The evening world., 1894-05-08
ALL owe The BANK.
Harlan Rivers Directors Are Its
Largest Debtors.
Call Loans Against Them Ranging
from $1,000 to $4,000.
s.us Of the Collateral Said to Be
Absolutely Worthless.

sore rather startling developments in
a1airs of the Harlem River Bank
',I, It is said. come out when Receiver
s,nre,s finishes his examination of the
banks books.
considerable comment has been
.ouaed by the extraordinary efforts
,nade by the directors n stockholders
~ the Harlem River Bank to get the
bank out Of the hands or Receiver sick
tn that position, wind up it's affairs
themselves. They have held meetings,
ami last night appointed a committee,
headed by the President, to petition the
rourt to remove the present receiver
land make Cashier Hinckley permanent
hfeceiver.
IL as known that the President and di-
rectors have demand loans in the bank
ranging from $1,000 to. $4,000, and that
they are also makers of and indorsers on
n large amount of time and call paper
held BY the bank. The business house
in which one of the directors is a part
ner has call loans in the bank for more
than Sl2,OU.
Xii these and a great many other facts
regarding the bank were learned from
some Of the officials and employees, who
are d~isgrYntled AVER the way things are
ffold by these persons, II true, puts the
Affairs Of the bank in a different light
from what they have heretofore been re-
They allege that the following is a
correct statement Of the Indebtedness
Of the President and directors of the
Harlem River Bank in the shape of
| call loans:
1 Robinson Gill. President. ............... $4,000
James ]. Blackman. 800
II nudelman.. 1000
| George Herold. 5000
Albeit A. 6. 800
c. r. Schane. 5000
Total $50. 500
Caster Hinckley, who want to be
made permanent receiver also has a
amount of which could not be learned.
The above are all call loans. and 1t
was said that Receiver David B; Sickels
called all this paper on May 4. Mr.. Sick
els, when seen to-day, was surprised to
hear that the statement of the indebted
ness Of the directors was known. but
would not deny it's correctness. He did
not care to talk about the affair of the
bank, but admitted that he had sent out
a call for all the loans made to the Off
Gals Of the bank, and that up to this
morning he has not received a Jingle
Mr.. Sickels think there is something
in connection with some of the loans to
directors that Will bear more eXptana-
lateral paper of former directors was
found, and when they. were ordered to
pay up they said that the notice was all
"IOlk tltS o"Su III ~ tiS hiih
The offered no further explanation of
their refusal to pay what they apparent
ly owe the bank. The receiver Is deter
mined to get at the bottom of the mys-
terry.
AS an illustration of the character of
some of the collateral held on loans made
by the bank, 1t is stated that for a loan
OF over 81 400 the collateral consists only
of the assignment OF a claim for dam
ages against the Third Avenue Railroad
Company. Another piece of demand
| paper, due since 1890 for several thou
sand dollars. has for collateral two
checks, dated in June, 1890. on which
Spayment was stopped.
Other collateral consists Of real estate
3capable only OF slow r~ealization; stocks
In trade on paintings n tradesmen's
Endorsements.
It is alleged by some of the ~depositors
that the real reason of the directors
for wishing to wind up the banks af-
fairs themselves Is that they can alloy
themselves more time to TAX care of
their obligations than a disinterested
receiver will give them.
The statement Of Receiver Sickels,
that he intends to wind up the bank In
as short a time as possible and with
the least possible expense to all con.
cerned, 10 not pleasing to those who
had call loans to meet.