The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-05-02
AMONG THE MONEYED MEN.

Manufacturer Enjoy o Slight Run
The Institution Said 10 be SOlid-Thc
Atlantic Bank-Ugly RumOrs-DepOsi-
tors Who Had Overdrawn Their Ac-
counts-Taintor Trying to be Admitted
to Bail.
Yesterday morning. without any special excite
ment, the Chairman OF the Stock Exchange an
nounced that the house OF Otis D. Swan Co. had
failed. For few moments the announcement
created little feeling, and some OF the stocks
probably only those in which Otis Swan & Co. were
interested) went down one or two per cent But
the incident was not worthy of being called
sensation, for 1t had no permanent effect and was
not owing to any special movement in the street,
but mainly to the fact of speculations in which
the house was engaged 1t was announced that
the liabilities OF the firm are not over 1--WE thousand
or six thousand dollars, and 1t is even said that
they will soon recover from the blow and resume
business.
The head of the house, Mr. Swan, fs we'll known
in fashionable society here, and the announcement
OF his failure will no doubt surprise and pain great
many He has always taken prominent part as a
believer in the republican party, and during the
war was made secretary OF the Union League Club.
1t was mainly owing to the honorable and respec-
table standing which the house has always held
that such feeling as was exhibited became appa-
rent because as a house IL never had any particu-
IL
said yesterday It's the Old story OF house going
into business as commission house and gradually
turning to speculating.n Mr.. swans stock was
sold Immediately after the announcement OF the
failure, under the rule and that chapter OF another
house gomez was closed.
THE TRADERS AND MANUFACTURERS BANK.
The rumors which had started as usual, heaven
knows where regarding the stability OF this bank,
were not entirely set at rest by the denial OF the
President thereof to HERALD reporter on
Wednesday evening that the institution was in
any way impaired. Before the doors opened yes
waiting for the time when business was to begin,
somewhat impatiently and anxiously. One OF the
dIepositors uor they were all SUCH SAID to
bank was about to ''bust;" but IN these troublous
times when the best OF banks seem to melt away
like snow, IL was just as well to be on the sale side,
SO he was going to draw his money out ana buy
something that could not be gobbed up. This
se to be the When
the counters and the books were put
up for payment The Call was speedily answered
tinued until the callers for deposits no more stood
In line, but came dropping IN one by one. Up to
three O'Clock the depositors were paid. and some
were even paid at few minutes after the legal
hour.
A HERALD reporter, in conversation with some
OF the officers ol the bank learned that they did not
fear there would be any serious run upon them,
but no matter how severe it was they could re-
spond to it Immediately. They say they cannot
imagine how reports gained ground IN the
manner they did, for there Is not the least
cause for them. The bank is in as prosperous a
careful management has anything to do with IL.
The officers believe that this scare will blow over,
and that 10 Is only brought on because recent ex-
periences have made people doubtful Of the SOL
vency OF any banks.
THE ATLANTIC BANK.
At the Atlantic Bank offices the same duneSs
existed as during the past few days. The Receiver
allows no one TO transgress beyond the bounds OF
that weghty bar which he has placed at the door,
but a few privileged persons. The press Is ex-
cuded and no information whatever Is furnished
TO Its members These two facts, taken in conjunc-
Axvtntr htnh hnu AnNyn
about have gwen rise to some very ugly
rumors. "They are Matching some devhsh
work in there" said depositor who was
kept out 10 the reporter. lyon may bet
that somebody will get money out OF this and 1t
won't be the honest depostors." When called on
postor referred to some OF the rumors which were
about yesterday that several depostsrs who
had oyerdrawn their balances had called
upon the Receiver to arrange matters
or not, could not he ascertaned. There
can be but very little doabt now however, that
whether the Receiver deny II or not the of1cers oil
the bank had hand In the pie with Taintor and
that at least, he has succeed in putting some OF
his plumber away. The balances which he has at
his brokers' are small and are stated to be only
blindsr TO conceal the larger amounts which he has
idea on Monday In the interview with the prisoner
In Ludlow Street Jail.
Taintor Is preparing diligently for his cross ex.
animation which comes up next week. very
strong effort Is TO be made to admit him to bail
which, II successful will probably be the end ol
the case. He has parties who are now using every
means to effect THIS object, but for all that 1t may
prove 10 he futile. District Attorney Bliss, urged
on by the Government, Is determined to slit this
matter TO the bottom.