Clinton Savings Bank (New York, NY)

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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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CLOSING ITS DOORS

ANOTHER SAVINGS BANK SUSPENDS. THE TRUSTERS OF THE CLINTON SAVINGS BANK VOTE TO STOP BUSINESS-SHRINKING IN DEPOSITS AND ASSETS SINCE 1875-THE PROBABLE LOSS TO DEPOSITORS. The Clinton Savings bank at No. 244 Eightave., has suspended payments. The trustees met on Monday evening, and after a careful consideration of the condition and prospects of the bank, voted, in view of the gradual reduction in the deposits and the lethargy in business, and in a spirit of justice to the remaining depositors, to discontinue business from that night. This resolution was at once sent to the State Superintendent of Banks, with the expectation that he would immediately apply through the Attorney-General for the appointment of a receiver. The Clinton Savings Bank received its charter in 1868, and in June 1869, began business at No. 244 Eighth-av., with Alfred Moore as Presi dent. It was thought that the affairs of the bank were well and economically managed, and its business gradually increased until in September, 1875, the amount of its deposits reached nearly $200,000. Alfred Moore was succeeded in the presidency of the institution by Na thaniel Ellis, who, dying in office, was sneceeded by John Mildeberger, who still remains its President. Since the Autumn of 1875 the business has gradually, but steadily declined, until the present step became advisable. Divid ends of 5 per cent on deposits less than $1,000, and 4 per cent on deposits larger than $1,000, were declared in July, 1876, and in January, 1877, though a little later than the first of the month. The interest for the last six months had not been declared when the trustees met on Monday evening, and it was largely for the purpose of considering that fact that they came together. The last statement of the Secretary, Orlando P. Smith, made the third week in June, shows the following assets and liabilities:

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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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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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Business Embarrassments NEW YORK, June 6.-Martin & Johnson, tobacco commission merchants, Front street have suspended. Liabilities $80,000; assets stated to be $100,000. The Clinton Savings Bank has closed, owing to the stagnation in business and shrinkage in values. There will probably be a loss of ten cents on the dollar.

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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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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.