15356. Bank of New Amsterdam (New York, NY)

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BROKEN BANKS. UP OF THE WORK HOW BANKROTTEN WINDING ING BANKPROGRESSESCORPORATIONS AND FREE ING, it desired they DIVIDENDS. of "free banking" plan had ol showing If the contrived a better theories could not results the soundness an over-contiding practical enemies have which of their which than pub- by by pointing sustained to the by losses the rotten banking suspended concerns operations. Central conlic have has within of these the corporations, last few years such Park as banks, the Abingdon opened some Square and the a capital of large nil, staff books upon kept up a of depositors, ducted their business and officers at the expense longer uncomfortably salaried when they could no nil shut up into their and worked coppers were continue their of fortunate assets returning their which and establishments, hard never original laboring leaving to see obscurity again. men for with struggling the tradespeople investments made by the and of cases the were of the most of these dead received was kind. The money and in bonds of officers reckless In the majority speculations tied out-of-the- "cities' up in property, and eigewhere would "one-horse-town Long Island find which it in New Jersey. and corners, to county wherein way holes a township map of of the these "Hourishthey issued bonds bank directors require ing towns" are railroads. located. Some The at a reckless rate with to appear avidity. guaran- to toe certain this sort of waste paper the concern could have then purchased when pay day came towns round in some instances banks and repudiated not meet its their liabilities. own contracts, The and suspension depositors' of the interests that the wall. instances, so involved goon followed, It frequently happened, fourth too. mortwent to third, and, in some upon which the people's second, the securities Another hardship exgages money were was allowed to put to up go with abroad. 13 the considerable broken banks for creditors by winding receivers, up the who get hands. five One per pense through incurred all the moneys agency passi ot high through percentage their would duties, justity but cent of that this ersonally to their 18 for might them they generally in suppose that attending do name not. some The CADDOL usual person practice do anything to act as of the receiver And to as the clerk absence people who the sus- are his clerk. in the receiver's to have dealings for with him all over importance uniontunate enough must either look the wiser about pended corporation or go without being anything their the city busine:8. THE BANK OF NEW arrived AMSTERDAM. at after several establishment a held once was the day Such s' search are among the conclusions place the ruins in the of confidence banking of thousands visited which 01 New Yorkers. first establishments No. 215 Howery Mr. former Richard One of bank M. the Bent. of on New as the Amsterdam, receiver 14th of December, divided this bank, 1876, of took fifty charge and lost. per on February of the assets 1. 1877, he the declared creditors. a Up to been the paid 23d over cent traction in favor over of $232, 000, others all cash, holding had claims that another against a to depositors and The receiver cent believe may be declared one of say in teu dividend the concern. of of twenty the present per year, and making final altogether September per cent about This 18 Caristmas, probably the can highest pay. percent- Among eighty that per any cent. of the suspended house and baaks lot are set beneves! down 16 age the assets u.e $128,933 banking 46; but $55,000, the it receiver as much. There 10 valuation bring o no more than ewiston bonds, which liabilities appear foot will also $25,000 in ketable value. The 83, being have are no present 66 and mar the assets 11 are the $417,837 items could DO up $ $511,792 $93,934 83 short of would what, balance the books. bank. just turned into cash THE at par, TRADERS BANK. receiver of this Samuel B. Waite. who and is requested to give some the inwas Mr. visited by the writer columns of the trust. HERALD. He had and the public, through the condition of his the occasion, sight taste, however, into replied the that to be he very had crusty no information on 10 give nor gruffly to make. THIRD AVENUE BANK. It appears from the institution. declared. that in The the of lifteen per obtained at the By statement dividend receiver of THE could this be statement cent was October. of Mr. S. May, 1876. H. 1876. Hurd, latest office Mr. it statement not appear that to be later that than from various sources with the does the public received are informed $303. 11. used This to pay amount, the filteen per Hard exception had of $63,997 84, special was deposits 'rustees' The bonds, and centdividend, and bank amounted to:- $158,810 25, $112,500; assets ot the boods and mortgages, Elizabeth, $25,000, liabilities making are a claims re mainder against the of city $296, ol 310 may 25. be But ascertained paid by calcu- as a the total not stated, although amount this of the exception dividend of one. reTwo lating basis. from All the the trustees, amount of with their the respective of the bonds. mortgages and doublit fused are now to pay being sued on amount thew. to $54,000, $87,671 23 and was are ob Ehzabeth on account (second) value. in litigation A judgment city for pl operty, but of assess- it was tained that against a deut of $150,000. on record against and grading, GERMAN BANK. of Ubl because receiver month ne paid same rate monts found Mr. and THE the UPTOWN same was second, of this at concern the it. dividend in it Decem- 18 exber, twenty-ave 1875, per declared cent; a in April, 1876, asset and time percentage, that was a third division cent- 01 will be dividend coming amounting pected in September to next, about in making ten favor per of altogether creditors/ Like a total the The other receiver cor- in of gixty per cent than $500,000 is engaged law suits, oi dividends. has porations paid out upon the more Uptown the result German of which Bank must depend the the future declaration THE BOKD the STREET ceiver BANK. of this 72. bank, besides colMr. William S. first Payne, of last mouth deposits. $793,528 tween lected the sum up of to $4,267 February 05, on and special the middle has the already present the beginn month $28,0 of is dividend was received. of filty-tive and There the per cent, chances reach hich are are been 18 now declared being paid out in favor upon call, ot depositors over $90,000 will infor that seventy-five the amount per cent. which There hav paid no interest what they vested in IOWI bonds and it is questionable The assets are the would last bring at Eve years, it $1,412,287 forced OD 58. the and market. certainly the ought liabilities to right. pay at stated $1,286,688 02, figure the which dollar If everything is creditors 100 cents THE of MUTUAL on the affairs BENEFIT of He this BANK. took bank charge is in the in hands The liquidation of Mr. W Two F. dividends, Aldrich. each twenty-live and the 16th per of December, paid 1876. on the 1st of February expected that another and cent, May, 1876, were respectively. per cent will It be ready hereafter. next May 1, These dividend distribution of ten 18 10 take place the total dividend Mr. to a final would bring The up amount celved by but seventy.fr payments $415,000, per cent the greater part and in more stocks ages. The nominal amount $30,000 ID cash. Aidrich little cash is and one-quarter of assets in now bonds on hand IS $100,000 the in real estate THE ANG PROPLE'S SAVINGS receiver BANK. of People's I. V. French was named and in the following per April be cent. Bank Mr. in November of thirty-three 1875, assets and one-third was $162,714 64. of paid The total a dividend amount of footed nominal up to $192, 606 realized, 15. Out and liabilities 88 was that the and assets the the sum of vestments $66,847 " 18 expected from the remaining