The New York herald., 1877-10-13
LONG ISLAND SAVINGS BANK
Complete and Detailed Statement of Its
Present Condition.
INTERESTING TO oEPoslToRs

Tho following letter, addressed 70 Ms Mortimer O.
Ogden, recover Of the Long Island Savings Bank BY
the accountant appointed 10 Investigate the affairs Of
that institution, will be read with interest by the
thousands OF dopositors anxious to known III roL
status #t4
MORTIMER G. OGDEN, Esq. Receiver Long Island
savings Bank
DS.s siR--in compliance with your request nave
made thorough examination OF the books OF the
above bank rom the commencement OF its business
10 the 14th of september last when It's AFFAIRS passed.
your hands and herewith hand you the result Of
my invcstigation The drst ana most Important
count. OF which much has been said-yix. the real
estate Accountants semi annually charged with inter-
est al the per cent per annum together
with ali taxes and various expenditures appcrtainins
IT, and credit for all the rents collected
At the OF each SIX months, Whatever deficiency
there appeared that period OF time. was charged
profit and loss This rendered the account as appar.
entity increased from It's actual cost, but upon caro-
iu analysis would be found that Its actual cost was
always correctly stated ~ ths books IN .ns
entries in order that zach and every account shall APP
pear IN It's integrity.
count showing It's actual cost ON June 10, 1871,
Sl05,2 244 So
count from tho organization 10 June 80 1877, show
ing nominal dehcicncy at that date OF S39S ~,
vaue OF tho bonds on that date Of s3 2d5 and
renis accrued IRON the bank building OF So VaS IL
Deductng The above denccfcy, s394 7S. leaves sur.
Schedule is a statement OF The assets and iabilL
itics on June 80, 1877 showing surplus AZ above
stated OF ST. S5s gS Ihis proves tho entire oorrect-
ness OF the profit ana loss account.
Schedule is a statement OF the assets and labil-
ties o. September H. 1877. showing surplus OF
$l5Sl5 90 THIS surplus ID apparently larger IN pro-
portion, as do not charge tho interest due 20 deposit
tors siLce June 30 unacr the circumstances thcro
will be none TO pay. II simply shows the condition
oil the bank that dalo Ia tho hands oil Inc reoecr
The result o this nation sets at rest any queS
ton as TO whether the trustees have been declaring
unearned dividends. The Increased vauo oil bonds
made up from tho figures OF tho bank examiner on
August % last rho various schedules numbered
from 10 conain tho details OF the aggregate items
referred TO in the schedules A, Is. and u. Yours,
B. A. MCDONALD, Accountant Expert
SCHEDULE A.
Real Estate Account, Correcied and Showing as Trvs
Cost June 80, 1877.
juno 80, 1s77-Tolai debit OF this account -. =.
10 date upon tho books OF me bank. $Ioo6oo %
Add the following amounts, whioh now
appear the credit oil this account,
which should have bcch In profit and
loss account Total rents conscted, ~
per schedule No. on page ol THIS
abstract. aiiioA ~
Total amounts charged to pront and loss
and credited 10 THIS account, as per
schedule No. ON page oi TINS ab- -. -
stract. 9S,so0 o.
Total sses, ,ssl IS
Deduct tho following amounts charged IN
aD0ve account 1850
Amount charged and placed 70 Il
credit profit and loss, for tu- aIt
creased vaIuo Us per schedule
NJ. /, page l. OF this aostract $33s lSI I##
Amount charged ana placed to
credit interest, Us per scnod-
ule No. 2, page !, OF this
Amount charged this account
for taxes, AZ per schedule
No 3. page 2, oil this abstract 20.bE II
Amount charged this account
ior miscellaneous items, Us
per schedule No. A. pago z OF
tnls abstract cl............... 6673 60
-- l61,787 p