The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-27
The SICKLY SAVINGS BANKS.
The Affairs Of the Market Bank in a Wretched
COnditiOn-Report Of the Receiver
Where the Blame Belongs.
THE MARKET SAVINGS BANK.

Discoura ging Prospecfs--The Report Of the
Receiver-How the Directors Directed the
Institutlon-The Deputcd DepositOrs Exam.
Inc the ACCOMPLISHMENTS of tho he.
ceiver-The Liabilities Double the Assets.
About dozen OF the unfortunates who entrusted
their savings TO the Market Bank In the times when
its reputation for trustw orthlness unmpeached
fingered all day yesterday in the hall OF that
institution, apparently 'waiting for something to
turn up" and hoping steadily that that some
thing, when 1t turned up as OF course 1t was
sure TO do. would cast some CLEAN OF sunshine upon
the darkened prospects which filed their financial
futures The blow OF misfortune might bring abso.
lutte poverty only TO few but 10 men OF any class
who have gained their worldly goods by their own
exertl0ns the loss OF any OF the fruit Of their years
Of strained energy and application is felt very
deeply. They do not bid goodby to 1t with much
and are apt to cast many "a longing,
lingering look behind" at what might have been
had hope been daunted, If ever little, by this
undeserved stroke, as she climbed upward the path
OF life.
widow appeared early in the morning, as soon
as the doors were thrown open. and waited in the
hail. which at so early an hour was almost entirely
empty, until Dine O'Clock, when some one connected
with the bank first arrived. The temperature Of
Luc 6tuOSpueTe was mObI ScVcTcIy lTlglu, anu pC-
destrlans went on their way shverngly, the breath
congeaing On their lips. The woman was
Of quiet manner, evidently used to
modest ana industrious life. When The Receiver
had made his appearance, and the clerks had fallen
to work at the DESKS she ventured at length TO ask
for abundance, SAYING that she wished to get her
money which she had deposited In the bank. The
0O0rkeerer tried by loud spoken arguments 10
show her the useessness oil the application, but she
still persisted in her entreatles, which were very
affecting. She said that she had trusted to
u ts little S aer Ue aaa
gathered together only by living in the
most modest fashion. from the property that had
belonged to herself and her husband before his
deatU. She had added TO IT by asslduousy tOiing
with the needle and 10y sell-sacrihcing economy.
1ondly hoping all the time tnat when her two chill
dfen-a girl and boy-reached womanhood and
manhood she could have given them gentle
education ana 4 ted them for the same e refined 1d
advent OF misfortune 10 her lie. This story was
not learned from her own lips put from
who had known her family very intimately before
DEATH iail1r ana catastrophe had broken 1t up and
only one who is now left OF BLOOD and the last
misfortune that mas assaied her, and perhaps the
most bitter, Is the loss OF the greater part or her
the Market Savings Bank. MIR. Dennis, the Re.
cetver. finally assured her that 1t was I'M
afalrs Of the Institution were entirely overhauled,
ana that then she should receive all that could 20
kindly given, she received very quietly and went
away. the incident Is the only one Of q touching
character which has occurred a. this bank
since Its failure most OF the creditors being
strong men, who, doubtless, had not en-.
trusted their ali 10 one guardian institution,
with unpaihetic 16rtltude. But lonely widow Of
refinement and culture, with two children, SO dis
picture than tnat OF male creditors whose deepest
agitation Is only evinced by the nervous exchange
OF opinions IN excited voices which oetoken les Of
THE INVESTIGATING Committees.
The committees appointed at the meetings OF de-
posltors held ON Thursday-one representing those
whose accounts are OF higher value than $1,000 and
the other those whose accounts are OF less value
went together to the bank yesterday, at midday,
and were clOseted with the receiver for several
hours. They examined the books and the
report which was being prepared from them. and
departed when 1t was completed. 1t then awaited
attesation before lawyer before 1t was ready for
publication. Before the committee adjourned 1t was
arranged 10 hold another meeting this morning, to
determine upon the further action TO be pursued.
tive proof OF the wretchedly bad management
OF the bank. Indeed, the negligence OF those
grant. and If not legally IS at least morally OF
criminal nature. Conkln is defaulter; but II there
Is any excuse for such man IL should be accorded
HIM In the fact mat his temptation was absolute
given the fullest direction Of ali al:
as to the propriely of what he did. He is a young
man whose previous reputation has been good, and
s Of ee as @
spectator. The temptation was before him, un-
yelled aud aarlng the possibility OF mls!or,
in the future, veiled and unperceived. He
was the creature OF circumstance, and
though worthy Of punishment, should not
be made a greater sufferer than those gentlemen
whose stupidity and folly have wrought his ruin
we'll as that OF the institution under their direction
THE FEELING OF THE CREDITORS.
The depOstOrs are lar more bitter against the d.
rectors OF the bank than against the Secretary, and
1t was limited by members OF the investt
eating committee that they were not
wholly convinced that all OF the punishable guilt
attached to his acts Alone Further prosecution OF
the inquiry WILL determine this matter. 1t Is pro-
posed by some OF the creditors to the directors
for the amount OF labil ties.
STATEMENT OF THE RECEIVER.
Mr.. Dennis completed his statement Of the AFFAIRS
OF the bank about seven O'clock In was found that
If the bank goes into bankruptcy only about fifty
per cent vi their money can be paid to the depOs-
tors. The following is Mr.. Dennis statement
Total assets. b12,l55
What Can BE Done About 1t.
To urpk