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Business Suspension. NEW YORK, Nov. 26.-The Manufacturers' and Builders' Bank, corner 3d avenue and 57th street, suspended payment to-day. Failure in London.
Manufacturers & Builders Bank (New York, NY)
Episode Information
- Episode UID
2820248190911- Episode Type
- Suspension → Closure
- Bank Type
- state
- Bank ID
-
282024819hash - Start Date
- November 26, 1875
- Location
- New York, New York (40.714, -74.006)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
6a56a67b7fce86b0
Response Measures
None
Events (1)
1.
November 26, 1875
Suspension
- Cause
- Voluntary Liquidation
- Cause Details
- Directors decided to go into voluntary liquidation due to stagnation in trade, falling off in business from building contractors, and prior losses (loan to Henry Clews & Co.); receiver appointed and bank to be wound up.
- Newspaper Excerpt
- The Manufacturers' and Builders' Bank ... suspended payment to-day. ... will go into liquidation and pay all its indebtedness.
- Source
- newspapers
Newspaper Articles (21)
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Bank Failure in New York. NEW YORK, Nov. 26.-The Manufacturers' and Builders' Bank, on Third avenue and 57th street, suspended this morning, The excitement in this vicinity, among depositors is intense, NEW YORK, Nov. 26.-A run haying commenced on the People's Savings Bank, Third avenue, this worning the officers closed the doors and took advantage of the 60 days' notice rule. This bank was affected, together with others, by the run on the Third ayenue Savings Bank.
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NEW YORK. A Savings Bank Wound Up. NEW YORK, November 26.-The Central Park Bank, a small savings institution up town, will be wound up. Suspended. The Manufacturers and Builders' Bank suspended. The liabilities, exclusive of capital, which is $180,000, are $300,000. The officers say they have sufficient to pay depositors and have a handsome surplus. Run on a Bank. There was a run on the People's Savings Bank, but the officers took advantage of sixty days' notice allowed. and closed the doors. There was a slight run on the Security Savings Bank. Arrival of the Cardinal. The Abyssinia. with Cardinal McCloskey, has arrived. He was met on the landing by a delegation of the clergy and laymen, and escorted to his dwelling. Failed. E. Waitzfelder & Co., dry goods and cotton commission merchants, failed. Oakey Hall Turned Actor. Manager Stuart's announcement that exMayor Hall would appear at the Park Theatre in a new drama is corroborated by him, and has excited much interest in dramatic, literary and legal circles. Boucicault, Harlbut and Stuart himself are said to be his collaborators. Beecher's Thanksgiving Sermon. Mr. Beecher, in his thanksgiving sermon, discussed the question of the common schools. and notably the point whether the Bible should be read in them. He declared unqualifiedly against. There is no reason, he argued, why the Jew should be compelled to listen to, or pay for the reading of the Testament, which he did not believe, why the Roman Catholic should be forced to have his children read or listen to the reading of the Protestant version of the Bible, which he did not think correct. or why, in the localities where the majority was the other way, the Protestant children should be forced in the same way to read the Douay Bible.
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New York. / NEW YORK, Nov. 27.-There is no probability that the suspension of the small banking institutions on Third avenue reported yesterday will produce any excitement or run upon any of the other savings banks. The Manufacturers' and Builders' Bank will probably pay in full, and may resume business. The People's Bank will also resume soon. FUNERAL. NEW YORK, Nov. 27.-The funeral of W. B. Astor, the millionaire, took place from Trinity Church this morning. Bishop Potter, Revs. Morgan, Dix, Houghton and other eminent divines were present. ALIVE. Matthew Crony, gate-keeper at the Penitentiary, whose skull was fractured yesterday, his brains oozing from the wound, is still alive. His vitality under the circumstances is a marvel to the physicians. The summing up in the Scandal murder trial is progressing. Beach, counsel for prisoner, is making an able argument. SENTENCED. Col. Robt. Des Anges, who has been found guilty ot complicity in smuggling goods through the appraiser's office at undervaluation, was sentenced by Judge Benedict to-day to two years in the Albany penitentiary and to pay a fine of $1,000.
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SUSPENSION OF A STATE BANK. WILLIAM A. BUTLER APPOINTED RECEIVER OF THE MANUFACTURERS AND BUILDERS' BANK-THE DEPOSITORS 10 BE PAID IN FULL. The Manufacturers' and Builders' Bank, at Third-ave. and Fifty-seventh-st., went into liquidation yesterday, and William A. Butler, who is one of the D1rectors, and a plumber by trade, was appointed receiver. This bank was organized in 1869, with a capital of $100,000, which was increased to $450,000, but reduced recently to $180,000. Its officers Were John Davidson. builder, President, and David Morgan. Cashier. Mr. Morgan was formerly Secretary of the Third Avenue Savings Bank, and is one of the accused officers prosecuted by the depositors. The officers of the bank stated to a reporter of THE TRIBUNE yesterday that their troubles began in a loan of $150,000 to Henry Clews & Co., secured by bonds of the Burlington and Cedar Rapids Railroad to the amount of $365,000. They had been obliged to carry this loan, and they thought that there was now a fair prospect of its ultimate payment. Some of the collaterals for this loan had been sold, and the proceeds applied to reduce the debt. The dull times and a general drag in business had followed, and their heaviest depositors had graduaily withdrawn their deposits in order to invest in stocks and bonds. After paying all the depositors 100 cents on the dollar, there would remain about $100,000 for the stockholders. Deducting the expenses of winding up the business, and the bad debts, the stockholders, it is estimated, will receive between 40 and 50 cents on the dolIar. Following is an official statement of the condition of the bank yesterday morning: ASSETS.-Bond in Bank Department, $5,300; bills discount. ed, $374,050 80; demand logus, $70,887 07; bank notes. $12,729 03; bonds and mortgages, $31,550; interest account, $3,550 13; State and rairroad bonds, $44,113 50 fixtures, $5,000; country bank checks. $1,053 12; protested notes, $8,176 35 making a total of $556.4 7 06. LIABILITIES-auk capital, $180,000. due depositors, $239. 525 15: certified checks, $21,447 65; Chatham Bank (86cured), $54,767 78; call loans, $51,000; a total of $546. 740 58. This statement shows an apparent surplus of $9,676 48. But the capital, it is well known, has been impaired one half, although depositors will be paid in full. The following court proceedings in regard to this bank took place yesterday: Judge Donohue in Supreme Court, Special Term, appointed a receiver of the bank in a suit brought by Samuel Rosenbach for that purpose. In his complaint Rosenbach sets forth that he is a stockholder to the extent of 50 shares at $40 each, and a depositor to the extent of over $900, and that the bank is unable to pay its debts, and has closed its doors and refused to pay his check for $900. He asks an accounting by the bank of its assets and liabilities, an injunction against its carrying on business, and a receiver to wind up its affairs. His complaint, which is plainly formal and friendly, is supported by his own afiidavit, repeating the same facts. On this complaint and affidavit Flanagan and Bright obtained from Judge Dono-
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SUMMARY OF THIS MORNING'S DISPATCHES. Legal tenders quiet at 87½ buying, and 87% selling. The Poorman Mining Company of Idahe has levied a fifty cent assessment, delinquent on the 29th of December. A disastrous incendiary fire occurred at Albany, New York, yesterday morning, destroying the livery stable of Anson Marshall, containing horses, buggies, etc., all of which were destroyed. Loss, about $80,000. A dispatch received from survivors of the Magdalene Islands fleet says six vessels were lost, and only seventeen then saved out of sixty-two. The Indian troubles in New Mexico are reported as being of a serious character. Harry H. Silsbie, of Cincinnati, committed suicide in that city yesterday morning. It is understood that the Missouri River Indians-about seventy per cent. of those originally going into the treaty are disposed to sell their interest in the Black Hills to the United States, The Manufacturers and Builders' Bank in New York susponded yesterday. Much excitement. There was a run en the Peoples' Savings Bank in New York yesterday, but the doors were soon closed, the sixty days'notice having been taken advantage of. Leading creditors of Lee & Shepard, Boston, have unanimously agreed to accept the proposition of the firm to pay twenty-five cents on the dollar in eight installments at intervals of three months. A dispatch from San Diego says, Chavez, the robber and late lieutenant of Vasquez, was recently killed while resisting an attempt to arrest him. Ex-Alderman Clement, of Toronto, Canada, was arrested yesterday, charged with complicity in the murder of Miss Gilman, for causing whose death Dr. Dane's wife has been sentenced to be hanged. The funeral of the late Vice President arrived at Union depot, Baltimore, at 3 P. M. yesterday, The procession formed and proceeded to the City Hall, where were assembled 5,000 people awaiting the arrival of the procession. On the arrival, a little after 4 o'clock, the casket was borne from the hearse and placed on a bier in the rotunda, which was tastefully draped in mourning. The body laid in state about an hour and a half: vast crowds passed and looked the last look at features so long familiar to the public. About half past 5 the casket was closed, and the line of march again formed, the body removed to the hearse, and the procession marched to Calvert Street depot, where the remains were placed on the train which left for Philadelphia at 6:25. During the ceremonies in the city the bells tolled and there was every demonstration of respeet to the deceased.
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NEWS OF THE DAY. "To show the very age and body of the Times." The report of the failure of the Manilla house of Russell, Sturgis & Co., is confirmed by yes. terday's London advices. Small pox is prevailing at several points along the has of the Delaware and Hudson canal, in New York and Pennsylvania. Cardinal McCloskey arrived at New York yesterday, and was escorted to bis residence by a delegation of elergymen and laymen. The announcemet that ex-Mayor Hall would appear at the Park Theatre, in New York, in a new drama collaborated by him, has excited much interest. A dispatch received at Quebec from one of the survivors of the Magdalen Island fluet says SIX vessels were lost and only seventeen III D were saved out of sixty-two. Great snow storios are reported in the prov ince of New Brunswick. In some places the snow eighteen inches deep. Several school ers are ice-bound at Port Duchene. Ao elderly gentleman caused some excitement in a street car in Baltimore, yesterday, by an attempt to administer personal chastisement to a young geutleman. The public prosecutor at Berlin has apphed to the Senate of the State Tribunal to indict Count Von Arnim for treason, on account of his alleged authorship of the pamphlet which recently appeared. The sum of $105,000 has been subscribed by the citizens of Cincionati, which, with the $145,000 given by Mr. Reuben Springer, completes the sum necessary for the erection of the new Music Hall. A Madrid special says that Mr. Layard, the British Ministert Spain, when passing through Bilbao recently, refused to receive a visit from General Burriel, of Santiago notoricty, who is Governor of the Province, and has been remonstrated with by the Minister of State. Lyon (the signal officer on Mount Washington, N. H.,) supposed to have been lost ou the mountain during the severe storm of Wednesday, reached the summit next morning in an exhausted condition, having passed the night in a deserted hut. While pleading a case in the court-room at Westminster, Md., yesterday, Elijah F. Crout. esq., a leading member of the bar of Carroll county, fell to the fl or and expired with startling suddenness. The deceased was aged fiftyfive years, and was greatly esteemed. The Manufacturers' and Builders' Bank of New York suspended yesterday. There wasa run on the People's Savings Bank, but the officers took advantage of the rule requiring sixty days' notice for the withdrawal of depositsand closed their doors. The bank will pay seventy-five cents on the dollar. There was also a slight run'on the Security Savings Bank. At the execution of a colored manand woman yesterday at Monroe, La., for the murder of the latter's husband, a horrible scene was enacted. The woman died with but a slight struggle, but the man by some means succeeded in freeing his arms of the cords by which they were pinioned and grasped therope above his head and one of the supports of the gallows, when the Sheriff and jailor seized his arms and held them down until death put an end to his struggles.
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MONEY MARKETS. BY TELEGRAPH. PARIS, November 26.-Rentes, 66f. 17½/2c. NEW ORLEANS, November 26.-Gold, 1151/4; 549. sight, discount; sterling, commercial, 518@ LONDON, November 26.--The rate of discount in the open market for three months bills is 21/4@2% or 3/40% per cent. below the Bank of England rates. The amount of bull on withdrawn from the Bank of England on ba!ance to-day is £10,000. Consols for money and account, 91%; 5-20s of '65, 103½; do. 1867, 1091/4; 10-40s, 1051/4; new 5s, 104; New York Central, 95; Erie, 14%; Erie preferred, 30. NEW YORK, November 26.-Money, 31/2@5 per cent. Prime mercantile paper, 51/2@8 per cent. The customhouse and sub-treasury were closed. Clearings, $30,000,000. Gold was steady at 114½ Rates for carrying, 1@2 per cent.; loans were also made flat. Government bonds were firm with a moderate business; coupons of 1881, 1231/4; do. 1865, 116½; 1865, new, 1203/4; do. 1867, 1225/8; do. 1868, 1221/2; new 5's, 1163/4; 10-40s, regular, 1164/4; coupons. 1171/4; currency 6s, 1251/8. State securities dull; Tennessee 6s, old, 46%; Tennessee 6s, new, 41/4; Virginia 6s, old, 36; Virginia 6s, new, 30½; Missouri 6s, 1027/8 Railroad bonds were strong. The largest transactions were in Milwaukee and St. Paul, Northwestern and Chesapeake and Ohio firsts. Stocks opened strong and higher, the advance ranging from ½ to ⁷/₈ per cent. in the entire list, with increased business in the leading shares. During the last hour of business the market was quiet, and prices reacted 1/4 to 4/4 per cent. from the highest point of the day. Lake Shore fell off to 62½, Western Union to 76, Erie to 16, Northwestern to 395/8, Union Pacitic to 73, St. Paul to 363/8, St. Paul preferred to €5%, Ohios to 183/4, and Pacific Mail to 403/4. Missouri Pacific declined from 138/8 to 12%. *Adams Express advanced to 102. Messrs. Ewallsidefer, cotton and commission merchants, suspended to-day. Transactions at the stock exchange amounted to 70,000 shares, of which 6000 were Pacific Mail, 10,000 Westem Union, 2000 Northwestern common, 3000 Nortuwestern preferred, 2500 Rock Island, 8500 St. Paul tammon, 3700 St. Paul preferred, 3500 Erie, 24,000 Lake Shore, 6000 Ohios, and 2000 Union Pasific. The Manufactu ers and Builders bank, which suspended payment to-day low the purpose of going into liquidation, was a smail up-town concern. The capital was originally $100,000, but according to the quarterly statement of the state of banks on the eighteenth of Here tember, 1t stood at $450,000, but was afterware reduced to $180,000. At that date the loansand accounts were $710,900; stocks, bonds and mortgages, $245,000; due from banks, $47,700; office furniture, $15,300; legal tenders, $26,300; specie, $4100: deposits, $558,600; net profits, $40 700. The bank was not a member of the clearing-house, its exchanges being made through another institution. Quotations: Western Union Telegraph, 75%; Pacific Mail, 40½; Adams Express company, 1013/4; Wells & Fargo's Express company, 831/4; American HXpress company, 603/4; United States Express company, 51; New York Central, 106; Erie, 16; Erie preferred, 25; Harlem 1331/8; Harlem preferred, 130; Michigan Central, 011/2, Union Pacific stock, 72½; Lake Shore, 62; Illinois Central, 95; Cleveland and Pittsburg, 89%; Northwestern, 391/2; Northwestern pref'd, 54; Cleveland, Columbus, Cincinnati and Indianapolis, 56½; New Jersey Central, 1053/4; Rock Island,105%; St. Paul, 36%; St. Paul preferred, 66½; Wabash, 5½; Wabash preferred, 7: Fort Wayne, 97%; Terre Haute, 5: Terre Haute preferred, 20; Chicago and Alton, 971/4; Chicago and Alton preferred. 105; Ohio and Mississippi, 188/4; Indiana Central, 45/8, Chicago, Burlington and Quincy, 113; Hannibal ana St. Joseph, 231/4; Delaware and Lackawanna, 119%; Atlantic and Pacific Telegraph, 181/4; Central Pacific bonds, 1061/4; Union Pacific bonds, 1083/2.
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MANUFACTURERS' AND BUILDERS' BANK. This bank of deposit suspended payment yesterday morning. The first notification of the event was found in a little strip of paper pasted on the doors at the usual opening hour, stating "that this bank will gu into liquidation and pay all its indebtedness." The stoppage was a source of wonderment to the public at large, as well as to the friends of the institution, although it had been a step under consideration by the directors for some time past. The suspension was brought about by the general stagnation in trade and building, which has greatly interfered with the business of the bank, it having hitherto had a large clientèle among the contractors and others who have some time since been engaged in erecting blocks upon blocks of buildings in the neighborhood. These people used to keep large accounts with the bank; but as all building operations have ceased of late there has been a corresponding falling off in the bank's business. Seeing no immediate prospect of improvement, it was determined to go into voluntary liquidation for the interest of all concerned. This bank, it will be remembered, were sufferers to some extent by the failure of Henry Clews & Co. They loaned that firm $150,000, taking as collateral security $365,000 worth of Burlington and Cedar Rapids and other railroad bonds. These bonds have been gradually realized on, and thus far there is but $50,000 of the debt remaining unsettled. This, too, will, it is expected, be fully covered by the securities on hand, so that eventually the bank will sustain no loss. The locking up of so much money, however, at the time was a serious blow, and was one of the many causes which assisteu to bring about the present result. The following is & statement furnished by the officers yesterday, which clearly sets forth the condition of affairs:$180,000 Capital stock
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SALES FROM 212 O'CLOCK P. M. TO CLOSE OF BUSINESS. 3 O'CLOCK P. M. Rock Island Pacific Mail U8! 5.20 Rec. '67 100 63.10534 200 40% 12288 10,00 St Paul Mich Central Georgia St 78, N 300. b3. 36 12 100 6412 1024 5,000 100 83. 36 12 Erie Railway Mich South 8 100 36% 100 16's 10512 10,000 16 St Paul Pf 300. Maryland Coal 100 16 b3. 6658 100 18 10 Tol and Wab North West Pref Am Dist Tel 10 5 300 54 14 20 100 bs. Chic and Alton 200 54 1g A and P Telegraph 100 860. 97 10 54 200 1814 Han and St Joseph Lake Shore Western Union 100 2312 bi. 62 100 200 7618 Pacific R of Mo 6214 300 76 1.100 100 1234 400 83. 6/14 b3. 76 200 100 12% 83. 62'8 1,200 Adams Express C, & & IC 6248 200 102 134 100 4 34 Union Pacific Pacific Mail 73 200 100 b3. 40% FRIDAY, Nov. 26-P. M. There is no little discussion going on in the street during these dull days, attended with considerable feeling, regarding the effect upon the general speculation of the rule as to commissions for buying and selling stocks, adopted last February, and under which two members of the Board were recently suspended for six months. It is argued on the one hand that the rule requiring not less than an eighth for buying, and the same for selling, making a quarter, is calculated to restrict heavy speculative orders from the largest and most responsible operators in the streets. Many members of the Stock Exchange believe that the value of their seats in the Board is being seriously lessened by reason of the exacting character of the new rate of commissions, and are consequently beginning to be clamorous upon the subject. The day succeeding a close holiday is at no time looked forward to as one of activity, and to-day formed no exception to the general rule. What the railway and miscellaneous share market, however, lost in animation it made up in strength, for, opening at about the closing official figures of Wednesday, there was a smart advance of 14 to 1 per cent, the rise culminating soon after midday, and the afternoon market ruling very dull, while generally retaining the earlier strength. The bullish sentiment was most marked in Pacific Mail (in which 'puts" were freely offered at 40 for thirty days), Western Union Telegraph, Lake Shore, North-Western, and St. Paul. There was no special feature noted in any direction, and the market ruled quiet in the afternoon with a decline near the close of 14 to 34 per cent from the highest point of the day, a result which may have been aided by the suspension of the Manufacturers' and Builders' Bank, small up-town institution, which it is believed will be able to pay its depositors in full. The total number of shares bought and sold is reported at 75,500, of which 23,800 were Lake Shore, 10,200 Western Union, 6,100 Pacific Mail, 5,500 Ohio and Mississippi, 3,400 each of Erie and St. Paul, 3,700 St. Paul Preferred, 2,000 North-West, 2,700 NorthWest Preferred, 2,400 Rock Island, and 1,800 Union Pacific. At the close the variations in price from the final quotation on Wednesday were very inconsiderable. North-Western Preferred gained 18 per cent, and Atlantic and Pacific Telegraph, C., C. and I. C., Delaware, Lackawanna and Western, Pacific Mail, Union Pacific, Western Union Telegraph and Michigan Central each 14 per cent. Atlantic and Pacific Railroad Preferred, NorthWestern, Quicksilver, Rock Island, and St. Paul each declined 18 per cent; Central and Hudson and N. Y. Central each 14; St. Joseph. In and Missouri on Pacific, 5g per cent. The Stock Exchange will adterm at 1 o'clock to-morrow out of respect to the
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MEMORANDA. The Stock Exchange will adjourn at one o'clock tomorrow, out of respect to Vice President Wilson. To-day the following committee was appointed to at tend the funeral on behalf of the Board:-J. W. Kilbreth, Chairman; G. A, Fanshawe, John D. Wilson, J. M. Fuller, Ludlow Thomas, George H. B. Hill, Peter R Kissam, John Slayback, J. C. Carey, Mendez Nathan, S. V. White, S. H. Thayer, D. T. Worden. The following are to-day's rates of bank exchange on New York, reported by telegraph from the cities named:-Chicago, 1/2 per cent discount; Cincinnati, 1-10 of one per cent discount, and St. Louis, 1/4 per cent discount. Messrs. E. Wailzfelder, cotton commission merchants, suspended to day. The Cotton Exchange has resolved to adjourn tomorrow at half-past twelve, and the following committee have been appointed to attend the funeral of Vice President Wilson:-James J. Denman, George Blagden, Thomas Scott, Arthur B. Graves, William P. Campbell, John H. Inman, William Woodward, Jr.; Theodore Fachiri, William Whitlock, John H. Hollis. The Stock Exchange will adjourn for a similar purpose at one P. M. to-morrow. Owing to the obsequies we have no Washington reports to-day. The Manufacturers and Builders' Bank, which stopped payment to-day for the purpose of going into liquidation, was a small uptown concern. The capital was originally $100,000, but according to the quarterly statement of the State banks on the 18th of September, it stood at $450,000. At that date the loans and discounts were $710,900. The stocks, bonds and mortgages, $245,000; due from banks, $47,700; office furniture, $15,300; legal tenders, $26,300, and specie, $4,100. The deposits were $558,600 and net profits $40,700. The bank was not a member of the Clearing House, its exchanges being made through another institution.
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PRICE TWO CENTS. THE CITY'S SAVINGS BANKS. WISE CONFIDENCE OF DEPOSITORS IN SOUND INSTITUTIONS. Condition of the Suspended Banks-The Mntual Benefit Added to the List-Men who Handle the Savings of Working People. Notwithstanding the closing of several weak so-called savings banks. there has been but little if any run on the really sound Institutions. The Bank for Savings, the Seamen's, the Union Dime, the Bowery, the Dry Dock, Greenwich, and other concerns with a secure surplus. the entire confidence of depositors. West Side Savings Bank also, as The possess though is reported not long established as some others, so in excellent financial condition. and its Investments are of the best character. The Secretary of the Mutual Benefit, in the building, explained to a SUN rehow the bank come porter Staats Zeitung yesterday had in the dowa Sun to its present condition. When a few years ago, the Mutual Benefit business, and was on of prosperity, its deposits one did building, high a tide most promising at time the approaching a militon dollars. But the panie and exposure of the Third Avenue Bank Irregularities caused assets to decrease, until now the deposits are loss than $400,000. The bank holds no Southern bonds except $20,000 ten per cont. It Texas, which are in demand at about par. also holds about $7,000 of Wyoming county, New Jersey Central Railroad Land Improvement and American District Telegraph and $53,000 of real to estimate the probable loss to condition of the bank is Company. Company, ficult but the estate. such depositors, report It is that dif- Su- of perintendent Ellis. on receiving the deEx miner. ordered it to take no more the posits. The officers are Gen. Charles K. Graban. President: Col. Richard Vose. First VicePresident: Mr. Joseph Dixon, Second Vice- and President: Mr. G. H. Benedict. Secretary, Willard Buliard. Chairman of Executive Com- be mittee. The trustees. who are believed to of interrity. are under bond to the amount men of about $10,000 to secure a deficiency in The the assets which appeared over a year ago. trustees are Silas C. Hay, Richard Vose, Theo. W. Morris, Martia B. Brown. Chas. K. Graham, Geo. W. White, Noab A. Childs. Joseph Dixon, Dinsmore, G. H. Benedict, Willard Bullard, Moses S. Beach, B. T. Morgan. John M. Cooney. Thomas J. Hall, George E. Kasmire, and H. Edwin Tromain. The names of the trustees of the Central Park Bank are Phillip Smith, John G. Carey, ChaunSmith, John Dunkak, John P. Morrecella, cey Francis Blessing. Henry McCullough. Michael Geheban, Michael Kane, John Haley. Henry McCabe, and John Moran. Blessing, Geheban, McCabe, and Moran resigned when the bank gos ulties, but their resignations had not been into accepted. George Hoffman is reputed to be a millionaire, and lives on Fifth avenue. There foris some talk of the trustees making up the ty odd thousand dollarsdue the depositors. Judge Westbrooke will to-day sign the order removing Mr. Carman from the receivership of the Third Avenue Bank, and appoint his successor. Superintendent Ellis went to Albany yesterday, but will return in a few days to complete the examination of the banks. Meantime his Examiner. Mr. George W. Reid, busily attending to his work. At the People's Bank the President. Mr. Rodannounced to depositors that the bank 80 gets, would be able, in his opinion. to pay 75 or THE cents on the dollar, the amount named by SUN several days ago. Mr. William A. Butler, the new!y-appointed receiver. has taken possession of the Manufacturers' and Builders' Bank, and is preparing . statement for the creditors. It is believed there will be but little left of the capital, after the depositors have been paid in full. Mr. Marshall, President of the Security Savings of Bank. has sent the following as the results the examination by Mr. George W. Reid: Assets. $237,482 23 Bonds and mortgages. Fifth
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THE SAVINGS BANKS. The Third Avenue, the Manufacturers' and Builders'. and the German Up Town. Mr. John B. Manning, broker, of 78 Broad way, testified yesterday in the case of the ex-officials of the Third Avenue Savings Bank. He exbibited the entries of his sales of Louislana levee bonds and of Alabama. Virginia. and Geo. gia bonds in 1873 and 1874. Levee bonds to the amount of one million dollars were issued in 1866, bearing eight per cent. interest, and due in 1886. These were the only levee bonds disposed of in the United States, the other issues having been sold abroad. The State of Louisiana defaulted in the payment of Interest on the levee bonds in 1873, and no interest had been paid since. An injunction was also issued to prevent the funding of the bonds. The result was that the bonds were almost unsalable, and the few transactions that were effected were at about 20 centa on the dollar. The bonds had not im: roved. Mt. Mannine also quoted his sales of Alabama bonds, bearing 8 per cent. interest. which averaged 45 cents on the dollar. Virginia old bonds had been sold at 35. and the consols At 45 to 53. Georgias changed bands at almost 90. All the above bonds figured at par in the Third Avenue Bank statements. The bearing was adjourned until Monday. A person holding $1.000 worth of stock in the broken Manufacturers' and Builders' Bank hss be. gun legal proceedings for the removal of the receiver. Mr. William A. Duncan. The bank of. ficisle. who support Mr. Duncan, have procured the signatures of a majority of the depositors to a paper in favor of retaining him as receiver. The officers say that the bank will pay every depositor in full. Mr. Carman yesterday delivered up the keys of the Third Avenue safe to Mr. Hurd. and accountants will be busy to-day examining the books and securities. There is excitement among the depositors of the G rmaa Un-town Savings Bank A large meeting was held last evening in a saloon near the bank. The trustees were loudly nathernite tized. On motion of Mr. Ashbel P. Fitch. it was resolved to hold a general meeting of the depositors at Terrace Garden, 149 East Fortyeighth street, this evening, and there to call upon the trustees to explain their position. Mr. Christian Schwartz. the former President, and Mr. Schaffner. the late Secretary. have not been Been at the bank since the suspension. There 18 a movement among the depositors of the Mutual Benefit Savings Bank to hold a publie meeting with & view of compelling the trustoos to DAY the difference between the deposits and the assets.
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SUMMARY OF LAW CASES. Argument in the Barrmore contested will case was concluded yesterday afternoon before Surrogate Hutchings. Decision was reserved. Paul V. Gross, who was arrested on a charge of obtaining money under false pretences, has been honorably discbarged by the Grand Jury, there not being sufficient grounds for his indictment. Leave was granted yesterday by Judge Davis to William E. Butler, receiver of the Manufacturers and Builders' Bank, to sell, at $56 each, thirty-eight bonds or the Utica, Ithaca and Elmira Railroad Company pledged to the Chatham Bank to be paid on 120 days' drafts on England On application yesterday on behalf of the German Eptown Savings Bank, Mr. John E. Parsons was substituted, by order of Judge Davis, as counsel, in place of Adolph Levinger, under arrest upon a charge of embezzling the funds of the bank. An alternative mandamus was yesterday granted by Judge Davis against the Board of Health, directing it to enter on the burial records the name of Mary C. Goodwin, instead of Mary C. Goodman, or show cause why the alteration should not be made. The writ is made returnable morrow, A judgment was entered in the County Clerk's office yesterday in favor of the Trenton Banking Company against Duncan, Sherman & Co. for $136,000. The suit upon which this judgement was obtained was brought to recover money on deposit at the banking house at the time of its suspension. Application was made by Henrietta Hurt to the Su. preme Court some time ago for a writ of habeas corpus to compel her husband, who is separated from her, to Testore to her the custody of their child. The husband answered that the child died in Bellevue Hospital. To 5nd out whether this was the case the Court rejerred the matter to Nathaniel Jarvis, Jr. He reported yesterday in favor of the wife and against the husband's story that the child was dead. Catherine Davis, an administratrix, brought suit in the Superior Court, before Judge Freedman, against a William Hickman, to recover $5,000 damages for the death of her husband, caused, as 18 alleged, through the negligence of the defendant. The deceased was employed by the defendant in tearing down an old build. ing, and, as the widow claims, without proper facilities to do the work, and while so employed was killed. Judge Freedman yesterday dismissed the complaint, on the ground that no negligence had been shown. The case of Charles L. Lawrence, indicted in the United States Circuit Court, for the alleged forgery of the name of F.L. Blanding upon owner's oaths and Importer's entries, and also with presenting the same at the Custom House, with intent to defraud the United States, was continued yesterday until this morning. Application has been made by the counset for the defence to examine certain papers in the hands of the United States District Attorney, and he requested this delay for consideration of the request. Mr. Wade brought suit nineteen years ago against Anthony De Leyer for an accounting on a part-
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MANUFACTURERS' AND BUILDERS' BANK. William A. Butler, receiver of the Manufacturers' and Builders' Bank, has filed his detailed inventory of the condition of the bank and of his payments. His general statement is as follows:
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ONE BANK'S EXHIBIT. Figures that may Interest the Manufacturers and Builders' Depositors. Mr. William A. Butler, receiver of the Manufacturers and Builders' Bank, filed with the County Clerk on Friday bis Inventory of the bank's assets and liabilities, and of the receivet's payments, as follows:
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FINANCIAL EMBARASSMENTS. REPORTED BANKRUPTCY OF STURGES & CO.-SUSPENSION OF B. B. TILT & BON-REMINISCENCE OF BLACK FRIDAY. A. Butler, the receiver of the Manufacturers' and Builders' Bank, has applied for and obtained from Judge Donohue thirty days' further time to make a dividend. The ninety days within which be was originally required to make a dividend expires to-day. He states that his total receipts have been $193,685 30. His total payments, principally to the Chatham National Bank, on loans secured by collaterals, and of loans by the Germun Up-town Savings Bank, are $156,390 76, leaving $37,294 54 on hand. The enpaid indebtedness is about $210,000. He expects to receive within 30 days enough to enable him to make a substantial dividend of 35 or 40 per cent. A petition has been filed to have the firm of Sturges & Co., commission merchants of No. 31 South-st., adjudged bankrupts, on the ground of the suspension of their commeretal paper forty days. The firm consists of James S., Peter D., and Thomas T. Sturges. The following are the creditors who make the petition George W. M. Sturges, $38,000; Susan Sturges, $25,700; Ebenezer H. Batch, $5,250; T. C. Bennett, $3,972 84. The specific act on which the petition is based is that on Dec. 4 the firm failed to pay seven notes for $18,135, made to the Fourth National Bank At the office of B. B. Tilt & Son of Broome-st., the representatives of the firm said yesterday that the suspension of their Paterson silk mill and New-York house would probably be only temporary, as their assets were largely in excess of their liabilities. Their suspension was due to the fact that they had met with some losses through the failures of others. Pearce & Co. of Boston, who failed, owed them $70,000, in addition to which Tilt & Son were liable on paper indoreed for a large amount. In addition to this, they had suffered from tires in the mills at Paterson. The Phenix Mills, of which they were propriotors, employed between 800 and 1,000 hands, who will be thrown out of employment until tue resumption of business. The liabilities of the firm are estimated at about $350,000. A meeting of the creditors was held yesterday, and a committee appointed to examoun the flem's accounts. The creditors of Clark & Russell met yesterday before Register Allen and accepted the first dividend of 15 cents on the dollar. K. W. Martin, jr., a stock and gold broker who falled during the first Black Friday panio, has the a petition in bankraptey. His liabilities are well distributed. Heinchides among his assets several elame krowluk out of the Dinek Friday operations. Among them is one against Jay Could for $189,389; against Juy Gould and Albert Boyers, 100,000; against Smith, Could, Martin & Co.,
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MUNICIPAL NOTES. The Board of Apportionment held a short session at the Mayor's office yesterday afternoon. Mayor Wickhain, Alderman Lewis and Tax Commissioner Wheeler were present. An application was received from the Board of Education for a transfer of $100,000 from the un. expended balance of their account for 1875 to the appropriation for 1876, which was laid over. No other business of interest was transacted, and the Board adjourned to meet on Tuesday next. A regular meeting of the Board of Aldermen will be held to-day. Several important matters will be up for consideration, among them the Croton water and Hackman's resolutions. Comptroller Green being absent yesterday no meeting of the Sinking Fund Commissioners was held. Mr. Charles H. Swan was sent to Albany as the Comptroller's representative, with a copy of the lengthy document dilating upon the administration of city affairs in answer to a resolution of the Legislature calling for such information. Among the callers upon Mayor Wickham yesterday was Colonel William T. Pelton, nephew and private secretary of Governor Tilden. The Aidermanic resolutions in recognition of courtesies extended to representatives of the Board while on a trip to Ireland with the American Team have just been shipped to Dublin. They are beautifully engrossed, and will be presented to the Irish Team. An order was yesterday filed in the County Clerk's office giving Mr. William A. Butler, receiver of the Manufacturers and Builders' Bank, thirty days addi tional time in which to pay the first dividend. He has now on hand some $37,000, and expects to realize as much more at the end of this thirty days, when he expects to pay thirty-five per cent to depositors.
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JOTTINGS ABOUT TOWN. Judge Curtis has granted an injunction against the use by T. A. Brown of the title "Piqued." James C. Rice Post No. 29, G. A R., annual Camp Fire on Monday evening next at 58 West Foarteeath street. Señor Holgado y Cruces and Detective Henry W. Davies returned yesterday from Washington, whither they had been to see the Spanish Minister. The semi-annual book fair, participated in by nearly every extensive American publisher, is to begin in this city on Monday next and last four days. The taxable costs in the $6,000,000 suit against Tweed will DC about $12,000, exclusive of the one per cent. allowance asked for by the city's attorneys. "The New York Stage of To-day" is the subjeet of the Rev. Henry Morgan's lecture in the large hall of the Cooper Union, on Sunday evening next. William A. Butler. receiver of the Manufactarers' and Bulidera' Bank, has been authorized by the Supreme Court to pay to the bank's creditors a dividend of thirty-tive per cent. The theatre billboards are to be banished from the sidewalks, the Common Council having BUStained the Mayor's veto of the ordinance permitting their erection, 11to9. In compliance with the request of the Knights of Si. Patrick and of the Friendly Sons, Manager Stuart will repeat his St. Patrick's evening entertaiament tomorrow night in the Park Theatre. The Fifth Avenue Theatre will offer an extra matinée to day, being the one hundredth performance of Pigue The theatre 16 to be decorated in green, and gold and silver change. satin programmes, photographs, &c., are to ne given. The celebration to be OSD tinued on Saturday.
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SUMMARY OF LAW CASES. Judgment was filed yesterday in the County Clerk's office by the Metropolitan Gaslight Company against the city for $133,343 92, for lighting the upper end of the city for 1874. The Coroners and their deputies yesterday, through counsel, filed in the County Clerk's office judgments amounting in the aggregate to $18,462. being the balance on fees for the quarter ending December 31, 1875. Two Austrian brothers, Leopold Nettel and Sigismund Nettel, were yesterday arrested on the affidavit of Hugo Freitsch, Austrian Consul, on a charge of issuing forged papers, by which they, as alleged, defrauded one Eloise Haase of the value of 70,000 guilders. On the usual search being had a bank book account was found upon them, the deposits therein being to the credit of Ignatz & Frederick Reichter, under which names they represented themselves. Commissioner Osborne held them for examination under an application of extradition, to be held on Friday next. In case of the injunction granted on application of the Industrial Exhibition Company restraining Morgenthau, Bruno & Co. from acting as its agents or disposing of its bonds, Judge Lawrence yesterday decided that unless the plaintiffs will consent to refer all the issues and proceed with the hearing from day to day the injunction must be dissolved. An order of Judge Donohue, of the Supreme Court, was filed yesterday in the County Clerk's office directing W. A. Butler, receiver of the Manufacturers and Builders' Bank, to sell at auction stocks and bonds found as ass^ts of the concern, including bonds of the Burlington, edar Rapids and Minnesota Railroad; the Seima, Meridian and Memphis railroads; stock of the Empire Laundry, the New York Mutual Manufacturing Company and improvement certificates of the town of Guttenburg, N. J. Deputy United States Marshal Holmes yesterday arrested William Trube, at the corner of Seventieth street and the Boulevard, on the charge of carrying on an illicit distillery at that place. The prisoner was taken before United States Commissioner Shield and held for examination.
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M. CLANCY, jr., Comptroller R. V. HARNET, Auctioneer.-The undersigned, as Receiver of the Mannfacturers' and Builders' Bank, will sell the following-named promissory notes, judg. ments. and securities, by order of the Supreme Court, at public auction. by R. V. Harnet, auctioneer, at the Exchange Sales rooms, No. 111 Broadway, in the City of New. York, at 1 o'clock on the 3d day of February, 1877: PROMISSORY NOTES. Due. Amount Indorsers. Makers. 1875. $46291 Calhoun Wood June 30. Calhoun Wood 2,500.00 James Meagher. April 16 James Meagher 60 00 James Ryan Oct. 9.James Ryan. 60.00 James Ryan Nov. 6.James Ryan 300 00 Aug. 9.T. McLelland R. C. Haley, 1876. 100 00 Jan. 29 Jeremiah Kennedy John Riley 1875. Mar. 25 Brady's Bend Iron Co.*Brady's Bend Iron Co.6,253 99 April 27 Brady's Bend Iron Co.*Brady's Bend Iron Co.4,47342 Collaterally secured by nineteen second mortgage bonds of the Brady's Bend Iron Company, $1,000 each, principal payable Nov. 1, 1887. TUDGMENTS