New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-20
A SMALL BLACK FRIDAY.
CONTAINED from FIrst Page.

Continued from First Page.
asking at the desk of the cashier, for statement
Of the number aud amount of deposits withdrawn
during the day, he was referred to Vice-Presdent
Augustus Schell Mr. Schell stated that the account
was not yet made out, but that over SlOOOVVo hau
been paid out. The run bad not been anticipated
as il had not been thought that the excitement
would turn in that direction He said they had not
attempted 80 provide for such contingency until
. late in the day. when they had called IN some
of their loans most of which were paid. Ihey had
found il hard work TO raise the money on so short
notice. The clerks were then busy making out the
necessary notices for calling in loans to meet tOdays
requirements. He expressed himself as entertain
ing no doubt that the Company would be able to
meet all demands, but again spoke of the difficulty
of obtaining money upon short notice. They could
not expect to receive the money on these loans until
late this afternoon, which would cause considerable
delay in getting their checks certified. The officials
declined to make public the number of deposltors
-pad during the day.
SCENES AT THE MANHATTAN COMPANY
As the Union Trust Company made clearances
through tho Manhattan Company in Wall-st' mucn
of thu excitement in the offices of the former was
transferred to the premises of the latter Those VINO
wished to withdraw their funds from the Union
Trust Company were paid In checks on the Manhat-
tan Company. These they presented lmme-
diateIy at the bank named for cerlication OF
for the money. At about noon the account OF the
Trust Company was depleted, and soon crowd OF
anxious depositors formed at the paying telers
desk clamoring for their money. Each and all were
Informed that there were ono funds at present, but
that large deposits were expected at about = p H.
Long lines were formed, and the depostors
there were about 200 persons in the bank
representing about 100000. As the num-
Der of check-bearers increased, so did the I'M
easiness and when the hour of was succeeded by
that of g. fears that the Trust Company had sus-
pended were generally expressed. This idea pre-
vailed so largely that the fear spread TO the
street, and was circulated with depressing effect.
At4p m, however, the long-looled-for deposits ar
rived and there was Joy among the attendants The
paying teller Immediately began to certify the
Trust Companys checks, and did not stop until
about 4.SO p. M. when the bank was closed for the
day.
After the close Of the excitement, a TRIBUNE re-
norter sought Mr. Harberger, the cashier Of the
Manhattan Company, and applied for information
concerning the relations of the Trust and Man
haitian Companies. Mr. Harberger said that the
Manhattan Company was a mercantile and not a
brokers' bank They did not certify for any account
unless the money was in the bank. When
good mercantile house that had trans
acted fair and remunerative business
with the Company wanted $4,000 or $4,000,
on good paper they were not disposed to withhold
n. as the policy of the Company was to cultivate
that interest and thus enlarge and foster the COM
mercial prosperity of the community. But when a
banking trust, OF other concern, no matter how
good, desired $4,000 or 100000 certii-
cation, they did not care to grant it. The
Union Trust Company, however, had amply
fulfilled its obligations, having paid out about
S2OOOOOO. He had no doubt that II was fully able
10 withstand all pressure which could be brought
upon it to-day He characterized the operations Of
the street" as gambling of the worst kind, and
boped that the Government would not interfere.
The country at large was never more prosperous
than at present. The crops were large, business was
good, and industrial matters were making healthy
progress. He was therefore opposed to Govern
mental interference.
The close of the Union Trust Company's Offices at
the usual hour in the afternoon did not serve to
drive all the anxious depositors from the vicinity
of the bank Equally futile was the cold dreary
night. Caring little for the inclemency of the
weather, few lowered around the doors, awaiting
the return of day and the reopening of the vaults,
hoping thereby TO be among the first to present
their claims.