Show I j I 1 GENERAL i NEWS l I r I I 4 1 1 i fIt f The Closing of tHe Marine I I It I Bank New York I > t 44 j J We are Nearly 500000 I I 11 I ShortThats All i 1 H I t I i The Failure Buejlp the Absence i L 1 > ii Ab-sence of one of the Firm t i f I J r Six Hundred Doctors in ConTention I 0 a 4 1 I Con-Tention Assembled h I t Bank Failure t New York 6The Marine Rational t Ra-tional bank ha closed J D Fish it is president of the bank A year t ago the bank purchased Booths 1 t theatre The clearing bouse is considering con-sidering the suspension It is thought J 1 r the failure is a bad one The capital of the Marine bank tt wa3 400000 Its statement on i September 22d last showed a surplus S130000 Undivided profits 862 i d j5johnDFish is cashier Grant Ward announce their j closing on account of the failure cf 1f f the Marine bank tr f A visit to the bank discovered i some fifty disconsolate depositors standing in a pouring rain around 8 1 d the closed doors ISo admittance was given to reporters No notice was posted on the door The bank t i opened with usual tune this morning i morn-ing but before noon closed abruptly i ab-ruptly without assigning a cause I The stock market was very active I t and there seemed to be some connection con-nection between the failure and the I condition of affairs at the stock exchange t ex-change The depositors judging from the appearance of those aooui the building are a wellto do class An explanation is promised for the f I afternoon j It is said on the street that the banks downfall is due to the real i I estate transactions of Pieident 1 r Fish The Post eaye The suspension of 4 J the Marine National bank was announced OI s an-nounced a little after 11 this morning morn-ing The immediate cause of the failure was the banks inability to I meet ita debts about 500COQ at the clearing noose this mrning cut the causes lying behind this are presumed pre-sumed to be real estate operations 1 of President James D Fish during the last year or two Within that time he bought Boothu theare aid L the Casiao and has also recently been building large apartment build incs the Mystic on West Thirty ninth street The reconstruction or r Booths theatre and the building of the uM < stie > have takn a great I I t deal of ready money which be is t h f presumed to have borrowed from tr4 t the bank Fish is the second vice I Ii f president of the St Louis and San p L Francfseo railroad and the Marine j bank is the registrator cffice of that i t stock It is not pesumed that this I connection had anything to do with i i 1 r the banks embarrassment though it is understood some connection t i it with either the Ontario and Western r i I t or Wfst Shore manipulations may i r i have had some influence though r probably only secondary to the real t estate operations of the president I i j ti A few minues ater 10 pcock a I gentleman made a deposit at the t I Marine National pank as he went c out he wea followed to the acor by 1 qf the bank norler who began rolling r down the iron shutters the depositor I m depos-itor ran back tD the receiving teller t who had shut his window and gone of < l out on bueiaees for an indefinite period The paying teller was still more conspicuous by hfs absence k and the depositor htd the consolation I t consola-tion of standing on the steps of the I i bank the next hour and telling his f experience to the crowd of excited i i I I depositors who gathered at the corner t It cor-ner of Wall street and Pearl within r < f I an incredibly short time Unless j the failure was the result of worse t r f if I than too heavy real estate specula lions the failure will nQt prove die I r astrous One depositor says Wall 1 I I f street generally objected to the t Ii i Marine Bank because of its family I f I character James Br Fish is president i t i i presi-dent John D Fish a nephew cash I ler and half a dozn other relah vest i ves-t I i of the president are in jpositions oft of-t trust The capital of the bank was I 5400000 New York GSome C C U I c Jr stock was bought in under the rule I for Grant and Ward Wall Street f The suspension of Grant and Ward 1 was announced at the Stock Exchange t Ex-change The firm is composed of l I i General U S Grant James DTish 1 U S Grant Jr Ferdinand Ward I About 600 shares of C C C 1 a DI Omaha and Alton and Terre Haute were closed oat under the rale also some Nickel Plate second mortgages I Among the stocks and bonds elosed out for the account of Grant I f1 Ward were blocks of Alton Terre Haute American Cable CC 1 4 C 8 11 Omaha Western Union 1 i L I Rochester Pittsburg stocks New 0 i5 York Chicago St Louis second 1 mortgage bonds The Marine Bank t t w lJ the designated depository for j ths City of New York Yesterday i the city drew a draft for 8300000 I which was part of the debit balance lr in tIle cleating house this morning and this did much to precipitate the failure The report is that a stock f firm overdrew its account at the bank yesterday 500 000 New York 6 Kiernana Wall street agency furnishes rumors that e a defalcation of 650000 accompanied accom-panied the failure of the Union Maine fl Ma-ine bank The party in question L Jt is saldjshad near relations with I tho bank the agenoy have investigated I investi-gated and get the following stteJ J 1 t L t ment The embarrassmant of Grant Ward fs taid on reliable authority to be due to the absence of one of the firm who has not been at his place of business eince Saturday Various rumors are afloat in financial finan-cial circles respecting which Grant senior member of the firm says I cannot deny or corroborate the reports re-ports current We are nearly 500 000 short Our safes are locked and until we can fiud Mr Yard I cannot can-not say how we ttand |