The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-11-19
Tammany Bantlings Dying for
Lack of Municipal Pap.
The Guardian, the Bowling Green and
the National Savings Banks Gone
Where the Woodbine Twineth."
Which Shall Go Next s-C0mptr0ller
Green's ClIeckmate MOves-L0Ose
Way Of Banking.

NOT, OF course, surprise any one who has watched
the manguvres or the Ring tor the last few years
One interest after another has been surrounded and
captured by Mr. Tweed and hts associates, until the
aggregate was found to be too great to be handled
exclusively oy three or four men who acted as the
Great Moguls 1t would OF course, attract attention
II those men should take money belonging to minors
anu orphans out oil the Public Administrators hands,
and gamble and speculate with it; but IL might be
done easily, by lrst getting 1t into savings banks
managed by themselves. The old established saw
ings banks OF the city could not be relied TO
commodate the Ring very readily New ones were
established with rapidly and q recklessness
which might have created doubts Of their stability
in the minds OF honest men.
BY q careful reading OF the statements which we
print this morning 1t will be seen how nicely the
thing was fixed TO go round the Ring Mr.. Will
liam M. Tweed, for instance is the reputed Presi-
dent OF the Guardian Savings Bank, and Is a di-
rector IN the Bowling Green anu In the National,
which have burst The National IS, however, reg
ported to be solvent and ready to continue business
tomorrow. Mr.. Ely, the reputed Secretary OF the
Guardian, has not held that Office except In name
for years past and as ne informed our reporter
yesterday. Walter Roche and Mr.. Doughty have
managed the concern. Then again, "hank'' Smith
is President OF the Bowling Green Savings Bank,
and MIR. Tweed, Walter Roche and their associates
ara directors. Reeves f. Selmes who has
done the pious for the defunct Board OF Super
visors and the Ring masters is the Secretary Hank
Smith Is at the same time Vlce-Presdent Oh the Ma
tonal. as Walter Roche is Of the Bowling Green
bank. Mr. Mcbride Davidson, the President OF the
National, is the same who has supplied the city with
cheap safes, and Tweed and the Ring men are It's
directors. OF course some unwary depOsitors, and
some through personal friendship perhaps have de-
posted money In those Institutions, but II Is evident
now, when the crash has come upon them, that they
depended very largely upon municipal support,
which being Withdrawn, they are unable longer to
exist II their fall shall make other banks and
other deposors more careful the effect will be salu-
tary upon the community.
The Yorkvllle Savings Bank, controlled by Henry
W. Genet was reported to be In a langu!shng
condition also. but after careful inquiry by
porter the officers Of that institution declare 1t per-
lecty sound and ready to pay OF every dollar due.
They repudlate any connection OF the Ring With
their bank.
In yesterdays HERALD some account was given
OF the run" On
THE GUARDIAN SAVINGS BANK,
l64 Chatham street. OF which William M. Tweed Is
President and william L. Ely Secretary. This
institution not originally designed, OF course, TO
guardn the savings OF anybody but rather to cover
u
and worked It. II was closed yesterday altogether
voluntarily and legally by an order from Judge Bar
uard appointing Mr.. jeremiah Qunan receiver.
couple OF policemen stood guard over the Guardian
and whenever an unfortunate one appeared he OF
she was quietly informed that the money had given
out but 1t would be all right by and by. The bank
officers Kept shy OF the place and OF the people. and
Mr.. Qunlan could not be found No one was willing
talk the prospects Of creditors getting even
cents on the dollar 1t is asserted that the bank
has ample securities, and that II time is allowed
that those securities can be converted into money 1t
will meet all Its liabilities. dollar for dollar. But Ia
tive meantime 1t insists on the sixty days. notice
which the law and the rules OF The bank allow 1t
to demand OF depositors But OF course as the doors
are Closed this ormality cannot be availed OF
by depositors who must pay their grocers bills with
such promises as the guardians Of their money may
offer.
cause OF tie difficulty was the sudden demand for
large deposits and the inability OF the bank to meet
them.
On Wednesday, II Is said, dep0sitor named
James Gill presented claim for deposit amount-
lug 10 $4,000, which was not honored. He pro-
ceeded to the supreme Court and from Judge Bar
nard secured order appointing jeremiah Quinlan,
of lJ6 Water street, receiver. The same day the
Comptroller OF the city issued his warrant ior the
removal OF about Sixty thousand dollars deposited
by Pubic Administrator A. J. Rogers Tor the heirs
Trust Company. The warrant was not honored and
the check was returned.
Roche and Ingersoll the corporation charmaker,
are directors, and ex-Alderman William L.. Ely the
0stenSlblc secretary. The connection oil these gen
uemen With the institution Is III the eyes OF many
ENOUGH TO DAMN IT,
and 1t Is said that this led TO Mr.. Green's action.
Yesterday a reporter sought Tor some OF the
officials and the receiver To get some Information as
TO It's financial AFFAIRS. The front OF the bank be-
uayed no signs OF occupancy. In the rear were
found doors despatched with Five Points Nth and
presenting the appearance OF not having been
n ro the
vigorous Knocks brought out two 1ashy dressed
clerks who, on the reporter stating his business, re-
the Secretary, Mr. Ely. After more than an hours
search for him he was finally iound located IN the
OF broadway and Thomas street. On the wav
tbiher the reporter dropped In 10 see Mr.. VIM. NJ.
AFFAIRS OF the concern, as he was not active par.
ticipant In its ADMINISTRATOR; that his name ana
Mr., EIys had been asked r,v as =, officers
being found, admitted that he was secretary but
prolessed TO know nothing about the banks AFFAIRS
lie stated that the late Victor NJ Rice and himself
were In 1t at is organization in 1868 as PRESIDENT
and secretary respectively; mat few years later,
wnen he ely had oJher duties OF an urgent cnarac
ter To attend 10, one William II. Doughty, by re-
olutlon oil the Board, was appointed Treasurer
doughty mad been secretary de Jac'o. tie aud
Waiter Roche had run the concern together. Mr..
Ely declared that Mr. Tweed mad nothing To do win
himself, aud 10 urge his friends poor and rich 10
do so, and he had even urged his own servants to
deposit in IT, lie believed the bank 10 be
IN A fERFEcrLY SOLVENT CONDITION,
from representations made to him by Doughty. He
SAID ne had no doubt tlat the bank mad very
large SPECIAL deposit account so that balances lett
1t were sufficient TO pay all drafts either on the
special or sayings banks deposit and unless the
mortgages which loans mad been made were
fraudulent II was Impossible for The bank 10 go
der. He also stated that al ten IN the morning. ne
had called at the bank, OF when he was secretary
ana could not get In, notwithstanding he wanted to
inquire INTO It's couulti0n.
the reporter led Mr.. Ely to his own bank and
taking him around TO the rear In Worth street.
pointed 10 the iron shutters, with the remark
"KNock AND 1T WILL BE OPENED
Mr.. Ely Knocked, the shutter went up, a sign was
MADE TO 20 to the front door, Here the secretary
entered, remarkins TO the reporter "WalL until
OUT II there IL any thing Will give IL TO YOU"
Alter an absence OF fifteen minutes he came out
SAID there was no one within but the receiver and
clerks; that they would not give statement oil assets
ana liabilities and would not know the conoition OF
affairs until after nine O'Clock r. NJ Ely then
moved OF up Chatham street in search OF his proxy,