, 1876-04-25
Another Bank Itetircd to Private
Life.
Tho Hope Expressed that It's Depositors
Will Not Suffer.
Theories as 10 tho Causes Which Led To
tho Suspension.


street ia always lively With people connected
with tho Board Of Trade and tue neighbortng
olritce. but they arc continually going and COM
lug without otteu stopping III Quo place. 1t
tAkos, In fact, something quito extraordinary to
call an asaomblago together ut any particular
point. Such was tho case In the rreaout In
Btance. Tho attention Of tho crowd was rlv.
ctcd upon
WRITTEN NOTICE
poated on tho door Of Tho City National Bank.
It was as fotlowa:
The undersigned regret 70 snnounse tas. the .hare.
sud 20 into voluntary liquidation: ...
Tno .sesd drain upon tne Sasn 1e.ofcss or: o. she
IL to sau1o o. III o a. bs
In the opinion Of tho Directors Of tho bunk It's ataess
'rf WIRE ~ 2s@aso sno e esnvI our a.s
and III ths meantime w tho indulgence ot onr do
'0''''''' - 0'Ne@ - '''' 4. d. Mrszn, c.st.es.
A TRIBUNE reporter called around at tho bank
shortly before noon to ASCERTAIN tho reason for
this sudden moye on tho part Of tho bank man.
agers. Tho statement regarding tho closing Of
Tho doors Of tho concorn was only theoretically
true, As tho bank WAS open, and tho regular
forcs Of clerks were busiy employed as ususl.
MR. ". BUSHNELL,
President, was found in tho private ollloe Au-
svorlng innnmeraple questions from anxious
and Inquistiye visitors.
'.Cnn you give mo somo information as to the
cauBo Of the banks suspension ?" Inquired tho
reporter. ,,,.
at present, replied N1r. Bushnell.
After some further conversation. the reporter
was vouchsafed a alp Of paper containing tho
Of tRo seeo oeofa e f. hs ,6 Ss9k a.1 h9y
D. Miner; Directors, ". I,nshncll. e. II. Gnua-
mou, T.. Il. lleod. J. J. Gillespie, a. y. Minor.
Dir. Bushnell further stated that the Buspon-
alon NAB unexpected by tho officers Of tue
bank until Saturday evening. wllou It waa found
sLat ,hero wns not enough cash on hand to mako
tho clearugB 1lontay. Accordingly q meeting
OF stockholders Was called. and hold boforo
bAnking-hou yesterday. 1t which, NJ atated
in the notice above, 1t was decided to cIosa tho
looEs. . ..
mn. CHARLES y. 1R10os,
of tho law-tirm Of Bonnoy, Fay d QriRg5 wna
noxt Waited. He has been acting az attorney
for tho bank for homo timo, and might naturally
10 cxpected to know something about Its coual-
tion. He stated to the reporter that the suspen-
| Bion was entirely surpsise to him, and that be
| lad always had tho utmost confidence in tho in
atlsution, having there at the tins OF it's oloa-
ever. to fsol much disturbed at the evouk, Ok
| pressing tho opinion that thoro would bc no
loss to dopoatorB. The liabilities 10 dspositora,
! ho said, moro about ss00.000, but the assets
1 WQuIu nuI6 tu1L tOfpl tlAk hllVtuts 4Au Gauho
OF Tho suspension, "a ho hsd bccn informed.
mas not roccnt, "a might oo supposed, and az
he had supposed until told other
wise, but thcro had been : grad
| ual stringDpcy in ita aifaEs for moro
than year. Saturday afternoon, when tho
o1ea1ings wore made, 1t bocamc evident that
there would not bs enough caah loft to mako tho
ne1t clearing, and therefore tho Directors uiso-
" chose to suspend at onco, rathor than attonlpt
to carry the concorn along In the hope Of hnttol
tiEes. The assets, he thought, were Of o yoty
good and aYallAble character, being 1nostly In
real eatato and firm mortgages Tho bank
| owned threc-fonrths OF tho building tn which 1t
was located being four Btory stope-ffont odi
fco. known AZ Nos. 1b4 and 100 Washington
stroot, aud was very valuable nieco Of proper,
mostly upon tho stockholders from the Blrink
ago Of stock, which had been until recently
quoted at l80.
| Ill. 4. Il. M1aEn
was occupied all day In giving ont checks through
| tho Merchauta' National Dauk, IN tho corner o1
| LaSaIlo and Madison streots. Ho declined tt
| tuaAe any statement OF tho affairs OF tho bank
saying that 4 complete report would be made tt
tho public In two or t4ree days. -
Tho City National Bank was organized In 1865
A. D. Heed being the original inootporato1, with
capital stoc1 Of $250, 900. MIR. Iec1 has slnct
withdrawn, tie principal Htockholdors NJ proa
ont bntug +. II. hesa. laa nephew. =. Il. lam
mon, A. B. Minor, ". Dushnell. aud J. J. Giles
pic. Tho bauk WA examined about two month
ago by Examiner ". T, Watson.
| tue LAHT OFFICIAL REPORT
Of tho bank 0aa published March 10, 1870. ant
waa as follora,
IQau9 and ItHc0unt9, 1p3,81