The sun., 1894-04-26
MUST GET ANOTHER AGENT.
GARFIELD NATIONAL TO s1oP CLEAR
ING FoR THE HARLEM RIVER BAEK.

The Exau,tutng Cor,nittes or the CiesrtsE
House Not Disposed 20 surrerser Thsir
Powers. =. the state Bsnki-E Depart
msnt woria Liks TO Have Thsn Ne.
The GARFIELD National Bank. at Sixth avenue
and Twenty third street has informally noti-
fed the Harlem River. q state Bank at 2.007
Third avenue. that II cannot continue to act
ss It's Clearing House agent, and the latter
bank has been requested to secure another
agent. The authorities Of the GARFIELD Ma
tlonal have not named any time when the
Harlem River IL TO do this. except that II con-
venient. the Garfield National would like to
have the change made By May I. The Garfield
National according to the announcement res
terday, docs not wish to Inconvenience the
Harlem River. hut II was made clear to the
Harlem River people that the courtesy Of the
Garfield National should not he overstrained.
The Harlem Rivers capital is 100000. and
most Of its loans have been made on real estate
in the upper part OF New York. Robinson Gill
is Its President
Tho foregoing announcement together with
the formal announcement that the Central
National had again become the Clearing
House agent OF the Sherman Bank. brought
out yesterday an interesting state OF affairs
between the examining committee OF the New
York Clearing House Association and State
Banking Superintendent Charles NJ. Preston
and his chief deputy. Mr.. Judson. There is q
conflict between the committee Of the Clearing
House Association and tho State banking De-
pHrtmeept The trouble hs. 4, :. been cen brewing
Dsnosit nearly year ago; The Bank 81 ps.
PS.s Was weak ssrs and tSsp ouisf
every every bank that the Clearing in HOUSE
Committee has examined. the friction and feel
ns Gn aS ss d dfps
terday Mr.. Judson and others said that the
S ISs oR.l ss su snP 0. Sf M
Just how this is to come about Is not known.
the Clearing House Association to redeem It's
.hecEs, IN ust sign a document agreeing to al
it's affairs at any time It thinks proper.
Mr.. Judson and his friends criticised the
sherman Bank. although tho Sherman signed
the customary agreement allowing the COM
mItse to e1smips It's affairs q = at any time The
cause the committee refused to allow II to
clear FOR tho sherman Bank. and they insist
them. then Chsirman Frederick b. Tappen n OF tho
Clearing House Committee explained that
United states National when the commit
decided on their action. and Mr.. Tappen added
@ action. % even VEN II the sherman had ssEe that the
Chemical National be made it's Clearing House
While Mr.. Preston and Mr.. Judson are con-
sidered competent and industrious officials.
mem bers Of the Clearing House Association
said yesterday that they should not criticize
the action Of the Clearing House Committee
They added that ~ the committee had not
looked into the affairs Of the sherman Bank
there was every probability that the bank
would have continued right ahead. and that
eventually the depositors would have suffered
severely.
II was announced that should the Garfield
corning the Harlem River the Clearing House
Committee would not hesitate to examine the
deepite the objections OF the State Banking
Department should they be advanced in this
case.