The New York herald., 1875-12-19

President Spencer K Green s2 900 Sc 900 So 500
First Vice Pres't A. G. Dunn. 1000 1000 1000 1850
Seed VicePrest s. II. Cooper /, 500 T50 750 1000
Secretary VIM. b. Bibbins.. 5000 $500 $500 275O
Auditor Vim. A. Darling... 1000 1000 1000 1850
Surveyor James Stephens. 1900 1900 1900 1,750
Counsel VIM. B. Harison... $500 1850 1850 1900
Besides these salaries, which the Board voted them
selves $32 230 also obtained in very suspicious
The receipt book shows that by resolution
passed January IL 1867 the Of $27 $50 paid to
Two of the trustees but reference to the minute
book there is entry whatever relative 10 il. Tho
money received by Spencer K. Green and Richard
Kelly, as the receipts given by these show.
January 49, 1867 Rcceved $l5 600 as per resolution
Of the Board January IL 1867.
SPENCER K GREEN
April IL, l86I.-Receivod So 900 as per resoutionof
the Board January IL, 1867.
SPENCER K GREEN
January 1S67-Received 80 230 as per resolution of
The Board January IL 1867. RICHARD KELLY.
March H. 186T-Receved 81 900 as per resolution OF
the Board January IL 1867. RICHARD KELLY.
very singular proceeding also appears on the
prds OF the bank At meeting OF the Board on jan
uary IL, 1868, motion of William B. HARRISON, the
President directed to pay Mrs. Rachel M. Owens
S. in consideration Of extra services rendered the
bank by James Owens while he was First Vice Presi
dent in discharging tho duties of surveyor Why
special resolution making the payment TO Mrs. Owens
passed is Of the secrets which the officers have
thus far carefully concealed At any rate Mrs Owens
drew the money appears by the following entry
the receipt book
Mr. Spencer X. Green, President of the Third Avenue
Savings Bank will please pay to bearer James Owens,
the sum OF $4,000, the amoant donated 10 me at reg
ular stated meeting Of the Board Of Trustees held
RACHEL NJ OWENS.
At nearly every meeting after the first run on the
bank matters relative to the property received from A.
W. Dimmock for his loan Atlantic Mail stock were
-
2 1865 entry appears the effect that 800 shares
of Atlantic Mail stock sold fifteen per cent for
$4,000 II cost the bank $4So0oo This is the only
entry showing any Of the immense sum lost on that
stock
Al meeting held August A, 1860, on motion of Mr.
Darling the President was authorized to purchase
$4,000 Alabama eight per cent bonds, 25 900 Louisiana
eight per cent bonds and Is Georgia seven per cent
bonds at market value.
A. G. Dunn's letter of July 90 1871 declining tho
office Of secretary to which he chosen order to
Compromise matters says:-"For several Years the
bank has been virtually in the hands of three four
of the trustees and TO them is owing the present
satisfactory exhibit OF its affairs Instead OF It's being
the enjoyment OF large surplus terrible deficit
ists and the testimony of these very proves
cusvely that TO them Is due the fearful catastrophe
which overlook the bank some four years since,
and which now threatens its dissolution through
their obstnately holding on, in view OF future
place and gain" The conditions OF the compromise
were the resignation trustees of Messrs. Green,
HARRISON and Darling the abolishing the Offices Of
veyor and auditor that salaries be paid until the
bank had bond de surplus; that all salaries paid for
the previous three years, including the $500 OBJ
tanned by Mr. Harrison, should be repaid to the bank
No compromise was effected and Messrs. Dunn w.
A. Dooey, John Murphy, Hatfield and John A HUT
In 1871 two reports of tho examination of the bank
nt the instance of majority of the trustees,
made by the examiners, and both found deficiency
after reducing the assets to estimated cash value
being about five per cent and another three. ono
of the reports further showed that II the unproduc
tive property converted into cash and invested in
good per securities there would be
income amounting TO SIS annum On this basis
the Bank Superintendent after counseing with both
factions Of trustees finally concluded that It was not
his duty 10 interfere or suggest the appointment OF
receiver If such action had been taken II is the gen.
eral opinion that the depostors would be forty per
cent better OF than they are to-day
Early in January 1872, the Assembly on motion of
Mr.. Jacobs, adopted resolution directing ID. O.
Howell the Bank superintendent to transmit to that
body the evidence and report or the examiners OF the
Third Avenue Savings Bank and to give Information
whether the charges that any Of It's officers have used
its funds improperly have been substantiated.
This resolution telegraphed TO Mr. Howell at
Bath N ", and he sent letter TO Emerson W. Keyes,
in which he said aer auding 70 the fact that he had
instructed the clerks TO make up tho reports wanted by
the Legislature :W notice BY the SIN that the run
continues the bank, and II is evident that
tain parties determined to drive It 70 the
wall, but trust they will fsl in the a.
tempt 1t strikes mo that this last effort will
operate to the benefit instead OF tho injury Of the
bank. l think IL would DO well for
you TO show this telegram to Lyon, Darling & Green.
think 1t would be well for Mr.. Lyon to
get in proper shape the evidence In relation the
representations made to the Catholic priest induce
the first run on them In October, which he mentioned
10 me some time since fear some oil these gentlemen
may yet be placed in an uncomfortable pose.on when
the facts shall be made public Of the hostile they
have pursued toward the bank encouraging the
upon II and most clearly jeopardiZng and sacrificing
the interest the depostors crafty personal feel
ings The parties all entire strangers TO me. |
had personal FEELINGS to crafty and the only feel
ing had In the matter TO do what thought was
for the interest of the depositors aone but should
prove otherwise shall at least have the satisfaction Of
knowing that only influenced by desire TO dis
charge my duty toward them and protect their interest
as far as was in my power, and that was not in
huenced by improper or selfish motives | am
strong IN the belief that II President Lyon and his
trustees continue to stand firm that all will yet come
out right, and that their Efforts will be appreciated
and that they will be sustained by the publicn
Toward the close OF the year 1872 committee OF tho
Board was appointed 10 investigate the condition OF the
bank The committee prepared statement showing
In detail the assets according the secretarys state
ment, together with their probable value and also
what they would bring forced sale. The liabilities
also given and the and current expenses of
the bank
Tho following is an abstract of the report
As per secretary's statement. 81 564 o3S
PROBABLE value. 440, ,396
FOtCeu IZSO,B11
income. ........ .......... ...-....-.-... b1,654
LIABIIIrIEA
DepOsitors. ,oSg
mortgages W, 100
Alscehaneous.. 1908
Total. 81 636, 253