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Closes up Business. National Associated Press to the Star. NEW YORK, July 5.-The Clinton Savings Bank has suspended payment, the trustees having decided to stop business on account of the decline in bust ness and shrinkage of stocks and real estate values.
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FOREIGN.-The Russian disasters in Armenia are rePresident MacMahon ported to be very great has sent peaceful assurances to the Emperor WilThe Fourth was celebrated with liam due honor in London and Paris. DOMESTIC.-At the Fourth of July celebration at Woodstock, Conn., yesterday, Mr. Blaine and ExGov. Chamberlain made speeches attacking President Hayes' policy: Col. Waite, of Norwich, said a few words in defense of the President: speeches were also made by Prof. Northrop and Dr. Cuyler, and poems by O. W. Holmes and Mary Clemmer were read. John W. Forney delivered an oration in the Exhibition building on the dignity of labor. It is reported that there is a league among all the North-western Indians against the whites, and that the outbreak in Salmon Valley was Six persons were drowned near premature. Woburn, Mass., by the upsetting of a boat; six persons were fatally or seriously shot in different parts of the country. CITY AND SUBURBAN.-The Clinton Savings Bank Fourth of July in this city and has suspended vicinity was unusually quiet, with few crimes and S. S. Cox, Augustus few fires of consequence Schell and others at the Tammany celebration deR. Judge nounced the Electoral Commission B. Carpenter has written a letter of resignation to Gov. Hampton James Hayes was slightly hurt in a street brawl Crump and Everdell's manufactory at Montclair, N. J., was burned with a loss of $200,000 Pride of the Village Caracalla, Chesapeake and Risk won the Long Branch Races Eight races were rowed on the Passaic at Newark. THE WEATHER.-TRIBUNE local observations indicate clear or partly cloudy weather. Thermometer yesterday. 74°, 83°, 76°.
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FAILURE OF A SAVINGS BANK. NEW YORK, July 4.-The Tribune to-morrow will contain a special report of the suspension of the Clinton Savings Bank, No. 311 Eighth avenue, on account of a gradual reduction In deposits and lethargy In business. The last statement, made in Juue, showsassets, $73,669; liabilitics, $73,493.
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NEW YORK. Failure of a Savings Bank. NEW YORK, July 4.-The Tribune of tomorrow (Thursday) will contain a special report of the suspension of the Clinton Savings Back at No. 244 Eighth avenue on account of the gradual reduction in deposits and lethargy in business. The last statement of the Secretary of the Bank, made the third week in June, shows the total assets at $7,366,838, and total liabilities at $7,349,555. It is telt by the officers that the amount of loss to depositors will largely depend upon the person appointed as receiver.
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Mercantile and Bank Pailures NEW YORK, July 6.-1 - Martin & Johnson, tobacco cammission merchants, Front St., have suspended: liabilities $60,000; assets stated to be $100,000. NEW York, July 6.-The Clinton savings bank has closed owing to stagnation in business and shrinkage in value; there will be a probable loss of ten cents on the dollar.
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CLOSING THE CLINTON SAVINGS BANK. DEPOSITORS WILL PROBABLY RECEIVE 90 PER CENT. There is little to be said in addition to the full account of the affairs of the Clinton, Savings Bank published in THE TRIBUNE yesterday. The statement of the assets and liabilities, as published, was given by the Secretary. Orlardo P Smith, from memory, and contained one or two BITOPS. The correct figures are more favorable to the bank. The item of interest due should be $758 94 instead of $700. and the cash on hand is $133 56, and not $130. The amount due to depositors is $67,902 79 instead of $69,100, making the assets $1,432 54 in excess of the liabilities. The assistant, who was formerly employed in the bank at a salary of $400 a year. was dismissed about two months ago, leaving only one officer who draws a salary. Mr. Smith said yesterday that he had received no communication from the Superintendent of the Banking De partment, but he was expecting one every hour. The depositors had not flocked to the bank in large numbers, when the first knowledge that the bank was to be closed was given to the public in vester ay's TEIBUNE. Those depositors who came in yesterday were assared by Mr. Suite that the bank was closed in order to prevent losses to them. and at peared satisfied when they learned that they were to receive much more th an depositors in some of the other broken savings banks. Mr. Smith thous :bt that they would receive about 90 per cent. of their deposits; he did not see how the expense of closing could amount to more than 10 per cent. the receiver would be entitled to 5 P r cent., and Mr. Smith was hopeful that the other expenses would not be more than 3 per cent. If the President, Mr. Mildebergen. were appointed the receiver, he would make no charge for his services, which would be a great saving for the depositors; but his ppointment mignt possibly be looked upon by the depositors as a shield to some improper proceedings on the part of the trustees.
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THE SUSPENDED BANK. WHAT THE SECRETARY OF THE CLINTON SAVINGH BANK SAYS OF THE SUSPENSION-SUGGESTION TO APPOINT ONE OF THE OFFICERS AS RECEIVER. The Clinton Savings Bank, at No. 244 Eighth avenue, as was announced yesterday, has suspended payment, and a receiver IS shortly to be appointed to wind up its affairs. The suspension was entirely unlooked for, not only by the depositors, but by the trustees of the bank themselves. When it was formally announced yesterday it certainly created no little surprise. The depositors seem to have the most impileit confideuce in the integrity of the officers, who maintain that the suspension is not at all due to mismanagement, but rather to the immense shrinkage in the values of certain securities held by the bank. When interviewed last evening by a reporter of the HERALD several of the trustees affirmed that, should the Superintendent of Banks appoint some one of the officers RS receiver the depositors would receive every dollar of their money. They denied most emphateally that the bank was insolvent. and maintained that it was perfectly solid; still, on account of the serious depression in business, the fatting off in the number of their depositors, and the gloomy outlook for the future. they felt unwilling to continue the business of the bank longer. since is might jeopardize the interests of their present depositors. Their determination was reached on last Monday evening at a meeting of the Board of Trustees. Up to that time the Trustees had never for of moment doubted the ability of the bank 10 continue its business for an indefinite period, and when they were informed by the Chairman of the Financial Committee, Mr. George H. Robinson. that they could not, in all justice and equity, continue the business longer. they ordered an immediate investigation into was affairs of the bank for the purpose of ascertaining how much the depositors would be likely to recover of their money. This investigation showed the assets of the bank to be $73,720 with habilities aggregating about $72,298.34, leaving a balance in favor of the depositors of $1,432 54. As far as the securities of the bank are concerned it 18 very im. probable that they would DOW bring in the market the amounts at which they are valued by the officers of the bank. The officers feel confident that the loss in the rate of these securities will not be seas great as 18 imagined. Some of these ourities are notes which were given by prominent business men who subsequently failed, notably among them being Mr. Louis J. Phillips, the tur dealer 01 No. 92 Crosby street, who became a bankrupt last fall for fully $1,000,000. The other securities are mostly stock of the National Trust Company, the Real Estate Trust Company and the Twenty-third Street Railroad Company, and 11 is expected that all these securities will bring their par value. SECRETARY SMITH'S OPINION. "I have not the slightest doubt," said Mr. Orlando P. Smith, Secretary of the bank, last evening, 'that we will be able to return our depositors all their money. Our ability to do so, however, will depend upon the appointment of a receiver. 11 the Superintendent of Banks appoints one of the officers as recolver it will not entail a cent of expense, whereas the appointment of an outside party would cost an immense sum. I intend to make such an application to Mr. Smyth, but I hardly think he will accede to my request, for, although any officer is periectly willing to devote all his time to the duties of u receiver they are one and all averse to giving the necessary bonds. The depositors, however, might not care to see one of the officers acting as receiver. for they might suppose that the trustees in favoring his appointment had some sinister object in view. They need not have the slightest fear on this score, however, for we are determined to save them as much as we possibly can."
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TELEGRAPHIC TICKS. Alexander Pontite, of Staten Island, was drowned Friday, while bathing. The rifle matches for the Centennial trophy take place at New York Sept. 14th and 15th. A number of the officers and crew of the United States steamer Gettysburg, visited the Pope on Friday. Gen. Grant arrived at Brussels Friday evening. No official reception was given as he is traveling incognita. Pleasant Stanley, an old gentleman, was murdered in his bed at Greenburg, Ind., Friday morning. Object, money. Martin & Johnson, tobacco commissior merchar is in New York, have suspended; liabilities, $60,000; assets, $100,000. The Ontario Medical council, during its annual session at Toronte, adopted a resolution, pledging every effort to suppress liquor traffic. It is now thought that both steamers sunk by the collision near Montreal, Wednesday, will be floated and a portion of the cargoes saved. Henry Eames was killed, and A.O. Brown and Henry Lawlor were probably fatally injured by the fall of a railroad depot at Keene, N. H., on Friday. The Clinton Savings bank of New York has closed, owing to stagnation of business and shrinkage in values. There will be a probable loss of ten cents on the dollar. Tweed's counsel and the attorney general are having a high old time through the New York press, and are abusing each other in a manner highly satisfactory to the public. The master cotton spinners of Bolton, England, have resolved to reduce the wages of operatives five per cent., provided the representatives of twothirds of the spindles agree to make the reduction. A large number of Orangement are expected from Ottawa and several western towns to take part in the procession at Montreal on the 12th. All the military bands engaged are notified to appear without uniform.
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INVITING EXAMINATION. THE CLINTON SAVINGS BANK OFFICERS EXPLODE SOME RUMORS. Some of the depositors of the suspended Clinton Savings Bank, enraged by the bank's troubles which have tied up their money, have put forth several stories which do not bear investization. One of these rumors, which had a limited circulation vesterday, was that the officers of the bauk had informed their friends of its impending suspension, and these friends in consequence had drawn out their full deposits the day before the bank was closed. Whatever warning individual members of the Board of Trustees may have given it is certain from the records of the bank. which were shown to a TRIBUNE reporter yesterday, that no general withdrawal of accounts were made previous to the closing of the bank. OF the three accounts which appeared in the story alluded to, two were for fourteen dollars and a fraction and the third for $6 65. These large and important sums were not withdrawn on the day before the closing of the bank, on which only about $6 in all was taken from the institution There was no day when the slightest approach to a "run" was manufested. Another rumor which found some slight circulation yesterday was that the Trustees of the Bank had worth less notes MINORS its assets. and were instantly borrowing money from it to help them in their trade as masterbuilders. Orlan to P. Smith, Secretary of the Bank, said that not one of the crustees was a master builder: that the trustees had never borrowed money of the bank. and that their notes which the bank bad discounted were issued as a pretection to the depositors in May, 1875, and would be paid in full The interest had been paid fully since they were excented. "This bank," said Mr. Smith, "has never been conducted in any way but that of the strietest honesty. The trustees have never done any queer' business like that of some other banks in the cicy, and they now intend to suffer themselves rather than to let i eir depositors lose money. The present saspension is due entirely to natio eal causes, such as the depreciation of values and the stagnation of business. Our figures have never been manipulated, and OHF accounts are open to the public eye. Any one may exawine them who wishes.
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THE EAST. THE grave of Saniuel Meredith, the first treasurer of the United States, at Mount Pleasant, Pa., was visited on the afternoon of the 4th, by a party of gentlemen, who cleaned and cleared the grounds, and organized a monumental association. It is proposed to erect a plain, but substantial shaft. MARTIN & JOHNSON, tobacco commission merchants, Front street, New York, have suspended. Liabilities, $60,000; assets stated to be $100,000. THE loss in valuation of real and personal property in Boston, compared with last year, will reach $60,000,000. PURSER OWEN, of the steamship England, and a dock clerk named Edgar P. Andrews, have been arrested at New York for complicity in smuggling silks andlaces. Owen, in a voluntary statement, says that during the four years of his connection with smugglers, the silks and laces brought into port by him would amount in value to about $120,000. He got 20 per cent. commission. From books and papers in the possession of authorities, it is estimated that in the last eight years goods to the amount of $1,000,000 had been brought to this country from England without paying duty. THE Clinton Savings Bank, New York, has suspended, owing to a gradual reduction in deposits and lethargy in business. The June statement showed $73,668 assets, and $73,495 liabilities. DR. E. H. CHAPIN, it is said, has resigned the pastorate of the Church of the Divine Paternity, New York, in consequence of a proposition, made by one of the members to reduce his salary. THE steamship Anchoria took our 5,000 packages of butter from New York for Great Britain, on the 30th-the largest shipment of the kind ever made. AEOUT 170 employes have been discharged from the New York custom house.
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If our New York contemporaries had noses for news, they would investigate the Clinton Savings Bank failure and ascertain whether Mr. KEMP, or any other Director, told his son and all his friends on the eve of the suspension that the bank would close next day, and advised them to take their money out while it was called to-day.
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NEW-YORK SUSPENDED SAVINGS BANKS. ALBANY, N. Y., Dec. 26.-Justice Ingalls has issued an order, on the application of the Attorney-General, dissolving the Mechanics' and Traders' Savings Institution and the Clairmont Savings Bank, both of NewYork. Judge Landon has appointed E. M. Tompkins receiver of the Rochelle Savings Bank. Robert Hoe, Stephen D. Tucker and George G. Hallock have been appointed joint receivers of the Oriental Savings Bank by Judge Osborn. The receiver of the Clinton Savings Bank, of NewYork City, has made his report to the Supreme Court, and Judge Landon has issued an order thereon, directing the receiver to pay a dividend of 25 per cent.
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The Broken Savings Banks. ALBANY Dec. 26.-Justice Ingalls has issued an order on the application of the Attorney-General dissolving the Mechanics' and Traders' Savings Institution and the Clairmont Savings Bank, both of New York. Judge Landon has appointed E. M. Tompkins receiver of the Rochelle Savings Bank. Robert Hoe, Stephen D. Tucker. and George G. Hallock have been appointed joint receivers of the Oriental Bank by Judge Osborn The receiver of the Clinton Savings Bank of New York city has made his report to the Sur reme Court. and Judge Landon has issued an order thereon, directing the re. ceiver to pay a dividend of 25 per cent.
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SAVINGS BANK MATTERS. ALBANY, N. Y., Dec. 26, 1877. Justice Ingalls has issued an order on the application of the Attorney General dissolving the Mechanics and Traders' Savings Institution and the Clairmont Savings Bank, both of New York. Judge Landon has appointed E. M. Tompkins receiver of the Rochelle Savings Bank. Robert Hoe, Stephen D. Tucker and George G. Hallock have been appointed joint receivers of the Oriental Bank, by Judge Ossorn. The receiver or the Clinton Savings Bank, of New York city, has made his report to the Supreme Cours, and Judge Landon has issued an order thereon. direct. ing the receiver to pay a dividend of twenty-five per tent.
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CLINTON SAVINGS BANK. The receiver of the Clinton Savings Bank, of this city, has made his report to the Supreme Court, and Judge Landon has issued an order thereon, directing the receiver to pay a dividend of twenty-live per cent.
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BROKEN BANKS. Mr. Best paid out $23,000 yesterday on account of the first dividend of fifty per cent to depositors of the National Trust Company. Each depositor, on receipt of his money, signed an acknowledgment to be filed in court. Payments will be continued daily, from ten A. M. to three P. M., until the 2,300 depositors having accounts in the concern receive their proportion of the dividend. Mr. Best expects to be able to pay another dividend within a short time. The receiver of the New Jersey and New York Railroad Company has served him with a notice claiming bonds of that company, included by him in the list of contingent assets, which he found placed to the credit of the National Trust Company. The Davis Sowing Machine Company have also written to Mr. Best to say that the bonds of that company, found by him in the trust company's safes, were bonds which had been placed with Morris Winslow for a specific purpose and which were misappropriated. Judge Dykman, of the Supreme Court, has approved ot the bonds offered by Edward M. Tompkins, who has been appointed receiver of the New Rochelle Savings Bank prior to assuming the duties, The persons who have signed the bond of Mr. Tompkins for $50,000 are as follows:-Thomas L. Disbrow, Edward Lambden, George B. Ackerman, Conrad Roth and Jacob Crawford. The receiver has also qualified in the sum of $12,500. Martin J. Keogh has been appointed counsel to the receiver. The receiver of the Clinton Savings Bank, No. 248 Eighth avenue, commenced to pay a dividend of twenty-live per cent to the depositors at ten o'clock yesterday morning. The amount due the 1,252 depositors is $67,723 32, nearly all the deposits being small. The bank has yet to realize on a house and lot on East Seventy-lourth street, No. 254, and house and lot No. 230 West Sixteenth street; filty shares of the defunct National Trust Company's stock, two notes for $9,000 secured by 117 shares ot the Real Estate Company's stock, and two notes for $500 each, made by trustees.
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BUSINESS TROUBLES. Edward L. Parris, receiver of the Clinton Savings Bank, has called a general meeting of the creditors, to be held on January 3, at No. 261 Broadway, but no dividend will be declared. Mr. Parris said yesterday that he hoped to pay a final dividend about the last of February. A meeting of the creditors of Meyer & Geiger, exporters of hardware, was held yesterday, at the rooms of the Hardware Board of Trade. A statement was read showing liabilities $74,000; actual assets, $53,000, of which $25,000 are secured. A committee of five was appointed to investigate the affairs of the firm.
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$645,000 00 Total (about) Among the more important creditors to whom are owing amounts exceeding $5,000 are the following Atlantic Mutual Insurance Company, $18,646 35: Henry M. Faber (partially secured), $29,000; Second National Bank of Cleveland (partially secured). $15,000; Ludewig & Co., Lima, $13,000; the Republic of Peru, $96,252 52; Provost & Co., of Lima, $10,000; A. Ran, $12,100; Francis M. Parkin, $14,508 18; J. L. Brewer, Brother & Co., $11,040; Batille & Rennist (partially secured). $12,226 95 Drexel, Morgan & Co. (partially secured), $95,939.86 J.S. Morgan & Co., of London (partially secured), $20,545 62; Brown, Shipley & Co., of London, $97,285.35 National Bank of the Republic (partially secured), $15,000; Forbes, Forbes & Co., of London (partially secured). $150,597 89. Besides these there are numerous other smaller claims, ranging from $100 to $5,000, which go to make up the estimated aggregate of liabilities given above. YESTERDAY'S ASSIGNMENTS. George Gueutal & Son, importers of piano materials. made an assignment yesterday to Thomas Alexander, Jr., giving preferences to eleven creditors for $33,889 05. Depreciation in real estate and shrinkage in stock were the main causes of their failure. They have a factory in Tenth street which cost $150,000, and their store in Fourth street cost $60,000, mortgaged for $40,000. The total liabilities are estimated at $100,000, while the assets are very good. Otto Huster, dealer in furs, made an assignment yesterday to George Boss, giving two preferences for $2,626 65. GREENLEAF, NORRIS & co.'s ASSETS. At the Real Estate Exchange yesterday Nicolay & Co., by order of Selah Chamberlain, receiver of Greenleaf, Norris & Co.; sold a large schedule of assets, consisting of real. estate, notes and accounts. Among the sales were the following:-Eight acres of land in Nyack, subject to $5,000 mortgage, for $2; twenty-two lots in Spring Valley for $65: balance of account against S. W. Battershall, $11,413 15, secured by a $10,000 Equitable Life policy, for $75; balance of account against H. H. Boody of $2,612 16 for $2 25; balance of account against J. A. Hoyt of $1,145 68 for $1 50; note of same for $900 for $1 25: note of E. F. Kendail for $2,500, note of E. B. Grant for $100, and balance on account against the same party of $195, all for $1 25; note of John C. Hay for $1,000 for 50, and a claim against Gameweil & Co. of $1,079 09 1or $6 25. The interest of the late firm in 10,439 shares of stock and $54,000 of bonds of the Schuylkill Coal Company or Pennsylvania was sold for $5,010. CLINTON SAVINGS BANK. A general meeting of the creditors of the Clinton Savings Bank was held yesterday at the rooms of the receiver, Edward L. Parris, No, 261 Broadway, when the latter made a statement. He expects to close his accounts and pay a final dividend to depositors by the last day in February. The receiver has already paid a dividend of twenty-five per cent, but is unable to determine the amount of his final dividend, with certain claims pending. The United States Local Inspectors of Steam Vessels concluded an investigation yesterday of the circumstauces attending the collision of the Wuiliamsburg ferryboat Commodore Barney and the bark Saginaw, which was in tow of the tug J. L. Levey, on December 5. They decide that the pilot of the tug was guilty of neglect, and that Luther Holmes, the pilot of the ferryboat, acted recklessly. The licences of both men were suspended.
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CLINTON SAVINGS BANK. On the Real Estate Exchange yesterday Receiver Parris, of the defunct Clinton Savings Bank, sold two judgments against Isidor Falk for $4,029 05 and $4,548 68 respectively at $200 each, and a note made by Joel o. Stevens, late Under Sheriff of this city, for $500 at $8. Receiver Parris hopes to pay a dividend about the 1st prox.
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Proposals. BUILDING C SMITHSONIAN INSTITUTION, OFFICE OF THE SECRETARY. } WASHINGTON. D. C., March 27. 1879. Separate proposals will be received at this office until 12 M. on the 10th day of April, 1879, for furnishing and delivering the concrete stone, rubble stone, bricks, cement, lime. and sand, and also for excavating and grading. for all labor TM Inying concrete foundations, for All labor in building foundations and cellar walls of rubble stone, and for all labor in laying bricks. The plans of the building may be seen, specifications, all necessary information, and blank forms of proposals may be obtained at the office of CLUSS & SCHULZE, Architects (Corcoran Building). The proposals, in the prescribed form will be addressed, SMITHSONIAN INSTITUTION, Office or Secretary. Washington, D. C. Elibidends. CLINTON SAVINGS BANK. FINAL DIVIDEND The subscriber will pay a second and final dividend of forty-three 169-1.000 per cent to the depositors and creditors of this bank for ten days beginning Apr 21, 1879, between the hours of 10 A. M. and 3P. M., at 422 8th av., in the city of New York. EDWARD L. PARRIS, Receiver Clinton Savings Bank.