Evening star. [volume] (Washington, D.C.) 1854-1972, 1873-10-11
THE WASHINGTON CITY SAVINGS BANK
Report Of the Committee.
Important Action.

The committee of thirteen appointed at the
meeting of the depositors of the Washington
City Savings Bank, have assumed no authority
whatever, nor have they exercised any powers,
bnt have labored faithfully TO obtain such in
formation as would enable them TO make Ju-
diCiOUs recommendations TO the depositOrs in
order that they may act advisedly. After due
deliberation and full consultation with the OFF,
GERS of the bank and the receiver of The court
the following paper was unanimously adopted
by the committee of thirteen, and ia respect
fully submitted to the deposItors through the
press as being the speediest method of commu-
BiCating with them.
Recognizing the great benefit of the Wash
ington City Savings Bank TO this city, and it,
sound financial condition as seen from the re-
port of the receiver, the high character of Mr.
j. a. Ruff and the gentlemen associated with
him, we do hereby express our regret that this
bank, having successfully withstOod two runs
of great severity, was forced, in time of univer-
sal financial panic and general suspension Of
currency payments, 10 close its doors.
While we have the utmost confidence in the
ability and integrity of Mr.. Mattlngty, the re-
ceiver, we believe that il would be to the inter
est of the depOSitOTs and of the community if
arrangements could be made for the bank to
resume its usual business. With view to this
end il is recommended that lists be prepared
and left at places 10 be designated hereafter for
the signatures of the depoSitors, binding them
for period of twelve months to abstain from
legal proceedings against the bank, and agree
ing to receive such pro rata dividends, less in
terest on deposits, as the bank may from time
to time declare.
The present assets of the bank shall be held
and used for the sole benefit of the present de-
positors, and are not to be sacrificed at the pres
ept ruinOus rates.
That committee Of FIVE depositors, viz: ".
3. Todd, JnO. Ogden, j. +. Ennis, q. Craniell.
and II. POlkiHhOrn, be appointed as an adyis-
sorry committee in behalf of the depOsitOrs to
consult as to the disposition of assets and the
declaration of dividends for the next twelve
months, OF until such time as the bank shall re
sumo full currency payment again"
The proposition contained in the foregoing
PAPER having been accepted by Mr.. John A
Kun and the officers of the bank, shall go into
eneCt when the depOsltOrs shall have signed
this agreement, pending which we request Mr..
Mattngly to continue in his Office as receiver
IA the discharge OF the duties of receiver OF
which he has given entire satisfaction.
THE AGREEMENT To BE SIGNED.
The following Is the paper to be submitted e.
the depOstOrs for their signature:
We, the undersigned depOsitors in the Wash
iBgtOn City Savings Bank, each in cOnsidera-
ton of the signatures of the others to this agree
meIt, do hereby mutually agree with each other
and wl'h said bank to waive all interest on our
deposits for one year from Septomber %, 1S13
ard until such further time rs the committee OF
five, appointed at n meeting OF the dspoSitOrs
bed October 9Th, 1913. NAV deem eXpedieut and
proper. and during said period TO abstain from
instituting any legal proceedings whatever
against said bank, or any of the persons con
nected therew it'll, for the recovery OF our depos-
It's therein, and Go hereby release any legal ac-
tion so brought within said period.