:-Archlbald
w. Elder, detective Central Police ONCE, and Au-
gustus DOuvalle, Jr.
Mr.. JOHNSTON, as chairman OF the committee
announced that II would meet and organize at the
Sinclair House, at eleven O'Clock to-day.
The meeting then adjourned, subject to the call Of
Mr.. Johnston, chairman OF the committee.