New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-12-08
TIE SAYINGS BANES.

SUSPENSION OF TIE GERMAN UPTOWN INSTITUTION
ALLEGED DEFICIENCY OF $40, oo0-vIgws OF
SUPERINTENDENT ELLIs-s. II. HUBD MADE RE
CFIvER or THE THIRD AVENUE BANK.
On Monday morning notice was posted on
the Of the German Uptown savings Bank ~ Third
and Fftyffthst., announcing that no drafts would
he esscd and deposits received until the accounts OF
the bank had been examined by the Superintendent Of
the Banking Department The President, Henry
Causeu, f., of No 500 East OBSERVATION-DISCLOSURES has
recently been electedand The trustees have determined
apply for TIE appointment Of receiver as soon ~ the
examination OF The accounts s completed IL was re-
portcd yesterday that Mr. ausen attached the blame Of
the suspension TO the former President Christian.
schwarz of tho Empire Laundry. II also said that
Mr. Clauson had discoucTed deficiency Of $4,000 in
the accounts Of the bank
The Secretary Of the bank who n o. esPrsldent
scwarz said yesterday, in conversation with a reporter
q TIE Tribune that MIS- father had not been compelled
resign his position, but resigned voluntarily, partly on
account OF 81 health and partly because of hs own nan-
cia embarrassments which he feared wond be detri-
mental 10 the interests OF the bank This rcsa ion o
CURED on Oct 27 The Secretary said that there had
been no arranging Of the accounts EXCEPT that Alabama
bonds which were worth 50 Goats on II two years
and which were supposed 70 be worth about 30, had
been found worth Than 10 cents on 81 The
deficit Of coo was made by cutting down the value
Of the rea OF the bank which had largely depre
ciaed There ouly call loan at pIeseit-%4ooo
TO Lewis saaI Ti was considered good at the time
vas made but is not good now. The secretary said tlat
so DAYS notice had been requirsd in October at the
time suspension Of the Third Avenue Bank After
about wec, business again resumed but when the
run began the second time the notice was again enforced
North Carolina and South Carolina bonds which were nt
down at $500 are now worth only $500 The bank
huidng and ot cost S206 600 and put down at $50
600 but nav not be worth than $4,000 The part
not occupcd by the bank rented for $l03OO but 3d.
o,O rIy
eey schwarz arose from the depreciation of real es
tate lie was confident that deposors would receive 30
or 95 per cent OF the amount Of their deposits
Superintendent Ellis Of the Banking Department was
visited at his hotel last evening by reporter OF THE
TRIBUNE lie said that change had occurred in the
cond the savings banks during the past
week The German Uptown Bank Mr. Ellis said he
knew little about The statement of the condition OF the
hank which was made on Oct. 81 was prepared ny q
CoIntee OF which the present President, Mt Clause
was a member; It showed surplus OF over S25,oOO.
MP Ellis could not reconcile this statement with the
report that feaot Of 600 found by MT Causen
In he Alabama bonds said there had been no change
since oct o. and the nth and sonth Carolina bondS
we're not included in the statement made at tat uIne
The report that the Mutual Benefit Bank was 10 resume
MIR Ellis did not confirm. At the bank itself II was
stated Yesterday that tie affairs 10 be settled as
as possible.
Application wac made seine days ago by Man Il Par
sons on behalf certain deposors TO Judge Donohue
In Saprene Court Chambers for receiver OF the Ger
man Uptown Savings Bank Judge DonOhue thinking
that such proceedings should be taken by the Bank De
uartmout at Albany, declined to appoint receiver IL
was stated Yesterday that the Bank Department had con-
scented that the proceedings he carried on mere, and
Jidge DAVIS having meanwhile become the presiding
udee Al Chambers the papers turned over To him
Judge Da, stated yesterday that he had not examined
the papers Uhl il recommended FOR receiver by
the parties % this proceeding
A Nyw REC ivER FOR THE THIRD AVENUE BANK
samuel H. IInd ~ TO. 53S Lexngton-age. yesterday
was appointes receiver OF the Third Avenue Savings
RAM at Thir-av. and Twentysxth-st, IN the place OF
william 6 Carman whose appointment was objected 10
On account of his having officer Of tie bank MT
uurd,s bonds are $4,000, double the amount OF
the original bonds The order was maze by Judge
Waetlr1ok and the bonds approved ny judge
T,Sno,ue The b0ndsnen are Nathan Seeiey, h H.
Laurence ana T. H. Nichols Mr.. iiurd sald 10 reporter
- Tur 1RIguHF that ne had no interest permanently IN
he bars and ne was determined 20 manage s ailtrs SO
o. 20 secure as much as possible for the creditors Inc
c1der appointing HIN proydesls ala the order appon
no Mr. Carnan-fhat all securities and All fGnds heyohh
900 be deposited with the United states trust SO
pany and De not withdrawn without the express oI"e' "
tEfC