New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-13
Or.TSIDE COMMERCIAL BANK
SCENE

,ossivo and It looked at one time as though thef'
you'd he serious trouble. The police were ilhAi'
called in To restore order
,rh rer,o,. cause OF the banks suspension W."
tho overlrayying OF two accounts previous 10 '"r
sil.,cv OF Seth l.. Kecncy. the present head oi
-, ,.,t,,,;,, The mon who were allowed 10 over
1r,v, were Paul e. Greuine. the wel-kn""h r'@'
estate man. and q. L. llassriL OF 80 ., ''''
tooo-avc brooklyn This occurred "h'h
y Hudson Was president oi the Damn "n"
Econev became president hc found th' ''l"'" 80"
,, i,,najred and called confercnc" oil 'he al.
r.ctors They decided to contribute" th''f "''''"''
notes for sIovD each making t'taI "' S'''
y.as Thought that this sum was sufficient |" My
~. hank solvent Mr. Grenincs ovcrirhI'S are ~.
cured hy judgments on his property h'' hA'"'"
had no property and his notes were r'"'"'' ''''
time To time. - p,r
At II O'Clock yesterday morning hAN" y oar
nett one OF the counsel Tor the "'''"' 7"
following statement
"a. tho close 81 banking hours Friiay inc I'M"
81 Ncv-YorK. through which th" 'ommei'i'' Damn
has heretofore transacted it, h"~in'-' VII"
Ncw-York Cleariue House. refused - "'' '.' .'''
Commercial Bank after TO-DAY Ih' "'p'.''
,,. Comucrc,n, Bank have decreased verS larR'Y
- H. lac, mouth This decreaa' ~ ccIo'ls
r,,n other causes a,toriniu" the directors I" Close
the bank this mornns-
"About three Years ago when Mr. K""n"y be
came president. there w.f" lafrr over 'Ii'''' VIM
the previous admin. irt'iuu "i th' f"'i'- w ''
hank had permitted t. boz made Th'-" have hr'n
decreased and the director. OF ~" '"hh "'''''
the lead Of SIR. Ke,n,y mad" good the losses
.si,co Mr. kronDy became president ~" bahA
b.s Ina, considerably Jess than {lNr" Ihr rrs'-
dent and directors have been confident oil t"e"
ability 10 make the hank success. and have been
,-,,c,,oI ONLY hv the unexpected withdrawal
Of deposits There should b. enough TO pay d"
d.positors and shareholders
II WAS learned yesterday that one dcp"ilt'T ma
Withdrawn 10000 u the last few days, am mat
this WAS tn. Immediate cause Of the bank shs-
rcnyion Eauk-Examincr JuIson arrived AT the
hank about II q. r.. and Immediately began an IN
vesfieafion but it Will be- several days bri"r" ne
can make a statement. Of tn" city OF Hr'"kyh
money SesOJ Is Of the General Fund. ana Nls" -
of the Board OF Education Fund is deposited with
this bank
Mr. Barnett said that all the deposcrs would
receive their money. bat expressed some doubt
hat the stockholders would come ont without loss
The capital OF the bank sloS"D. and interest
Al the rate of . per cent was paid on educational
money and ~ per cent on other city money heh-
About $1,000 OF the Kings County FUNDS are de-
nositcd I'm the bank The Bank Of NewYork,
which cleared for the Commercial Bank VIII not he
anected bv the failure The stock of the Com
mercial when MIR Keency became president sold
at 49, and it's financial condition has generally
bceu considered sound Mr.. Grenng and Mr..
Hasscll are In Saratoga. All the directors also
arr, out Of town. They are Seth l.. Keeney, Rufus
Rcsseguic George Macom, James Locke George
Wilson, Gilbert SncdckcT. David W. Binns. John
H. Rowland and Robinson Gill
The last quarterly statement Of the Commercial
Bank, made June l. follows:
pESnr-prES