New-York tribune., 1907-12-28
DEPOSITORS ARE HAPPY
Hamilton Bank Reopening Means
Much to Mann Hdrlemites.

The merchants Of Harlem and The Bronx, who
constitute the majority of the depositers OF the
! Hamilton Bank, rejoiced yesterday over the an
nourcennent that the suspended institution was 10
resume business next Thursday, after oeing cioSeo
for two months They did express Some resret
that the reopening had not taken place before
Christmas. which would have meant better noii-
day business in those districts but there Is no
complaint far could be learned With the
present plan for resumption
The decision of Justice Belts. IN the Supreme
Court dissolving the recevership is regarded as a
great victory for William r. Montgomery presi-
dent of the bank, and the depositors' committee,
who all along have insisted that the institution
able to resume There is general sattsfac-
ton expressed the proposed reopening more
than so per cent OF the depostors having agreed
10 the plan under which the bank is to reopen
The other 20 per will be paid promptly in full
if they demand it.
Charles II. Tuttle counsel for the depositors
committee. issued the following statement yes
terday:
The decision of Justice Belts. allowing the re-
aent oL peculiar importance under the prevaling
to the eomme ] mas e egcnar eRsa at tbe @
meeting, co-operated with the officers of the bank
rens to TIE 's pn Ga Weh had SO
strong an influence the mind of the judge
committee: after careful examination Of the 6ank
interest on deposits and in ether respects made ia,
X6rahle to the depositors, will now go into effect and
rectors OF the bank taken on November 4, 1907 was
requested TO continue advisory committee to
cooperate with the directors and officers OF the
"a bank during & the nende9ey Of the Plan Will give
and to enable the substantial anticipation OF the
periods fixed by the plan for the instalment pay
ments.
Possibility OF such anticipation viii be greatly
increased If the depositors will not Withdraw at
once the cash PAYMENT to which they become I'M
uedately entitled under the terms of the plan on
the opening of the bank but will content themselves
with leaving the same on deposit taking the agreed
certificates OF deposit for the balance additional
deposits WILL of course. be subject TO Ceck for the
full amount at anv time. Such OF the few depos-
itors as, not having signed. Will attempt TO with
have not sowed will undoubtedly be classed by all
public spirited persons among the undesirable citt
ZenS" The management undoubtedly Will profit by
the experience of the past, and the committee hopes
that the institution will command the full
confidence and patronage OF the community.
There intimaton also that there would
be two three changes of officers Of the Hamil
ton Bank. There was. however official or au
thoritative statement to that effect.
President Montgomery spent several hours at
the bank yesterday with Frank White. the
ceiver. The latter said that there many
sets to be listed and turned to the proper
authorities before he could step out. Mr.. Mont-
gomery said last night of a report that the State
Banking Department might interfere with the
planned opening: THAT is simply RIDICULOUS. We
will open January 2 with 81 75o,o30 The Attor-
ney General asked that show that had
81 COO 900 before he would agree TO resumption.
We have three-quarters of million than
that"
Mr.. Montgomery would not say whether the
Hamilton Bank received aid, as reported, from the
Carnegie Trust Company and the Fourth National
Bank