New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-08-11
STATEMENTS or TIE OFFICERS.
oIJGI,, AND PROGRESS or me BANKS TROUBLES
ASSET, AND LIABILI ,E,-WHAT pErosnoK> MA

,
A,>ur, AND LIADIlI. ,E,-wH,T pErosnoH> MAY
INrECE
TIE Abingdon Square Savings Bank, - small
institution On tac vc-t s.lr OF thc city, near tn" jnnc-
ZION OF Iiahtll-. vo. and lIudson-St., suspended
Yesterday rs order ot Bank superintendent Eii'-.
The officer of the b,nS G. schumacher Pfe-dehti
B,csman T. Huruiltn, vice. 'csidcnt, aud George W.
Brown. Secretary. Ldar r. Brown Is the com
sell II wa organized in 1860, when saw
Ing, bank charters were .,anicd by tht Legs
afurc Without careful inquiry and strict examination.
If wa, iu the Immediate vicinity OF two stroaf banks and
-r-,r: weaker ones and 70 Is stated that from t' INST
IT, only hope OF doug a successful business LAY
10 the exercise Of great prudence ana rhIe"H hh'h'
cial management. A reporter OF THE 1kinuSE
lest evening called the officers cud trustee aud Wa
informed that the entire assets the bank consisted 81
real ,-fat, bought under foreclosure "i mortgage h'd
Iy The bank and the furniture ard fixtures. Hr se'n-
mqchcr The President, gave tuc following hsui's SHOW
ing the pr, cent condition OF the bank:
Assets: Real estate On Broadway Williamsbnreh
Cn. Ir-r hu-.- on Iaiscy-t., S1l,5uo; other prop
NV 81, n, .irnslurh - 500 three houses IN Brook
I'M So 600; bonds ana mortgages, '!2N' iu
&c. 500, aud cash safe, 1000; masking tn'Ai ol
dri,n pr IS 900; not, held by 10" Hanover NdU3n'!
Bank. 80 600, aud MORTGAGE on SON" "i tue ''' ~
tat. 5000; making total OF slo-,ouu
Mr. : ,bImacher was uncertain whether the amount
sa,,raJ ,y the trustcrs-S JOJ-was included ia the
a,,, statement These figure. show apparent sur
plus Of few thousand dollars, provided The iul amount
paid by the bank Tor the real estate ana
Gxtur-, should be realized. Mr: SCHUMACHER SAID
That hc had been the President OF the Institution
three years. and al his family and several relatives
were dcpostor. 10 large amount lie iau onur ava t
could to save h" b.nk aud protect me orpoi''ft, pu
the depression in real estate had hclgrd up ne wy "i
IN, trustees. and the great obstacle 70 -u',.'
T,,kyan r. Buruham. Vice President, stated that the
action Of an" Bank y, i,a iu,i, va, /, ,c barb
officers of the bank "a they mao h"t * fi
pr5cccdngs. Inc bank examiner, Nj. Eeid, ne rll.
f. a ~" irrc.uerit.cs. which were immediately cor
recici expressed himsc1f s3iishcd WIN tnc
said had struggled against adverse fortune
au6st from it, Organization In getting MS cnaricr om
al fr.t were very large The secretary wa- paid
5000 prr "ii Ic G;,7iii'. $500 ja''' i' "'.
pcuscs for fixtures, furniture etc, so iAat AZ
Inc tna 90 % do t"G H., pr.d@n va. rhonas Nell
n that about fvc years ago he wa, invited
a. me- one of The trustees. and immediately after hs
ga ry1'" 70 the lowest possible figures, and
otr,ri economy was pacticorl. As to the bogus
checks hc had not boon ai 10 me iIaH''' non ana
",.raI II No wrong however, had been done Ia The
dcpp.ior4, although the checks OF course mace thc
amount oil bushes U"" i'm ~. anp,,I Tryort
Nh inh1n defended the course Of The trustees IN max
ina, building loans aud stated that the profits realized
hao nCIud materially To pay OF the debt. Nh Hunnam
Thought that within ic'onahIc tlht lh' trustees Moup
nave hrc able to dispose their real estate to adynt
nee and 10 have continued business without the loss 0i
a dollar to tie dcpOstufs.
A s,utlcu ia familiar with the Affairs Of this bank
stated that there were about 800 dcpositOrs, who were
residents of the Ninth ward and mostly persons of small
I.c.u- he amount which will probably he realized
from the ass.t- cannot 1T thiS carly day be tudrd
a. m, a, accuracy Tie trustees have been tudrtyOIug
ia sell me real estate for several month, without succcs.
The the ucctnsT, expenses
Of winding up the iar-, ana ING sac oil ne ltd estate
and rs ic, within year, under The unIa'oiahc err
cum-tanccs when have always characterized forced
sale, OF bankrupt estates, leaves very hilie margin Tor
encouragement n was stated last evening that the de
ponl, could not hope receive more than 30 cents
lac dollar.