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The Abingdon Square Savings Bank, a small institution on the west side of the city, near the junetion of Eighthare and Hudson-st., suspended yesterday by order of Bank Superintendent Eilis. The officers of the bank are: C. Schumacher, President: Beckman T. Burnham, Vice-1 resident, and George W. Brown, Secretary. Edear F. Brown is the counsel. It was organized in 1869, when savings bank charters were granted by the Legislature without careful inquiry and strict examination. It was in the immediate vicinity of two strong banks and several weaker ones, and it is stated that from the first its only hope of doing a successful business lay in the exercise of great prudence and shrewd financial management. A reporter of THE TRIBUNE last evening called on the officers and trustees, and was informed that the entire assets or the bank consisted of real estate bought under foreclosure of mortgage held by the bank, and the furniture and fixtures. Mr. Schumacher, the President, gave the following figures, showing the present condition of the bank: Assets: Real estate on Broadway, Williamsburgh, building loan, 33,000: four houses on Kossuth-st. 916, 000: three houses on Halsey-st. $11,500; other property in Williamsburgh, $3,300; three houses in Brooklyn, 825,000; bonds and mortgages, 89,420: furniture. &c. 84,500, and cash in safe, 82,000; making a total of apparent assets of $104,720. The liabilities are: Due depositors, $81,000; note held by the Hanover National Bank, $15,000, and a mortgage on some of the real estate, $6,000; making a total of $102,000. Mr. Schumacher was uncertain whether the amount advanced by the trustees-$3,500-was included in the above statement. These figures show an apparent surplus of a few thousand dollars, provided the full amount paid by the bank for the real estate and fixtures should be realized. Mr. Schumacher said that he had been the President of the institution three years, and all his family and several relatives were depositors to a large amount He had done all he could to save the bank and protect the depositors, but the depression in real estate had hedged up the way of the trustees. and was the great obstacle to success. Beekman T. Burnham, Vice-President, stated that the action of the Bank De partment was a surprise to the officers of the bank, as they had not expected such harsh proceedings. The bank examiner, Mr. Held, he said, examined the books last week, and after calling attention to a few irregularities, which were immediately corrected, expressed himself satisfied with the condition of the bank. The bank. ,Mr. Burnham said. had struggled against adverse fortune almost from its organization In getting its charter from the Legislature heavy expenses were incurred, and the salaries at first were very large. The secretary was paid 83,000 per annum, the cashier $2,500, janitor $400, and the rent was $1,300. There were other expenses for fixtures. furniture, etc., so that at the end of two years the bank was behindband nearly $20,000. The first President was Thomas McLelland, builder, then living in East Seventy-eighti-st. Mr. Burnham added that about five years ago he was invited to be one of the trustees, and immediately after his election the salaries and expenses were cut down to the lowest possible figures, and strict economy was practicetl. As to the bogus checks, he had not been a party to the transaction and had no knowledge of it until the bank examiner discovered it. No wrong. however, had been done to the depositors, although the checks of course made the amount of business done appear rather larger that it really was. and looked well in the annual report. Mr. Burnham defended the course of the trustees in making building loans. and stated that the profits realized had helped materially to pay off the debt. Mr. Burnham thought that within a reasonable time the trustees would have been able to dispose of their real estate to advantage, and to have continued business without the loss of a dollar to the depositors. A centleman familiar with the affairs of this bank stated that there were about 800 depositors, who were residents of the Ninth Ward, and mostly persons of small means The amount which will probably be realized from the assets cannot at this early day be estimated with any accuracy. The trustees have been endervoring to sell the real estate for several months without success. Theappointmento a receiver, with the necessary expenses of winding up the affairs, and the sale of the real estate and fixtures within a year, under the unfavorable circomstances which have always characterized forced sales of bankrupt estates, leaves very little margin for encouragement It was stated last evening that the depositors could not hope to receive more than 50 cents on the dollar.
