The New York herald., 1873-09-23
THE BROOKLYN BANKS.


Subject.
There was some uneasiness, as was anticipated.
among the small depositors in the Brooklyn banks
yesterday. The panic which SO convulsed the
financial world OF Wall street reached the commu-
nifty Of churches, to certain degree, and caused
the bank of1cials to prepare for the worst In the
way of "a rum" meeting was held by the presl-
dents OF the banks, and 1t was resolved to stand
firmly by each other, and in the event OF "a run"
upon any one bank 1t should be the duty OF the
others to come to the rescue. 1t was further
determined to require thirty days. notice from
depositors before permitting them to draw
any money. The business of these banks is strictly
domestic business, and they are not interested in
Wall street speculatlons. At the Nassau Bank,
Court street, near the City Hall, business went on
as usual, and depositOrs were apparently free
from uneasiness. The surplus Of this institution
it is claimed is 100000; deposits are about
$l,500, ,000 The bank stock is worth 165.
THE MECHANICS BANK,
Daniel Chauncey, President, corner of Montague
and Court streets, not molested In any form by
panic-stricken people, The President stated that
the action OF che United States Treasurer In issuing
greenbacks for government bonds will have the
effect of relieving the pressure in New York and
In restoring confidence throughout the coun-
try. He considered that the action Of
the savings banks Of New York in closing their
doors aud avaling themselves OF the thirty days.
clause in their charters has had tendency TO
excite public feeling"
"rhe Brooklyn banks, Mr.. Chauncey said, have no
brokers' accounts and so cannot be effected.o
THE NATIONAL CITY BANK,
President J. J. Studwell, was quiet and regular
There were no unusual demands, nor was any
trouble anticipated by the President. The capital
is S300,000 and the surplus S35O,000.
There was no run on the
DIME SAVINGS BANK,
Brooklyn Savings, nor the South Brooklyn Savings
Bank, and their respective directors are confident
of weathering the storm.
THE FULTON BANK SOLVENT.
The President of the Fulton Bank, Mr.. Alex
ander G. Johns, stated to reporter OF the
HERALD yesterday that the statement published in
a blanket sheet ol New YORK affecting the standing
OF the bank was iase IN every particular. He
said that there had been no run on the Fulton
Bank, nor was there any feeling of insecurity
be learned. 1t was not true that the City
Treasurer had been instructed. because OF the
from the bank. There are about $4,000 OF city
money on deposit here. The report that the original
capital Of the bank was sunk in an
Mr. johns stated that they held $35, 200 OF Georgia
bonds, but that the surplus OF the Fulton Bank
would double the Indebtedness of the bank, even
If every one OF the Georgia bonds were valueless.
They are perfectly solvent and can pay readily
every dollar. General Benjamin F. Tracy, who is
OF the directors stated that they could pay 81
Tor every 81 they owe.
LONG ISLAND SAVINGS BANK.
HERALD reporter visited the Long Island Saw
Bderam o sr % s%Gn
the presence of the urbane President, Mr.. James
M. Seabury, questioned that gentleman concerning
the condition OF the institution, as follOws:-
sis 1t true that the Long Island savings Bank
has determined upon taking advantage of their
charter with regard to requiring thirty days noti-
withdrawing their funds ~
eyes, sir; such is the case We find 1t necessary
to avail ourselves of the privilege OF the charter az
this panicy period. 1t Is absolutely necessary, for
this reason. We cannot get hold OF the small bills
ana and currency, and DC consequently are unable to
possible, being OF the highest value; but we can
not not convert con t. them into money Just now:
has become OF all the currency. Four days aEouo
one would have dreamt of such studded and
tions IN our sale we were wont to have many
thousand dollars in 'ones,' twos,' flves' and
similar bills, but they have all gone"
"Al the banks are in about the same predca-
ment, presume-'hard up ior small change ?'n
so 1t appears; and we are only following wise
notification. In New York, l understand, i've
eiGnths n Of & the savings banks have adopted this
Poy Ta eonSs we sent ,s Of
Sub-Treasury in New York to get currency for
them; but It was no go; not dollar could we get
as they were In notes Of the denomination OF ST. 900
each, they would not be available Tor the payment
may ask you whether your "T thrty.dav repua
ton applies to special deposits upon which you
pay four per cent? DO special depositors' come
instancef'
"Gertainly. All depositors must wait until we
get the money for them. am informed that the
Old Brooklyn Bank, corner OF Concord ana
Fulton streets, was bothered so much by nervous
people running there for their money that they
shut the doors about ten O'Clock and would allow
no one to enter. Foolish people They lose the
interest on their money by withdrawn their de-
posits. This excitement cannot last long There
was really no run on this bank, and we anticipate
none"
suppose that the present tightness in the
money market should relax in the course OF a
week, would you still adhere to the thirty days
regulationS"
"By no means. As soon as the panic subsidies
we will resume the w0nted order OF things
Meanwhile our depositors are perfectly satisfied
and secure"