Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-02-04
BROKEN BANKS REPAIRED.
The Wreck of the Sixth National Mended
and the Others Likely to Resume.

Matters are looking up in the wrecked New
York banks Besides paying out S64O, 900 for
the recovery of his stock Mr.. Leland paid
to Examiner Hepburn $3.50, 900 to cover the
liabilities of the bank, including the 5000, OOC
capital stock, and $4,000 besides. President
Happen of the Gallatin national bank informed
Mr.. Hepburn that $685., 200 had been placed to
his credit as United States bank examiner in
the Gallatin national bank.
In accordance with the results Of his investi.
cations into the condition of the banks affairs
and the new aspect which the contributions OF
Mr.. Leland and the efforts Of his friends have
put upon them Mr.. Hepburn was in O. position
yesterday to declare the bank solvent and ready
to do business. He accordingly telegraphed
to the controller OF the currency, under whose
authority he is acting, informing him that the
Sixth national bank was now solvent, the
capital unimpaired. and asked for instruction.
to deliver the bank to the new board OF
directors. Pending the answer the examine,
gave his consent for the bank to open its doors
and this was done.
The officers of the Lenox Hill bank have re-
tanned the firm of Newcomb, Donohue & Car.
dozo as legal advisers. Application was made
in supreme court chambers for the appoint.
ment OF a receiver for the Lenox Hill bank
but Lawyer Newcomb succeeded in getting the
motion delayed. He said that arrangements
are being made to meet all obligations and il
successful the appointment of receiver will
be avoided. He asked for time to complete
these arrangements, and stated that in all
probability the bank will be able to resume in
a few days. He said that the resumption OF
the Sixth national will enable the LenOx also tc
resume, but that it will take several days to
accomplish it.
The announcement that the Equitable banl
would open its doors yesterday and pay al
demands brought many of the depositors ia
the bank at 10 o'clock. The doors were closed
however, and Examiner Trenholm was in
charge. Shortly after 10 o'clock Conrad n
Jordan. president of the Western national
bank, accompanied by Arthur Meyer, a son OF
Siegmund Il. Meyer, arrived at the bank They
had satchel with them full Of cash and came
for the purpose of opening the bank
Mr.. Jordan told Examiner Trenholm what he
was there for and rendered the money, which
he stated was sufficient to pay all demands
Mr.. Trenholm refused to admit Mr. Jordan and
Mr.. Meyer without a permit from the Attorney
General. He said he had no authority to oper
the bank or to receive the money. Mr.. Jordan
and Mr. Meyer went away. but returned in hall
an hour and again demanded admittance
They stated that $500, 600 had been raised and
the bank could meet all obligations, but Mr.
Trenholm was firm and they went off in search
OF State Superintendent Of Banks Preston
They said they would return later in the day
and open the bank, but they did not return
n The wreckers Claasen and Pell spent most Of
the day in the Office of the United States mar
shall waiting for bail They were visited b,
several friends and their counsel, but did no
secure bail. In the afternoon they were re-
TUNED to Jail