The New York herald., 1877-09-19
Result of the Meeting OF Its Trus-
tees Yesterday.
QUEER TRANSACTIONS.
What Kind of Collaterals the Bank
Officers Loaned On.
DISTRESS OF DEPOSITORS.

r,,.s p.,r seams 10 increase rather than diminish
The number OF poor depositors who visited the inst
utou Yesterday look after their interest was very
numerous. From the appearance OF the persons VINO
we're ABOUT the the patrons oil the institution
.oe,,ed u. he principally hucksers, fruiterers, poul
terers and generally ,he middle men and women who
do business on the wharves nd upon tho highways
adjacent 10 Greenwich stcet They came with their
oassbooks IN hands and gazed upon the formal
notice of the Bank Ex.b- ordering the institution
closed in a oazed O. way, and then went of be-
wildered and SAD to mourn over their msfortunes
Not ALL however, were passive Groups now ana then
gathered upon the sidewalks, and there was some ugly
talk among them regard 10 the officers
and the way the bank was run in the in
lerest of few men. There was one noticeable
change in the aspect OF tho place from the day pre-
vious-viz, the criticisms on Mr. BalPs connec-
ton with the banking Office caused that gentleman to
close the door of communication between the oanK
and his exchange office, thus making the connection
of the two institutions less apparent II seems that
the report was right, notwithstanding all denals to
tho contrary that the bauk loaned Ball 81 900 each
day 10 carry his business OF money exchange, and
the profits the we're divided al the close OF
the day's transactions Is said that tho prohts thus
lccrulng credited TO salary account, but ths
matter is yet to be investigated An additional notice
was found upon the bank door yesterday morning 1t
ran as iolows:-"All checks drawn by Young Weg-
man on the Cairmont savings Bank will be paid when
presented at their Office No 70 Barclay street." Tho
arm we're waited on at the number indicated by
HERALD reporter, to whom Mr. wegman sald:-"We
have sent our all the country, and put up
the notice because do not propose TO have our
names dishonored because the bank has failed We
are dealers in nut and have to send u number OF
checks for greater amounts from Florida to
California. We unfortunately drew on this bank"
MEETING TRUSTEES.
meeting of a number of the gentlemen connected
with the bank held at hapast twelve O'Clock in
the room in the Of the main ofce. The Bank Ex
aminer Major Orvis, met them and the general siua-
tlon discussed The trustees present were Messrs
Marsh Hasey W. Knapp, Robert &. Cornell, G. d. DIS
osway John O. Hoyt and Henry Parsons the latter
being also the counsel OF the company. Mr.. Cornell
took tho chair and then. tor the hrst time the real
situation of the bank was laid bare to the trustees
Mr. Parsons communicated the nature of telegram
received from Mr.. Broadwel the president, in which
Mr. Parsons had urged Broadwe TO be present. and
the latter from his home III Jersey CITY, hau responded
that he sick and urged Parsons TO come and see
AIM Alter this communication Major Orvis, the Ex-
amncr proceeded to explain the the situa
ton OF affairs, which, briefly, is as iollows:-
Par Value. Market Valac Totals
Bonds mortgages. SlS, $50 90 sal $50 SAL 43O 90
u. s. bonds lOiOsL. 3,l0O 20 3o4s
Il s. bonds 5-2os.. 400 90 432 $3.50 90
Call loans............ "a, 73s %
Cash hand .,....:.. 1850 40
Cash Prouuce Bank. 1,O96 70
Casn n. Y. National
Exchange Bank. 4l9 O6 S,246 rs
Total ................ $73, i9l 70
.fFlnd items called cash which
are OF doubtful vaue. S24, 752 ~
LIABILITIES
Due depostors, upon which In
terest IS paid SOL, SO5i7S
Due depositors upon active or
check accounts. 43,2O0 GS
Money borrowed colaterals-
From Union Trust Company. 9,l00 90
From n. Y. Nat. Ex. Bank. 1000 90
From n. Y. Nat. Ex. Bank. Is 0U0 90
From william Cooper. $500 90
From North River Bank..... II, 900 %
OverdraiL on North Ryer Bank =, 100 90
Unpaid check Produce Bank,
held by North River Bank. $500 90
-- 1926 45