The New York herald., 1875-11-30
A Run on the North River and Frank
lin Savings Banks.
Other Institutions Slightly
Affected.
Interesting Opinions of Bank
Presidents.
THE SUSPENDED INSTITUTIONS.

fhat heavy onslaught was being made on savings
banks this city, Williamsburg Brooklyn and Jersey
City In fact the reports made appear that worse
panic had overtaken the banks than the most disas-
before experienced. II found, however,
by inquiries the Offices that serious trouble
Hither existed anticipated. There we're only
swo institutions in New York discovered in which
she number OF depostors present gave indication OF
any alarm These the North River and West Side
Raylngs banks Al both these there congregated
a large number of people anxious TO take their money
into their own keeping Both, however, are consid-
perfectly sound institutions ana from their
last published statements show good line OF securi
ties and a capacity 10 fully meet all demands. The
weaker banks which considered by the Bank Super
Sntendent to be the Of suspension, not
thronged by their creditors and the total amounts
withdrawn from them but little in excess of the
usual daily outgoings while many accounts were
opened There was, however, unmistakable un
sasness manifested in regard all savings banks The
withdrawn from the several institutions, however,
found to only aggregate from 81 600 to IS 900
over the general daily average That there IS among
The banks apprehension Of possible panic cannot be
denied But the universal opinion appears TO be that
a. would be better for the sound banks well as for
ths public that the weak banks, which have not
enough deposits 10 do paying business, should
now bo closed and leave only sound institutions The
mand BY their wedding out public confidence wili it
Is contended be restored The State bank examiners
direction OF the superintendent have been
making thorough investigations during the past two
months and the results daily looked for in appca
lions to the courts for the appointment OF recevers
EAST SIDE BANKS
visited individually yesterday, and generally but
httle excitement was noticed among them. In no
nge instance there found any crowd of depoStors
seeking their money, although there noticed in
many instances slight excess over the number OF ap
plicants usually found
BowERY SAVINGS
gave indication OF any uneasy feeling among its de-
postors The President, Mr. Samuel 7. Brown, stated
that they had experienced and did not anticipate
any. There had however, occurred several instances
where depositors had withdrawn their balances owing
doubtless, 10 the uneasy feeling which generally
prevailed He was Of the opinion that the weaker,
smaller banks would have to succunb, and II would be
better that they should do and the Their
closing would be benefit TO the public. His bank, he
said had not avaied itself OF sixty days clause and
did not intend to do SO.
THE BOND STREET SAVINGS BANK
There extended scene in regard to this bank.
The President stated that there had been Withdrawn
during the day between 50 COO and So 00O The usual
daily outgoing is about 81, 500 to g., 0Oo Many
deposits made. This bank in It's last January
statement showed that II had of assets
liabilities OF Sl7s,7l6 oil.
BLEEcKER STREET BANK,
IL IL officially called, 'The Bank for Savings in the
City OF New York showed the taintest signs OF
trouble This IS the Oldest bank in the city and has
surplus Of more than 900 over and above all lia
The Broadway Savings Institution, the Dry Dock
Savings Institution the Citizens the Emgrant Indus
tria Savings Bank all visited but nothing OF
fhe ordinary business done. There was, IL
said only occasional depositor two who wished to
draw out his balance, which was promptly paid over.
In many these were hour or two aftcrward
deposited They bad none of them availed themselves
OF the sixty day rule.
The East River Savings Institution had said the on
GERS, experienced no run and did not expect any.
The Eleventh Ward Savings Bank and the German
Savings Bank had experienced run neither had the
Harlem the Institution for the Savings OF Merchants
Clerks the Manhattan In fact for the part the
Offices OF the east side banks appeared to be almost
neserted and where there any Withdrawals IL
done quietly and with but little show
Mutual BENEFIT BANK,
which suspended Saturday ast still remains closed
and considerable doubt exists whether IL will be
resuscitated There we're no new Developments yeser
day.
Mr.. Carman the present receiver still remains in
Possession The order Tor his removal had not been
served him up TO i've O'Clock yesterday afternoon.
One curious fact ascerained yesterday which may
difficulty and possible further loss the
depositors This that the bond for $ll5 600 given
the make up the deficiency the
run on the bank 1872 Is said contain clause pro-
vidng that pay yment should not be claimed from the
trustees until 1883 The interest on this bonds il is
said has always been promptly paid over The
tention Of the present building and assistants is
tailing cost OF about $50 day, which has TO come
out Of the depositors funds.
SECURITY
meeting of the directors OF the Security Bank was
fourth street and Third avenue. II was determined
mot to take any action with regard to the closing
rcsuscilaon Of the bank until the wishes OF the bulk
OF the largest deposors had been consulted This will
be a. once done.
TEE PEOPLES BANK
rsemained closed all yesterday apparently without
even the jantor In the Offices, for admission could
pc obtained No statement OF the actual condition OF
affairs Is obtainabe but the reports circulated in this
regard yesterday tend 10 the belief that the dividend
likely 10 be realized by the depositors will be small
one, unless the trustees decide TO pay q much
larger sum than their bond calls for
SAVINGS BANK.
On SATURDAY morning the run commenced the
North River Savings Bank southeast corner Of Thirty
fourth street and Eighth avenue up to three
O'Clock IN the afternoon, and commenced again
soon the bank opened in the evening
from SIX nine O'Clock. Thirty five thousand
dollars were paid out Saturday to depositors and
d was estimated last evening that $45 900 would he
ehe extent OF the amount paid out yesterday
and evening At ten O'Clock yesterday morning there
were dozen person more waiting for the bank TO
be opened and after them came crowdng hundreds OF
Others. The clerks we're kept busy paying
applicants all day. At three O'Clock the after
noon the doors were closed and all inside
qussted to remain and receive their money whatever
the amount might be. Al six O'Clock In the evening
last night four clerks were kept busy paying
applicants fast they came There were three
policemen In the building keeping order, but there did
not seem to be much necessity for them as everything
Pocesaea along guie crSery n,1nner wan, Inc
Nth street; the Wee President Mr. William stafford,
OF No $40 West T~enIyninth street, and the
Secretary, Mr.. James o. Bennett or No 23
East Fifty seventh street, well number
OF the directors, were present during the day and
evening They were all unanimous stating that the
bank would be able TO pull through any that might
come on II, no matter how long II lasted The
Secretary, Mr.. Bennett, stated that the bank has
now about 100000 surplus, that all It's
Immediately available, and be sold to-day
profit OF from i've to ten per their
On saturday morning last estimate was made and
was found that the bank held sg25 900 due deposors
and that there were 300 depositora The total
assets OF the bank estimated al Sg7g 1914 POI
consisting principally Of nrst mortgages on Improved
real estate, United states New York Brooklyn city
bonds also SoOUOO "a Texas State bonds The officers
OF the bank declare that the the hank are
all hrst class aud bee turned INTO
cash Al any moment. When the commenced on
Saturday the bank had in ts possession about 5000 GOO
IN available cash. and up 70 o'clock last nlyht they
had paid out about $50 900 meeting the directors
held at President Hooper's house after the bank
l..c IL