Savannah morning news. [volume] (Savannah) 1868-1887, 1884-01-15
COMPTROLLER KNox's REPORT
An Interesting Synopsis of the Impor-
tant Document.

LduA document.
WASHINGTON, Jan. 1.-THE annual
report OF Comptroller of the Currency
Knox, who is also ex-Officio Commissioner
Of the Freedman's Savings Bank, con-
tains good deal of interesting information
besides that contained IN the short dispatch
printed in the News recently. Comp
troller Knox says that the fourth dividend
Of 10 per cent. was declared, and payment
thereof commenced on June l. 1882. the
date Of the payment by the government
OF the purchase money, $3.50, 0OO for the
Freedman's banking house and adjacent
property in this city. The fifth and final
dividend Of : per cent, making G2 per
cent in all, was declared in favor of the
creditors Of the company on the 18th day
Of May last. At the time Of the declara-
tion OF the final dividend claims aggrega-
ting 1858, 4l3 go, entitled to participate in
the payment OF preceding dividend, had
not yet been presented for payment.
The Commissioner in his last report
estimated the amount required to pay the
balance OF the fourth dividend on the basis
OF the third at S25,992 80, but gave it
as his opinion that 81 800 Of that amount
would not be called for. The shOrtness of
the time, however, which interviewed be-
tween the declaration of the fourth and
final dividends, and the special efforts
made to acquaint depOsitOrs with the dec
laration Of these dividends and with the
provisions of the act OF February l., 1888,
authorizing the payment of barred claims
and dividends upon certain contingent
cies, has resulted in the presentation
of many claims which otherwise would
never have been heard of. so
that it now seems not at
all improbable that very nearly if not the
same amount of claims will participate.
in the payment Of the fourth and final
dividends as participated in the payment
OF the third. Assuming the same amount
to participate it viii require S6 ,j6S 80 adj
ditonal to pay the balance Of the fourth
dividend and $l5,060 Ga to pay the balance
Of the final dividend, an aggregate Of $21,-
62y 63. The assets actually and prospect
lyely available to meet the payment of
this sum and the balance due on the
barred dividends under section 1, act of
February L, 1888, $302l 80, and to defray
the necessary and incidental expenses
OF the office are somewhat
more than sufficient. OF the amount paid
out on the first dividend, the following
sums were paid at the places mentioned:
savannah -.............. . Sol 90
Atlanta ........ 33S o.
-AuGu>tt ------------- -.--- -..-..-.-. 5.5Sl 80
Beaufort, :. {. -.......... l.23l u
Charleston .-......... . IA 79S 81
Jacksonville. .......-.. 796 65
Macon ....-.-.. 2Qi9 x
Tallahassee -.-..--.- .....-...... ,469 So
In speaking Of the assets of the bank
which he regards as uncollectable,
Comptroller Knox says that these bal
ances are due on loans secured by mort
cages, deeds of trust, or collaterals.
after sale and application Of the pro-
ceeds Of the securities, loans upon
worthless or without any sectrity, funds
embezzled or otherwise withheld by
cashiers, and other officers and employees
OF the company, moneys expended by the
company in Florida in efforts to save a
prior worthless loan of large amount.
losses on real estate, unexplained bal
ances due from branches, overdrafts, and
other worthless items. They aggregate.
exclusive Of interest, the sum OF $685.
63o -. Over S2I2. 600 of these claims. eX-
elusive Of interest and costs, have been
prosecuted to judgment in our local
courts, and nearly If not quite as many
more IN amount in the courts of several
of the States+ but, although some of the
largest judgment-debtOrs are apparently
in comfortable circumstances, every ef-
fort made to collect these judgments have
up to this time proved unavaiIing.