Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-12-15
The Freedlnen,s Bank.
REPORT OF ITS CONDITION.

A report of the condition of the Freedmen's
bank, by Orson Adams, national bank examiner,
who conducted an investigation by order of
Controller Knox, was to-day submitted to the
Senate. 1t is very voluminous and the written
pages would half fill bushel basket. The re-
port shows the condition of the bank on the 7th
of March. 1881. The loans amounted to
sA7 os,o7, of which s112. 4S3: 10 are
believed to be good: Elsa. 1861 doubtful and
$4oO52S5 30 are regarded as worthless. The
over-drafts amount to SIS. 129. O6 and are of no
value There is debit balance of stocks. bonds.
&C. &C OF s6s 4os6o; Of which the following
bonds and balance of account after sale
OF bonds. S311.49: Maryland mining
and manufacturing bonds. S57. 800; Chesapeake
ana ONO railroad bonds, $191.0S. The re-
mainder OF the securities are good personal
property at branches Of the bank. 500. 1896 1t
did represent office furniture, etc. but all of
THIS property now in possession of the bank
consists OF the furniture aud two safes in the
commissioners office here worth about 81 500.
THE REAL ESTATE.
This property is situated in the District of CO.
lumbia, Jacksonville. Fla, Vicksburg Missis-
sisippi, Memphis Tenn, Atlanta, Ca, Norfolk,
Va, Beaufort, s. c., and Chattanooga Tenn.
The real estate in the southern states is abso-
utely unproductive and charge upon the COM
pany for taxes. ETC., and should be sold at the
earliest practicable day. The improved property
in washington pays affair rental. The banking
house is leased to the government at an annual
rental OF 2O.6GO. but because of insufficient ap-
preparations the rent is now in arrears to the
amount of S31 1888; judgment has been OBJ
tanned for 81. $50 of this arrearage by the late
Commissioner Evan Lyons. who has heretofore
leased the Lyons mill property at Rock Creek.
and is indebted to the company for unpaid rent
$500.
THE MISCELLANEOUS CLAIMS
are worthless. with the exception of the Butcher
Judgment now in the United States Supreme
Court. the Henry Smith debt. and Catching &
lngersoll, upon which something may be real
lied. There is an item of $685., 954 16 to the
debit of profit and loss account.
THE AMOUNT OF DIVIDENDS PAID.
together with $65 5333 80 dividend checks signed
and now ready for claimants, makes s1,119.-
1856, being forty per cent on Sc, 100 $50 IS
proved claims. The total liabilities are SO, $685.
669.33, including liabilities to the extent of
S164 ,3S6.GS not proven against the company
The balance due First National Bank of New
Orleans may be lessened by future dividends.
There is an item of SIC, 672 81, representing
proceeds of collateral sold to the credit of Van
deEburg IL Abbott Pavement Co. In addition
to this amount there are a21 $50 in District 65
bonds, 30shares Second National Bank stock and
some paving scrip, being held as security for
the Vandenburg loans. There is under the head
of property account a credit balance of
$40, 1901. which represents the profit realized
on sales ofproperty. Income from real estate
Property at Jacksonville, S5.3s7 81. and bank
building at Washington, $5S5l63S; total
SOB, 906 20. The late commissioners are APP
piauded for their management Of the company
Their receipts to May 10, 1872 were 81 4SO 269-
S. From May 10, 1879, to March T.
1881, sl67, 1861; total, $1,64S. 0G6 49,
Disbursements to May 10. 1879, ST ,209, 3347 81
to March Z, 1881. $3l7. 1913 95; cash balance
$121 $780, total. 81 ,64S 06619.
Expenses.-Since May 10, 1879, the following
accounts have been debited: Salary, $24. 100 7d
Incidental expenses, S1.301. A: attorneys fees
Including taxes. 81, SOB. A. total, $32. 695. GO.
UNCLAIMED DIVIDEND CHECKS,
amounting to $50, 533 90. are on hand. If the
bank building can be sold for $3.50, 0OO and the
other property brings prices anywhere near it's
value, further dividend of 90 per cent can
probably be realized for the creditors. Referred
to finance committee.