New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-05-08
THEDEPOSITORS NOT ALARMED
THEY KNOW TIE BANK OF HARLEM TO 81
SOUND.
Curiosity As TO WHY THE STATE BANKING DE

CURIOSITY As TO WHY THE STATE BANKlN" DE-
p,pTvrvT mn NOT FIND oUT THE LOSSES.
There was no excitement at the Bank Of Harlem
Yesterday I'm consequence of the exposures c"hcermh'
fine method, OF II, former president Charles H. flhN'
ham, IT, who was arrested on Friday under an IN
dctmcnt found by the Grand jury ana
taken 10 the Tomb,. The proceedings rs pup
u-hcd were accompanied with such Conclusive e''-
dcncc Of the restored eoundness of the bank ana
the protection that had been extended u IL e'h'
none Of the deposl'ors were at all alarmed Iherc
are more thnn ZOO dcposltors In the bank. ana cx-
ccpt for the emphatic assurances OF PRESIDENT "i'a'
H. It John of the Mercantile National BANK uhc's''
ness might have resulted among them. There was
not the slightest anxiety banking circles. as Mr.
II John had explained the situation Iu'iy " "''
Cleaning House Committee.
Ranking Superintendent Charles VI. Preston VIII
be- In fine city tomorrow 10 attend TO some iormaitlcs
connected with the consolidation Of the Bank OF iar
lem and the Hamilton Bank bahk Examiner
Lawrence !. Cahill culd not he found GOWN
town There l. criticism Of the Solc
department because OF its failure To detect the
actual condition Of the BANK oi Hdr'c'" anu " ~
action sooner
There wa, much reluctance among the men con
ccrncd 10 peak Of the dat, when The department mau"
IL, examination bat II Is asserted by some persons WHO
should De well Informed that the department u'u "o'
tahr any steps In the matter until tho Ect u inc
ia" capital laI become hlipNii' ~ 49,
partly To- the bankers NO stepped In 90 save the ban"
from DANGER Perhaps light can be- cast upon inns
MONT by Mr. Preston when he gets here IL / 'o'u-
cred curious Judged by the private comments oi some
bankers that the Irregularities OF tn" former PieSh'
we're not detected and cSIOred In tie course OF former
examination The bank examiners oil the 'ti'e uc-
partmcnt are suppo, Il to De better able To hoc IT
re1ilartlc, and to suspect wrongdong than We're inc
directors IN the Bank of Harlem. who were cngas'i III
other b nc,s and had no p'Iicnce In banking affairs
The question WI, raised yesterday ~ To whether
any attempt would be- made by the Bank oil iarIfhl
officer, TO take proceeding, against some OF the persons
with whom Puhlam had transactions through "m'h
the institution suffered loss. several National DaiN
men laid Yesterday that II the facts were
a. alleged by the Harlem people. there would
Ice no doubt under tile National Banking act OF the
possibility Of holding others than Pnhham respol-
-lbl. for his operations. The National bahMhH III"
/, extremely explicit on all points Is regards ac-
ccssOrirs crimes Of bank officers. but tue STATE
Law IS much looscr and 1t may be- deemed impossible
locally 10 hold any one else than Pnklam respon-
,lblc unless w. ". Van yoorhis formerly acting
nrc,ldont who is also charged with misdeedS.
sbould Mace himself where he could be reached BY
legal powers.
Pinhmm. who remained at the Tombs because Of
his Inability to secure bail, talked freely yesterday nc
spcc,inp nj, arrest THE charges brought against
me-" he said in the memorandum attached TO, TO ahe
indictment, are absurd without any accomplishing eA
PLANTATION. confident that can cAPlun ~, ~. ny
transactions f. the satisfaction OF any laF-iniiluou
man. In regard Ia the lic,cr notes the course 'oon
was TIE best 10 save money Tor inc baiih' ,,.
Moreover ] was the only one of No.d, crepors
who was able 10 eccurc anything, shortly after re
coivrd my security nrcslcr died, utterly HlSoN"h'
Every transaction had was recorded In the books OF
The bank by Mr. Trottcr. the cashier who h;i charge
Of The discount and record books. Us regard, the loan
made 10 Mr. Van VOorhIs bcfor, he became acting
pr,,sIdrnt every Transaction with him or his frm was
rirI man and one Of the strongest men In the board
OF what he did after left the bank Of course know
nothing. - J..
In the last two years | have paid lots Of money to
the bank and had intended to wipe out AL the indebted
ness In time II Is fault Of mine mat the 81
Nicholas-avc. property went down In value"
Tc officials Of the Hamilton Bank ana OF tnc bank
OF IlArcm have made all the necessary arrangements
for moving the Bank Of Harlem into the Offices Of the
Hamilton Eank on TUESDAY morning.