New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-01-26
RECENT BANK FALLURFS.
MEETINGS OF DEPosIToRs or TIE MARKET Saw
INGS BANK.

MEETINGS OF DEPOsITORs or TIE MARKET Saw
INGS BANK.
At the Market Savings Bank, yesterday,
there was DO excitement the deposOrs having received
to counsel among themselves elsewhere TO the best
course Of action Two meetings called at different
places. The first gathering OF the larger deposit
ors whose deposits ST. 900 and over 1t was held at
No. 10 Nassau-st. NJ. j. Dowley, who presided, ex.
planned that the object OF the meeting was To devise
for the protection Of the depoors He stated
that 100 deposors had called at his office during
the day, and protested against placing the bank in
voluntary bankruptcy He opposed bankruptcy person
ally, the ground that the expenses would DO very
heavy and he had to believe, from past expert
enco that large proportion Of the assets in the
possession OF the bank would md their way into the
bankruptcy court. The Bowling Green Savings Bank
officials had prepared number Of statements before and
after the banks failure. but Of them had embodied
the facts presented by tho depostOrs' Investigating
Committee and he therefore proposed that committee
Of FIVE should be appointed 70 confer with ihe Receiver
of the Market Savings Bank investigate As condition.
and report at future meeting OF the depOsitors.
AFTER much discussion, principally directed against
allowing the bank TO go into bankruptcy tho following
committee appointed: Robert McKcohnie represent
ing Typographical Union No. 6; Eugene Ferris G.. W.
Parsons, NJ. T. DOwcy aud Mr.. Munford. Another and
organized by the election Of W. T. Woodruff President.
and Daniel skannell, Secretary. and appointed com
committee retired for consultation the members making
short speeches, and deprecatng placing tho bank IN
view with Receiver Dennis who had informed him that
he the track OF COnkltn ana number Of wealthy
persons in this city who had been collision with him.
He hoped that the dcpOstors would do nothing to en-
barrass the Receiver Ephraim H. Jenny in q concise
speech. stated that he had great faith in the integrity
and efficiency Of the Receiver VINO was doing his utmost
TO relieve tho depOsors He also hoped that the bank
would not be forced into bankruptcy as the expenses
would materially impair the assets.
The Committee then recommended the adoption OF the
Rscstd the meenv opposed to tn, adjudication
Of the bank bankruptcy ana that committee be appointed 10 wal
the petitioner and ask her to withdraw.
fling petition IN bankruptcy against the bank by one
T. UOdnftt x ID. eyms, VIM. H. Thompson, John eau
tier o. IT, Marvin and Charles E. Maokey were named
the committee and were authorized TO take measures
for the protection Of the deposors but we're not en-
powered incur expenses exceeding the amount con.
Tibuted by depositors. proposition was received
from the other meeting suggesting the cooperation or tho
elected Mr. Jenny chairman. 1t will wait Receiver
Dennis to-day and receive statement Of tho Affairs OF
the bank.
TIE OCEAN BANK DIVIDEND.
The Ocean Bank began, yesterday, TO pay
s deposors per cent OF their deposits in accordance
with the order OF the Controller OF the Currency There
was no excitement, and at time were there more
than 20 persons in tho bank, 80 that buEiness was
Iransuvtou IaPi,"J s4"t PurvVT; rHCu man signed
declaration that be was the actual creditor of the inet
tuition and at received his money the counter
The Receiver thinks that further dividend Of or pos
slby n per cent will be paid In about six weeks The
settlement OF the remaining claims will probably take
some time
c. $ Stevenson the late President OF the bank has s
sued card in which he states that the liabilities far
the circulation cOncernedj, ceased when the Con
trOlcr sold tho United States bonds the Government
has 10 redeem the notes. The assets Mr. Davis e5t
mates viii yield slo67,GH 81, leaving An excess or $751;
3l3 a. which belongs 10 the stockholders, Ho advises
the stockholders not to sell their stock at the present
market price2O % cents on the doGr-as he knows
Mr. Davis has put the estimates at low figure. The
that The assets will produce 100000 more than the
Receiver eetlulat's