New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-09
LONG ISLAND BANK CLOSED.
THE HONORABLE END OF AN OLD 1NsTl-
TUITION.
DEposIToRs WILL RECEIVE THE AMOUNT OF
THEIR ACCOUNTS AT THE NASSAU NATIONAL

DEPosITORS WILL RECEIVE THE AMOUNT VI
THEIR ACCOUNTS AT THE NASSAU NATIONAL
pANK-NoT MAKING ENOUGH MONEY
The Long Island Bank Of Brooklyn went out
Of existence as a bank OF deposit at Il O'CLOCK
yesterday. 40,
For some time 1t has been apparent 10 'he
MANAGEMENT of the bank that 1t was not max
ing sufficient money to pay for the risks OF Dust
ness. and that It would be wiser when good
opportunity offered to retire honorably from the
business before any encroachment was maze
upon It's capital. An arrangement TO 90 TINS
was made last week with the Nassau Natlohai
Rank OF Brooklyn. one OF the Oldest and largest
banks in the city.
When the depositor goes TO the Long lsland
Bank on Monday he will be told that his de-
nosit will be paid to him by the Nassau Ma
tional Bank, and that he can no longer ara"
checks upon the bank that he has been dealing
with for so many years The Nassau National
Rank expects that all of the depositors IN the
Long Island Bank will open new accounts WIN
II and continue business as before
Notices to the depostors Of the Long Island
Rank were mailed yesterday They are as fol-
lows
Long Island Bank.
Tho Directors of the Long Island Bank believing
Il TO be for the best interest Of its stockholders that
It's business should be liquidaed. hereby give no
lice that on and after Monday morning next the
10th inst. they will pay all balances due 10 depos'-
Desiring to subject their depositors to the least
possible inconvenience. they have arranged WI, WIN
the Nassau National Bank Of Brooklyn mat tnose
who are disposed may, Immediately after receiv-
ing checks for their balances open accounts with
that bank which may be temporary or permanent
according to the wishes OF the depositors r,o,,,
The Nassau National Bank is in every way amply ,
Seaiers and for some months at least the under
signed will cooperate with that oahh Il" 'e''"'e
them ,.DDr>- rrosid.rt.
JOHN Il. DiTMAs. vice-President
Brooklyn, Aug s, 1896.
The Nassau National Bank
Referring to the notice inclosed . ,,,.
The Nassau National Bank respecttuiy soir,rs
and is prepared to extend 10 them satisfactory
banking service and facilities.
Attention Is invited to the accompanying state
"''''' THOMAS T; BARR President:
WILLIAM A. NASH, Vice President;
ERGAE ~ M sESMAR assstant Cashier
Brooklyn, n. Y, Aug. s, 1896
At the last report of the Long Island Bank they
had a capital Of 100000 and undivided profits OF
about $50 600 Their deposits over 81 100000.
The hank was organized in 1S45. and its present
president is Crowell MADDEN. who has been presl-
dent for many years The directors Of the bank
are as follows John II. Dtmas, James l.. Nor
gan John p. King, Michael Snow, Frederick A.
Van Iderstne. Henry D. Van Orden. Daniel F.
Lewis Crowell MADDEN. William A Read, A
Abraham, Sturgs Coffin. 49,
The depositors of the Long Island BANK VIII
suffer no inconvenience. The deposits will be PAID
AT once and II Is expected that the bank Will be
able to pay its stockholders par for their Stock
and possibly little more.
The officers of the Nassau National Bank are as
follows: Thomas T. Barr president: William A.
Nash vice-presdent; Edgar Mcdonald. CASHIER
John w Seaman. assistant cashier; directors
Alexander NJ White, f. H. K. Lyman, Wililam VI
Jnrraham. John Morton Robert B. Woodward,
William A. Nash. Frank Bailey, Thomas T. barr