Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1884-08-12
BANK SUSPENSION.
The Wall Street National Bank Unopened
Monday-Cashier Charged With
Irregularities.

NEW YORK, Aug. IL.
Wall street bank has just closed its doors
owing TO irregularities on the part CT its cash
ier. The bank will remain closed until mat.
ters are investigated.
The president is Thos. W. Evans and the
cashier John p. Dickinson. The bank is at
No. 10 Broad street. and is a State hank.
When its last annual statement was issued in
September, 1888, the figures were: Paid up
capital $500, 600; surplus SOS, 1876; undivided
profits S41, ,736.
c. f. Timpson, a prominent banker, says
relative TO the closing bank, that trouble
arises from the fact that the cashier had been
loaning money freely on insufficient securities
which at the present time have little market
value. The bank owes the house of c. F.
Timpson & Co. a small and Insignificant
sum.
The vice president of the Wall street bank
states that the clearances of the bank will go
through the clearing house today. The cap
ital stock will probably be swept away. De-
positors will eventually be paid in full. 1t is
likely that so per cent will be paid them by
the end of this week,
1t is stated that the cashiers shortage will
amount TO $500, 900 and that the bank has
$50, 600 of bad debts.
The bank deposits will be paid in full and
the bank will be able to straighten out its
affairs.
c. F. Timpson and c. J. Osborne, directors
of Wall street National Bank on Saturday
night and Sunday made thorough examina-
tion of its affairs and decided in justice to all
parties not to open the institution this morn
ing The result of their examination was as
follows; Deposits Sl,250000; call loans
81, l0O, 900; good business paper $3.50, 900 ;
cash on hand SlS5 600.
WASHINGTON, Aug. IL.
1t is learned at the treasury that in Sept.
1888, the bank examiner in New York, found
evidence of over certitication of checks on
the part of officers of Wall street bank. The
evidence was laid before the secretary and
by him referred to the attorney general.
The result was that the teller of the bank was
indicted for violation of bank laws.
Efforts were also bein made to indict other
officers Of the bank. when the bank went into
voluntary liquidation, and soon after was
reorganized under the laws of New York. Its
suspension calls for no action on the part of
the national authorities.
New YORK, Aug. II.
Henry Clews said Chas J. Osborne. who
is worth several million dollars and director
in Wall street Bank had expressed willing
ness to help the bank out of its present emer
SenCN. IuhoI PleNaiieu 'i'"t wv NShNIe"
cy would reach $3.50, 900, and Dickson had
been in the habit of charging on the books for
larger loans than he actually made and
pocketng the difference, the latter however
did not receive general credence.
J. p. Dickinson is 3S years old and is a
son-in-law of Chas. II. Simpson, vice presi-
dent of Wall street Bank. The bank has
been regarded as shaky for some time past
and depositors has been withdrawing accounts
from it.
At the clearing house it had liquidated its
debts and its accounts were even. Rumors
Of failure of other firms closely connected
with the bank could not be verified.