The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-03-08
THE EMBARRASSED BANK.
MEETING or DEP0sITORs-REP0R or
THE COMMITTEE.

THE COMMITTEE.
Between two and three thousand Of tho dc
positors of the New Orleans Savings institution
assembled in meeting last night at Grunewat
Hall to receive the report Of the com mittee az
pointed a week previous to visit the directors D
the bank and endeavor to devise some plan 70
the relief OF the bank and the protection OF th
depositora.
DR.. A. O. Holt presided After the openin.
preliminariee Mr.. Carleton Hunt. one of tn,
committee. read the following report:
Report.
The committee appointed by the depoeitort
of the New Orleans Savings Institution, MT {
meeting held over Hawkins saloon. on Mon
day, March 3. instant. have the honor to report
Thgt the morning after their appointment thu
committee proceeded to organize, and having
promptly conveyed 70 y. Urauhart. ESQ.
President Of the New Orleans Savings Institr.
were ut II o'clock OF the same day admitted tc
one
OF the nature Of the business intrusted to them
according to the terms of the resolution under
which they were appointed. Mr.. Urauhart
and on the part Of the direction to furnish the
fullest information involved. He added how.
ever. that his clerical force, small az It fs, had
been engrosEed to exhaustion by the run atilI
going on against the bank. The books of the
bank were. be said. freely opened to inspec-
ton, but more time would be requir.d to com
demand
Accordingly another appointment was made
Tor Thursday March 7. instant. with the COM
mittee. when, besides Mr.. Urquhart, they had
the honor, to meet Meesrs Carl Kohn. I'D A.
Palfrey. Thomas A. Adams. Samuel Jamlson
present e@ T ne fIs Bssne TR s
and Henry y. Miller, ESD, of counsel fer the
hank. and Mr.: John B. Lafitte treasurer OF the
University OF louisiana. and representing.
with Mr.. VIM. IL Seymour On mamber of tina
COMMITTEES. vice Ed. Toby. declinedl, the interest
OF the university "a dep sitor.
President Urauhart. having called the meet
Ing to order. proceeded to lay before It the fol-
lowing questions. which the committee had
considered i their duty to PROFOUND. 10 writing,
TO the questions. as follows:
QUESTIONS.
1. Give a list OF officers and trustees
2. Give detailed list of real estate ownei by
.. Give detailed list Of real estate owned BY
bank five yeats and over not donations.
4 Give detailed list OF mortgages held by
bank. win dates. drawers and description Of
property
B. Give detailed list of bills receivable IN
secured with dates drawers. indorsers. etc
dates, etc.
-. Give detailed list of investments in United
States securities.
s. Give detailed list of Investments In State
securities.
.. Give detailed list Of investments In city
securities.
TO- Give detailed list OF Investments In banks
of city.
H. Give detailed list OF investments in In
suranee and other stocks.
10. Give the exact number Of deposItors and
aggregate amount of deposits at present time.
10. Give the date that payments materially ex-
ceeded receipts since January 81, 1879, and how
much deposit account has since been reduced
Ia How many accounts have been closed
since above date. and give list Of names.
10. Az the expenses OF this committee for
rent. gas, ADVERTISING. etc. have been incurred
by order and for the interest OF depositors and
the bank. can the same be paid by the lnk out
OF Its contingent fundisay about S502
ANSWERS.
Answer No. I'D. Uruuhart president; Chas.
Kishaw, treasurer: A. Delaup, general book
keeper and receiving teller: +. Gambia. paying
teller, +. Delaup. individual bookkeeper: A.
Answer No. . See list of property
Answer No. 3-Banking- house. 10 Dauphine
street. Customhouse, near Levee
Answer No. 4-Refer to statement
Answer No. 5-Refer to statement
Answer No. 6-Reler TO statement
Answer No. 7-sold out since the run on the
Answer No. $4,000 State per cent bonds.
Answer No. a-None.
Answer No 10-None.
Answer No. I1-None
Answer No. 12-See statement
Answer No. 13-February (gap Of ten days
&C., a. 2s March i, s. s. O. and reduced by $557 900.
Answer No. 1861 books closed.
Answer No. 15- Yes.
Balance that evening due depositors, sl,493-
s7s 80.
STATEMENT
OF the New Orleans Savings Institution at the |
close or business on the twenty nth day |
OF February, 1879.
Resources
United States bonds $50 900 ....... st5i. 71o 60
81. Charles Hotel Company first
mortgage bonds. 500 600. ........ 2s,9l9 90
New Orleans, Jackson and Great
Northern Railroad Company first
mortgage bonds, Si5. 000.,....... 46 $50 90 |
Odd Fellows Hall Association first
mortgage bonds. $4,000 -......... 1000 90
Louisiana State per cent bonds.
$4,000. Observation-Disclosures. 5000 90
Real estate--- oil. 1922 81 |
Loans on mortgage maturing with
in 90 days. 80. 1888 SIT %
Loans on mortgage maturing after
=. 90 DAYS .:.:..........,......... 35O.719 80
Other loans and discounts maturing
within 80 days 5093o 90
Other loans and discounts maturing
after 90 days .....-...--.,......... 1o,sl1 rs
Loans on call and matured obliga-
tons exigble on demand -. sss. 7s1 As
Expense account l2,064 70 |
Due by SundrteS. OBSERVATION-DISCLOSURES. AS 90 |
Cash on hand. OBSERVATION-DISCLOSURES. 60.974 81 |
Total. 1884 ITO 80
Liabilities.
Due depositors OBSERVATION-DISCLOSURES. 81 ,B94 1888 63
Due banks and bankers. ............. 100 900 4s
Due sundries ACKNOWLEDGEMENTS. s,516 46 |
Due profit and loss. OBSERVATION-DISCLOSURES. 32.173 Sc |
Total NEUTRALITY-SUSPICIOUS.. 81 1884, 776 80
Number of accounts opened ........ IS 260 |
Number of accounts closed .......... 22450
Remaining open ............-.... $50 |
We. the undersigned trustees. do solemnly |
swear that the above statement Is correct to the |
best of our knowledge and belief.
DAVID URQUHART. President.
G. KOHN,
THOS. A. ADAMS.
Published In accordance with act No. 81 of |
1877. Il. A. BURKE. State Treasurer.
The following answers having been made, |
he committee proceeded to PROFOUND the fol- |
lowing additional questions:
l. Do any officers or trustees of the bank ap- |
pear as debtors III SO. give details Of same.
TO this question the bank answers No: none |
whatever.
.. Has any contingent fund under section 9 Of
the charter been created2 If So to what extent. |
To this the bank answers: There Is no such
fund.
8. Have any bills receivable. etc, been settled
of offset OF deposits in bank since January 81,
1910? If so, give details.
To this question the answer of the bank is:
There have been no such offsets, and. by advice !
OF counsel, Thos. L. Bayne and Henry @. Miller. |