The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-11-29
PRICE TWO CENTS
THE CITY'S SAVINGS BANKS.
WISE CONFFDEYCE or DEPOSTTORs
IN SOUND INSITTUTIOHS.
Condition Of the Suspended Banks Tho Mn
tual Bcncit Addcd to ihe List 1Ien whs
Handle the savings of Working People.

Condition Of the Suspended Banks The Mn
tual Bcncit Addcd to ihe List-1ien whs
Handle the savings of Working People.
Notwithstanding the closing Of several
weak so.callod savings banks. there has bson
but little II any run on the really sound insutu-
tions. The Bank for Savings, the Seamens, the
Union Dino, the Dowcry, the Dry Dock, Grcen-
wch, and other concerns with a secure surplua.
possess the entire confidence of depositors-
The West Side Savings Bank also, though not a.
long established as some others, is reported SO
In excellent financial condition, and It's lnvost-
ments are OF tLe best character.
The Secretary OF tho Mutual Dcncnt, Ia the
Stddis Zciiung building, explained to a SUN
porter yesterday how the bank had como down
to its present condition. When In tho sur
building, q few years ago. the Mutual Benefit
did n most promising business, and was on the
high tide OF prosperity, It's deposits at one fims
approaching a million dollars. but tho panic
and exposure Of the Third Avenue Bank lrregu-
larltes caused assets to decrease, until now the
deposits src loss than 100000. The bank holds
no Southern bonds except $2O,OJ ten pet cent.
IcKus, which ae IN demand at about par: IL
Jersey Central Railroad Land Improvement
Company, and American District telegraph
Comrauy, nod sjhC1) OF real estate. II Is Diff
tcut to estimate tho probable loss to depositors,
but the condition Of tho bank Is such that Hu-
p,iintondcnt Ellis, on receiving the report OF
tho Ex miner ordered it to take no more do
pOsits. The officers Are Cen Charles h. Ora
ban, President; Col l,ichard Nose. First Vice
PRECEDENT; Mr.. Joseph Dixon, Second Woo
President; Mr.. q. II. Benedict, Secretary. and
willard limiaid. Chairman of Executive Com
mittee. The trustees, who ore believed to be
men Of integrity, arc under bond to the amount
Of about SloVp to secure denciencv In tho
assets which appeared a year ago. The
trustees are Sas q. Hay, Richard Vosc, Theo.
W. Morns, Martin u. Brown. Chas. X. Graha am.
Geo. W. White, Noah 4. Childs, Joseph DIoe.
J. p. Dinsmore, G. II. Benedict Willard BuIard.
Moses y. Beach, B 4. Morgan, John M. Coonoy.
Thomas j. Hall, George T. Kasmire, and H
Edwin Tromnin.
The names Of the trustees Of the Central Park
Bank are Phillip smith, John @. Carey, Chaun-
cey Smith, John Dunkak, John i. MOrrecellA,
Francis blessing, Henry MCCULLOUGH Miohaet
Gehehan, Michael Kane, John Haley. Henry
McCdbe, and John Moran. Blessing, Gehehan.
McCabe. and Moran resigned when the bank got
been accepted. George Hoffman Is reputed To
be millionaire, and lives on ffth avenue. There
Is some talk Of the trustees making up tho f0r-
ty odd thousand dollars due the depOsitors.
judge Westbrooke will today sign the order
removing Mr. Carman from tho rcccivership OF
the Third Avenue Bank, and appoint his success
Superintendent Ellis went to Albany yester-
day, tut will return IN few days to complets
Examiner, Nr. George w. Reid, Is busily attend
ing 60 his work.
At the Peoples Bank the President, Mr.. Rod
| gers, announced to dcpOsitors that the BANK
Wouii be- able, in his opinion. to pay 75 or g
cents on the dollar the amount named by THn
| SuN several days ago.
receiver has taken possession OF the Manufac-
turcrs and builders Bank, and Is preparing
statement fnr the creditors. IL is believed thera
will be out lttlc left OF the capit j, after the de-
pOsiturs have been aid In full.
Mr.. Marshall, President Of the Security Saying1
| Bank. has sent the following as tho results u
tho examination by Mr. George w. Reid
Asssfs
Rond- and MORTGAGES ............... .f2sI,4s2 q