The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-07-16
DIVIDENDS FOR DEPOsITORs.

BROKEN SAVINGS BANKS YIELDING LITTLE
OF WHAT THEY TOOK IN-THE NEW AM
SHERIDAN, BOND STREET AND sIxpENNY.
Tho receiver OF tho New Amsterdam Savings Bank
yesterday began paying the third and nnai dividend
OF twelve per TO tho deposors OF that bankrupt
ins,itution. The total dividend paid amounts to
seventy seven per cont When Tho bank suspended
In September 1876, had $5l0,0 900 in deposits belong
ing % 900 persons Other deiunct savings inst,tu
tous located up town are about to pay dividends TO
dcpositors.
The Boni Street Savings Bank, corner Of Bond
street ana Bowery, will be ready in low days 70 dis
tribute third dividend, amounting TO five per
The bank went'into hands OF a receiver the Atm
Of October, 1876 ard has, since that timc, paid two
dvdendsono Of nlty-dvc per cent and The second OF
ten per Receiver Paine expects 10 pay closing
dividend Of five, or possibly Of ten per cent. when
the bank building and real estate oil the Institution
sban DO sold. Mr.. Paine was not IN town yesterday,
and the reporter who called ask ABOUT the aar Of
tbs bank found his assistant, Mr. W. j. Osborn, on
tho promises That gentleman stated that notice
would be gwen through tho press when everything Is
In readiness 70 pay the third dividend. 1t will be
very soon When the closing payment will be mado
Mr.. Osborn could conjecture II was ''problsmat-
lea" he said. ''The PLAN" he added, S Of course,
70 convert the fast 1t is for tho Interests
OF the dcpositors IL should DO done sooa part of
siderable difficulty IN realizing upon them Many OF
the towns repudiatcd, ana We were Obliged 10 CON-
m.nee suit against them. But Tor these delays
should have Dcen ready TO pay our thlrd dividend
long ago."
REALIZING THE ASSETS.
'Thc government, city ana town bonds, he said.
''were disposed OF ny the receiver excusve OF those
having deiauited IN iuteres without material loss 70
tn. bank wailc a low oi Tue bonds aud mortgages
and hall dozen picccs OF real estate the losses viii
very large, and ~ ~ 10 the depreciation In inns
Eiud OF assets that tho msiortuncs oil tho bank
m a,pIy 10 be attributed" Mr. Osborn stated that 400
OF thosc no called the rst d,vsdcna have never
put ia appearance since the failure, anu OCCASION
ally up who has never heard VI The roub es
oil tho tank at all. THIS statement Will not sectn SO
incredible when II Is remembered that tue institution
formerly bore another bc'ng called The Atlantic
SAVINGS Bank. In reply 70 question as TO why tue
AFFAIRS OF the bank should not be ciosed ~ once, Mr.
Osborn said IT was tho wishes OF the depos,tors,
so far az tho receiver could learn them, that
the bank building AMI otncr property oil Tho nsiu.
tion should bo held until more favorable market
should offer Tor IT, SO II was with the town bonds IL
they had been put on the market year ago thcy
would have brought much less money tban viii prob
avly be realized through those VINO Issued tbem
deposits would ali pad TO depositos, anu prob
ably tho apount would reach eighty por cent.
There are 3,3S9 depostors.
Another dcfunct svisgs bank---the Sixpenny-w
pay a dividend aDout tho LIST oil August II will
amount TO nfly per What viii eventually DO re-
assd the receiver Is unable to state definitely, but "
will PROBABLY 10 nj least seventy I'VE per cent
OF The deposit. OF the SO 900 depostors tue bank
% 900 had less than 50 each on their books OuIy
10000 the entire number OF deposors have naudcd
In thcr books TO have them verified IN order To re-
ccive the dividend.