The New York herald., 1877-09-18
The ClairmOnt Savings Bank Declares
To Be InSOlVent.
ASSETS AND LIABILITIES.
Bank Examiner Orvis' Views of
the Concern.
WHO IS RESPONSIBLE?

The CIairmont Savings Bank failed yesterday II Ia
true that Is a small affair compared with some OF its
predecessors but the suffering account of the fa-
ure Is nevertheless severe, and many families will be
despair when they discover that their hard earnings
are almost hopesssly lost by the managers TO whom
was ntrusted their savings. The Clarmont Savings
Bank is situated in the basement OF tho North River
Bank Building ut the corner OF Dey aud Greenwich
streetx 1t was organized in 1871 and was supposed
TO be doing u prosperous business until recently
Many dcpositors wore surprised ON repairing to tho
institution yesterday morning to find the following
notice pasted on the glass window in tho area, the
doors being locked:-
DAVID T. SWAN. Esq., Secretary Clarmont savings Bank:
direct you to % al .n
bank until further from the Banking Depart.
"'"" -'''' CHARLES EUsrIs oRvIs
Bank Examiner of the State OF New York.
When the reporter visited the institution hs
found several vol ladies and gentlemen the
doors, and of tho sterncr loud In their
demonstrations against tho officers of tho bank.
few who had legitimate business with the corpo-
ration endeavored to effect entrance into the Office,
least attract the attention of gentleman who
was pointed Mr.. Swan, tho secretary; but the
latter gentleman with degree OF GOODNESS delightful
contemplate, continued to MUNICH sandwich at his
desk stared tho indignant depositors with
unrutIlod vrage
OFFICERS OF THE BANK.
The officers of the bankrupt institution were found,
inquiry, to be as folows:-Shcrman Iroadwcll,
President; William J. Osborn and Robert G. Cornell,
Vice Presidents; Henry Parsons, Counsel; David 4.
Swan, Secretary; Robert G. Corno, r. W. Robinson,
John D. Taylor William H. woglom, John 7. Briggs,
Charles X. Wilmer, George A. Moss, John Kennel,
Halsey W. Knapp, James Pyle, William J. Osborn, J.
O. Hoy. Henry Parsons Sherman Broadwel, John
rntLen c. d. Uisosway. A. L. Sayre,
BATS DEPosIToRs.
The tempting bats held out to depositors that
they might draw against their accounts by chcck re-
ceivng their balances; that accounts were
strictly private and that they might close at any .ime
TO the dcpostors was probably found to be IN the
tables so handsomely displayed upon the walls OF the
Clarmont Savings Bank One dollar per week will &C.
In i've years $500 "a In twenty years. 974 IS
In tcn years ..... 703 IS In thirty years. 4,270 Al
Amount deposited. ST. 500 20
Accumulation OF interest. 2,72O Al
Total .s427o Al
Five dollars per week Will produce the following re-
In Ave years 81 5o1 25 In twenty years ,s74 10
In ten ycars 351S SO In thirty years. .2l,352 II
Amount deposited ........... ........"$a,eg ,ego w
Total. s2l, 1852 II
"a cents per day.. $lV Slou SssW
| 5L cents Der day. 70 260 $500
IL cents per day. AZ $40 1l,t0O
| o7L cents Der day 100 13OO 20 600
| IS cents per day :. 200 1900 $4,000
| 10 cents Der day 4Ov $500 10000
| l37 cents per day 500 5000 145 900
| Interest, SIX per cent per annum; commences on
| the 1st Of January. April, July and October. and s
compounded semi-annuay.
THE LAST REPORT.
Tho last report, published in the HERALD August l6,
official from Albany, IL as iOlows:--
nonds and mortgages Observation-Disclosures. $40 oe0 90
Stock Investments cost-Unted States. $3.50 10
Loans on stocks. % $50 10
Cash IN other banks Gc...............,. 81 445 20
Cash ON hand. ......................... 3U2U ~
Loan on 80 405, gold certificates ....... 1900 %
Loan dep0stors pass books ($20 376 SOY 14330 W
Interest due and accrued. .............. 2.l56 OF
Total. .$136, 571 0a
| Liabilities.
Due depositors. ....................... 1897 "a
! Surplus, Observation-Disclosures. S2S23 "a