New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-06
THE RECEIVER TOO SLOW
ANGRY NORTH RIVER BANK DEfoSiloH ''
OVER EIGHTEEN MONTHS SINCE THEY HAVE

OVER IlOlIIEEN MONIiio 'i.'N''
HAD DIVIDEND.
Downtown on the west side OF Broad"ay' "''o'1
tho fruit dealers and commission merchants who 20
business In that part Of the city, thcre i " s
number Of persons who had deposits In 'he No''"
River Rank when that Institution failed on NoV"mo'I
II. 1890 These deposltors are greatly dssauSH,u
al the delay In winding mp the affairs OF 'ne "'''"
and TO a Tribune reporter who talked 10 large "
Der Of them they said the inability TO get tncir "o,'
was causing great hardship In scores oil cases. '''
Como instances positive ruin. The bank was reshru'u
nv tho fruit and commission trade as one OIL INV
soundest financial Institutions In the city, ana "heh 1t
foil with go 800 900 OF deposits lis books, IL ciush
hundreds or these tradesmcn. Many OF the"'' 'i''.
dealers who did business In Easements "ere ,o
to the wall at Others managed 10 s''"et ''
bopnC from the first reports OF the BANKS conu''',
% be able to continue thdr business pnt ho" n"u
,,v must 20 under after ALL At least one large hrm
Mills g. Everett fruit dealers. lays It's 1aHure LII o
ness TO inability to get the firms money out vi 'ie
,ort vurhcress cases OF widows and poor people
suffering great hardshlps from the delay In get'hs
hack their money we're related 20 the reporter. an
the dcposors spoken to agreed IN saying oat ''.'
could get no satisfactory Information roNn 'ne ~
cciver Frnncls Higgins or from ms lawyers. hc
cvor,s fees and lawyers fees believed TO be at least
a25 900 n year. eating up the deP'ai,ofS "'Vm,'
vhuo tbev are Kept out, the universal cry Inc
roco,var mid dividend OF 30 per cent In FEBRUARY
1901 and another dividend Of 90 per cent IN 'niy'
1s0l making 80 per cent IN all since 'heh' c'su'"
months nothing as TO any more dividends could be
learned though when the bank failed they were lea 10
oxpect from IS to 100 cents on the dollar
,morr the dcpositors who are waiting for their
,,,nov ore Edward Ruhlman. OF NO ""l Wash'ns'o'-
:, nrcsidcnt OF the Ncw-York Fruit Exchange. VINO
no, s,1 ooo I'm the hank: Mills & Everett. no. 100
orronst who had $4,000 on deposit; J.. j. keNy'
- No o41 Washlncton-St.. who had sA,ooo III hl'
bank: Cavacnaro < Cunco. Of No Q" Murray-s'' VINO
had over 2l2 600 in The bank: Furman ihec, ~ I've
Warron-,t r. 200: william Power. No III "hSh"e
,on.st $1,000 and Dudley. Cipp a DE, J'hh 'lr""s
Joshua Cromwell. Peter Wcch. Fope " hHe' "leS a
nm. sullivan < Lowcry Knapp * Van N'strand =.
II. Philips 4 sons William Hinton ana brent "V'u
Doucloss 4 Co. were ruined by the failure.
1T * imnossllle 10 cxacgcrate the Intensity 81
,bo feeling among the dcposit)rs over THIS delay II
cctjnc n di,ldcnd some prospect o' oNl"'"u'
soil Isaac Tuck editor OF 9TH" Fruit Trad" journal
some az the deposit r, said they thought that there
had not been sufficient prcmptncNs In securing INV
hanks claims against Paige Carey Il CO.. tn" nan'
duct contractors, through whoc operations inc D"h"
,vos ruIn.d Others said that II justice was done
rropor e,rp, old long AGO have been taken q holi
ihc wealthy director. Il tho bank resp'n'i'e. They
wcr, amply able 70 make good th" losses TO the por
dcpoStors.
Mr. Higgins when secn al his office. 40. - Cedar
at said lat thcro tct cas-" Involving me b'n"
uo,i,itv 10 demo fors who had paid IN money after
rs they ccclarcl. the banks officers know IL was IN
solvent. r +, wa one cause Of II" Gc'ay Another
, ,ret the binl Wa waiting for Mr.. Huntington. u
Cleveland 10 ct Vol enough q leave Vienna ana ~
,i,r,, ~ America Mr. lluntlr con's friend mainiAnci
that nj. Signature. n the 10 L. Of several hundred
thousand dollar. ~ In.s' g Carcy's note. Hr'd b'
The lank were forged The hank m"! iain' That th'y
are genuine and hope, 10 make VT. Huntington pay