New-York tribune., 1871-12-15

to prevent the banks from making unviss and inn.
Srs $ e T. s@Sn e .sD % soS S IN
esses appoint receivers and Wind them =, Up: pSs Wn:s
ssii come Officially before the Controller and higher
Government officials cannot yet be known detsrni
1o ss 5S eond1e sn
neglect nseasance s proved TO mete out 10 nn tne
verest penalty Of tho law.
THE EIGHTH NATIONAL BANK.
Albion Man, receiver of the Eighth National oanE'
with corps of assistaho briskly engaged yester
day in examining into it, Affairs, tho character and
value Of it, securities and tho amount OF Its assets ana
liabilities and also In preparing statement which VIII
probably be made public this afternoon or tomorrow
morning. There was NO manifestation OF excite-
ment 10 tho vicinity Of tho bank, and Desioe
the officials engaged IN writing mp tho DOCKS anu
account, only two or three persons assembled
at any time during the day within tho ooors
Tho ocers who claim 70 be acquainted with the IMAM
cta condition Of the institution that VIII DO iound
ultimately IN condition ts pay AL inssDtedIsss and re-
viii 5e paid in l and that an sIce:s vi remain but
the sale Of the banks property to prevent q sSs. ms
pension would have WORKED Injury to the
rice It seemed advisable therefore, the directors
erty could be disposed Of to the best advantage. The
Btchers' and Drovers Bank to the amount Of 1000
but nearly twice this amount h secured to tho latter
tSss Sak o.ss Sy o Sanf
among their assets but to what amount could not DO
Mr. Hudson says that the statement published In some
Of the morning TO the eec1 tdss
the bank had become involved on account ne uhWse
and losing speculations Of its President Union Adam
ia untrue The only transactions 1t has had with ts
President are of the nature those 1t has nad WIN
,Ir1 aduon
him were in valuable and undoubted security. Mr..
is not in debt to the institution and mas NOT
engaged In vcntursome specuations OF any Nno "nae
THE USIoN-soUARE NATIONAL BANK.
At the Union-sauare Bank excitement was mani
tested than at tho Eighth National Groups OF nom 10
to 20 persons-most Of whom depositors-aed the
space in front Of the desks throughout the day. and con-
yersed ON the subject Of the suspension and the extent
to which they would probably be losers. Whenever any
one in louder tone Of voice than usual expressed Ms
fears that he would be sufferer by the suspeps tho
cashier Mr. Brundage, came forward ana IN an d @
every dollar it owed it's depostors These remarks gen
orally produced modifying effect Snd snS ams
mind The receiver, Mr. Beekman, said that he had
to believe that "a 60 Or 70 AZ @ nc
due him, and to distribute sixty or eighty per cent
Of their investment TO the me snma
President Of the Shoe and Leather BANK tnat
forthcoming and hence the refusal o. tne tst h
ON 0"f uesday nSht $4,000 was handed to the cashier Of
the shoe and Leather Bank coatesal security and
desor tsas spt to that he adds that to il
Wednesday morning the bank officers naa no souos os
give them accommodation forced them to stop No sat,
to comply with the agreement, but the true cause Will
undoubtedly appear In short time The receiver OF
will probably be abba BY noon to-day to furnish state.
menJ OF the condition OF the bank.
TIE WRIGHT COTTON FAILURE.
Tho cotton firm of William P. Wright & Co.
haze made settlement paying rs cents ON the dollar
80 cents cash and IS cents in six months Their liabilities
amount to &e C. Tho failure was caused by some OF
the customers Of the rm not responding on contracts
made in tho name Of tho hrm for their account.
likely flat the firm will restored to the privileges OF
rho Cotton Exchange at an early day. ana business tuy
resumed
NIiW-AMSTERDAM INSURANCE COMPANY.
MOTION TO DISCHARGE THE TEMPORARY
RECEIVER.
In the proceeding recently instituted by the
Attorney to close up the affairs Of the New
Amsterdam Insurance Company, motion was made
before Judge Cardozo in the Supreme Court Chambers
yesterday to discharge tho temporary receiver. On
behalf of the Company Mr. Marsh presented the report
of the Of Insurance and aavs to show
that gemens had been made that the Company
IL not now insovent According to these papers It ap
and liabilities exclusive Of capital s5os s6e os that OF
this liability losses amounting to &C. 9 IS were adjusted;
savr o. was Ais4 tC leaving deficit Of s17656s o3 the
capPl was s300oOG by arrangement with most OF the
ad r cnhS S to se be- pa thus reSans the
liabilities exclusive Of capital to about s29oo which Is
is $4,000 in United States bonds but Of the assets Is
tho lease Of the sixstory brown.stone building At
my rovements worth s6OcOO tho lease having still ten
years to rum and the present rents largely ~ exceeding
s3oOOO Tie aidavits further state that tho directors
have agreed to MI up the capital stock the amount paid
the Chicago losses do not exceed the capital and sur
holders this secured and that the directors are men OF
wealth who can fulfill this agreement. The afdsyfD
charge that ever since the re the officers Of the Company
have been in constant communication with the Supern.
tendent Of Insurance. and have acted under ms diec
ton and advice and that he had n,ycr that
Company but. on the contrary, led them TO believe ne
wond assist them IN maintaining IT, provided the capital
ceiver was appointed, he sent down and c0AecSd $50
fees for the examination which ct the request Of the off,
proceedings were pending close pp the Company thas
about two days afterward Bernard Casserly WHO was
eG q ad padd took a their assets in
cIndins the $4,000 coupon bonds Ills own receiv'
The motion came up on the part Of the Attorney
er 10 continue the injunction and wind up the affairs Of
the COMPANY the ground that It was insolvent and
ia impaired. On the part OF the Company was
claimed that by the agreement It's liabilities were less
tIan us assets and the Company was not therefore In
again; that under these circumstances company which
had existed since 1853, had borne good reputation and
D OF t." co"st
TO he appointed that should DO Lhomp
%srx sf c6car" who would be personally acceptable
to tho Chi ago policy holders.
Decision reserved.
EXPRESS ROBBERS ARRESTED.