New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-10-27
A NEW COMMITTEE AT WORK.
STOCKHOLDERS OF THE MADISON SQUARE
BANK WILL TRY TO PAY THE DEBTS
CLASH BETWEEN THEM AND THE DIRECTORS
EXPECTATIONS THAT TIE RECEIVERS
WILL SOON IE MADE PERMANENT-


WILL SOON BE MADE PERMANENT.
There was a lively meeting OF the stockholders Of
the Madison Square Bank at the Office Of Edward
Lauterbach the attorney for the stockholders
Committee of Seven. Yesterday afternoon. About
twenty-five of the stockholders attended 1t. and
they not in exceedingly pleasant humor.
The meeting started with an objection from some
Of the stockholders TO the presence of the directors
but the directors insisted their right. stock
holders, to be there. There practically two
meetings a result of the objections OF the stock
holders-the directors In room and the stock
holders in another. The Committee OF Seven pre-
scented report Of the efforts TO re-establish the
bank and asked to be discharged on account Of
the attacks made upon some of them. The report
was accepted, and the request to be discharged
from further service a committee on reorganiza-
ton granted.
Then new committee was appointed This COM
mittee consists of stockholders only. r. Stafford.
the proprietor of the hotel at No. l.252 Broadway
schneider. Henry comstoSk. Louis schwarz and .o-
seph L. puttenwieser. The members Of this com com,
the interests Of the stockholders. The depostors
were not mentioned James D Ledry: one oil IN, tne
s sSShA'as'' and "F"''' Of the ''' GO SY"' a,
rhe old commttee had PLEDGES to ,b he smon
r. T. Mcdonald subscribed $4,000. Fredt rick thl-
sioooc, hao been subscribed only $4,000 more MAS
needed TO put the bank on its ieet asdui. \ ne
n msf''" @as al ' raise ? he "a
mann. Mr. Mcdonald and | agreed TO put IN $-1V5
each to make this deficit, and We were Planning
to raise the other $4,000 Yhen the arrests We're
made The arrests hewev,r, VIII not interfere
with our efforts to pay off the Indebtedness oil the
bank. 49,
II was learned yssterday>tha the new committee
would oppose any sale OF the curities OF the panh
at auction at the present time on the ground mat
they are worth considerably more than can be Cd
tanned for them in the present state or ailalrs Inc
new comrrittee will not oppose having ne tempo
rary receivers made permanent. but VIII ala ue
receivers in every way In STRENGTHENING out matters
Miles NJ. OBrien. enc of the receivers OF the
Madison Square Bank, said yesterday
j have besn informed by the Attorney-General
that he has already taken steps toward having the
temporary receivers Of the bank made permanent.
we shall advertise for all claims TO be put In. and
snail proceed Immediately 10 the work Of settling the
affairs Of the bank Meanwhile. there IS plenty 20
DO in the way OF investigation. We shall probably
have something more to say about the banks con
dition In few days. l am informed that the At
will proceed as rapidly as possible
10 have the charter of the bank dissolved.
Assistant District-Atterney Davis. whom Dis-
trict- Attorney Nicoll assigned to the examination
Of the affairs of the Madison Square Bank. had
a long conference with Samuel Intermyer. counsel
for the receivers. yesterday. Mr. Gntermyer went
over the history OF the bank from the beginnine
To-day he will bring the books of the bank 10
Mr.. Daviss Office. Mr.. Lauterhach also called on
the Assistant Dstrict-Attorney. Mr.. Davis said
late in the afternoon that he was not yet in
position to know whether any further arrests
would be made or not