New-York tribune., 1872-01-30
sErnNn RnARp-I z. N.
ss1. O. Saa aoads iso,lroa4 fnas-BdHE a*'
MONDAY, jar. 29--T. ".

MONDAY, Jan. 29-r. ",
How ia conduct q savings bank Is subject
that Is very pcuctaly discussed u the newspapers ana
in the busy hauGj- oi inst at this time Before the
advent q the TaUuuauN RUg the failure oi savings
bank wac au o-clUauce 81 exceeding raroncss; hnt
withn toW Wocks In a season ~ prosper
ity and monetary case. we have bcen com
pellcd Ia record the suspension OF three OF
four Of the so-cacd institutions for saving IT may not
be known every reader that there "'" over thonSno
millions ~ dosTs deposit in the savings banks OF tie
In!tca states, ut-tourth Of which auomt s hed
by The rcus~ of our state. so twill he seen that
The iIr.oraucc of honest intelligent, and careful man
agcneui TIC patt o The oitrtls Of iAce lns'"iohs
can hardly ho ovesta-cd Whatever may be The mode Of
ORGANIZATION N other states. IN our own we believe they
all transact business under fTec'ai charters fron the
Icc,slafnrc and without doar Of capital other than
Their depoeits III. older of these charters are quite
uniserm tenor and for ho time were believed to pro
yde every safe guard ssary FOR the almost sacred
rurpOse which such Institutions are III theory moor
narrated PI,t. a. will seen nv reference to the
TGtues me state the charters 80 more recent date
contain features tOat cauuot bat work great injury to
osc trust th,ln ana INDIRECTLY tNch 10 Jhe 9ouhd
md res pectanc usutiou whose officers ar 40 hedged
about by icgh Instructions as 10 make Their pain
pf duty both narrow ard straight. Tho latter
arc al. we believe. prohibited from receiving
more than s. eco from any one depositor, ana
VIC have known one institution, the Greenwich
q
depositor whose pass showed credit OF only sl'
lev are restricted the nvestm"nt Of the moneys
Intrustea 10 them, being permitted I" loan Only on
certain neIncd securities and out hlVH pr"poruoh" Z"
,,e,r fuuds IN these. But under the Ring regime
r,ucrous ut;cIop5 have heeu rdc "a got rid Of these
;. restrictions by excluding them from the hteF
rhartera. aud et6n ny eSadinc those which
are rct.incd Some OF these Ring banks,
forinsanc, are permitted 70 receive uniuuitcd sums,
and Lsuoe the drafts recently madc by single ind-
viduas upon Tho hauhs tuprosod 70 b" unsafe Al u
This class 81 banks Dc said % have rowing comni>
sion IN the matter OF mkng lO1ns Ud hence thu large
loses o. those that have actually failed. In very few
fas,ICts the Older. not the olGest, bank have Oh
tsincd nt utueuts authorizing the taking oi $1,000 NJ
TIT niai mum ron Any dcpositor The Mechanics
and TAlor-'. IL Tie Bowcry. ia ouo OF these,
nd Iesny that aro sced 70 5000 eyadc the provision
"y tatug from an individual whose deposit has already
reached tho aN.ioum. further sum ia ms namc -
tr,e, .cr ono Of his children; and this operation may
40 repeated, Il tn dCpctitor desires unt his deposits
are 09iy uiitcd t. the uuubor Of lis offspring actual or
tUacL.EY.
Val ocs rciuodts are suPresd Ono 81 these is tho
uassacs of .ncr. laN that shaj throw the Who'll. ,I
,c1t oFC 10 NLu cOCVIy with its rcqGiremonis such
nIaw tiis. er,noratcly prepared lay M K"yc-, ihe
ctle DCrty cIiutcGdcit OF the Bank department.
two or hlce ycnrs 20. was carefully and cahuratcy
considered by Tho senate Committee On BJuks OF
which Ia, Hon Ahl0h ". FGimer chairman.
~ ne ucsnlt Of many yea's cApu"ncc
of II most efficient EaI,k EEalDDrr. and was.
hut, cncou1i,rng the opposition o1 some Of the new
sa,ilg~ hatls died easy, but Altogether unnatural
death in the Senate. Another remedy proposed s the
las.agC a. aaW that shall bring al The hauAs within
Iic limits p,cribed for themselves bS the officers ~ the
old. so9d as conservative insdtutiops, and aIter this
u done {, charter new banks iu cities
which ;ToIat nave one or more, hOt as inst a. The
grow q, Of TN city nay require additional SAVINGS fac
- 60 allow suCh ol TIC Od banks as ~ Ucir latest
statements oort up toa CERTAIN standard tOopen branch
1 4Nt. e
OF holS in It's early bg lack Of business
otbrrwise. s require every newly chartered
bauF to deposit Il least S0oEpO IL Government or
n. state tond- Win the Blil Wg Department In
ebangc thar n~y le made, nv low voluntarily, in
The s1oje q trfhsac;iog the nr,ncs. hereafter one
pGni -ec ccedngy cloar and that Is that ordinary
mortgage Onroai estate to any large c1tont
dcsrtre security for th- % the poor Our pop
ulatiUb Is nov composed f. -ulalcr communities, vhcre
Officers end dealer generally personally acquainted
with sts, q Other the ItCIle sid phegfnatic
aod jptel cont they 10; but gn'a commercial !
aty conn hsed largely o! p.rsoHs do rstuud
thc Iaugux aud many Of whom cannot write read
their language and To whom m0N officers are |
necessarily -tIargrs many q" whom are PERSONS not Dg
accustomed 10 having money or trusting 10 Others what
they havcis a cGuitijtS lIrc- oi people
are gathered around bank al fhe slightest sound
alarm -nOthiGg that /, not immediately Convertible
ADS money sf.us 10 De adequate 20 satisfying tho de-
ina11s ot frightened depostor II may be The pre-
th' attention " any, and especially Reform Legisi
tnTc.
The week opens Win decided evidence. Of fuIure aci
ty ~ tb- several IartDents Of the stock Exchange
Gold ftoug, and there thought 10 Do indications or
diversion IN favor o. higher premium in connection
with bear IJaid m stocks and attempt 10 engineer
desJ money through Le medium OF The old lock up sys
ten CeJtoirly affairs squint IN that direction to-day
= Tie fOcl marEc uud-F he influence Of The aie heavy
6dr0uton Of long stock and the repeated efforts Of |
fhe late bull Spectator "a hammer prices was
5n and dropping this forenoon. hut became weak aud
lower tbshafterEoGn, with free pressure of tho curs
hsf the decline ~ the DAY bang ia "A per cent The
active trade In Erie Lake shore North West
rrn. OhiOs. niOn ihC, Pacific Mai. and Western
Union Telegraph thOui IN these spcclltios the volume
Of business wac quite iestctod TIE markct seemed 10
tske these oGefing quite readily ald should infer
that the contest bet Neen ibe late menbsr OF rho pool
aud BIZ comrades wonld prove Interesting. II rsmains
10 10 seen on hch tho victory VIII rest Invest.
menfs were quiet, the speculative miscelneu snares
6imer Coal stocks steady. afd Express siocke soady
tie following table hows highest aDd IQWest prices
% attir| shares made today: "a