New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-10-08
DEPOSITORS TO BE PAID IN FUBh
A PARTIAL REPORT ON THE TRADEsMESe
NATIONAL BANK.

NATIONAL BANK.
Washington, Oct In a report received 'o'uA,
by Controller Dawes the examiner IN cnarse -
the failed Tradesmens National Bank Ne"-f0'-
he saws that from the partial examination 80 IA
made he thinks there ia no doubt that depos!'O.'
will be paid N full. Loans and investments ~
Wool Exchange stock and loans 10 the New. ION
Wool Warehouse" ne says aggregate $1,000"
These matters the report continues consu
tute the weak spot IN the assets, and are AAeS
considerable. though by no means '''s'
loss. The loans appear to nave SeeH Mace =. or
proved by the Board at the outset as gooa Ous'
ness risk lattery with the intention OF saving mo
Macnaughtans. 10 whom the loans were made, from
failure Aside from the paper mentioned, diseoun'
ed paper is largely Of fairly good mercantile enas,
acter, good percentage OF which undouotedy WIZ
be paid
National Bank Examiner Kimball said yests'aa,
that the examination of the Tradesmens Natonn
Banks condition was proving more formMau"
task than had been expected. and that II might 7"
nearly a week yet before he could forward 90
complete report 10 the Controller OF the CuTTe"S,
II IS Nr. Kimballs opinion that the depostors W."
be paid In fu Several other banks. Il is SAID ha''
made offers 10 accept the accounts OF TEa'ss
mems Bank depostors credit the depos.tors VIA
the amounts CT their several deposits ana a'""
them 10 draw checks at once against % 10 " y.
cent OF such amounts. and subsequently asa''''
the balance which shall be disclosed upon '"'
winding up Of the banks affairs. SO IL appears "
be generally understood that the depositoTs WIZ
lose little. II any, OF their money.
An interesting circular letter. written some ''n'
ago by President James Macnaughlan. was mao
public yesterday by one OF the depos!to.s 10 @aSY
II had been sent II IS follows:
Presidents Ofice.
Tradesmens National BanSs
New-Nork August j. Iess
Dear Sir: The Merchants safe Deposy, ,bs WToo
has very fine vault IN the basement OF 'he , "
Exchange Building and we have mace atisssy az.
ments with II so that depostors VII pe "a.
nished a sate-deposit box, 2N5x2i inches He',sT
charge for year. ana II Is our purpose 70 With
this lease long the depositor continues nnrk
us AS one OF our valued depositors IN the Jay AZ.
we take pleasure in Offering 10 YOU ;rse oil..sM
perse one OF these boxes and we would De Is
10 have YOU call and inspect the vault "i.N =,
a particularly fine one ard make q seecuo" ,srss
enough We would be glad 70 try 70 sScoouuJnrxS
you with larger one. JAMES MACNAtuhts an
This offer had in not few cases, IL Is sa' "a
effect opposite from that intended. for some y. -.
deposltors took alarm at IL and speeo'i! .s.s.
ferred their accounts. The regular price 'or 49,.
boxes s.ngly is $ a year. but the bank may Al
secured reduction by arranging for the EenT de.
a large number. There are from l.oW 10 n the
offer were generally accepted. from 49,, 10
a year The Merchants Safe DeposI, .Uf and
said 10 be I'm a sound financiaI coho'''0"
lie doing a profitable business
~------------
Blissfu Vision. Bobby has been worr!i's y"
have you move TO New-Nork ~, ,onder
What does he know about New ork ii,s are rot
MA