New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-02-05
TWO BANKS OPEN AGAIN.
THE SIXTH NATIONAL AND THE EQUITABLE
RESUME BUSINESS.
MORE DEPOSITS THAN WITHDRAWALS = THE
LENox HILLS DOORS STILL CLosED-PELL

FINDS BAIL AND Is RELEASED.
Two Of the three banks which since last Thursday
have been closed 10 business because o. the work OF
the Claassen-pcll syndicate were opened again yes
terday morning. The doors of the Sixth National
Bank thrown open few minutes after 10 o'clock
hut it an hour later when the Equitable was
open for customers. The Lenox Hill Bank was MOI
fortunate however, and those who are intere'te1
in seeing It upon its feet again were disappointed
As affairs now stand 1t is probable that this last
Institution Will be open before saturday at the earliest
This viii depend upon the efforts made by the BOARD
Of directors and the will OF the stockholders ana
dep0stors. Out OF the s27 depostors 500 signed
the petition asking Judge Maynard to put the AFFAIRS
OF this bank into the hands of Conrad y. jordan
president of the Western National Bank He VIII
see to IT, possible that the interests of all concerned
are looked after.
OPENING THE SIXTH NATIONAL.
About the busiest bank in this city yesterday was
the Sixth National. From a few minutes after the
usual hour when banks opened for bust
ness until the closing hour, O'CLOCK
the clerks and officials had not an nstants rest from
work. Early in the day there was much larger
number Of deposltors the sidewalk In front OF the
bank than there had been at any time during the ten
pCrary suspension some OF them looked anxious and
expectsnt while Others appeared, tried to appear
Indifferent. Among those waiting were many women
each carrying a handbook. When the hands on the
clock in the Union Dime Savings Bank, at Thirty
second-st and Broadway registered exactly 10 O'CLOCK
all expected to see the doors fly open, and each In
dviduaI dcposor there was ready for the rush. The
doors did not OPEN and for few minutes there was
some fear that another hitch had occurred. Within
the building clerks could be hurrying to and
fro and away back in the presidents Office was little
group of notwithstanding mon. They were F. D.
Tappen. c. W. Wetmore, Joseph Park. c. q. Landon
Conrad y. Jordan Edward King and the National Bank
Examiner A. b. Hepburn. They were there formally
TO receive the securities and the custody OF the ins
tuition from the National Bank Examiner Charles H.
Leland confined to his home in Madison-ave by
sickness. Considerable time consumed In signing
the necessary receipts and papers and when this had
been done the again ready for business, ex
cept in a most important particular Bills and specie
amounting TO 100000. which we're to come
up from the Gallatn National Bank, had
not yet reached the sixth National. Mr.. Tappen
stepped to the telephone and rang mp the WaiLst'
Institution, and in a few minutes the money was on
the way uptown in a carriage guarded by two OF the
Gallatin Banks truSty clerks. The moment that this
money inside the bank the doors were opened
and business began in good earnest.
RUSH OF DEPOsITORs
There was nothing like serious run the bank.
Although the paving teller kept busy, he did not
have to work One-half so hard the receiving teller
In the five hours which the bank was open less than
500 900 drawn out by depositors while the re
ceiving tellers got within few thousand dollars OF
5000 Those who put their money In the bank
seemed to be anxious 10 become depOsiors than
those who had money in the bank were to draw their
money out. Most Of the sums paid out we're in small
amounts some drew out their entire deposits, but
they were few.
Cashier Colston was in a happy frame Of mind. He
was delighted with the results Of the days business
He said that been far beyond his expectations
and felt that entire confidence in the institution had
been restored.
c. e.. Landon, vice president was at the presidents
desk in tho absence OF Mr. Leland. lie TOO, expressed
great satisfaction with the days business. This
notice was pasted in the window
Mr. Leland has restored both capital and surplus
this bank just as It was before The sale
Of his stock and deposors should feel every respect
the same security as before a. b. HEPBURN.
Bank Examiner.
Mr. Hepburn said to a reporter When turned the
bank over TO the officers this morning il is fact that
its resources equivalent TO 92.7O0,0O0. which In
cludes bills receivable and paper which l considered
bad yesterday, but which Mr.. Leland has made good
this morning. lie covered the 1882 900 Of bad Checks
with cash BY payments 10 the bank through Mr.
Leland. They are held by Mr. Jordan and upon
the liquidation OF these depends the resumption Of the
LenoX IIill and Equitable banks. The Sixth National
has a surplus Of 81 100000
The securities which we're taken from the bank by
Caassen will be I'm the possession Of the rlghfu
to-day or tomorrow, unless the negotiations now
on foot fall through.
The Equitable Bank was several hours behind the
sixth National In opening for business in fact, IT
after l O'Clock in the afternoon when the new
cashier said that everything in readiness for the
public. Conrad y. jordan. Siegmund T. Meyer, Pres
dent Tallman and Charles Gerlach met at the bank
at II O'Clock in the morning. and for hour
were I'm consultation. Mr.. Jordan had with him
permit from Bank superintendent Charles II. Preston
open the bank under the condition that the certified
checks which caused the suspension should be taken
mp and settled. The three leading directors agreed
to do this and Mr. jordan took the checks. While
they were In consultation clerk from the Western
National Bank was driven TO the door with valise
containing $4,000 In cash. State Bank Examiners
Trenholm and Cahill at the bank and when
the money arrived they allowed the doors to be
opened again.
The new management accepted gladly on Monday
afternoon the resignation Of a. ~ Courier, who
the cashier who certified the checks. In his place
Nathaniel A. Chapman, who for many years has been
in the banking business and who held place Of trust
and responsibility in the Western National Bank under
Mr.. Jordan elected cashier This at Nr.
Jordan's request.
There apparently no unusual amount OF busi-
ness done the bank during the short time which
was open. few deposors drew out their money, and
number of business men and merchants demon
strated that they had the utmost confidence in Mr..
Jordan and the Board Of Directors by making de-
poslts. The entire amount due to depostors less
than s2O 900 when the bank opened.
WOMAN LOOKS FOR COURIER.
Ex-Cashlcr Courier did not 10 the bank until
late in the afternoon. 1t we'll for him that he
did not for an exceedingly angry woman who was
eompanied by her lawyer looking for him. They
I'D L.. -
G. Tallman the lawyer explained that his client had
deposited $40 in the bank last Thursday afternoon
after the had been closed and he wanted TO have
Courier arrested unless the money forthcoming.
Later in the day he found Mr. Courier, and the money
was paid 10 him OH a check drawn by hi, client lie
went away saying that the payment Of the money by
the bank did not release the cashier from his re-
sponsibility. and that proceedings would be begun
against him Immediately Courier will hold no place
,,rao, tha peuy mafrtrempnt l.. said