The sun., 1908-01-31

firBt vice-president Of the bank. is In charge
Of the branch. About coo depositors. start
lng at about II O'Clock, withdrew their
money before O'Clock. The authorities
expect to open the bank again promptly at
O'Clock this morning.
The Oriental Bank is a consolidation OF
the old Seventh National and the Oriental
Bank, or, precisely. = liquidation Of the
Seventh National under the Oriental. Tho
Seventh National was Organized IN 1883
as the Seventh Ward Bank. became the
Seventh National late h the EOS and In
1901 became crippled a. q result OF the
Henry Marquand 4 Co. failure. f. X:
Thomas's father. the late Gen. samuel
Thomas, was Interested In the institution
and put his son in Il as president. Tho
next day il failed and on its reorganization
In 1901 IL came out under the name OF tha
Oriental Bank. which had been Incorporated
IN 1853 and was then az the Bowery and
Grand street. Both the BOweTy and Broad
way Offices were retained, but the Bowery
Office was made branch. Edwin Gould
was the first president OF the reorgantzed
institution.
The 5ank has the only nickel counting
machine in the city and handles most Of the
small change taken in by the lines OF the
Interborough- Metropolitan system. The
Inter-Me6 and its subsidiary companies
have long been depositors In It. Il has been
reported that many Of the loans OF the bank
NBE8 8tCuTtu Dy OOhuN hAAu ONAA0t nGlAAlNAtn
of the Interim system. Heavy hQuida-
ton OF Inter-Met bonds this week has been
attributed in some quarters 70 the calling
Of these loans.
One Of the directors OF the bank. Alex
ander Mcdonald OF Cincinnati, was among
the men who made fortunes out Of the
Standard Oil Company. Mr.. Mcdonald and
many Of his associates were interested in
the Mobile. jackson and Kansas City Rail-
road, which went into the hands OF receiver
Tka, hD
since been vacated. but the market for se-
ouri,ies Of the reorganized company has
been not at all active. though the plan OF re-
organization has put the company on good
basis. The securities were characterized
by bond men yesterday as good but I'M
marketable.
Hugh Kelly. the president. is president Of
the Central Ansonia Sugar Company, di-
rector Of the Occitania Sugar Company, the
Chaparra Sugar Company, the Nipe Bay
Company and the United Fruit Company.
He is a trustee of the Emigrant Industrial
Savings Bank, st. Patrick's Cathedral, the
Roman Catholic Orphan Asylum and the
Sevilla Home for Children.
The name Of the Oriental was pulled into
the notorious Borough Bank scandals in
Brooklyn through a loan Of S250. 600 which
the latter institution obtained from the ORR
entail In September OF last year. William
Cow, the former Borough Bank director.
is now under indictment Tor grand larceny
Ia COuntfbiOh WIN tuAa NihAAHdNNAghs &hI
there was a similar charge against Howard
Maxwell. the president OF the Brooklyn in
stitution, who committed suicide after being
released on bail from Raymond street Jail
The Oriental Bank was made the deposi-
cory for the capital stock and paid in surplus
of the International Trust Company when
steps were taken toward its organization
last fall The S25OOOO which the officials
of the Borough Bank obtained from tho
Oriental went in, 40 II has been charged.
as part of the International Trust Com
pany's Sl.OOO.OOO Of paid in capital and
surplus The note on which this $3.50, 900
was obtained was signed The Borough
Bank, per H Maxwell" The directors
Of the Brooklyn institution charged that
the loan had never been authorized by
them and that they knew nothing OF the
obligation until the officers of the Oriental
Bank called for more collateral. Then
they repudiated the loan
There was a scramble between the
Borough and the Oriental Bank directors in
October TO see which would get at William
Cows property first At that time it was
said that the Borough Bank had managed
to get practically everything Gov had.
r. ". Jones was president Of the Oriental
when this loan was made.