Evening star. [volume] (Washington, D.C.) 1854-1972, 1874-10-07

ieth street. The presiding officer, Pro. Samp-
son, IN calling the meeting to order, stated it9
object to be TO hear a statement of the financial
embarrassment Of the institution by Commits
sioner Puryis.
STATEMENT OF COMMISSIONER PURvIs.
DIR. PuIvis vas introduced and stated that he
was present in obedience TO request sent to
all the commissioners 10 attend the meeting.
lie spoke Of the establishment OF the Freed
mems bank as a necessity arising out of the late
war; and said that at the present time IL had
10000 depostors in all its branches and at one
time its deposits aggregated four million dol
lars. This, he said, was too tempting for the
greedy rapaeity of the American inancer aud
very soon q ring was formed which was desig-
mated as the finance committee, the members
voice.~WLo composed the finance com.
mittee?
Dr. Purvis-Messrs. Huntington aud Cooke.
The commissioner continuing, said that the
statement heretofore published and signed off,
cially by all the commissioners, would be about
the statement of the condition of the affairs of
the bank he would make might, but certain
subsequent information received concerning
the assets changed its character at the present
time somewhat. The amount of liabilities ag-
gregste S2T94 sos %; assets, 50, $50 753 q. The
commissioners have paid off all the banks in
debtedBess, such as pledged securities, which
were taken out OF the bank to raise money
when the several runs were made on the insti-
tntloD. 1t the commissioners could realize all
that Is presented on the face of the assets, they
conld divide SO per cent, but they could not
owing to the character of the same, the larger
W.
are not now available. OF trust deed loans on
property the bank has 81 ,3O1 ,92S So, MIR Puryis
said he had asked The actusry what he thought
would be the loss upon overestimatine property,
TO which be replied about $4,000, bat he (Pur-
vis) thought il would bs about $4,000 Tia
loans on personal securities amount to S31T ,459.
large amount of this was loans on cOllateraIs
that are not worth the paper they are written
on. "I don't like to mention names. and though
| would like to aliude to some L think it pru-
A Yoice.-Let's have them.
MIR: Puryis.-No, no; can't speak ont. Not
that am fettered, for l fear o man. The loans
10 the Seneca Stone company were made upon
securities OF no value. 1 asked Mr.. Alyord
about some of the securities, and he said he was
blinded; that there was treachery in the camp.
The loans made to this company for $4,000 are
secured By secOndl mortgage bonds, upon which
there is first mortgage Of 100000 outstand.
ing. Nothing will be lost on the banks real
estate In this city, which is estimated at s444,-
t33. The furniture, safes, SC, of the bank are
estimated to be worth at forced sale SIS, PSI. No
loss is anticipated on securities of the District
OF OF Columbia held by the bank which aggregate
- ,i9S The bank holds of North Pacific bonds
S't5.l9. They are the bonds of MIR. Jay Cooke,
tue plous money-changer, who thought he could
oulld great railroad by his own energy ard
enteIp Prise, even if Uncle Sam had to be robbed
or hfty-seven million through credit m0bilitr
10 contract similar enterprise. You nav con-
graduate yourselves that you have not any
iaIge quantity OF North Pacific bonds. don't
t6lnk they are worth anything In United States
treasury bonds there was only 800 left IL the
deposits had all been invested in these securi-
ties the depOsitOrs could oil be paid in gold and
there would be no trouble. There was a claim
OF u ,oJ4 81 against the firm of jaw Cooke &
Co. from which small per centum would
Doubtless be received when that bank declared
q dividend.
The sum of SIS, eco was loaned on the mort
gage bonds OF the Maryland FreestOne company.
- ne loans OF the several branches amounted TO
tne enormous sum of S3i0Gll 81, one.half of
which will be lost. The great bulk of the money
VAS ned up. The class OF persons who came to
the bank the most anxious were those who have
s USTtCwea sas sums OF money upon their prop
erty, worth five or six times the amount loaned:
theH notes were due, and they could not paw
the principal, and they did not desire to fore
close and sell the property, for not only the rea-
son IL at property was low, but, in addition, to
save The property TO the borrower, who promptly
paid the interest and had promised very soon
70 pay the principal. The longer the matter
would get. After the close of the present
month they would not have single cashier or
any OF this horde of dependents to pay, whose
expenses required the sum OF SO, goo per month.
IN conclusion he urged those present to bear
with me commissioners, who were ever watch
al OF the interest Of the depositOrs and not to
Allow their fears to SO influence them as TO cause
mem TO Sell their bank books at q discount
RESOLUTIONS WE'RE ADOPTED
expressing confidence in the commissioners.
but cOndemning "the men who, in their official
connection with the Freedmen's bank, proved
themselves recreapt TO their trust by defraud-
ing the depositors of their hard-earned savings.
by which the bank has become embarrassoI3
ELECTION OF OFFICERS BY THE So9rErzsr
NEHKNs.-The Washington Schuetzen Verein,
yesterday, elected the following officers for the
ensuing year: President, John l.. Vogt, vice
president, William Helmus; first shooting mas
ter. L. BeyeT; second shooting master, John
Lipro recording secretary, II. l.. Blolt:
nharee secretary, Ernest Schmidt; treasurer,
Chris AandeT; comptroller, Edward Abner; d. |
rectoTs, Z. Kneesi, Charles Fischer, W. Beh-
rens, G. Gockeler, George Matz, Chris. Run
pert, Aug. Koch, W. Fendner, Charles EbeI.
Mr.. Simon Wolf positively declined reelection
as president OF the Verein.
Inc GermaDIa SchuetZen Veren last night |
elected the following officers for the ensuing
year: PTesident. August kleinhaD; vice presi- |
lL nj, George Fox; first shooting In aster, John
Waldemann; second shooting master, n. Ter !
singer; secretary, Henry KOrls; tire asnrer John
hozeli stanaard-bearer, Ernst Dahle; dirac-
Tors, a. Beckman, George Fisher, George Ger !
nold' d. heInmann, Charles Frederick,
n :. SAVED PROM A rALss Srap.-On SATURDAY. |
ooaIcers m-aenty and Reardon on duty at the |
!. -'1nl0fe and Ohio railroad depot interfered |
lOr me protection of young girl Of respectable
family who was about to make a trip to Balti- |
more with young man named +. Peck. Peck |
appeared partially intoxicated, and the actions !
with some misgivings. The officers therefore |
made inquiry Of her and ascertained that Peck
had induced her to accompany him to Baltimore,
saying that they would return in the evening.
When informed by the officers that the trip !
might terminate in her downfall, and that Peck |
was not in condition to appreciate a respect
able lady's company, and using the more pow
erful argument that they should acquaint her |
parents with the fact of her going, she immedi-
ately changed her mind and resolved TO return
home. Peck was abusive OF the Off GERS and
wrote letter OF complaint to Major Richards,
but the latter held that they had only done
their duty.
FIRE.-About 6K o'clock last night an alarm
OF Ore was turned In from box u corner of 9Th
and NJ streets,) for fire discovered in the bow
window of Began & Wylies dry goods store, on
eth street, near New York avenue. Loss about
$500; insured. 1t is to be hoped that hereafter
police officers turning In an alarm will stay at
the box to direct the fire companies as they ar
rive as TO the exact locality Of the fire, or sta
ton some one for that purpose, as serious re.
suits are likely TO happen by neglecting TO do
so. In this case the first company to arrive at
the box could not find the fire, ana after "sig-
mailing i'm and getting an answer that they had
gone TO the box turned in, they returned home
under the impression that another false alarm
had called them out.
DEATH OF SPECIAL AGENT JAMES L. Nc
PRAIL.-Mr. james l.. McPhsil, we'll known in
Washington in connection with the government
postal service, died suddenly at his residence,
No. $50 North Fremont street, Baltimore, yes
terday. MIR. McPhail was special agent of the