New-York tribune., 1898-11-12
CONDITION or THE 7RADESutNS BANh
CONTROLLER DAWEs's COMMITTEE NEr'i'I >
THAT IT CAN PAY DEPosIToRs


Wasb,nston. Nov. 1.-THE following is the report
Of the committee appointed by the 'oh'o'''' ~
tho Currency 10 examine into the affairs OF the
Tradesmens National Bank Of New-Nork:
New York November o 1s9S
The Hon. Charles g. Dawes Co"'ro"'r o' '"e
Referring your n e'lsr Of 9eGe'5 Saio6s Il s
Rank and requesting us to report upon the feast
hjlitv Of a plan for voluntary liquidation sup'ili,
ted TO You by commitdee aPG,r (or, vo'i tha, we
have verified the statements ana estlmai"S @m',ne @
IN eyaminafion Of the assets and liabilities OF the
bank with the object OF asco'talnhE II '"'.,. - .oS -
would enable liquidation commitlce 10 CARR 10
"A successful conclusion tho plan formulated "moh
IS a. follows: . -, !,
First-To obtain signatures TO agreements o' de.
positors holding claims ageregailnG SbfV"'" os
which demand for payment Will be deferr'' lot
period not exceeding four months -. - l.
Second-Al other deposi,ors I" be paid on de-
''rle The drst Of these conditions has been met Tho
results OF our examination are embodied ~ gen
eral statement OF the condition @f me nanH a, t'r M
the date Of it's suspension. with schedules o, AS
sets in detail and n supplemental statement show
ing the condition existing at this date all OF "mch
arc forwarded herewith. ~ .
the present state Of the assets available for
payment OF deposits is as follows
s.o.,. c,,,r,. .,. .................... sssoo7 &c
f0css Tnes sst.. bonds ove- crcuaton 2oOo 80
Five per fund held by The Treasurer Of ,o-sono
I,.m. hea i i. esamn.r a, Jos $50 2. 20
a,s Gna1,nt.e m e'qS fcr paIchas. ot Wool Exchana.
soIk - it2 so 20
nus I59" banks '.................. 10000
oensIn os,, ."""'' ......... l2ls O.
p,u, discounted excluding all overdue pap"-.
Nsv-York Wool warehouse paper srd sl'" -. zen -e
items) ''- -
-., ................s .s2aa2ss q
Against deposits, -'f'Ns -
Assets included IN above:
PaIance loan. discounts $50 s' @ '.' "
Vau. ~ Florence Building above loan t"r' "
Stocks and claims -.oo WV
SLn1ry items ................. ..''..''..'' '
49,, so3S ts0
sur1ciency OF the asssts ~ the bank 10 pay depoS
itors in full within the stipulated four months ana
recommend that they ne turned over TO a commit
toe Of shareholders Of your selection. believing That
such procedure will facilitate the speedy paNincnf
~ needy and expectaut creditors Respectfully
submitted. tl'N Altlp = l''
FLETCHER J HEATH
W n. klMRAII.
II Is said that the committee has made a careful
examination Of all tho commercial paper in the
bank and ,ho report NAV be taken a perfectly
Trustworthy statement of tho actual condition OF
the bank
II was reported yesterday that the Wool FX-
change would soon he reorganzed. with tho Trades
mons National Bank. which failed soon after tho
suspension OF tho Exchange as tho principal factor
in the reorganization Tho bank holds large
nlock Of Wool Exchange rtork. The Wool EX-
chSnge Building # Is said will he retained for
office purposes while the Exchange will ne re
established on conservative lines. The Macnaugh-
tan interests Will not be concerned in the proposed
REORGANIZATION.