Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-06-14
The Freedman's Savings Hank.
PROGRESS OF CONTROLLER KNOX IN LIQUIpATING
ITS AFFAIRS.

PR0GRESS OF CONTROLLER KNOX IN LIQUIDATING
ITS AFFAIRS.
The act OF February q, 1SS1, placed the
affairs OF the FTeedman's bank In the hands O
the controller OF the currency. who was ap-
pointed a commissioner for the purpose OF clos
ing up It's affairs.
The reporter OF TIE STAR called upon Con-
troiier Knox this morning TO ascertain what
progress he Is making. The controller filed
bis tond OF $40, COO On March 9TH and entered
upon his duties. Since that date he has
sold real estate for cash amounting 70 $40 733 Is
and the total receipts from all sources have been
$50, 3G4 20, S3l,050 OF which WIS Invested In 6
pr cent bonds, which have been continued into
81 per cents. The readers OF THs STAR have
noticed an advertisement In It's columns
for some weeks past calling upon all
three dividends which have been declared TO
present their books aud receive such dividends
on or before August 81, ISL, or such claims
will te thereafter barred. Thrte Dividends
have been paid since the failure OF the bank.
The first on claims, amounting 10 & 167, ,0S6 on
November l, 1915, OF twenty per cent. and the
second and third, each or ten per cent, on
March 20, 1878, and september l, 1850. The
amount que and unclaimed upon the first divi-
oend is $50, 24S.24, and is payable 20 81 967 de-
poSitorS, or "a average or about Sl.20 10 each
depositor Tne ansunt due aud unclaimed
upon the second dividend is $50, ,92726. and is
payable 10 sc 0IS depositors, or an average OF
about SIS cents 10 each depositor, and the
amount Que and unclaimed upon the third div
poSftors, or al average or about Sl.35 10 each
The total amount or unclaimed dividends Is
therefore sl24,'l5 81, and the average amount
due TO each depositor about s. 20. or these div
deL ds Sc, ,5S2.l4 has been disbursed TO 255 claim
ants since the controller took possession OF the
essets, and the advertisement was Inserted IA
The STAR. The real estate belonging 10 the
bank is estimated 10 be worth S325, 900, which
includes the Banking House property. This
property is probably the handsomest ouil1lng
site for public building, hotel or opera house
in the City Of ashington, and has a frontage
OF 1s6 feet 10 inches on Pennsylvania avenue
opposite the Treasury department, and SO feet
OF depth opposite Lafayette square, ana
contains an aggregate OF 2S l2l square feet or
ground. The bank building covers an area OF
go feet II inches by III rect, is a fre-proof
building, which was constructed with special
reference TO Its occupation for government
Offices and to its extension. The original cost
to the bank OF this handsome property includ-
ing the building was s25S. .Sl5 &C. It is now
occupied by the Attorney General ana
the Court OF Claims, and yields 10 the
bank rental OF $40 GOO year. The controller
says that a bill passed the Senate during the
last session OF Congress approprlating $3.50, 600
for the purchase OF this building, and would
undoubtedly have passed the house II it ha1
been reabhed.
BE considers the property cheap at that sum.
and has but little doubt that the government
will be authorized 10 purchase the property,
either for the proposed new Pension building
or for some other pun pose, during the next ses.
sion or Congress
The bank also holds q small amount of real
estate in other cities, and other assets. fn All
estimated TO be worth 100000. AS soon as the
bank property can be sold al the price $3.50. .OOD
al which II is held, another and nnal dividend
will be made TO the creditors, probably OF about
20 per cent, thus returning 70 such unfortu-
nate oepositorS OF this institution as can De
found 60 per cent. upon their original deposits
which anouted at the time OF the failure 20
81 96S, ,693. as.