The Birmingham age-herald., 1908-01-30
NEW AMSTERDAM
 BANK CLOSED UP
Weakened By Other Bank FaiI-
 ures Institution Gives Up
NO ONE WILL LOSE MONEY
President klnsnan Gives Out State. ment Showing That the Bank Was Building Up Its Business,
 But Needed Funds.

New York, January 29.-The New Ann sterdam National bank, capitalized at A.- o00,0O0 and situated at the corner of Broadway and Thlrty-nnth street, was closed by the order of the Comptroller ot the Currency tonight and National Bank Examiner Charles A. Hanna was placed In charge The institutions liabilities are placed at s44s2,016, of which s2,065.27249 49 are due depositors. The banks officers assert that not only will every depesltor be paid in full, but the stockholders will receive a substantial dividend. The New Amsterdam was formerly one of the chief institutions in the chain of banks estab- lished by Charles W Morse.
 President Frank w. Kinsman, Jr., de- clared in a statement issued tonight that the closing of the National Bank of North America, attracting renewed atten- ton to the interests which had previously dominated both institutions in their past administrations, started fresh reports of an exaggerated and sensational nature, which necessitated the liquidation of ths bank"
 The institution occupied quarters in the Metropolitan opera house, In the heart of the uptown theatrical district and numbered among its clientele many of those prominent on the stage.
 About a year ago the New Amsterdam National underwent a reorganization be- cause of a falling off in Its business, and Frank w Kinsman, Jr., was elected pres idsnt. Every effort was made to rehabi- tate the institution. The recent panic was not without its affect, but the bank wealth. cred the storm and succeeded in reducing its clearing house certificates from $1,7O5.- GOO to $300,O00
 The placing of the Bank of North Amer lea, considered as the chief bank of the Morse control, in the hands of the Comp troler of the Currency brought out ru- mors as to the New Amsterdam National, according to President Kinsman and he acquainted Comptroller of the Currency Ridgely with the situation and requested him to take charge of the institution and treat depositors and stockholders alike.
 The statement given out by President Kinssman tonight says:
 "A year agoI I was invited. in an effort 
 presidency of the bank, which, as was we'll known, had suffered considerable decline in business. From that time the policy of the bank has been a conserva- tive one not fostering or influenced by special interests, and of a character not coming in the slightest degree within recent criticisms of bank methods.
 'The stress eliminating in the October panic was naturally severely felt. The f,.II fl14 AE fleets of the panic and had retired it's clearing house certificates from $1705,000 down to $3O0,0O0 and the bank was on an upward and successful movement. But the closing of the National Bank of North America attracting renewed atten- ton to the interests which had previous ly dominated both institutions in their past administrations, started fresh re- ports of an exaggerated and sensational nature which necessitated the liquidation of the bank. No loss will be sustained by depositors and there will be sub stantial dividend for stockholders
 The following statement of the assets and liabilities were made at the bank tonight
 Assets:
 Loans and discounts, g, ,425, ,440.j4
 United States bonds and premiums, $165120.
 Other bonds and stocks, $695, ,7261S
 Banking house and other real estate, $S92, ,991. .3S
 Cash and checks on other banks, $162,- 334 .34.
 Due from collections, $1S2. .724.1S
 Cash margin at New York clearing house, $7679.5 .5S.
 Total, s4.4s2 ,016.2 20.
 Liabilities:
 Capital stock, s1O00,000
 Surplus and profits $1S2, ,1O6 5i.
 Circulation, $150,0OO.
 Bonds borrowed, $200,0OO.
 Clearing house certificates. s30o00O.
 Individual deposits, S2,065, ,272. 49.
 Bank deposits, $17203717,
 United States deposits. s4l2.0O0.
 Total, s4,4S2, ,0l6.20