Harlem River Bank (New York, NY)

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EXAMINERS STILL AT WORK

No Statement of the Harlem Bank's Condition Yet Ready. A Receiver May Be Applied for After the Investigation. Everything is quiet at the Harlem River Bank this morning. Examiner Barker is busy going over the bank's books, and stated that he would not finish his examination before noon. All the bank's cash, amounting to about $8,000, principally in specie, was carted away in a grocer's wagon and deposited in % downtown bank to the credit of Supt. Preston. Cashier Hinckley denied emphatically this morning the intimation that there was any scandal connected with the bank's difficulties. Bank Examiner Judson will not say yet whether application will be made for a receiver. The wife of a wealthy Harlem business man went into the bank this morning to get some money to pay her butcher's bill. Her husband, who has a large balance at the bank, is out of town, and she was without any money at all. She was greatly disappointed when she found that the bank could give her no assistance.

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EXAMINERS STILL AT WORK

No Statement of the Harlem Bank's Condition Yet Ready. A Receiver May Be Applied for After the Investigation. Everything is quiet at the Harlem River Bank this morning. Examiner Barber is busy going over the bank's books, and stated that he would not finish his examination before noon. All the bank's cash, amounting to about $8,000, principally in specie, was carted away in a grocer's wagon and deposited in a downtown bank to the credit of Supt. Preston. Cashier Hinkley denied emphatically this morning the intimation that there was any scandal connected with the bank's difficulties. Bank Examiner Judson will not say yet whether application will be made for a receiver. The wife of a wealthy Harlem business man came into the bank this morning to get some money to pay her butcher's bill. Her husband, who has a large balance at the bank, is out of town, and she was without any money at all. She was greatly disappointed when she found that the bank could give her no assistance.

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PRESTON TO VISIT THE BANK

Decision May Be Reached and Made Known This Evening. Bank Examiner Judson, who is in charge of the suspended Harlem River Bank, said this morning that Bank Superintendent Preston is in town, and will visit the bank this evening. when a decision will probably be reached and promulgated. Many depositors and stockholders were at the bank this morning. but there was no excitement, all seeming to be destrous for a favorable decision and an early resumption of business by the bank.

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PRESTON TO VISIT THE BANK

Decision May Be Reached and Made Known This Evening. Bank Examiner Judson, who is in charge of the suspended Harlem River Bank, said this morning that Bank Superintendent Preston is in town, and will visit the bank this evening. when a decision will probably be reached and promulgated. Many depositors and stockholders were at the bank this morning. but there was no excitement. all seeming to be desirous for a favorable decision and an early resumption of business by the bank.

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D.B. SICKELS NAMED. Appointed Temporary Receiver of the Harlem River Bank. American Surety's Vice-President Must Give a $250,000 Bond. Funds That He Receives to Be Deposited with the Union Trust Co. Application was made to Judge Bookstaver, of the Court of Common Pleas, to-day by Deputy Attorney-General Hogan for the appointment of a temporary receiver for the Harlem River Bank and the usual injunction order restraining creditors from proceeding against the bank while in charge of the receiver. Deputy Attorney-General Hogan, accompanied by Bank Superintendent Preston, entered the court-room a few moments before 11 o'clock. As soon as Judge Bookstaver had disposed of a motion then before him, Mr. Hogan made the formal motion and then said: "1 will say to Your Honor that the bank is now in the hands of Bank Supt. Preston, and so far as his examination has gone he thinks the capital impaired to the extent of about $17,000. The assets of the bank will probably be between $200,000 and $300,000. "I wish to suggest the names of two gentlemen, either of whom will be acceptable as receiver. They are Charles K. Beekman, an attorney of 111 Broadway, and David B. Sickles, Vice-President of the American Surety Company.' Counsel for the stockholders of the bank, after stating that the depositors would be paid in full, urged the appointment of Mr. Beekman. He was seconded in this by counsel for the bank itself. Bank Superintendent Preston then stated that the Banking Department preferred Mr. Sickles. "They are both good men," said Judge Bookstaver. "I will consider the matter and give a decision in an hour. At 12.45 o'clock Judge Bookstaver signed an order appointing David B. Sickles temporary receiver of the bank. The receiver's bond is fied at $250,000, and he is directed to deposit the funds coming into his hands as receiver with the Union Trust Company. The troubles of the Harlem River Bank were first brought -0 notice last week Thursday, when it was announced that the Garfield National Bank had refused to act longer as its Clearing-House agent. The Harlem River Bank officials protested that the action was uncalled for, and that the bank was perfectly sound, but hardly had the words been spoken when the institution was closed by Supt. Preston and Examiner Judson placed in possession. The same day Mr. Judson announced that the bank would not resume business. It is said that the State Department had been watching the Harlem Bank's condition for some time and had required new security on some of its loans. Among the bank's heaviest borrowers were said to be its own directors.

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RECEIVER APPOINTED

NEW YORK, May 2-David B. Sickles was today appointed temporary receiver of the Harlem River bank This institution was closed last wee:. pending luve.. tigation of its affairs. The capital of the bank was found to be impaired about $17,000.

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HARLEM RIVER BANK RECEIVERSHIP

DAVID B. SICKELS APPOINTED TO WIND UP THE INSTITUTIONS AFFAIRS. Upon an application by Deputy Attorney-General Hogan, Judge Bookstaver, in the Court of Common Pleas yesterday, appointed David B. Sickels, vice-president of the American Surety Company, receiver of the Harlem River Bank at No. 2,007 Third-ave. Before the application was made in court Charles M. Preston, the Superintendent of the State Banking Department. had prepared the appended report of the condition of the bank: ASSETS. $321,362.08 Loans and discounts

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Sickles Appointed Receiver

NEW YORK, May 3.-David B. Sickles has been appointed temporary receiver of the Harlem River bank. This institution was closed last week by the state superintendent of banking, pending investigation of its affairs. The capital of the bank was found to be impaired about $17,000.

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Sickles Appointed Receiver

NEW YORK, May 4.-David B. Sickles has been appointed temporary receiver of the Harlem River bank. This institution was closed last week by the state superintendent of banking, pending investigation of its affairs. The capital of the bank was found to be impaired about $17,000.

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BANK STOCKHOLDERS MEET

They Discuss Affairs of the Harlem River Institution. The stockholuers of the suspended Harlem River Bank held a meeting today at the offices of Albert A. Stein, 205 East One Hundred and Tenth street. The meeting lasted two hours. Mr. Gill, President of the Harlem River Bank, presided. It was decided to appoint a committee of two to confer with the bank's counsel, In order to make a proper presentation of its affairs and the wishes of the stockholders when the bank's case was heard. The stockholders are said to be willing to have the bank resume business if it can do so on a fair basis.

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DUE TO PECULATIONS

The Affairs of the Harlem Bank Have Taken on Another Phase and J. J. Kean, the Bookkeeper, will be Arrested for Stealing Funds. NEW YORK, May 18-The affairs of the Harlem River bank, which on April 26 was closed by order of Superintendent Preston, of the state banking department, took on another phase to-day, when Justice Ryan issued a warrant for the arrest of Bookkeeper J. J. Kean. The warrant was issued on the application of Superintendent Preston who charges Kean with having stolen from the bank between $19,000 and $20,000. Superintendent Preston gave out a statement to-night to the effect that after the receiver assumed charge of the bank he called for a presentation of all pass books held by customers of the bank. Out of over 1,000 accounts about 900 pass books have been presented. In balancing the pass books a number of discrepancies were discovered, which disclosed an apparent defalcation of between $19,000 and $20,000. From this statement it would appear that the closing of the bank's door was due directly to Kean's peculations, as on May 2 it was stated that the bank's capital had been Impaired to the extent of $17,043. The receiver of the bank, David B. Sickles, stated that the rumor that the arrest of the officers and directors of the bank was contemplated had no foundation. "As soon as the experts now examining the bank's books get further along in their work it will develope that Kean had accomplices. The total defalcation will foot up fully $30,000."

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Harlem River Bank Defalcation

NEW YORK, May 18.-Receiver David B. Sickels, of the Harlem River bank. has discovered a defalcation of nearly $20,000 in its accounts. A warrant has been issued for the arrest of the bank president, J.J. Keene.

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Was Charged With Stealing $30,000. NEW YORK, May 19.-J. J. Keant, the keeper of the suspended Harlem River Bank, who is charged with appropriating nearly $30,000 of the bank's money, left town on Wednesday night, and no trace of him can be found. It is said that warrants will be sworn out in connection with the bank's shortage.

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THEIR BONDS WORTHLESS

So Says Receiver Sickels of Harlem River Bank Officials. Defends H mself from Criticisms of Depositors. Col. David B. Sickels, receiver for the defunct Harlem River Bank, was somewhat indignant this morning at the action of the depositors and shareholders of the broken bank at a meeting held last night, at which it was openly charged that the receiver was endeavoring to protect the officers of the bank and that outsiders had obtained access to the books, while they were refused even a list of the depositors. They also attacked Col. Sickels for not endeavoring to bring Bookkeeper Kean back from and

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SETTLING HARLEM RIVER BANK AFFAIRS.

Judge Bookstaver, of the Court of Common Pleas, yesterday confirmed the report of William J. Lardner, who was appointed referee to determine as to the compensation due to Messrs. Trenholm, Teele and Dennis, the accountants who made the investigation of the books of the Hariem River Bank.

The accountants will receive $2,000 for their work. The stenographer's bill for $58.75 and the referee's bill for $200 was also passed upon, and Receiver David B. Sickels was ordered to pay them.

President Putsch presided at last night's meeting of the depositors of the bank. Chairman Reilly, on the part of the Executive Committee, submitted a report recommending a permanent organization of a depositors' association, and recommending the retaining of Mr. Epstein as its attorney. His figure was $250 as a retainer and $500 at the completion of the work. It was finally decided to authorize the Executive Committee to confer with Mr. Gayton, who offered to do all the work for 2 per cent of the money secured from Receiver Sickels. Ernest Fuchs, a liquor dealer, of No. 1,759 Lexington-ave., made the startling statement that a Mr. Sharkey, who lived in his house, claimed that he had, through a friend, secured every cent of his deposit from Receiver Sickels. Another meeting will be held on next Wednesday evening.

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CONDITION OF THE HARLEM RIVER BANK

David B. Sickels, the receiver of the Harlem River Bank, has filed in the Court of Common Pleas his report of the condition of the bank's affairs up to the present time. He finds, according to the books of the bank, that the total assets amounted to $423,728 87, and the total amount of the liabilities to $403,514 33. The receiver has collected in cash to date the sum of $98,237.01 and has disbursed $76,281 64. There is now in his control in the State Trust Company $21,933 37.

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Receiver Sickels in Court

A motion was made before Judge Glegerich. of the Court of Common Pleas, to-day by counsel for David B. Sickels. receiver of the Harlem River Bank, for permission to pay to Lueder Pieper, owner of the premises. 2007 Third avenue. $475, and surrender the lease of the property. Receiver Sickels alleges that the bank had a lease of the property for three years, and that since the failure of the bank Mr. Pieper had refused to allow the releasing of the property. Judge Giegerich signed an order authorizing it.

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Receiver Sickels in Court

A motion was made before Judge Glegerich, of the Court of Common Pleas, to-day by counsel for David B. Sickels, receiver of the Harlem River Bank, for permission to pay to Lueder Pieper, owner of the premises, 2007 Third avenue, $475, and surrender the lease of the property. Receiver Sickels alleges that the bank had a lease of the property for three years. and that since the failure of the bank Mr. Pieper had refused to allow the releasing of the property. Judge Glegerich signed an order authorizing it.

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THE EAST SIDE BANK CLOSED

Continued from First Page. was not paying expenses and was running behind in its business, and at length we stepped in and took possession in order to prevent loss to depositors." "Will the depositors lose anything?" "I feel confident that there will be no loss to the depositors, and it is possible that the stockholders will not lose much, but a receivership is expensive and it is hard to say what will happen after the bank is in the hands of a receiver." "The affairs of the bank will, then, be closed?" "Yes, It will be impossible for the bank to go on again." "You do not feel that the State Banking Department was remiss in allowing the affairs of the bank to get in such a condition?" "No. We have kept watch of the bank and have taken possession in time to prevent loss to the depositors. I do not think the public can accuse the department of failure to guard the interests of the public in the banks. It is not yet certain that the depositors will lose anything in the case of the Madison Square Bank or of the St. Nicholas Bank. The depositors can recover from the stockholders, under the law that makes a stockholder responsible for twice the amount of his stock." "In the case of the closed Harlem River Bank, where there was a defalcation, will the depositors lose anything?" "That will depend upon the question as to the responsibility of the stockholders."