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Show TIio lfitnlinlfaii Loan. Kirtv Yoiur, Xov. 17. It was rumored on the street this evening that tbo Manhattan Bank bad bor rowed $1,000,000 on lean certificates frjtn the Clearing House. Thecfll-cers Thecfll-cers of the bank would not talk on the subject, and President Tappan of the Clearing House would not deny or atlirm the rumor. It vas fald by several brokers that the Manhattan Bank was in a perfectly sound condition, and the money borrowed was for the use of several of the bank's customers, who have given gilt edge security for the tame. This evening State superintend-entof superintend-entof banking, Preston, said it was definitely decided that the North Itlver bank would net resume. The directors were unable to secure the necessary fund'. It was pretty w ell understood that the result was nude necessary because of the stand taken by two of tho Wall Street banks, which insisted that unless actual cash to the amount of deposits in the bank was iu noe3lou of the bank to meet the dcjoiU the bank should not bo allowed to clear through tho clearing house. Preston Pres-ton said, from a close examination of the collaterals held By tho bank as securities for loans, he bad found that there would be a shrinkage In their actual value. This he believed vrould mike a normal deficiency. |
