New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-18

I'm, Though many OF the directors were
at the bank building, no meeting was heid' Anero
- ,horo,ore M formal action taken for the further
Lift ~ tho distressed Institution. The fact that
neither the directors stockholders seemed osposea
IN make up the large amount OF money that must 10
had II the bank resumes, leu Mr. rres'oh W ''o ''
favorable conclusion which lie announced last evening.
Irn,ess some heroic action taken to-day the North
river Rank will 90 into the hands Of receiver.
All the officers OF the bank, with Bank Examiners
Preston and Cahill were hand at the bank build
ing at comparatively early hour yesterday morning
Between the hours Of o a. IN. and IL a. m at least
fifty depostors entered the deserted banknsrooms Tor
the purpose OF signing tho circular. and for time
hopeful feeling prevailed. The president Edward F.
Gedney maintained his policy Of silence. as did most
OF the directors. The cashier F. r. Ingcrsoll estl-
mated that the amount guaranteed to be left deposit
for ninety days had reached 100000, and thought
that the remainder could be secured within twcntv-iour
hours This the highest estimate given, however
others being placed at considerably lower hguic'
Mr. Ingerso said that the amount OF money needed III
addition TO the 81 10000 Of deposits was S'ooooo'
the bank having already so5o.ooo in available cash.
He said that meeting Of the directors would be held
arrno the day at which methods OF securing the
needed money would be acted upon. But In tiis Mr.
Jncersoll proved to be mistaken. Several OF inc
directors met informally at the bank but leit earN
In the afternoon with clouded faces. Inc BANK EA'
aminer c. NJ Preston, was the last 10 leave the piu
ing. When he did So he freely expressed his opinion
that the institution must pass into tue hahus Vi
rscsver. He admitted also that there had been a
shrnkage I'm the supposed value Of the assets ana tat
instead OF nominal surplus of $4,000. the banks
statement would show a deficit of probably Sloo'ooo
This fact was brought out by the closer examination
Of the banks collateral which Mr. Preston mas peeh
enabled TO make since his first report.
when the motion made on behalf of the Apgar es'
tate for the appointment OF q receiver for inc >o''
River Bank came up before Judge OBrien Ill supreme
Court Chambers, yesterday morning. was sau .'a'
negotiations were still pending for the recstabs'
men If the hank and an adjournment until this morn
ing was asked for Deputy Acknowledgement Post
appeared for the Attorney General and for MI. Pres
ton Mr. Post argued that as The asse'S oi 'no oaih
were in the possession Of the estate an anIouien'
would not be detrimental to its interests. EA'"use
Fancher who appeared for the stockhoiders' eAPres
The opipion that settlement OF the bank ahaiis WAS
a long way off, but said he would consent 10 the aa
ourpment with the stipulation that there should DO
M other application for a receiver pending inc aa'
iournment Mr. Post objected to the stipuia'ioh
on the grounds that he could not so bind the AtorneS
General or superintendent Preston. Juuse n',o,'
however. said he thought the stipulation was ian
and granted the adjournment ..
Otber depositOrs were represented by attorneys
among them being Abbott Brothers, OF NO. 81 broa''
wav who gave notice that they would apply lot the
ap3ontment of receiver today. ,..
We the receiver will be, in case an appoihHoh.
is made is not yet known Mr. p pnssp s sS1r
shsa lanes ID. Hall, liquor dealer
~ Dev and Greenwich srs heavy depos.1or
I'm the bank said yesterday that the deposnors VIZ
ssn another designating certain man for the receiver
slip The name of the maa could not De carr gohr
rumor gained credence YESTERDAY noon ilat so thn
II s,arn had offered to furnish large portion OF INC
money needed by tho bank. Mr.. starh expresses Sn
nna,,on with the bank. lie kept small deposi,
there. and on the day before the suspension nahdel
s 600 saving ~ understand you are In nttlc
tnHe here Since then Mr.. starin has been active
in the banks behalf, but has not maae ''io o"er
credited TO him by rumor.