The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-08-10
$25o,00O THAT ISN'T TIED UP.
STATE TREASURER DANF0RTH GOT 1T
OUT JUST ~ TIME.

observation-disclosures Examiner hudson Think,
Receiver win Probably Isc Appointed
state Treasurer Elliott Dantorth was In towr
Oh Tuesday afternoon and heard that tho Mad
iscn Square Bank was about to suspend. liz
hurried to the Grand Central station ant
caught u train for Albany Ho went to hi,
Office, drew UP checks for the S25O.00O O
state money which was deposited in the
bank. and got train back to Now
York. arriving before banking hours
ile deposited the checks at 10 o'clock
md thoy wont through tho Clearing House
The st. Nicholas Bank. which had refused tc
net lorgcr as agent for tho Madison Square
Bank. was obliged to act until last night. and
had 10 make thcm good. Tho st. Nicholas had
a-p> enty of cash belonging to tho Madison
Square. having obtained 100000 from the
ha nix OH Tuesday afternoon to protect itself
The Madison Square Bank did not open its
doors yesterday. and Superintendent Preston
s,f the state Banking Department. through his
representative State Bank Examiner Judson.
took official charge OF tho institution. and an
examination into Its affairs is now being made.
An hour before tho usual time for opening
the bank from ono to two hundred derositors
gathered on the sidewalk at the Broadway on
trance. Many women were in the crowd.
They were altogether different from tho OK
savings banks last week and told nbs to get
money. These women seemed to think It was
very jolly to have their money tied up
in II bank Just like man. They Gos-
siped and joked with ono other about
how they would manage to get along.
and how 1t would be n real saving to have
tho money whore it was because then they
couldn't spend 1t. There were one or two BUSH
ness women In the crowd who didn't take ex-
nctly that view. One was Fifth avenue dress
maker. She said to tho reporters that all OF
her money except couple OF hundred dollars
was in the bank.
Only yesterday morning" she said. made
a deposit. Of course need the money and it
was deposited there only for convenience. but
/ can manage possibly to Get along without it.
The thing | am sorry about is that the men in
the bank We're not gentlemen enough to let
me know about tho banks affairs SO might
have protec bed myself in some way"
"Confou I'd it," said a gray-headed man. I
nearly died Of heart disease yesterday rushing
down here to get my money in. got here at two
minutes before o'clock. and deposited thou
sand dollars n thousand dollars. sir. and two
minut IS after couldn't have got it out with q
crow gar and haven't got it out yet"
broadway tailor. whose shop is not far
irort the bank, followed. keep two accounts
ara a personal account. came in here yes
t'Eday with -. 800. all cash but $50 in checks.
msg foqs 1T fsnt OF it. and it was
indicted TOR e, that then there isn't any law in
That's nothing" said man with an Irish
Who run this bank .s S St SRis deposto oTs
%na Of the hank was
4djectives N cant to be. emphatc.l We'll. as
gns saginG When iesnCs
WlfeS' birthday was coming on and /
was going to oPsn bank account
II and the teepp S.rs
The paying teller, acted for him and took my
money snnnsyo saying as he did SO: We'll I'm glad
Re was ei "a to get my s5o0. That was the last
"Perhaps he didn't mean that tho bank
needed I.h your .s money" said another.
didn't Maybe that new ' Way to e Pass the he
:, Besides these men and women who told sto-
he wanted his money to 60 to Monmouth and
one Of them said that Doc O'Brien was willing
10 sell hi5 caiW aEaHst tho bank for IS cents
Ground Harry Goodsen e the SON Of fsaae
Goodstein, the coal man announced to the
people Deop in waiting that his father was per
to guarantee ali depositors Then the ianitor
s us a ha s"d with and Of woa hS
cents, on the dollar. A little later John H.
i;Sague; offered oG cents on the dollar Tho
f Her c,o UI thsse men reasspret every9ody and
varied from six to twenty all day. Among tho
Ga. aep, wh2 had money 10 The bank was John
the bank should open its doors he would not
withdraw his deposits.
:, The officers Of the bank and some Of tho
nj BATE, St,t.. u
Examiner hudson was already there They
we're busy then until 3 O'Clock. All efforts by
mlnicnton from resdsns 1 BAIT were fruit fruit
less: bIt MaX liirschteld. the opera manager.
G tsId hin rs he was c"ming out. Mr. Hirseh
that President ,Blaut said to him: ' '''0'''N
won 80, the bank wont 2nen to morrow No. ir
time Within six wceFs. mr. Mr. q }irsch sH
wantcd 81. ~ oadly, and was willing to sell
o It mr. - SSn' who s th9
ne had already bought $1,000 worth of ne
e eSh b anI ~ w2pl la by any more at pres
.nilrrs 10 bay were not genuine. and that
,hey had Leen made to aliay the fears OF the
Declared that they had done large business.
n tn a lnat tney would be on hand ut O'clock
on ON err Of tho bank and the stockholders met
CONN CONN town to-day 10 see i enough money
But tho drafts tnat cam" in on Tho bank were
SO heavy that th"g found it was impossible ut
thr moment i;o.wcrn $4,000 and SJUUOUO |
WAS needed Tic drafts amounted To- aIout
Sjoo,';Uh The hank has about 500 900 in
nctosiif. Counted in its assets are many moor
Securities mat wers le.aries from the old
manascMeni Of W ". Crydcr. the for
Ter president. Thor" Is much oyor-
dus ih9e. %hich is entirely unsecUre1
Aho'her and serious cause of tho iinnairma,t
81 the bank capita! is the recent d"preciatinn
~ stocks and bonds and securities 81 MI
kinds. and commercial .Iaper That had mean e
discounted by the tank! '''N
, Mr; Judson said INDIRECTLY TINT his faith &,
INC panSR resnmirE buGmcss VIA, MOI vary
btfonS aau that no was % tao opinion TIM !,
receive: would bs appointed and its nfi,irN
wound IN: Tho S!IJO.uOJ OF deposits il" MI i
Gas MI the money of indi,idual dntmsit1rs'
~" ; ate did EHrv a@JOUGo there nut ic hal
g0l i out in time. - "''
hen Nh Judson loft the bank Yesterday
",eFG"On tie following notice was posted: '
ihhahe having yplun taTiiy closed ITS DOORS by mat
,lH no ice 90 that Affect, ms department /, XXX ~
IVshes,iph ~ ~ Affairs, and examination I.n -
condition - nov beng iunde. '' ''S
'HAG:|s N. !EgsrpS. Superintendent Of banks
,ihr last report Of the bank. filed at tho Ollie,
81 tHo state BANKING department showed
ma Its condition ON June was as follows:
LIABILITIES.
Capital. x-oooo,
Mo-. " 100000