The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-09-16
BROOkL TN'N EROkI,N RANM.
What Depo.itors are Likely to Get Out of the
wreck-A Costly EdiHce.

Tho Long Island Savings Bank in Brook
Ign was yesterday in the hands OF its receiver.
Mr. NJ, c. Ogden. who having filed his bond for
100000 received all Of the banks assets. books.
and papers. and gave his receipt therefor.
There were no Clerks at the usual places OK.
cept one detailed 70 comfort dolcful dcpositors
who dropped in TO mike inquiries. All the in
formation ,ouchsafed was that the hank would
doubtless be able to pay scvcnty-ilVc p"r cent. of
its deposits 10y the 1st Of nest January. and that
IL good luck attended the receiver they might
work ont more in time. The trustees had u
meeting To talk OYER TIE situation and they
seemed Ia agree that the best thing had been
done in the appointment 81 recover. In
Genera, y Office on TN officers Ot IN" bank. re-
curing them 10 SHOW eau So at SCHENECTADY On
ed. Col f. Il. Fowler. the - reinry. wrot" that
the bank was already N tn" hands of II receiver.
TINS VIII nr9v,G an .sigrpei To '.il proceedings
Mr.. ogden found tine securities held hy the
bank as they hat been represented; Thorc
them. There were WawarSing bonds amount
nE to ~ 500 aud Platte hurgh bonds amounting
to s2i.uoO. with which he was not familiar but
ogden said that hc should make an effort To- de-
clare dividend OF twcnty-ivr pnr cont, 10y me
Iii OF October II pO--ill" "" h'li,Ncd that tip'
seven per ""N: mortgages. viii had been
carefully placed. would easily soil for their til
value. Mr.. John G. Perry counsel " I'll" bank.
thought thai over seventy five per cent Of the
banks indebtedness 'ouid Dee paid IL she build
ing WAS properly managed. II If was forced on
the murisft, there must 10" heavy loss. Mr..
Perry said iurhor that 'iw,"n 5000 and
slU.OuO would ~, -,ycd ~ tha hanl. in interest
hv the SUSPENSION. and that amount should be
deducted IRON, the bank liabilities.
Ii Is a~srrtr on good authority that tho cpun :
~ towns ~ King county have nearly all Kept
| their money in tho Long Island Savings Bank,
but tn. bank official, Yesterday showed "A Singh
lar rcNcenc". They said shat il wasn't Che Gus
! tom to tell who % tanks d"pp,or- were. and
! that thc public had no right To- the information.
| II IL known that the Commissioners ~ Conc
| mon Lands Of Gr;lyorcnd. who receive the
! revenue from tn" leasing ot the toncy Island
| lands. kept Il lurg" amount on deposit there.
| and the sum IL estimated at from t2O.hu to
! siu,unn The iuOu"y~ Of Other Oi the county
! towns are also snid To- be- TIED Up there. Ono old
! farmer nnn"d S'henrk. Of GrHycscnd. mad a
! deposit Of t33.7Uu
The bank building. which has been the prin-
! cipal thing to wrct, the institution. is "A comedy
| llrcstunr structure. occupying tine corner "a
Fulton street and Busruni place. II cost l9su uO
exclusive oi ia" ut. which cost Slu.uuu. IDS III
| 10y y feet With three stories and a basement
aud IL called fire proof. II wds built when
! labor and materials were high. Gen. l.. ;
| Cro,ko said that he could hot see how any per.
| son in his scia"s could claim. Us tho Bank
| Examiner was told. that the building could ~
! erected for So. vOD and thai tho who' property
| was hot worth over slVl.OOn. IL co'i-dcr,,
! the lot alone worth that. In his opinion, th'
/ bank building. NOW that the blnk.n. Office
| were Ia b" vacated. could hc rented ~ from
$4,000 to 1000 a year; and II held, II coul,
I va; he. sold for something like its cost The de
| posts received since the bank set in force IL
sixty clay raj. ARE To- Ice considered nS sp.ri;i
deposits. and nrn Ia be paid ON demand. The,
amount 10 si.j9O.1u.