New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-12

THE KINGS COUNTY TRUST COMPANY 10 HAVE
THE FORMER HOME OF THE LONG ISLAND
SAVINGS INSTITUTION.
,rho rurcboso of the old Long Island savings Bank
nv .ho Kings County Trust Company insures the re-
turn Of the building to its former uses oi'si'an'
constructed for banking purposes II mas peeh u'u "
other WAYS ever since the closing OF the doo'S Vi w
bank which built IT. The structure was espeoia''s
h,ilt for convenience and security for the Dahh WIN"
occupied H. and the burglar and freprooi vault 'o'
10000 The Long Island savings lh''i'uhon ""' '''
only one OF the banks for savings In the Guy WINCH
over had to close its doors even temporarily "i, ~
failure WAS unioue I'm that the dcpOsors were paid III
full The bank incorporated IN looo anu ''e"
business at Fulton and Adams sts. hu''pcr y.
wealthy men were Interested In II ana 'he ''o'' "
trustees each deposited 300 when 1t was opeh'u i'
business In the first year over S'Jo,ooo was NV
po,ited. In 1869 piece OF property ut f
and what was then Bocrum Pmce' anu NV =.
know rs Court square, 81 feet Ill WIFI" ny ~ "
oeph was purchased for 100000 on tiis Il sun
stanal iron and stone structure. four stories III ',e
with basement end cellar. was erected AT coe' '"
,,o,, 1000 oOO The first floor devoted 10
banking purposes and the other floors were occuPen ~
Offices The bank removed to the ne" ou'i"'''s
In 1870 and conducted SUCCESSFUL CUISINES wv
1877 when OWNS to the decline III foa N
c.uscd by the general depression III values "l''t Wv
panic OF 1873 the value OF the property OF 'ne D''N
was placed By bank examiners at @lOooo'' anu 'A''
declared the bank insolvcnt.
suir was brought to wind up it, business anu
-cc.,ver was appointed. " Tho dcpostor, received II
prop stion 10 take 20 per cent mt once or 10 W P''
in full AT half yearly intervals for two years Lie u'
uoIts amounted 70 So51 ,i7o. DepoSi'o'S W NV
amount Of sia0OOO agreed to take 20 per cent
but 10 large u proportion was WHILE !" ''''o ''
trt.te,s wind up the affairs Of Tie DihA "s '"'S
chose that the courts permitted them TO take charge
~ vpr
business was wound up and by l0o3 AL iiaplii" VIZ
uchorred I'm full 1t 1, said that there Is no o'hcr
avinr bank with parallel record Of failure ana SUI
ncient assets TO pay of all depo~i'orS. in' jam
building was sid at auction for so7ooo' inc p"'.
,Aasers Is ing T.. e. Webster Alexander NS'i' AL"
Cornelius siryLer.
.Incc lssO the banking room has been occupied by
IN. Fulton Municipal Gas Company, "j"h wa
,rconlzcd I'm that year The upper floors arr nscd rs
ccos nv the Kings County Elevated RAILWAY Company
md tho Urooklyn and Brighton Beach Railroad 'oih-
panv For the convenience Of the elevated riilr'"'
company there IS IA passageway into the CuiiohS HUM
the elevated station in front OF II. "ehei'i '""'o
yourdan is AT the lead of the three corporations DC
cupyng the building. ~,
The Kings County Trust Company pays the sum Vi
sool 500 for the building and will occupy the bank
mo ram Inv MAY l. II +, probable that the Fulton
vun,cipol Ga, Company will remove to the present
ounrtcr- Of the Trust Company, In the ArDuckie Buu
Ing which are too small for the business oil 'e iruS
Company , u,,,o moro
than "A sore Of years ago there nave o'',n "a a
business changes In lis neighborhood' ~ va, r
al ho drvrooSs hon -, wers below the City Hall no"
thrv are practically all above IT. Then Il NUMBER OF
banks were near Fulton Ferry and now az are III w
vic,nv 81 III, CIV Hall The Office buildings OF the
city we're then all small and there were lew 81 'h'nl
Now there are numerous lofty buildings Inc Guy
has grown enormously in all ways To- lpilauon nis
more than doubled and tho valuc Of taxable propery
Ina, ncrca 800 100000 to S4-;5, ~. ~ i
King, comfy Trust Company has 100000 capita
and deposits Of S3.ls3,417. II was organized 'hfcc