The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-11-19

plenty Of security pay every dollar and we have
paid every dollar that mas been derianded AZ vet;
but We are now holding consultation AZ To whether
the oank shall be closed on Monday morning. and
you look In again In IN hours Time Will give you
me reporter waited npon Mr. smith az the end OF
the hour, and was informed 81 him that the Board
OF Trustees had unanimously decided that the bank
should go on that 1t wonId Ge open on IN monaayy
II TO oe distinctly understood that every deposiot
"You may understand said he, 'that IN order to
pay SIX pei cent interest We cannot AFFORD 10 nave
MONEY LYING IDLE.
we nave II invested IN bonds railway CITY gov,
eminent and others. We nave arranged, however,
| mat should there be extraordinary dram upon
| uswe shan be fully prepared TO meet IT,"
. Wnh inns IN ormation the reporter, thanking him,
IeIIcu. rue National savings Institution, goa
Broadway, Is comparatively new establishment.
anu ulust not be cOniounded with the National
| savings Bank connected with the freedmen's Blu
reau. whcn Is In the mmed,a ate vicinity. Although
| the names Of Richard NJ Tweed and several otncr
| gentlemen prominently connected with the Tam
many parry are enrolled among its trustees, II may
be inferred from the frank anu unreserved state
ments made by the President ami Wee presiieng
that its Affairs are not IN the precarous condition
rutnOr would have thein
The YorI<viiIe Savings Bank Also Reported
Shnky-Probnble FaIstty Of tho Wumor.
Last evening among other banks reported burst
the Yorkville Savings Bank, OF which II. w. Genet
Is President occupied conspicuous place. 1t was
announced that heavy run had taken place on
the bank during the day; that the assets OF the
company were entirely insufficient. and that crash
was inevitable. AS the banks which have already
suspended more less connected with the
Tammany Ring the rumor gained additional
strength from the fact or Mr.. Genet who Is
prominent a member OF the rammany Or5antza-
tlon being the President or the Yor.vIlle.
Judge McQuade, another prominent partisan OF
the 'Iost cause being Its Vice President The bank
Is situated the OF Eighty street and
Third avenue. In the centre OF populous but poor
district The depositors therefore, manly Of the
poorer classes, who seem to be the main sufferers
from the stupendous frauds which the failures OF
Friday and yesterday have brought 70 light. In
order to ascertain the
TRUTH OF THE RUMOR
HERALD reporter was instantly despatched to rne
office OF the bank slit the truth or the ruOr and,
II possible, get faithful account OF
the situation. The cashier was fortunately
found At his post though Just on the point OF leav-
ing, ana In response TO the inquiries cheeriully
promised give the full particulars OF the state OF
| the finances so far as he has an opportunity OF
| knowing. He proiessed astonishment at the rum0r
slightest foundation 10 rest upon.
No excitement or run OF any Kind had been made
| 1t usually did, and ne says to his astonshment new
accounts had oeen opened, os as .ney n ,o
a few days, TIL the universal panic which
| prevails relative to the savings banks OF the city
l
Dank Is limited. the deposits being under Sloo,o0o
| and The executive committee are men OF wealth ana
substance, VINO he saes VIII be fully able TO make
| good any deficiencies IN the event OF such an un.
| looked-lor circumstance az tue insolvency OF me
| bank taking place. The reporter suggested to him
| that as Mr. Genet was connected with the KING
| il not at all Improbable that II might occur;
| but he made the astonishing answer that as MT.
| Genet never mad been connected with the KING IN
any capacity, the observation could not Apply. lie
courteously offered to conduct the reporter 10 the
| Jefferson Club. on Nineeth street, wnere the Vice
President,
| could be found, who would furnish additional
| confirmation OF the truth OF his tine cash.
| ier's) statement. The cosey rooms OF the up
town resort OF the ring politicians being reached
| after some search, the Judge discovered In
close confab with friend, the subject under discus
SION being evidently an important one: but ON the
| lntmation OF the cashier that reporter OF the
| HERALD wi he'd to see hm ne instantly dropped
| the conversation, wondering what mad brought
on learning the nature OF the business lie up
| his eyes In holy horror at me wckeduess Oh men
who had the audacity TO circulate so scandxous
report In connection with an institution OIL winch
the
GREAT GENET
| was the acknowledged head. "Why man deaA
| (said mel the men connected. with the bank Are ~
rich Jews able 10 pay the amount OF the deposits
times over and live like princes after ana can
| what reason any one had 10 put In circulation
| any rumOr5 Impugnlng their honesty" lie says
the deposits, which are less man 100 900, are more
than covered by the assets, ana that there Is not
slightest Tor the depOsitOrs to be the least
| alarmed about their money. The reporter, on eav-
Ing the club, made inquiries In the ncghbOrhoOd to
see how far the statements OF the ofnclais c0uld
| be relied upon, and 80 far as there being no run
heard oil, or any undue alarm, they were iuy COR
rObOrated, and the Inference IS tha5 so lar, Inc
Yorkvllle IL all right; but how long 1t may remain
so, OF those things. no fellow can 1nd OUT"