The New York herald., 1875-12-01
=. pro,ec.on of.hemseyes ana .he dspOsItOr. esnsr-

t protection ofthemseves and the depositors gener
ally
There are many OF them having from $3 900 S. 600
on deposit PROMISE II the bank resumes 70 leave
their deposits untouched for at least twelve months,
and draw interest The depositors generally appear
TO have confidence in the bank There ought 70 be
room for Il 70 do good business now that the Thrd
Avenue and the other weak institutions on the avenue
THE PEOPLES BANK
win certainly 90 into liquidation. The prospect OF the
depositors getng hy per cent OF Their deposits
appears TO be getting worse every day. The officials
yesterday notified the Attorney General that they did
not intend TO the order to show
Why receiver should not be appointed,
and we're only now awaiting his appointments
BENEFIT BANK
There was nothing developed In regard 10 this
institution yesterday. The trustees viii hold formal
meeting to-day and determine what their action will
be IN reference TO the bank.
There was nothing new 10 recount touching the Cen
rai Park Bank yesterday The depositors, it is still
thought, will be paid in fun by the trustees, who will,
~ IS asserted, take over the building and lot
THE TRADEsMES's BANK.
Mr. Richard Berry, President Of the Tradosmens
Bank was called upon and said substantially that this
IS time when the conditions in business are such
TO more readily alarm than If they were more
healthfully lively With the coming in Of the crops,
however, which heavy throughout the entire
try II will be found that the effect will be heathful,
and that banking business will be better With the
ception Of returns on the crops impetus will prob
ably be given to business operations generally and
then there Will not be any for alarm. The cause
Of the present troubles has been greatly through the
shrinking OF values, which shrinking has been
on the part OF business men to embark
in any enterprises or, In fact, enlarge their
operations in those in which they engaged
have, however, and so have many other officers of
banks, hopes that the bottom has been reached or
nearly and that the progress will be upward
again. If the depth Of the depression had not
been nearly reached the effect Of these fail
ures would have beon far disastrous
than il has BEEN Their tendency even now however,
is TO destroy confidence And il is a not at all pleas
ant view of the know that the conditions exist
ing here with US are the same as can be recognized
throughout the business world to-day at home and
abroad The trouble everywhere has been pro-
ducton in may say, everything. ! have, however
confidence in the early future l am Of those who
believe that we have too many savings banks The
savings business has been greatly overdone and
believe that the influence Of superabundance of
such banks is detrimental The banks that have
failed gotten up believe, simply to furnish
peoples money for peculiar uses There are
$40 600 deposited in the savings banks in this city
and $40 600, 900 in Brooklyn. This enormous amount
in the hands of the savings banks causes at times very
apprehensions the part OF the people, and
| particularly when we have SO many of these mushroom
concerns receiving their money There Is,
however no reason why the public should be greatly
alarmed. There has been = great shrinkage and We
must expect failures. Money plenty here and else
| where Look at London. Money there is a drug il
is here, at two per cent call These failures,
then indication of general weakness, and should
THE MERCHANTS EXCHANGE BANK
At the Merchants Exchange Bank the President,
Mr. William A. Thompson, was found, and inquiry was
made Of him in the main the same as those above re-
| ported. He said that nothing TO be feared
in any of the banks that are recognized as
well founded, any of the banks belong
ing to the Clearing House. The trouble has
been, said he with the little irregular banks that they
have been trying 10 do both savings bank business
and general banking business The Complications in
| these peculiar banks began long ago. We all
saw that the method was wrong, and while
| ex-Mayor Ticman in the State Senate
! endeavored have him present and have passed
bill to correct the evil He said he wanted bill that
would apply to the banking business generally through.
out the State, and !, with others, drew such bill,
but we could never get him to present It. Our desire
! only on United States stocks, New York State
stocks and securities, and those of the large cities
in the State, but at the time could not get it, Now,
| here with us in this bank have rule by which
debt, when sued and there Is nothing received from il
on an execution we charge its account to profit and
loss and IL appears in reports That has been
rule OF this bank for thirty years. When the state
ment of the bank appears IT can be relied
upon IT as being full and accurate may say in addI-
ton that there is nothing In the condition Of any OF
the banks OF issue and deposit that known at the
Clearing House that need any apprehension TO
| banks Of the city Of New York that have even
called their stockholders to pay any of the
liabilities OF their banks know really OF but in
stance and that was the Knckerbocker, and perhaps
might add the Ocean, but am quite sure of that.
With all the old savings banks there has been any
trouble The Bowery has very large surplus.
1 The banks that gone institu-
1 tions that did not follow proper rules in
banking. They failed TO recognize the value Of the
system OF doing business adopted by the older and
more experienced concerns, and therefore o
| any healthful account financial institutions Fol
instance, when the Bowery BANK ouys United States
| government bonds and pays premium Tor them
or other governments bonds they are entered on the
books simply at par the additional price goes down &c
profit and loss That rule gives clear understanding oil
the bank condition, and is universally recognized
good Many banks while perfectly good, would, il
forced to put their securities the market suddenly
do al serious loss and therefore IL Is possible that
of the banks that reported as intending "a
take advantage the sixty days allowed for settle
ment may do so simply to save themselves from un.
necessary loss, and not because they not able tc
pay SO that even in such cases the conditions are not
so bad they may seem to such not familiar
with banking conditions and rules.