, 1879-01-25


OapBssuuRa, N. Y, Jan. 22..-Judson's Bank,
ono Of the oldcst banking institutions In th,s sec-
tlon, c!osrd its doors here to-day. Thia created
great excitement, from tho fact that John ..
Judsou, the proprietor, wns supposed to be verv
wealthy. The bank was rated Al, and 10 good
was tho credit Of the bank that mauy would not
beleve II had suspended I'LL they vent and saw
tic doors closed and read tho notice placed
ss's SOU icd s leas,ns t. 5on % D ii. j. bto: ssh
er, oyur sSN,UD. 1'Icy were both In
The bank toEethcr. at that time. Since the
death Of Davld Q. J4dson, John D. Judson, tho
present proprietor, haa nud tull control OF tho
bank, which las always been regarded as sound
.tlItl very PROSPECTUS. Besides the Judaon bauk
there Is ouly one other bank In Ogdensburk, the
l3ank Of oVticnsb'lrg, which ~ state institu-
tion, whicl. does not und hus not for o Ioug time
paitl interest Til ucp,sts. willie tic .Iudson
liank has bccn paving and I per cont, The
result was that tlr ludann bank received laERa
amount of tnot,oy nu deposit. a,lta WAS aort 1T
savings bark Tor the city, and nearly all ciazens
win had sarc VI, tllclr earnings had deposited
them there. DcaIdus this class there are many
w!uova, orphans, and pconle out OF business
who i'ad their 1s,ouey there. A large number
of merchants md business men aro also caught,
aonle With maturing obligations.
The causcs for the iallurc arc many. Ono
reason Is that tho bank catlo into possession Of
which has largely dcprcetatel, n,,y u not worth
u cents oil tile dollar that It cost them. Con-
siderable good papcr, too, t1as PROVEN yaluetcss.
Another great catise Of deficit has been that tho
deposits. Something over 100000 bus bssn
driving interest at from to Z per cent for
ecycral years, md during thesc times It 10 Of
course !mpossiblc to meet 1t. II Ia believed
par. But little IL positively known outaitls;
II Is believed that there haa been no cElms
inal mismnnage,nent, but that the general
depreciation, bud debts. aud some foosauess
T.1iw t.na lat
Tho bottom facts eal,uot be arrived al tonight.
i Is impossible TO set an Interview Nth elttsr
slr. J udson ur Il. N. Merriam, Ills csshier, They
sre busy 'nakinE ~ ,i at,.iknment, which tnsy aty
Assienees aro to be E. N. Merriam mud !. l.
seymour. Mr. Mcrrfa1n has boon CasIier Of the
bank only two mouths. lle was appointed to
III the vacancy caused BY tic death of William
art Il Co., III their wholesale sure on broadway.
6tewart Wiled hiHl *5,ONL tulsou had great
condolences In Ar1uatrotg's financial abilities,
nn.. allowed HIN to run tho business OF the
appointed, be. tn oycsliaulsng the business done
by Artnstfong, found many bad securltles.
About tho lst Ut January this fact reached
the ears Of few persona inserrstca tu Tho bank,
delay to draw out What funtla they hau deposits
I'd there. elnco that time over $l0, GU hayo
been drawn out. Tle dra!n On the bauk was
ptcatly, but mora thai 1t could stat, alll late
yesterday attcrnuun MuncY Un cheuks aud ccr
t.tiratca was refused. 1t Il e4tilnated that tbs
number vi sufferers wIIl amount to upward Ut
fifteen hunlrct untl q Is said. on thu brst su-
tAor!ty s!sai eaI bs on.atlsed, that the aInonnt
due dopostturs 10 iron, sa5O,uO0 to si00, ,0U. The
pssrts of tin bank arc plated At frunl 3$5 tk0 to
Sa5o, ,tXN. How mitch ot this II good no one il
VI present 4bto to tell.
COLLECTORS, who Deposited In tuis bank all os tle
tuula belong to tho Stats aud county which
they hayo thus far collected. Tho atuounts dne