The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-10-28
rnr oprrvr4n striNGs BiNK.
What Hopes the DsposIiors may Entertain of
Receiving over FIny Per Cent

Several inquiries have lately been adj
dressed to THE SUN as to VIII, the three trustees
who are acting AS receivers Of the Oriental Saw
ings Bank 4SU Broadway do not pay the depo~i-
tors. This savings bank WIS PIT in the hands
" the Attorney General VI the State Dec Il
1877. 10 Toe closed NJ. The deficiency reported
10y state Superintendent Lamb in the preceding
October was only s3,i79.i2 aud this deficiency
only resulted from reducing the banks yalua-
ton Of the fixtures and furniture that amount
Otherwise the Examiner. so the trustees avor
substantially adopted the figures Of tn" bank
secretary. The trustees made the deficiency
good.
Nevertheless, on Dec. 4 i was thought beet
steady loss II ieposliors
Instead Of having n receiver appointed the
Court accepted The oYer OF ,hree II the trustees
~ wind MP tho affairs Of thu bank As oconomi-
caily as possible andwthout char, ng referees
iros These three gentlemen are: Robert
u. Tucker. connected with Mr.. Hoe in bus nrsr
dSa Mr sn aH E? Mor BTafT T S
Of the bank said that 1t would pay its doposilors
dollar for dollar In time. and the closing OF the
bank caused them comparatively little anxiety.
II was thought TO be an honorable except On
among tho savings banks .collapscs that had
been occurring IN such rapid sueco ssion.
Ia the report made July /. 1916. tn total Lin
hNlties Were made W of two items. $22S. 3il. II
due depositors and 800 duo for unpaid tnAcs.
this time reported nj 81 s91 -. Wnrn the bank
was closed. IN December. the amount duo de-
few months dividend Of twenty per cent
was declared. OF the nuu tiolosit0rs only
about 5000 have drawn this twenty per cen,
The reason alleged IL that th' amounts on de-
posit in the case Of the other 1 900 depus tors
are So small TINT twonU per cept u them
are less than 81 the a. pusltors having lust
enough money in bank to enable them to keep
Their books.
A lerostor said yesterday that he didn't see
whore the money was all gonr %.
Thev told us he said, that We would have
Il MI I'm six months, hut six months was NJ last
June. and all W. have received is our ~ Der
cent When We 20 e. the Committee they Tell u
mat II We want omr money We must wait unit!
real estate rises. We can gct ANY satisfaction.
IN" nn.y one Ol ihe committee of three who
WINS in the CITY Yesterday was Mr. Hallork. In
reference Ia the complaints he said:
want you 10 noticetllat never said the de
positors would lee paid in full or nearly in mll.
knew that the money was not In tn bank !
u they wanted their money they must wait un-
Il reel estat" should rise, What said was
unsuitable. hone there Will be- a change for
the better in the spring. We are Trying 10 sell
no W. sofa some IN CLINTON street lor silult
ms, with other money W. hnvo IN bank. vii!
enable ~ 10 DECLARE m additional dividend Of
10 per cont - THIS Will he done ms sqon as Mr.,
stephen D. Tucker returns from EUROPE md
ne is gYPeclssd soon. this very troprrty which
we s.ii Tor o. Zoo s.oost ti,r man liom whom We
What do you SUPPOSE Mr. Hallock was
the banks Affairs should he settled NJ now p
o. II wa should fore" tn" property un the mar.
would get more than 81 per cent. in all that Ii.
80 per cont, IN nd litlon a. tho dividend already
declared. Most 81 the properly is real estate.
and most II this real cht'tA lies in BROOKLYN,
Any ono who knows anYtnlng about BROOKLYN
real estate Will understand how hard II is 10 sell
property over there.
7! Ito Question. how the trustees and tho
Bank Examiner cnmo 10 make So great mis-
take IN the value OF this real estate in making
ny their reports. he said that tho value OF tho
reH estate 10 the bank. II It had bcen able to 20
on, and thus take advantage Of good oppor,uni-
same property II forced upon tho market was
another. Mr. liallock said h. had expectations
ol seeing real estate improve in price neIt
spring.