The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-04-21
SHERMAN BANK KEPT OPEN.
DEPosTroRs WEI BE Pam IN FULL,
THE BANK EIIMINER sATS

II. Clearing House Assut, the C.-tr-i Me-
tionsi. Rsfu-es 90 Act for n Further
Was Losdsd 10 with Bsd Paper ss
Its Stsrt-Ltau, dalton Not Improbasie.
Shortly after 3 O'Clock yesterday afternoon
all OF the banks In the New York Clearing
House Association received formal notice that
the Central National Bank. at 800 Broadway.
would not after this morning act a. the Clear
ing House agent for the Sherman Bank. q
State bank at S74 Broadway. The notice was
signed by Charles s. Young. cashier OF the
Central National. was dated Thursday. and
said:
THIS bank will cease TO redeem cheeks aud drafts
dravn on or made payable At the sherman Bsnt II
this city after the elearinss Of saturday morning
April al
Just why the notice was dated Thursday and
served late Friday afternoon was explained By
one familiar with the situation when he said
that the sherman people confidently hoped
that the Clearing House Committee would
grant their request OF the DAY before to allow
make The nted States Ssonsl their cis s
Ing house agent. i ,P the sT9SmnsStse
DAY pleadins with Presideh 1t William I. strong
Of the Central National to continue TO act as
tors it was decided to send out the notices de-
ellning to act after this morning.
AlbUOukn ln8 Dduk - WlluOut n
Clearing House agent 1t does not follow that
the bank will be forced into Liquidation. 1t
il is stated by those who have examined the
banks affairs that the liquidation of the bank
i but question q a short time and While Us
stockholders will sufIer loss.
The bank was. organized IN 1892 with q
Of 100000. It's iirst President was j.. Il sat.
terlee.. lie was succeeded in 1888 by Charles
Eugene See =. Howell When hcwsli was eected
President Dr. James Il; Parker. Tresideht OF
t Ws. On n'e 81 Ss 'e detS snG resigned .ChS
with several other directors At the
same tine the United st ate SN"tion,
Banks Clearing House agent since its orRsni.
cation. ceased to clear for it. and the Central
month ago Howell resigned the Presidency OF
the sherman BANK, He served without salary,
afrord 70 ray him. Louis c. Fuller was elected
in his place. ON Wednesday DR.. Parker was re-
Il was said at tho United States National
yesterday that DR.. Parker had gone West for
ss and ~ Tx fS s Of The
follows:
William Z; Arksl Even MsTn,yr.
Gsorse G Flint Henry D Northron
george =. {sSSu.. B.nia%in E Van D.rv..s.
The building at S74. Broadway is owned By
Director Mcintyre. The following 10 copy OF
the banks last state ment, dated March i. 1894:
RESOURCES.
tor. -. .:......... ...:...'. s47sl41 -
maksf. ................. 24s7o so
Overdrsfts. AZ per sehrdus ............. l,57t s3
Due from trust companies.
state and National banks. $1,000.
as per schedule ..,........... tSt,p45 %
Due from private bank ers and
~ st2s5 20
s ss:St. ana sGns sSSu Per 7 e
note. Of SsiOa.i Ssas:.................. 1aee7 90
Cash items. VIZ:
Bils and checks for next
DAYS Exchanges. ........... t2p. las -
Other items carried as cash.
Is per &C hsduls ............. lo5. 80
''''''''''''' - eclss Il
Current ext enses............... s5g2t 81
100 ),
Furnlturs and fixtures and
safes 2l,ZNl % l2b1 %
se6a22t IS
capt,, stock paid in in cA.n 5000 600 90
suipius fund ................. 5OoUo 90
undivided profits viz
discount. ,s.-........s........ %
Other proofs. 90 81
Due depositors as follows. viz:
Deposit subject to check. s4oi. SIS 05
posit . '''-',,.,s. .o7 ~
Certified checks...... 80. 6.Ss2 10
ins...........,.....,....'..' 2.:7s 81