The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-11-09
THE BROKEN SAVINGSBANK
ONE WOULD-BE RECEITER N UsTLED
OUT ny DEPOSITOHS.
Chnracs nRsinst the lawyer whom the De-
po-itors EMPLOYED. ngrinsi the Ola Boa rd
oi DirectOrr, nnd nRainat Everybody.

po-it"rs EMPLOYED, agninsi the Ola Boa rd
oi Directors. Rnd nGninst Everybody
About seventy depositors Of the Third
Avenue Savings Bank gathered lust evening In
- GORGEOUS directors room Of the bank build
| Ing, Mr.. Carm1n, the receiver was there to
welcome thom, but finding tn the majority re-
earded bis presence with oodnsss, he rotir.d,
George Sun Tn. bluG and burly Engshman,
| was chosen Chairman. MIR. Smith said tha. the
lawyer whom the dcppsitors had appointed to
act Tor them was pannins to have q. A. Josophs,
Chatham street clothicr, appointed receiver
though Josophs was oriously unit for the
position. MIR. Fitch mad also assured depositors
that the hearing before Judge Westbrook was
| 90 be IN tdo city Of New York, whereas II was
to takO place In Kingston, Ulster county, where
depositors would have no chance to out In a
protest against tho appointment Of such men as
Jrscphs.
Mr.. Edward Mallon, m oulder, who has $500,
the largest deposit In the bank, said that NOM
bers OF tho committee had suggested him for
receiver but he had declined not deeming him
self competent. MIR Fitch haI promised at the
meeting In the Germania Assembly Rooms to
ha' tho receiver removed within three or four
days. Immediately after the meeting, In tho
barroo'n below, Fiton said to one OF the com
mittee, Jacob Rgor, that IL would be a pretty
ceivcr, addinr; You'll be The head. and Iii 6e
avouns man named Cshiii acting as a SeeIer,
and Watching the committeeman, especially
Mcesra. Mallon, Ward, and Rlgor, who were toe
minority opposed to Fitch aud his plans Hora.
ilo & Hardy; who had been an active friend Of MIR.
who rad dcmap6ed that Maiion resign from The, the
committee, had nothing at all In IL.
mallon added !" AS for the proposed receiver,
Josephs, he has not dollar In the bank
himself Million, enraGed. cried out There is
means to rob me. He Ia no d e positor"
=. Int appeal was followed by loud cries. Of:
" Put him outV' Josephs became pale. and re-
treated. The crowd hustled MIN around, with
loud yensetui cries. He finally succeeded In es.
cited me turned on Mcdonald, the accountant.
whose freely pronered services they evidently
REGARDED with suspicion. Mcdonald, who is a
the crowd concluded to let him alone.
An lrl'hman moved that Charles O'Conor DO
Tweed!'
The tumult was deaiening At length tho
Clairman quellcd the wrdngling sufficiently to
,Ilo" Mallon TO resume his speech. Alallon said
tnat IN the Getnanla Rooms meeting, l. lwyer
Cottm IN told Ftch that he (Ftch) would AXE
sSO,Oo out OF the depUsturs. and Fitch retorted
mat Cottnen, had his Two ana half per cent.
acDOnald then spJko. He said tnat II allowed
access To the accounts he would furnish the
doom.
The following committee was appointed TO
secure counsel In opposition to Mr. Fitch
Edward Mshon. GeOrse Smith, Eugene Ward,
Jacob RiGer, hOmas Rooney, Henry Schmitt
man, PAtrtcK BIC Ieigue, julius B.,wen, Charles
ih1ips, Thomas Colem- Il, Patrick hcCue, and
WIN. Carberry.
IT.. understood that the object OF this move
ment, though not ayow, d, Is to sustain MIR. Car
man. Ihat gentleman So tb.t the assets on
the banks ledger are about ninety per cent. OF
tue liabilities, values entered at cost. Taking
the market Valuations OF the stock ana the tax
IN .tiOns OF real estate, the assets are about
hfty per cent. Of the Liabilities. II kept for a
reasOnaole time aud disposed of Q ,refully, the
assets NAV amount To SIX y-nye or seventy per
cent mr. Carman believes the trustees bono
TO be valid and biuding oblig ,tion. lie does
not state, however, whether the trustees have
any properly left to satisfy the uond. or whether
all or any Of them bayc been putnns their prop
erty out Of their hands.