The New York herald., 1873-09-23

upon drawing money for sickness &C., on the spot.
The general effect, 1t is but fair to say, when tine
determination was made known, begot general
consternation, and many people declared that
their ruin was inevitable. Many OF the savings
banks made payments yesterday as usual and de-
clined to avail themselves OF the time clause. The
general opinion among the bank presidents was
that confidence was on the eve OF being restored.
The President OF the Union Dime Savings Bank
stared that his institution netted yesterday over
$4,000 by people withdrawing their money and
sacrificing the interest their deposits had gained.
AT the BOwery Savings Bank an old woman
withdrew several thousand dollars, and when she
was told that she would lose the interest thereon
for SIX months, she almost with tears IN her eyes,
begged the cashier to put 1t back into the bank,
which he eventually consen ted to do.
To-day IT Ii generally believed the run on the
banks Will be greatly diminished.
Run On the Union Dime Savings Bank.
AT an early hour yesterday morning a systematic
run was inaugurated upon the Union Dime Savings
Bank, situated at 1893 Canal street. People elbowed
each other ferocIousy to get into the building, and
everal members OF the police force, under the
command OF Captain Petty, were 1ound necessary
to quiet the applicants. An excited woman, not
understanding the duty OF Captain Petty. at
tempted, amidst some laughter, to pull him down
from the steps and make him take his proper
place in the nle of candidates for admission. The
crowd poured into the building without losing q
second when they had the chance-and II they
rushed In quickly the money was handed to them
with equal despatch, so that not moments time
was lost In Keeping the ball moving.
Several people, VINO withdrew their money,
walked away with 1t a couple oil blocks, and then
redeposited 1t, after waiting perhaps an hour.
HERALD gained admission to the private office Of
the President, who made the following expiana-
tom
ave are paying all who come along, and am
happy to say the bank has made over $4,000 to-day
by people Withdrawing their deposits and sacrinc-
ing the interest which had accrued upon their
money; UP to three O'Clock to-day we have paid
SION and may probably pay out $4,000 or
$4,000 more no asS sHp to tel .s Gaush'ns maso
and will pay all that come along.
We have received great many deposits to-day
about $4,000, think. Our surplus reserve fund
ties at market value. This bank has been in exist
ence for fifteen years, and 1873 has been the most
successful year 1t ever had. Our net profits from
well provided with funds (here the President
pointed to pile Of $400 900 greenbacks), and are
able to pay all that come along. We have received
offers OF assistance from our friends, but have de-
cllned them, as we are able to run our own con-
cern. OF course, we don't like runs, but we are
not AFRAID OF Them"
Franklin Savings Bank.
No payments were made to the excited throng
which nocked to the Franklin Savings Bank and
besieged 1t all day; but, at early hour, the ol
lowing placard waSafilxed to the window:-
$the usual notice OF sixty days for the payment$
sol all deposits, In accordance with the bylaws Of$
$the bank and in conformity with resolution or
$the representatives of savings banks held on$
$the 2lst inst
BY order OF the Board Of Trustees. 5
J. p. PECK, Secretary.
large number Of withdrawal notices were &C
cOrdngly handed In.