New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-03-26
MAY REORGANIZE THE BANK.
THE DIRECTORS OF THE WASHINGTON Ma
TIONAL TO MEET TO-DAY.
TT Is LIMITED THAT PRESIDENT sHERMAN's
ARREST MAY FOLLOw-soME OF JOHN

1T IS LIMITED THAT fiESlDENI
ARREST NAY FoLLow-soME OF JOHN
S. sILvER's METHODS.
The directors of the Washington National Bank
will meet today at p. m. and decide whether 'hc!
will reorganze the bank, with the permission OF Tue
Controller or wind it up The officers and directors
would not express themselves positively yesterday As
10 their probable action but late In the day one Vi
the officers and large stockhoder ihr1mated that the
hank might be reorganized. There are some infuena
men among the stockholders who would not aeso
IN have their names connected with An INSTITUTION
that was a complete failure. and who naturally "o""
like to see the bank redeem itself. There are a'So
some business men operating near the bahh wiz ore
small stockholders. The suspension or the oa"h "
greatly Inconvenience them, anu ''eS "'0 ~
to have II recognized.
Mr. uonhurn the United states Bank Examiner,
who * in charge of the bank, Ill yesterday anu
unable to come downtown. He has bad coo' ""''n'
II is said. may be touch OF the grip '"'
absence James Christie, his assistant, was III 'has
Yesterday Mr. Christie said that he was busy making
nm the report to be transmitted to Controller Lacey
d be Thought that il would be ready to be forwarded
last evening 1t would be preliminary report giving
statement OF the condition Of the bank as Mr.. hep
hurn found it, and that was about all that MI Chrsue
felt that he could give out concerning II. Norrc
spondence was in progress, he said, with BANKS 'a.
had had business with the Washington National, ana
mont conld he made of the banks condition.
President sherman still remained away from the
hank Yesterday. 1t was said that he was 100 III W
appear on the scene. 1t was reported that Warrants
had been issued for his arrest the allegation that lie
had violated Section 5,oO3 of the National Bannhg
art which prohibits an officer, clerk or agent OF
bank from certifying any check unless the person
drawing the check has deposit at the time IN
amount OF money equal to the amount speciheo !"
the check. The not confirmed at the Danh'
nor al the Office of the United states Dlstrct-A'ocs'
In speaking of this Mr. Christie said that whiie Mr.
Sherman had shown poor judgment, 1t was not al ai
certain that he had been criminally careless
There was a good deal Of gossip yesterday about
John s. silver and his relations with the Washington
National Bank ana the American Loan ana trust 'om-
many II was reported that Mr.. Hepburn would ex-
Main in his report 10 Controller Lacey how MI silver
had obtained money from the Washington NATIONAL
Rank 70 meet some pressing obligations TO the Ameri'
CON Loan and Trust Company. J. Edward simmons.
receiver for the trust company. said that he could
NOT as an officer of the law, discuss any OF MT svers
relations with the trust company But from other
sources it was learned that Mr.. silver borrowed FLO
600 from the American Loan and Trust Company "heu
Mr. simmons became receiver for the trust he 1ouho
among Mr. Silver's papers about $4,000 In hung-up
drafts and he issued percmpOry order TO Mr. silver
IN nav I'D these drafts 1t was said that Mr' silver
denosted an uncertifed check for S11,ooo with inc
Washington National Bank payable on the Ihiiu ~"
tional Bank The next day he got the Washhetoh
National Bank to certify check for Sll'ooo l,o
touov,jna day he obtained a certified check on inc
WashinCto National Bank for $4,000 on certain W. i'
securities, and paid 81 800 to Mr. simmons l., WOO
Mr. silver not at his once yesterday pV ~
,otad AZ saving that he had engaged in traIsactos
that were strictly honorable and that Mr.
not heen benefited in any way by the accommooauSSne
granted TO him (Mr. silver by the Washington -'"
tiOnal Bank. ,, .orsac+ion between
Nrs Grant and W. c. Andrews, a director ~ wy ~
American Loan and Trust Company IN an9 Tampany
The purchase of stock in the New-i0rK steam P,
anI Phe standard oil Trust the following letter o
Mrs Grant was given out by Mr. ANDREWS lasv t.s
To the New York Associated Press 49,, ,,c q.
Dear Sirs: ! see by the papers thln lhIir sb 70
settlement so unjust to Mr.. W. C. Andrews that M ~
Correct H. IL is not that accuse Alr. I va
Or nptair dealings with me. The tI%nsac'onss "a
sorrod ~ he purchase Of steam stock, was 1T Tt
nv mo as was also a purchase OF stanuaH O,i dru,s
eiocI I do not cast any reflections on M: ~ Nr
- .hc transaction Very truly, JULIA " uh,net
III Pridrenor March 25.-The troubles OF Ihe .r6
.n National Bank have TO direct conne'I0.i rhn
T.rrs silver & Co.'S establishment OF this o.c prns
p.;dent and treasurer of the company, ;. ~ nnrod
ia "a dav. We have as hrin at inv ~ tIono
s S;Iver;s drafts in various amounts. ooo vi IL Ma
.ia. ns high as 900. but in no case Iar@e
NnS secnrty The statement that ne n,ee'I H.. has
eoou IN conner for our concern Is untrut ,.I ,he
sun ., actsd As our agent. and his accouns % An
washington National Bank are p purely tpetontate the
,nSestgation now in process VIII suoS''n'"''
9TH statement