The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-06

The Panic at the Third Avenue Savings
Bank-A ClamOrous Crowd Yester.
day-Dls0rderly Demonstrations
The Institution Still Paying.
Bank Superintendent Howell to the Rescue
What He Says.

Bank Superintendent Howell to the Rescue
What He Says.
AS was predicted in The HERALD two days ago,
Savings Bank "has not yet been broken" and the
number demanding admission yesterday was rully
double that OF the previous day, about fourteen
hundred. Before the ckerlng gas lights were turned
on yesterday morning by the mysterious lamphghter
who usually treads the silent streets when eager de-
postors are in that happy state Of slumDer that no
ghosts OF broken or breaking banks disturb
them. fully two hundred early risers In front
Of the bank on the corner. They were reinforced
momentarily BY others; and as the Meeting hours
passed the gathering increased very vtsiDly. At
ten O'Clock there were fully fourteen hundred per-
sons present. lining the sidewalk from Twenty fifth
street TO the corner OF Twenty.sixth. The Der-
sonnet OF the lines was an interesting study,
and the comments OF the depositors were
highly amusing. In the lines were many
Of our best trades people; old men
Just topplina into the grave beggars, led by chill
dren; soldiers on wooden legs and crutches. and
women WIN tender infants In their arms. When
the doors were opened, az ten A. NJ, the lines
were animated as II moved by electrical influences
and for twenty minutes there was swaying 10
and fro and scramble for positions. The police,
under the guidance Of Sergeant Gr00 tried to act
impartiay in giving each man and woman MS and
her proper place, but, when the lines were formed
within the banking ONCE, many Of those who
were first without found themselves among the last
w1thin-or at the fag end OF the line About two
hundred were admitted, when by some stupid blum
der In misconception or orders the front door was
closed as tight as drum, and those without drew
Snvv md Incl tn hatn 1ot
the cry went up, "we're sold Quit" "The banks
closed.n DIDN'T tell yez soY" when Mr.. owen,
one orthe trustees discovered for the first time that
the doors were closed. Turning to one OF the en-
ployes ne exclaimed Indignantly
''ODen those doors, quickly That Is pretty
sign Tor the people who pass in the cars. They
Will report that we have suspended Move
quicklyp
Amoment later the doors were thrown open and
q thousand e0pe who were trembling for the sta
bllity OF the concern, breathed freer. The bank
was Kept open during the remainder OF the day,
and dollar for dollar was paid out over the paying
About one O'Clock Captain Cameron who with his
officers has been indeatgaby a. work In aiding the
depOslt0rs and protecting them from the thieves
tered the private ONCE lighted cigar. and sitting
down awaited orders A consultation or trustees
had and the result was the posting on the outer door
the follow ng Card
o'clock The bank will be opened at ten A. NJ tomorrow
This card, which was written IN large letters. mad
the effect 10 largely diminish the crowd without,
sons, and until the closing hour the payments went
on regularly. Among the large deposltors who had
s Gesn out the OF line 1ee ar
Gent In muscle, which Is necessary TO fight
ones way in camorous crowd OF tins kind, were
Professor j. E. Frobisher, the well known elOcu-
ZIONIST and Mrs. Bacigalup, who for three days has
been present IN the line with tender infant In her
alter sweating IN the lines for hours tainted and
were tenderly lifted by Captain Cameron and MS
officers ,a ana , 70 ne ns !,
their homes rejoicing; ....,.,, - s,.,,,,.,o
that the police captain retired leaving in charge Of
the bank Onlcer Frank Smith, OF the Eighteenth
precinct who, until the hour OF closing, ably
handled his platoon. There were several sergeants
and captains OF police present to draw out theil
money, Dut no avortism was shown them, alC
they were forced 10 take lhelr place In the line
was present. protecting the depositors IRON
the thieves who lined the outer walks but yet nc
cases oil pocket picking have been reported. II Is
! very certain, from the remarks OF those who were
yesterday turned away from the bank unpaid, that
officers VIII be taxed to their utmost TO keep suf
/ ficlent cash on hand to meet the demand. Presl
dent Lyon however seems to be more
demonstration Of Yesterday About. three
remarked-"Well. have been down town all day,
and the time has come Tor work. We viii pay to.
morrow next day and all next week II necessary "
reporter, as to the result OF Bank superintendent
Howells examination Of the bank on Thursday
city had leaked out, declared that
Mr.. Howell had spent three hours In the bank, and
had lett after the declaration that the bank was all
right. Mr.. Lyon ntimaIed that the long looked for
statement OF the assets and liabilities would be sent
to the press before ten last night, the trustees
were 70 meet in special session at haf.past seven.
| The payments yesterday were evidently purposely
BB e seen By the following actual time
taken to pay thirteen deposiiOrs. The figures
men Of each deposltor from one to thirteen en- ihcia
sive:-Frst 2:35; second 2:Oi; third, 20i; fourtn,
Q; NTH. 1868; SIXTH 2:5l; seventh, 1:2l; eighth.
| /; thirteenth, 2:36. Messrs. Weeks ana Seaman
were the paying teers. Alter the bank closed Mr..
vaults, and there ne personally examined three
cubic feet OF greenbacks. At the above rate Of
paying out these three feet VIII keep Mr. Weeks
busy for week paying out, unless he displays more
vim than he diu yesterday.
Night sessiOn of the Trustees.
At halfpast seven O'Clock last night meeting OF
the trustees Of the bank was held to consider the
propriety OF publishing a statement Of the assets
and liabilities. for which the depositors and the
Bank superintendent have SO long looked In vain,
but up TO this writing 1t mas not been furnished to
the press.
What superintendent Howell Suys-He
Wants to Protect Depositors.
A. D. Howell, Of Bath. N. Y, Is the gentleman
who has The general supervision Of all the banks OF
the State, and he, being Superintendent OF Banks
for the State, has an Office at Albany. Learning
that he mad paid q night visit to the Third Avenue
savings Bank and falling to obtain from
President Lyons any satisfactory state
ment OF Mr. Howell's Investigations q
HERALD reporter last evening searched the hotels
for an hour, and finally found him located ct one OF
the uptown establishments. BY the aid OF the clerk
superintendent Howell was located In room 20, and
q card sent up brought back the response that
NO 40 is out" Five minutes later the courte-
sizes Of the hotel detective were called into
regusition, and ne pointed out Mr.. Howell to
the reporter, who approached him, introduced