The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-11-20
TAMMANY BANKS.
What the Public Think and What Depositors
May Expect National Savings
Institution in Particular. -sefk

The publication IN yesterdays HERALD OF the par.
ticulars respecting those shaky institutions called
savings banks, as created and promoted by the gen.
tlemea who lately so admirably managed munich
pal matters this city, has, very naturally, caused
tremendous excitement among all
classes Of the community, and II anything
was wanting TO sink them deeper In
the foul abyss into which they have plunged them
selves 1t was tnls-the incorporation OF the hard
earned savings OF the industrious classes ana future
sustenancc OF widows and orpnans-and this only.
that was capable OF dong It
The frank and open statement made to
our reporter and published In our last
issue by the Vice President Of tile Ma
tional savings Institution, at tho corner OF
Houston street and Broadway, Mr.. Henry Smith,
appears examination not TO be what he Claimed
for It; and while stating that the bank was prepared
to open on Monday morning and pay all demands
he must have been fully aware that all demands had
not even that day been met, and that deposltor
mad applied for the appointment OF receiver to
the concern In consequence thereof. SO much for
the statements OF presidents vice presidents or
trustees OF shaky institutions. The following are
the true particulars = r
On application Of Mr.. Charles A. Hon, deposltor
TO the amount OF 1854, the National savings BaDk ~
the corner Of houston street and broadway, notOled
him on saturday that they were unable 20 meet me
/ demand. Mir. Hoirs attorneys, MessrS ilatt, Ge-
I rard * Bulkey, applieu 10 HIS HOuOr Judge Bdr-
nard for the appointment OF receiver Ine petition
oil the palnrin was granted and Mr.. Edward Schelt
! appointed receiver. Mr. Scuel - well known
citizen, connected with tue Manhattan Savings
Bank, corner OF Blocker street. ana BloauWay. Hls
brother. MIR. Richard Scne!l became ms oonusnan
to the amount OF $4,000 Tor tue lalthiui perform.
ance OF MS trust. This morning Mr.. Scell WI! take
possession Of all the assets OF tue concern aud pro.
coed TO ascertain It's status, with me nope
OF satisfying in full all the obligations OF the instit-
| ton, as It's liabilities are small. MI wafer
Roche, one Of the directors lnrnished alu 10
the amount OF $4,000 IN cash from MS
goEn private means IN order 70 secure the
dcposors from any serious Inconvenience on Satur-
/ day but unfortunately he Was not notified IN ume
oi ths true condition u affairs. aud his money wds
received alter the doors were closed Ti's amount,
- IS believed viii insure to the acpostors the full
/ ,iiilldaiiop 0 their claims. Mr.. Roche also lur.
! .nis,ed on Saturday values to the amount OF
| 100000 IN unencumbercd real estate 10 the
receiver OF the Guardian Savings BANK, and
also $40 600 OF mortgage on us own private resi-
dence To the Bowling Green Savings Bank. The said
mortgage 10 converted into funds for the llluhla
( lion or their Indebtedness Immediately. Adirecto
OF one OF these institutions informs uS that nat
others OF the trustees OF the several savings bank
come forward US promptly as Mr.. Roche W nm sdct
\ material aid he did, the inst ltut0ns w0uid SUI
be on their feet and able 70 resume business Defor
the fact OF their insolvency became widely known
Ii IL further stated by parties who are pretty Iuli
posted that all three OF the institutions VIII pay
u full; NHt tho prospects OF their ever reSuMiny ar
very meagre. IL is only essary now to await tn
II conversion Of Mr.. Roche's cOaterals Into cash
q + satisfy the demands OF the depositOrS.