The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-20

yesterday afternoon the reporter again called at
the bank. when Mr.. Calhoun stated that nls
establishment had paid out that day about S3OO,OOo,
and for the accommodation OF the customers Dank,
ing hours were prolonged until four O'Clock, anu
the doors OF the establishment were wide open,
certiaed. Mr. Calhoun stsies that the bank is able
and fully prepared to meet any and every demand
that may be made upon Its resources.
The Union Trust Company.
On the failure OF Jay Cooke d Co. becoming
known, on Thursday, the Union Trust Company
was, by some means, connected with the suspen-
sion. Very little alarm, however, seemed to exist
in the minds OF tho depositors and no extra de-
mand was made upon them for extensive pay
ments. Yesterday, however, when afrairs began
to look as squally as the equinoctial storm and
failure upon failure announced, perfect panic
appeared to seize upon depositors, and vigorous
run commenced upon the concern. Broadway and
Rector street were lined with anxious people. The
steps leading to the banking house were literally
packed, as was also the inside OF the bank. Cap
tain Lowery, Of the Twenty-seventh precinct and
half o dozen men were required to keep the surg
ing mass in order. The oricers Of the institution
hohored every check presented but the cashier
much ID his movements and made haste
but slowly. Small demands were paid In currency,
Ms larger ass were Rsa IN she0K on U Wes
not at the bank or he refused to be seen. One OF
the otficers-0r at least he said he was an ofcer-
from behind the wired grating OF the otllce, whee
| at q desk was seated Augustus Schell, said to
HERALD reporter, In answer to an interrogation as
able to pay two dollars for every one we owe and
that without asking any favors from 81, anybody"
pass book in his hand. and ofered to give . hand
dsDG'sd e, THIS sa, as E0 saa
until the last moment, with the difference that the
latter closed business at three O'Clock.
The status or vermilyea & Co.
Frenzied people on the street. who, in their wild,
disturbed imagination. have no regard for persons
aud institutions, mixed up the name OF Vermilyea
| 4 Co. among those who failed. The writer called
at the ofice Ofthts establishment which, like other
banking houses, was filed with people, either GUS
toners or spectators. Mr. vermilyea. the senior
partner OF the hrm although very busily en-
| gagged, nevertheless found time to receive
aHs RAIL reporter very kindly t aHS 70
truth in the report. 'Uur house" said Mr..
Vermilyea. 'is as sound as ever, and there is now
not impart 70 you, which. trust. VIII abate the
existing panic. 1t Is no use to disguise the iact-
rs sa'ns asS viii d'f here
here Mr.. Vermilyea paused and, being asked by the
reporter the alsernstye, he rephed--then Will
| stopping Letters to Suspended Firms.
| Numerous kilograms have been received by
Postmaster James requesting him to stop the de-
livery of letters addressed to Jay Cooke Co.,
which Mr.. James was compelled to decline, fortily-
ing his action by the ruling Of the Post Once De-
| partment In the case cited below and the section
IT, which reads ;-'After letter has passed from
the mailing once the delivery OF 1t cannot be pre-
vented OF delayed by the alleged writer"
II letters containing remittances sent from
Q distance could be recalled al !toetuns
the eject would be damaging indeed.
While honest debtors gladly liquidate their
warded remittances prior to learning Of suspen-
sion might recall their letters and contents, and,
| If delivered up by the Post Office authorities, tend
70 embarrass the failing house still more.
yr9v W A PARALLEL CASE
occurred last February, which served as . prece;
correspondence
| BUFFALO. Feb. II, 1873.
| To PosrnAsrRa Now York: - -. = =.
Please return our letter directed Mi lie Gibbs ~ Il,
PGssa~'S Nc" '''A Guy FIRST fOi B%NK
General Jones, the Postmaster Of New York, tele
graphed to washington for instructions, which
elected the following reply:-a
| PosT OFFICE DEPARTMENT. l
| WARRINGTON, d. G., Feb u. 1879
sR~Tn reply to your inquiry of the 18th inst you
passes from control OF the writer and must deiiv
cred to the person addressed. should, however tina
either rour the Dead Letter oce or In ac
cordance with the return request there be such on the
envelope This ruling applies well to registered as te
herewith returned, in order that you may make the
proper reply thereto. Very respectfully rpppuJ.
| Third Assistant Postmaster General