The sun., 1891-03-20
PATIENT xECsrvsR w1Lx1Ssow
stti Wstting fsp G. aaA .. - Qs s~ g.
Depos1tors Gave 10 Up Lone Aeo.

SAVINGS bank receiver" and every mind will
revert to Mr.. George Wilkinson. whose profess
sion is that OF receiver for dsfunct financial,
institutions. He has been receiver OF the
American Trust Company so long that tho
memory Of the average Newarker does not
reach back to tho time whom he was an.
pointed. AMI no has been receiver OF the
Newark Savings Institution long enough
10 call out frequent and vigorous protests
from every deposition who has not given
up oil hope Of . Anal settlement OF tho
affairs OF that bank. The bank failed on May
1G, 1884. and Mr. Wilkinson was appointed la-
ceiver then. Nearly seven years have elapsed.
and the affair." OF the bank have not been set
tied TN. Tho depositors are continually clam
oring for a final settlement.
Mr.. wilkinson f. in no hurry. Aside from
the fact that beAng a receiver lie . pleasant and
not arduous means Of existence with fair re.
muneration. he has an idea that II will be to
the best interest al the depositors to wait q
second preferred Goes up to 60 Then no will
close out the block: Of sl.2o00O0 which Fisk &
Hatch gave the institution In lieu Of good per
cent. Government bonds when tho crash
came In 1884 and they had hypothecAted
the Governments whieh Daniel Dodd careless
~ lett in their custody. Chesapeake and Ohio
stocks were away down them and It was wise
to hold them for rise. They went UP last
year. however. and 1t really looked as though
50 might be reached. At that point Mr.. Wilkin-
son would have been able to close out and pay
Sorhood Of SI. Mr.. WiiEinson lost his % chance %
Sny H Woua not rshcr take lev ao
lars less and have the matter out OF mind than
fret over toL months nna Gerh.ps year, to
Sne ssnf III .sn an g
The history Of the failure Of the bank goes
bsa: to 1877; when II II ,sn snsGEsHnded GH. and % Mas
Ssss a., gave H depostors The imSrsssion that The
!. could noi -; p';ss;si5iy isIi / .ssin: chsneeiior
cSnn,, WITH &. q 'E
the old. acoonnt was being speedily paid on.
when ,he I9ns 2, 1884 asi swept s% aSTn ths hons:
tho Newark Savings Institution was Informed
OF the impending failure and hurried over to
Tsn Tno% sends 1sas
The bonds were gone,.,hypotheeated By FisE
x Hatch: who said that The Newark hank
replace them with other securities at will.
10 their place was To- lot 81 stosks s
s6s. Mr. D9dd packed them In . sstcfcl and
hurried to Newark with them; glad to get any.
nS sas es, @ T.
snoshsr sy ha passed IS IN bs Dseps 81
aid NOT sa'' b.eSs aas ' t % possSs Tho chsncesr
had ordered thnt no securities but Govern !nsnt
Ssnls Ssnb sss ssu tho DcS.nesliors hssds. How
pon.a ressvs ss Sssan M Viii III
I chesapeake and Ohio stocks. They had been
tsss ssst Of as Sss % y So" o III. , @
mortgage 6s OF this rond. In December Of the
same rear ano,her million was Invested III. In
road s' wer. s FISK \ Hutch and shortly attsr tic
81 Sn %ss made "a s 81 $685. Of
s 1as .sS Ss Il. SoSH II ssis
,Ss "a ssss. vs e. g. aS.usspl s.vss
s;''s F:H IL
81 said hs That IGG GSs time ssssm:nt va. n.ds
with the lirm which in The ena Wrecks ne
that tho firm should have ne custody oi ihs
banE's Goyernment securities and the prlvi-
sEe Of u'ns them q WILL ras rst
private firm and when sSas S;o hfm wHs Trecked
s4.Se5 ssS u. 10 whieh might Be- added Claims
have been made for about six years. Public
ins s to Il. bank. and the dsnesitofs 20 tho Old
account have received dollar for dollar with.
bsy S ss 70. sen sas hs s
clamorinR for more The ONCE OF the bank 10
nov in q small rear portion n :I q the fine stone
liverpool and London, and Globe Insurance
% positors %chaie a! the ssponse lncSrred r even
now In tardIly brineinE the matter to f1nish.
Jan. /. It was as follows:
G.h and NE e5sd e ne old
IS: ataM: rad oas a:pc.itSr., diviasnGs tsis 81
s:s. l:. ::,ss: @ sesoani in S.at and cds: ~
49, .uS s's,. xass s
] Ss$:as' e. rs e: :s'sa s.ns
&..s ~ r:esy:a 81 81: "a sss +. new account se:
Of s,' S..a cs .s% f'ni.
e; g.. y; Ii.
s:"s
i::: e s G.'s .s ss sss
.sa 81 ,. q s"s Gss 5a bo%acs
!:sna ,,,.Smpaoy :,osk. par value saiiooo; ioisi
ass s: e. s::ss; q: g ;s
~ per cent. g. a77his; u peI CENT $!!i07; ~ PER
+: eat 49, total. $A8ISSs.a.
The expenser OF the rsceivership amount to
betwesn $1,000 and 5000 2 Year; and this IL
sickine and Wondsrina why ths CSsncsiior
toes not do something to terminate y! II will
he seen that the receiver has enough money
! one per cent. dividend, which would MAKE
lOl per cent. IN oil. On tho new account The
asst report shows o decrease in the cash as
,ets. while the securities and real estate re.
main unbalanced: The rsesiyero,ss os receipts on
,xuenses for the quarter were S1.57h52.. BE.
.ween October and January tho cash on hand
was reduced by, y,sxpenses and the = payment rS nf
4 1887. Still Receiver Wilkinson cherishs.
he hope that Chesapeake RDd Ohio second |
lin t! psy the dspositors OF the old account
heir dNey In full.