New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-12
MJTRRAY HILL BANK CLOSED
,-NWIsE INVESTMENTS AND SILVER
AGITATION THE CAUSES.

,,r SUSPENSION ORDERED BY THE STATE BANK
ING SUPERINTENDENT AFTER coNsULTA-
TON WITH THE DIRECTORS.
Tho Murray Hill Bank. State institution
,.,e business at No. 764 Third-ave.. was closed
s.,srday by order of the Superintendent of
,.rr,nc F. D. Kilburn The president of the
NIX T. T Hopkins, said that the closing was
's,asv due TO the silver agitation. and should
,sh a severe object lesson to its depositors,
,o are nearly all among the laboring classes.
a., tilburn ordered the closing because sthe
tie reserve had fallen from the 10 per cent
= ,,s liabilities as required by law. TO IL per
-, He said however, that he felt certain
49,, the depositors would be paid In full when
~ hanks affairs were cleared up He issued
the following statement:
have closed the Murray Hin Bank because
.l,Sb IL in an unsafe condition have taken .i,s
action are Committee and the Board of Directors
IN M trouble with the bank 50 far as nave pen
abe 10 ,.b which 10 do business. and no way OF
mV .ne II great many OF the assets are Ie ppih
sngs by real estate and other securities which
snl' 10 realized on without great sacrifice at pres
is my opinion that the depositors w be pau
= M" hecn' IN my opinion conservativey man
srsi but the fact that i had accumms'ed sHGh
large Sn osi.son as above stated. where 1t has
N u md canno; get sufficient ready money 10 con-
'i1us meeting with the Board of Directors this
and @ Of e tSf% ana sna' put 'nsf into ~0 the
1a.se - The bank would allow them TO continue
torra this Impossible ana o sneio me, me-
,o ~ affairs | deemed 1t advisable 70 close me
fsnE A; once. The deposits amount 10 ABOUT si'i"'
nj ,o,or, On the annual examination OF the
~. tho State Bank Examiner. made on June
,,a II vas only prepared for Mr. Kilburn in
.,o,.ar mart Of July. Mr.. Kilburn saw that the
s,.,rs ~ the bank were not they should be.
-. 20 the bank about d week ago. and be-
- ,rves,igation If its business. For week he
,,h President Hopkins and the directors has
,, irving TO nurse the banks resources. Find
-, ,,s Of no avail and seeing no way out OF the
s,acult,es into which the institution had gotten
,,ser he ordered it closed. This action ne says
10 took 10 prevent its utter collapse
PROPOSITION FOR A LOAN REFUSED.
IN Monday. with President Hopkins he met
two members of the Clearing House Committee
President Henry W. Cannon. of the Chase Ma
,,oraI Bank. and President George G. Williams
- ,be Chemical National Bank. and the PROPOSE
,,o, was made 10 them that they loan the Mur-
ov IJ,l Bank a sufficient amount to pull IL
,brourh This the two bank presidents SAID
would REQUIRE 100000. and they refused TO DO H.
having no faith in the banks ability to clear IT.
self
u = said that the First National Bank the
CLEARING House agent for the Murray HILL onereo
a. bs,r the bank yesterday morning, but the
offr Zane too late
meeting of the Board of Directors of the
hank was held yesterday morning, al which
Mr. Kilburn proposed that the nine men present
advance $4,000 apiece toward helping the pahK
ord said that this would doubtless relieve the
embarrassment OF the nine men, only TWO re-
snonded 10 this proposition, President HOPKINS
with the offer of $4,000. and Bernard Metzger
with 81 600 Robert y. Ford said he would nave
% consult his business partner oe1ore Hlahile
any promise. and Thomas McManus SAID ne
might be able to raise $4,000, but couldn't prom
,se il The other directors either couidnt OF
wouldn't respond. The scheme fell through ana
unanimous vote was then cast for closing the
hank. This was done at 10:11 o'clock and the
following notice was pasted upon the doors:
This bank is closed pending an investlgatoh
Of the condition of its affairs
ASSETS AND LIABILITIES.
statement Of the banks assets and Liabilities
WAS given out by Mr.. Kilburn yesterday morn
ing. as follows: