New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-07
WHAT AMBROSE SNOW SAYS.

NO DOUBT or MR.. FIsH's INrEGMrY-A MISTAKE
TO CONCEAL THE MATTER.
CAPTAIN Ambrose snow, director Of the bank
was sitting quietly in his back parlCr at No. II
Bedford-aye., Brooklyn, last evening whom TRB-
UNE reporter called. HIS serenity was not at all
disturbed by what had happened, though he ex-
pressed his regret for It strongly He said:
so far a, we know, the bank indebted to
the Clearing House this morning in the sum Of
SJ5O,0OO, and that came from Grant & Wards
failing make good their account. The directors
went TO the bank at 10 O'Clock and held meeting
The president was not there, and the ice-presdeut
was ia the chair. They made their discounts, and
went away at 1920 a. IN. About an hour after this
! heard that the bank had closed its doors The
president went to the Clearing House, II seems this
morning. and after consultation, wrote a note di-
rectnq that the bank be closed. | have always
understood that James -. Fish, the president Of
the bank, had put in certain amount OF money
and become a special partner Of the firm OF Grant
q Ward. All that l know of his having put in is
$4,000. Idon't know whether he increased that
or not The rule Of the Marine Bank is not to adj
vance over $4,000, or 10 per cent Of
the capital stock, to any one, whether
an officer of the bank not This
is the rule Of the National banks.
But TINS money was not advanced to Grant
a Ward ia the shape or a Dan. lUty GREW tutth5
OH OF her ban Ks and deposited them cash and
then drew checks against these deposits. This Is
customary. The directors viii nave a meeting at
10 o'clock tomorrow morning. expect that the
president will be there / have no doubt OF Mr..
Fish's integrity. He may have made mistakes and
trusted 600 far, but think him entirely honest.
regard il as a mistake that he did not meet the
directors this morning and tell them about this
matter Had he told them Of the deficiency they
could nave made 1t good. They would have Dor
roEed the money from other banks and settled the
account AZ the Clearing House, as u often done
when a bank is not prepared 10 make good dcu-
cheney. / can only account Tor his not dong 80 Dy
the reflection that he must have lost his head De-
come confused and made a mistake. Nj. fl5l Is re-
uoried TO be worth one and half millions. lie IL "a
large real estate owner In New York. The directors
look ed for him to-day. They went 10 the Clearing
HouAe and were told he not there. No one
that | know OF succeeded IN seeing him. Mr.. tI5h
and his family own nearly One-quarter OF the stock
of the bank MIR. Ward Is also director. nave
never known anything against Dir. ward MEG
,ttg, his affair i00ss 70 me like yehtuIs7ohe
operation OF some kind that has led MN on ana
put his credit such shape thar he couIu uot Dol
row money We think none If the depOsllOrr VIII
los4 anything. The $500 600 has been paid 10 the
Clearing House with cOlateTals OF the BANK to-day
The bank has loans Of 4,JOO.VOO III nous Peo-
pies notes for that amount Ihe president Sent
word to the cashier and he sent up bills receiVaDie
sufficient 10 hquidate the debt to the I ieafiIg
House. NO one knows where Mt. ara Is nc
could not be found to-day