New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-12
investment was one Of $4,000 in the stock and
ponds OF the Bavarian Brewing Company
AMOUNT OF DEPOSITS


AMOUNT OF DEPOSITS.
The total number of depostors In the bank
Is 1000. with T.112,565 "a deposited During
the months of June and July there was de-
posted about S2000O0 but more than this
amount was withdrawn There was. Mr.. Kill
burn said, $4,000 in quick assets withdrawn
from investment and placed in second MORTGAGES
on real estate, which could not fail to cripple
the banks ability to meet demands
me Murray Hill Bank was organized in 1878
by Its late president Mr.. Darling and has been
considered strong institution. 1t has had only
one previous setback in its career when about
two years after its organization 1t suspended
restored however
The officers of the bank are: F. T. Hopkins
president; w: d. Bruins, vicepresident Albert
II. Gale, cashier and William c. BRYANT as
sistant cashier The directors are Rufus NJ
Stivers, John Weber James Carney, Bernard
Metzger Ferdinand T. Hopkins. Philip Dieh
Robert n. Ford Charles Heimburg Fred
erick T. Steinway Thomas McManus and WILL
lam y. Bruins
H. c. Fahnestock vice-president Of the First
National Bank, said the closing Of the Murray
Hill Bank was great surlnisc From the way
It's accounts had been running Of late 1t was
supposed that 1t was doing profitable bust
ness. II had made requests whatever Of the
FIRST National for accommodation Its balance
with the First National wa, sufficient to cover
its cearngs for several ordinary days.
NO EFFECT ON STOCKS
The closing Of the bank was utterly without
effect on the stock market The bank did no
business downtown. Among bank officers the
incident increased the prejudice against banks
in the metropolitan district which operate with
small capital The banks stock had been
quoted of late at 40
A great deal regarding the bank was known to
a good many real estate brokers. Some brokers
declare that it was ridiculous to attribute the
banks failure to real estate deals of legiti-
mate kind when mortgages for nearly the full
value Of real estate could be placed. One brok
called up an uptown bank which was sup
posed to be thoroughly versed in Murray Hill
Bank matters and asked the cause of the fall
ure. The answer was. DRY rot
A well-known broker. who was formerly de-
postor in the bank. said: II drew out my
money a few years ago. did not like the man
ner in which William A. Darling was handling
the bank. l had an idea that there was too
much dealing in real estate in a manner which
the head of 4 bank could not safely pursue
The present management has done the best IT
could under the circumstances. have no doubt
but II had inherited too large load TO manage.
Two of the directors of the bank were spoken
of by Wel-infOrmed real estate dealers as being
men of large wealth Thomas McManus, one Of
these was police captain in John kellys day
He retired from the force and became builder
In real estate circles he is reputed TO have con-
siderable wealth He owns two block fronts In
Third ave not far from the Murray Hill Bank
has five or six pieces of property with new
buildings at the southwest corner Of Fifth-ave
and ne-hundred-and- fourteenth-st and owns
property in One-hundred and sixteenth-st. near
Fifth-aVe.
Bernard Metzger. another director Of the bank
is put down s having considerable wealth, made
in the cattle business. He is not the real estate
dealer of that name.
Mr. Kjlburn will now make his report to the
Attorney General who will appoint a receiver