The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-03
EIsRE SAVINGS BANK TROUBLES.
Another Run on the Third Avenue Bank-What
the officers say-A Clamorous Crowd
After Their Deposits.

II appears that the Third Avenue Savings Bank.
(which IN October withstood three days. run that
resulted In the withdrawal OF nearly seven hundred
Thousand dollars deposits, Is not yet "out OF the
Wilderness OF Its financial troubles. In morning
paper or yesterday appeared rehash OF several
columns OF It's affairs and examinations, made
previous to the October run. and the result was
that a. soon as the doors were opened yesterday
\ morning heavy run was inaugurated, which III
tcreased Ia proportions until the hour for closing.
During the day all were paid who demanded their
money. and the interest WELL
The President Mr.. Lyons and William F. OAR
Wing. one OF the trustees very indignant at the
publication. the latter declaring that he could not
understand the animus OF the Journal, as the bank
WAS never In sounder condition or better prepared
20 meet all Its obligations. Speaking OF Messrs
Dunn. DOOley ana John Murphy. late officers of the
INSTITUTION he characterized the run as their work.
and declared they were prompted by malignant
motives and desire TO ruin the institution. Mr.
Darling stated that while the deposits are
Only about So, OFT O00 they have about So 900
IN assets nearly all OF which Is convertible at a
short notice. and that when the run of yesterday
commenced there was 81, O50 900 the banks cof-
Yers and an abundance Of Call loans not disturbed.
N hen the last run occurred they met every call and
were now as sound as ever, and could get all the
aid they required from other banks. The run, he
said. was not unexpected, as 1t Is q usual thing
tor 100000 or 100000 to be drawn OUT
interest is paid, and about $40 is paid as &C
crued interest on bonds and mortgages. Mr.. Darling
WAS very indignant at supposed influence used
Spy Tue aooyenaWed qlsapponi ed men to cripple
que institution, and declared 1t was wfu. persona
the publication. President Lyons asserted that
those men were personally hosle to trustees Green,
parling and harrison, anu he would say that many
6r the STATEMENTS maze were false.
[ Ia October last the officers claim they made q
placement to Superintendent Howell of the Bank
a iOnt
thousand dollars. Mr.. Howell came down from the
papllal after the run mace thorough examination
Eae bank was sound and all right; that he did not
propose to go back two years and examine into the
past management mat he was satisfied that the
trustees had carefully guarded the interests OF the
HepositorA and as the bank mad stood the brunt or
patue Tor 80 many years he ielt pride In sustain
{ Tue trustees also report that since the last run
deposits and since the first run In April, 1868, they
pave paid to depositors over million dollars IN IN
tere5I They Claim 10 have the sympathy and
support Of the other banks, upon which they do
expect TO be compelled To call, Us they have hand
Dnoe 10 converted into cash to meet any emer-
ency such as now stares them IN the face, and the
YORK and ro 5 sas soeSs
upon which, they say, they can quickly realize
seady cash: Then they nave considerable In bond
1 When asked II there was any immediate danger
of not being able to Withstand prolonged run one
Of the trustees replied "Not II the newspapers help
Hs. With over million In our Golfers and two NIL
Hon Immediately convertible We feel sanguine OF
our ability to weather the storm. SIN these runs
lnjule BANKS reputation, and when the last one
GUIDED this clique boosted that our troubles
mot over; that on the 1st OF January should have
another tussle. ana 1t has come" Another OF the
trustees charged that some OF the enemies OF the in
ctitution had gone about among the members OF an
Influential religious sect, OF which most of their
p0sitors are members and denounced the bank as
khaky. To this he attributes much OF their diilcu.
Lies.
{ Yesterday morning Rev. Father Maroon, pastor of
the Roman Catholic church OF Long Island City,
q fn
n the bank but at the urgent request OF the trustees
later In the day ne withdrew 1t.
Wtue the trustees were very emphatic In their
assertions that they would Withstand The danger
fnas olrsatened to carry down the institution their
Faces betrayed great anxiety for the future:
Y The hbOve Is derived from Information furnished
by them, and IN The absence OF an Official statement
pr assets and liabilities IL would be improper ex-
press opinion to the sOlvencY Of the corpora.
zion. IL Is probable that this run will be greater
chan the last as that IN October occurred at time
when, under the rules. the bank was not held TOR
fhe interest," and many not wishing to lose their In
terest run the risk OF its collapse AS depost0rs
now entitled to interest as well as principal they
will be more anxious to withdraw their savags and
AcpOSit elsewhere.