New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-25

This figure is close to the amount OF impairment
shown in the statement The difference may be
due TO slightly different estimates OF value the
pavment of rent, or other expenses The principal
item I'm the shrnkage was the failure of Bullock
e. Wilder, who had secured loans amounting to
sl0j 900 The security which they put up was the
Prescott and Arizona bonds, which are now
worthless
another element of loss from the stock of
the bank about 600 shares of which were held as
collateral. This stock. of course, had shrunk i'm
mensey in value. The real estate consists OF
brick block in Boston. 1t was represented by the
hank officials be worth 1851 81, and this value
WIS put upon il in the July estimate. we nave
taken pains to inquire of real estate dealers IN
Boston as to its value, and we now put 1t at
$4,000 The furniture has hitherto been reckoned
at cost. We have put it down at ABOUT what II
would bring, 5000
Have the loans to President Blaut Deeh rech-
oned as good assets" was asked
yes They were partially secured, and nave
been fully guaranteed" Mr. Preston declined to
say who had guaranteed them He said that they
amounted 10 about $4,000. "A. i. Soulard, one oil
the directors" he said, owes the bank about
$50 600 It Is secured by stock Of the Bridgeport
Development Company, of Alabama, ana or the
Bridgeport Land and Improvement Company OF
Alabama The stock Of the first mentioned Is all
right that of the latter is practically worthless
Mr. Soulard however is regarded as good for the
amount. and his loan is reckoned as collectble
The loan of s. 900 to Lewis Thompson, the cashier
Is also regarded good asset
How about Z. s. Stokes's loans?'
mir. Stokes owes the bank about $4,000. 1t Is
amply secured by Hoffman House bonds. Besides
the Hoffman House has about $4,000 on deposit
He had a loan OF about 5000 1t is secured
Both these loans are estimated as collectible
MIR. Preston has your examination shown any
irregularity In the management or the BANK
Mr.. Preston appeared to be embarrassed AZ this
regular you might say there was irregularity.
Have you found nd that the bank was managed
II should not say that 1t had been managed on
conservative basis" This all Mr.. Preston
would say about this phase Of the banks affairs
have secured loans from the bank?'
Il believe some of them have secured small
loans loans. A. o, ..u .,,u ,o.n.,,
"Oh. thousand dollars or so. 1T was entirely
natural They knew the bank officers well. and
naturally did business with them" Mr. Preston
forth came to put the $4,000 OF State money in
the bank. The deposit personally secured
Mr.. Danforth would have got the States money
anyhow. He merely avoided legal complications III
Withdrawing II as he did.
who gave him warning that the bank was about
to suspend?"
The only statement which Mr.. Blaut made yes
terday that he considered that Mr.. Preston
had 'beared' the banks assets In his statement
more than the estimate of the examiners.
\ meeting of bank officers and stockholders was
held at the office OF Guggenheimer & Cntermeyer
yesterday. but no definite plan for reorganization
was adopted. II said, however. that there was
still hope that the bank woud resume
Mr.: Preston viii go to the BANK again this morn,
receivers He will file n detailed statement with
the State Controller.