The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-12-21
BANKING TROUBLES.
The Union Dime Board CT
Trustees Reorganized.
NATIONAL TRUST AFFAIRS
A Statement OF Their Condition To Be
Speedily Furnished.

Speedily Furnished.
mo following statement relative TO the reoreaniza-
lion OF tho Union Dime Savings Institution was FUR
sished yesterday afternoon from the once OF Bank
Superintendent H. /. Lamb
Thu Rank Supe r,ntcndcnt informed the trustees OF
the Union Dime Savings Institution on the 2isi o. NO.
vember that nc deemed Tho reorganization o. thc
Board necessary restore confidence IN the DO
posltors ana in the mind Of the pubic inat
lie feared tho report OF the sovency OIL tue institution
would not alone be sufficient put The bank in its old
position In respect 10 credit THIS suggestion
Eoard. and q committee appointed 10
confer with the superintendent upon the
suhicct Alter consultation Mr. Lamb adhered
70 us views and proposed that commission should
he formed OF trustees OF tho savings bank and
the and several oniccrs OF savings banks 10
she civ dis proposal accepted, and tho SUPER
tntepdent named tho gentlemen to compose sncn COM
mission Alter discussion this conference agreed tnas
the interests the nstt ution would be promoted by
An adjourned meeting OF tho Board Of Trustees was
then helu and the following resolution was adoptcd-
RESOLUTION oYYERED Dy Mr.. BUTCHER AND SECONDED
YLoYD JONES'
Rssoved That each ofhe present Board tender
ON whsG ss" be written the names o. twelve members
Tao ~ n n"d III said
unopened in the hands Of the supentenhent who Is re-
Tho trustees then present signed tho following copy
70 rnx BOARD or TRUSTEES THE UNION DINE SAVINGS
rns signed desiring the .uccess aud pros
psriy this institution. hereby each and for himself Ton
de resignation trustee and pledges himself 70 DO
n. J. Hains. William 5, whislocs Malsby Q. Lane. z.
Duiehsr Aaron Close wii.ism T. hsmmnrwsy joseph svi
Am o w.ss s'an sS SI Sislo Green ssy
tas. Fs. sm
sorhy, Frederick Jacoeson >, MseaonoSgh MIN. w
bonman.
The Bank superintendent, acting under tho dlrec-
t,on and request contained IN The above resolution,
named Twelve trustees TO roman and complete the
organization OF the Board Delay In action was CON-
pslod the provisions Of law which declare tDat W.
canoes shall be filled regular meeting OF the Board
OF Trustees Al that meeting, on Wednesday, the
designations many trustees we're accepted ana lew
gentlemen were chosen 10 MI the vacancies An al
iourncd meeting Will % held next week. when other
gentlemen, widely and iavoraby known Tor business
car acty and iathiulncss TO all duties which they
sumo viii be chosen us trustees. There IS harmony
cf spirit among the trustees ana decided purpose 10
reduce exuenscs TO the lowest figure and
put I'LL assets OF the institution IN shape 10
produce income as carly as possible.
The following gentlemen wero chosen new trus-
tecs:-H. 4. Thurber, Of II. K +. b. Thurber r.
Co. Joseph F. Knapp, Of Major h Knapp; John W.
Bri,ton, OF Brewster L. Co. Thomas /. James, Post
master; X. N. Hazard OF Caswell. Hazard l. Co.;
william A. Cole, President OF the Produce Exchange.
Tho following trustees arc retained Richard N.
Nichols, retired merchant; Edward T.. Poor OF Denny,
Poor Co. Alfred B. Darling, OF Darling, Griswod
Co., Fifth Avenue Hotel; Aaron Close. NOR
chant, Fulton Greenwich street; John Creighton
merchant No. l73 Sixth avenue; SiIas B. butcher, Ap
praiser's ONCE; William s. Fogg merchant No. III
Chatham street; william I. Hemmenway, retired mer-
chant; James Beverage, retired merchant; Frcder-
rex jacobson, OF Swift, Sackelt Co, No. SO Worth
strect: Clinton Z. Brush, merchant, No. 81 Walker
street; J. II. Johnston, Jeweler. No. $50 Bowery;
William q. Ross merchant. No. "a Walker street.
The income Tor the six months ending December 81,
less expenses, is $205 200; interest due depost0rs
about sl6 O00 surplus Income from July 10 January
Several friends n sne bank say that there rs reason
10 be thankful that il stands on the very sonndeH
basis, else II would been In the hands Of
the .'baLk wreckers," who have already possessed
themselves OF several corporations which might have
been saved TO the public These parties point
quasi officials are nominated 10 rcceivcrshps created
by their own exertions, without giving the share
holders trustees chance OF consulting their
mon interests to who should DO receiver. II Is
shought in many influential quarters that the a..en-
ton of Governor Robinson should be promptly called
10 this condition Of affairs.
SAVINGS
Mr.. Edward L. Paris, receiver Of the Clinton Saw
irgs Bank makes the following siatcmcnt:-Hc took
possession on the 10Th OF last August and received
assets TO the nominal amount OF $64, $50 H. or this
amount but $24l SO was IN cash, the rest
being in rspl estate; III shares railroad stock,
which was last sold for thirty-nve cents on the
dollar; any shares iu tho National Trust Com.
pany and personal notes OF the trustees
Mr.. Paris has realized Of tho assets tho Of
$50 OCT So and Is ready to declare dividend OF
twenty five per cent. The claims OF the !, 25Z de-
postors who have credits against the defunct bank
amount 10 $6S,972 49, The receiver Is spprehcnsive
that tho assets remaining with HIM will produce but
httle money from which to declare an additional diyi.
dend.
THE NATIONAL TRUST COMPANY.
Mr. Best II Iaboring diligently In preparing state
mcnt OF the affairs OF the National Trust Company,
and hopes TO have II finished this week. Meantime
he ssid that the officers OF the company had disposed
nf a m
inaton which no was making before he entered as re.
ccivcr. Mr. Best also acknowledged that men,
Der OF tho Board OF Trustees fup TO four
months sgo) Withdrew . deposit OF $4,000 lust
before the run began. Nr. Bcst, however, would
not give that gontloman's name. II Is claimed
that the unsound state Of tho company was
shown last year by examining committee OF the
Executive Committee. This can hardly be true Tor IL
appears that December 4, 1876 Examiners George
W. Reid and Henry L. Lamb gavo the institution
the credit OF having $50, 062 "a surplus II
+ appears that IN contrnvention OF the company's
charter foroidding loans to the trustees tho WAIKIKI
from Robert H. Rerdcll; the ST. 900 WATERFOWL prop
triy, mortgage Tor $50 900 mill at Silver Lake
n j., and $50 900 stock OF tho Davis Sewing Machine
Company wero all accepted from trustees, and nave
RON on The books Tor more than three years.
BANK NOTES.
Mr.. Richard NJ. Bent, receiver OF the New Amster
dam savings Bank, OF this city, has, In tho case Of
the people against that hank. received an order o.
Court TO sell at auction tho promises at tho corner Of
the Bowcry and Rivington street, together with the
personal property contained therein, and also to pay