The New York herald., 1878-12-19
BROKEN SAVINGS BANKS.

THE SECURITY" AND MARKET"
INFORMATION FOR DEPosIToRs.
Inquiry having recently been made in the Com
plant Column OF the HERALD regarding the chances
of the depostors of the broken Security and Market
Savings banks obtaining additional dividend.
effort has been made to give these unfortunatcs
information that may in degree be satisfactory.
To this end the respective receivers called upon
yesterday and found willing make brief statements
which herewith appended:-
SECURITY SAVINGS BANK.
Mr. William NJ Banks the receiver of the Security
Savings Bank, glad to give any information pos
sible. The insinuation that he could not be found
was looked upon malicious the Directory, he
said contains his address receiver. Three divi-
dends have been paid. these being of twenty fave.
twenty and twelve and half per cent. making in
all ffty-seven and half per cent. The last was
ordered by the Court in May, 1877 and since then
constant effort had been made to realize upon the
small amount Of real estate remaining i'll his hands.
The depressed condition OF the market prevented u
satisfactory sale until fortnight since when. think
ing the opportunity had arrived. everything dis
posed Of at public auction. The terms or the sale
ten per cent deposit at the time and the balance
within thirty days. Shortly after the Ist of next
month the receivers accounts will be presented to
the Court n referee APPOINTED To examine them and
then the final dividend will be paid. This will be
small no doubt but the total amount that will have
been received by the deposors is considered by Mr..
which the affairs of the bank found is remenl.
bered Mr. Banks stated that he is willing at all
times to give deposors any information i'll his pos
session.
MARKET
Mr.. John H. Platt. the receiver of the Market Saw
ings Bank. could not hold out any hopes of ever
azing any thing upon the few assets III his custody,
The irst receiver Mr. Frank Work. paid the deposit
ors dividends amounting to thirty per cent. and
upon his death Mr. Platt appointed his success
sor Only odds and ends and those all tied up by :i
cation, were turned over to him. DO what he could
there obstacles met at every STEP ana what he
expected might realize considerable sum has
dwindled into almost nothing. farm near Long
Branch said to have been purchased by the secretary
OF the bank and paid tor with its funds, among
the assets. II thought to be worth 100000 or
$4,000, bur mort,agcd for 100000. When Mr..
plat desired to sell il he met with an njunc.
ton obtained by Jcrseyman. said to have
been partner with the secretary in schemes of spec
ulation. The Jcrscyinau swore the farm pur-
chased with his money. and not chat belonging to the
bank and in this blocked the efforts of Mr..
Plat dispose Of il for the benefit OF the depostors.
For five years he unable to collect tine rent even,
aud when at last the il junction set aside il
found the farm would not bring the amount of tho
mortgage. There IL also house in Jersey city. but
the has been unable to find purchaser for
it, though he has made halt dozen attempts to do
hy placing it in the hands OF auctioneers. And
am afraid concluded Mr.. Pratt. there will be bnt
little nothing realized for the dcpostors from the
asscts turned over