The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-05-07
A Burstsd BANK.

Nnw YORK, May 1.-The Marine National
bank has closed. j. ID. Fish Ia president.
The bank year ago purchased Booths
theatre and nj tho clearing house II 10 con
sidsred u suspension. |, is thought the nail.
uro IN bad one.
The capital OF the Marine bank, S400, 900
LIS statement Of See,ember % last showed
. surplus OF $3.50 600; undivided profits,
;G23i5. John ID. Fish Is osshier.
NEw YoRK, My 6.--Gr.nt u Ward ao,
nouncs closing on account OF the failure OF
TIE Marine bank.
A visit 10 the bank discovered some fifty
disoonsolste depositofs standing In the
pou Dug rain around the closed doors. No
admlttance was given reporters. No notice
was posted on the door. The bank was open
at the usual hour this morning, but before
noon closed abruptly without assigning any
cause. The stock market was very active
aud seemed TO bs some connection between
the failure and condition OF affairs OF the
stock exchange. Depositofs, Judging from
the appearances OF those about the building,
are OF the wel-todo class. Explanation Is
promised for the afternoon.
NEW YoRK, May 6.-rhe Associated Press
reporter visited the clearing house endesv.
orinR to obtain information from Manager
Camp, but that official would only coy the
clearing house committee was IN session
aud nothing would be given To the public
until It has concluded the examination OF
the accounts az the hank. IL Is said on the
stree,s tn ut tho banks downfall 10 due TO the
real estate transaction OF President Fish.
Sometime ago ho bought Booths theatre
and "a now converting 1t into eiores. He
ia also interested in apartment houses.
officials OF the bank asked whether Fish's
operations had caused the suspension and
whether tho bank WIS doing business with
brokers and so lost money. He refused TO
answer. L. Is believed that the failure IL
dna ia n little OF both.
The z at saws: The suspenson ofthe Ma
ne National bank was announced lltile
after IL O'Clock this morning. The imme-
date cause Of the failure was the bank o
inability TO meet its dett. about S6N,OOO,
At the clearing houss TIL; morning gu.
presumed to 10 the real estate
operations OF President James d. Fish
wi,hia that time he bought
Booths thsstre and the Casino
aud has also recently been building large
apartment building, The ysl,c''
reconstruction OF Booths theatre
and building Of The Mystic have tsker
q great deal OF money which he 10 presum
ed to have borrowed from the eank
Fish Is second vice president
Of the st. Louis & San Francisco
railway and the Marine bank Ia the regs
tration Office Of that stock. II Is not presum
cd this connection had anything to do viii
the banks embarrassments, though IL u
understood to have some connection will
either the Ontario & Western or Yves
Shore bonds; manipulation may have hat
some influence, though probably secoDdar,
| TO the real estats operations OF the pres
dent. A few minutes after i o'ciocl
a gentleman made deposit
the Marine National bank, and as he wen
! out was followed to the door by the bani
porter. who began rolling down the iror
shutters. The deposiior ran back 4
TO find the receiving teller had shut hi
window aud gone out of business for an In
definite period. The paying teller was still
more conspicuous by his absence
The depositor had the consolation OF stand
ing on the steps Of the bank for the mex
hour and telling his experiences to crowds
of excited depositors who gatheree
at the corner OF Wall and Pearl streets
within an incredibly short time after tn
failure of the bank was announced Al
information wss denied reporters. GossiI
among the crowd OF depcsisors attributed
the failure chiefly to the miscarriage
OF large real estate speculation
by james D. Fish. yhe business .rna do ,o'
the neighborhood, and the feeling
a nong the depositors was bepeiu
that while some delay might be caused by
thei'< r:ssity Of selling a large amount o
N\ANSa'e, but unless the failure
|AN 1se than too heavy real estate
w ak,n. the failure would not prove
AfUus Uuo 20 :ha 6cpo:itors, whI
are dfsposed to m Ike the best OF It, II :!
said Wall street generally objected TO thu
Marine bank because OF Its family
character. James d. Fish II
president; John d. Fish u nephew, cashier
and half a dozsn othel
relsti7es of the president are ii
positions OF trust. The capital o
the bank Is $500. 600. Cashier. Fish's otfl
oisl report OF April 24,h shows: Tota
resources, 81 .269 ,425 total liabilities
this same On Friday said Fish transferred
the building next to the bank, No. Is Wal
street, TO the bank for $751; ,0VO
This became generally known, and tn
effect OF the failure virtually discouraged
In the clearing house this morning w.
bank was indebted $500 900 and Man
sger Camp refused TO allow clearing pro
coed until security TO that amount VIZ
provided. Thus the clearing was delayed
and although finally accumulated, secui
ity having been given tor $500 600, the Ma
rine bank officials decided tn suspend
Director Yates, of the Marine bank. say
there is no deialcation or dishonesty 10 tn
mansgem ant. The PRINCIPAL trouble
the bank cannot realize on some collateral