, 1877-09-21
eamueI o. Ward Appointed Re.
ceiver OF Sydney Myers
Rag.BabY.
The Retired Manager Declines to
Giyo ANY Figures About
tlie Concern,
Forty Thousand Dollars the Connect
ing Link Between Spencer
and Myors.
4 Talk with Mr.. IiaInes Regarding
Affairs at tho Fidelity.
His Reasons for the Policy
which He Has Been
Pursuing,

HIS NEASO1AS III t440 04lGy
which He Has Been
Pursuing,
MYERS, BANK.
eANu1L u. WARD APPOINTED RECEIVER.
Al anticipated, application vas made To Judge
williams yesterday morning for the nppoint-
neut Of a Rcccircs for tho Mcrcl,ailts', Farmers
4 Mechanics Savings Bank, md, rs WIS stated
would be the case In Thursdays TRIBUNE, tha
officers Of thu Institution inndc no objection to
III winding up. Tie bill was filed by Mr. .. n.
s.uu.te,s, who represents quito n number Of the
depotltors, although only three arc made COM
plainanls. The Hon. Thomas Hoyne, Mr. o. II.
Horton, and Mr.. Thomas A. Moran we're also
present a. the Representatives. ut other credit
fs, For the bank, Mr.. Van gChaack appeared,
tcrsice being waivetl for the purpose Of expcdit-
Log matters.
The BIT, sets forth that r. j. Colburn, Franz
Brielenbacb, and Mary Curric wcrc dcpositors
iu The bank: that the officers were bound to cx-
ercisc due caro- and diligence In the safe keep
inR and return OF such deposits as should bo
made, and to prevent any wnete or mtsnpplica-
ton Of them. By virtuu Of the bylaw rcgulat-
lnz the payment ofdcpostts, eomplainants had tho
right to withdraw Of their deposits 10 t,cr cent
Without nny notice, not exceeding 20 per cent
upon giving thirty days notice, and any amount
exceeding 20 per cent upon giving sixty days
police. This bylaw Was in forco at tho time
complalnants ma,lo their dcpostA. On the Goth
Of July, Coburn, who had 22239 IN the bank ,Gavc
tic s1ty.day notice. On tho 10Th inst. he went
to the bank, prescnted his book, and demanded
tic amount due, the sixty days having expired,
and be being Justly entitled to tue full pavn'eut
OF his account. But tue bank refused to pay
The said an1ount' OF any amount. Mary Currte,
who lad T. lol ii. aao gave the notice required,
aid payment Of TIC amounts due them was
likewise refused. The day these demands were
made "wednesday the officers nnd Directors uf
tho bank wholly discontinued buaincsa and
closed up the bank. Tho complainants arc In
formed md believe, and Charge TIC truth to be,
that for long time before TUG closing tho al
fairs OF the Institution # lla! been 80 rnissna1-
insolvcnt:, that thereby tho officers, Directors,
and stockholders made themselves personally
lIabc TO the drpositoss fur ths sums respect.
iscly due them, md ought to he held To ragsd
their duty II is further charged, upon in.orma-
tIou and belief, TINT the bnnk ID utterly insoly-
cnt, that It ID largely !udcbtcd to dcppstore,
that It aa not the necessary easft nsscts to con-
tinue business, and that unless Receiver TO
ther
WASTED AND MIsAPPLtKD
10 tho fErcparablc Injury OF the creditors.
A. A. soon ~ the Court op,ctn1s1, a,,
Of tho bill and the presence Of tue attorney for
the other side.
Judge Williams QaughingFIs It necessary
that nll the nuti0ua for Receiver In &hts county
should conc before mel
Mr.. saun!!ers-sslall road 1T --...
Judge Will!ame--l hayc no right to refuse to
near gases That arc brought before me. Of
s9ursc gu, st.tS slalI hear the application. ro NJ.
M! -, :, :.
Mr. Van bthnaek.-l have no objection to tho
appointment Of llecelscr. think It Is clnl-
ncntly proper, - tho bank is now closed, aud
sofne e,oaa o1's ;vf5ian sHaia ta1s S,,cE charge r
t'9t', son you agree upon i1eerlvert
Mr. HOyne-Wr hnye agreed upon Mr. Samuel
y. Ward, who IL nlrcady Rcceiycr Of tho Rcpub-
!ls II: L,ae'-a man to whom nobudy van. Object.
time Comptroller. We PROPOSE bis nau,c.
JauEc WillialasEls there any. objection on
Aas rast o. ANYBODY TO Mf. War1f
Alr. SauhleEs-He 10 satisfactory 10 tho cou,-
plq!uanis;;v % ;v,,.
Judge Williams--1 know him personally, and
le Is nan OF Iucosruptlb]e integrity.
Mr. Moran-lt oer'rs to me- There should be
solns mcaus Ut getting MI expression Of tlls de-
s'lSrs s en- pe,Gso M nsee'yer u appointed. DO
ltscems to nlc, however, proper that ths pcr.
',, svns who arc lasgely tnsersstc-l do not know
slr. Saundcrs-It is nlc,l By three .of thu
ercdttors, but there are great number back who
'Fs ST. 4ot 4as Sasa 7. pssts:. en5. n n. ,h,, ,h, ,,
to b. consulted. '''' 'A' lucy ought
Nj Mf. HoyneIWo could not suggest a man who
woula BY nnobt.etionablc to everybody, Thu
a9esa.ot, Is whet4er thn ono mchtIoned ii man
ol character, OF capacity, of pcrfext integrity,
and AZ well known In the city, believe Mr.
VIZ ~ T. M,,., ,,u. w., o,>,...
AZ; aE.. Ma5anEl ,.1;, have no objection 70 him.
Was VERY clear il, Tic crccutinn ~ ft,c ,ff-. ~
nia high office. thlnK llc could hardly Ic oh
}rctiolallc tp any one. | ar, plwuys tlfsposcd
" consult thu wishes of tils parties 50 fur "a 1
a.; tut T. strkcs n's that tfls Is case where
tisere il nu objection to Mr, Ward, / should
=, JUSTIFIED In APPOINTING HIN.