New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-04-26
LOCAL MISCELLANY.
GERMAN SAVINGS BANK.


There have been complaints recently on the par. ~
Seposifors in the German Savings BANK . on n,u,i
sailia which placed in the hands OF Mi,,a s 10
that ont of dividend of 80 per cent which u Was
expected would he declared only 81 per eia for
been paid and that $iO.OOo IN oo,us vac ocnt ner
sS0O and 81 40 900 for tIree-cighths per cent P.a
%SIGG They also state that they are anxious 10
ySavc the receiver make an early statement III re-
gard to his management OF the iunas ,hase Sat-
his care TRIBUNE orter repeated 'hsse s H.
menfs to Mr. Best yesterday afternoon; MI. DI J
referred the reporter TO his counsel WHO n'"o 'i
Whel Mr.. Hest took possession as receiver the
cash on hand was 1851 80. The stocks bonus anu anu
mortgages amounted to $l35,lso w anu .h1 vnd"r
estate 10 xa0 022 so which bought III nna en
foreclosure of the mortgages There MaS ou F? indg
received On compromises aud $2,o44 IL Oh Jdd;;,s
ments. There are claims now ~ S12O gG9 81
which the receiver expects 10 nave oIyusd honds
next month. large part OF tine s'o1kS al" the
hank prior to the appointment OF the receiver as
security for call loans made to It, when the re-
ceiyer had 10 ray before he could get possession on
The securities Tor the purpose of selling them. me
Supreme Court approved all the sales maze Oh rao
ecuritics. Many of the mortgages when came INTO
the hands of the receiver executed ny me rs-
Tees TO other persons and by them to the bank LOT
the purpose of making up a deficiency when eNsleu
in the bank prior to the appointment o, n1 20 enforcc
payment The suits were defended ana TWO on
Them were carried to the Court of Appeals AS me
receiver realized from the assets OF the nahh anu to
proceeds of those suits, he paid from time To time
three dividends the first Of per cent, the second
of 10 per cent and the third Of per cent lie mas
presented his accounts from, the date OF HIS ap-
pointmcnt up to and including March 81 to me
Supreme Court, and an application Is pehuins to1
the appointment OF reisree 10 e NAM f he
receivers accounts. pom the CONTINUATION oi mis
accounts which, il is expected, VIII take pace
within the next thirty days. IT Is his intentloh 70
apply for permission to pay a iurther ui'iueh' ~
'' The Counsel added that if all the claims against
the trustees were recovered the dcposltOrs Wouiu
4. .n1lt b.rt
BIDS FOR THE DOCK DEPARTMENT.
The Assembly subcommittee which is invcstigat-
ing the dock system of this city met yes'SSruay az
fhe office IL the Dock Commissioners, No. ii Z
buane-st. Augustus T. Morris. of the MOTIFS ~
Cummings Dredging Company. testified that the
company had done TS7k aGr since hat time had
worked at different piers under sub-c3huac,s il"n'
the Union Dredging Company. Joseph cummings,
partner of the previous witness teStllcd that luVy
hal done work for the Union Dredging Company
about the city piers They had not had any speGla.
contract TO price but had charged noot wI'
dredging were from % to 80 cents yard AT me
time they Put in their bid to the departmen, ai 90
cents They had never charged anyone 30 Inv 9e mas as
versatons with Commissioners Lamneer anu hau
given as his reasons for bidding SO high that aDol
would cost more than before, and they w9uId nav
20 turn away better customers if they did the city
work In answer to Commissioner Lambeer the
witness testified to the efforts OF the Commis-
s;oner to yet tho work done more cheaply. , =,
Chandler r. LOOMS, superintendent of the lnlon
Dredging Company. which has the contract ioI
dredging for the department testified that he had
mt In personal bids for certain work. He had re,
reiyed some contracts at - and 33 cents, aud had
then hired the Union Dredging Company, OF whUh
he was superintendent. 10 do the work for 70 cent
n ward. The profits were to Ire equally divided
between himself and Mr. Benson, the secretary OF
the company lie was receiving a salary from the
Union Dredging Company at the time he made inc
contracts One of the contracts had hetted MN
seven or eight hundred dollars and another from
ten to fifteen hundred.
The committee will meet next Friday morning at
the same place