The New York herald., 1875-11-30

the demands during the day we're not one-half
what they had been on other other days before Ts
calls for money had been slightly more than
the average during the past month though there was
10 withdraw portions or their deposits. They had
often paid out SIPS 900 In day when there was
excitement and yesterday he Was they had not
paid out more than 500, 900.
DOWNTOWN BANKS
The various downtown banks were visited by
HERALD representative with a view to ascertain
whether the recent suspension OF various small
ngs banks in Third avenue and elsewhere would be
likely 20 uneasness among the depositors in the
national banks and in any way embarrass their bus-
The nrst institution visited the Ma
tonal Park Bank opposite ST Pauls church. on
Broadway. There was visible here signs Of any
thing more than the ordinary business he clerks were
busy IN their several departments and the throng OF
men gong IN and coming out was the usual exhibition
a busy day. The President OF the bank assured
the HERALD reporter that he had heard OF commo-
ton whatever among the national banks I'm fact, ne
said every man familiar with banking anairs IN
this city knows that the liquidation OF the smaller saw
ings banks was only question OF time 10 no. os.
officials Ny opinion is that II will not create ripple
Of excitement among the large and sound savings banks
as their condition Is well known 10 the depostors ana
their securities could be converted into cash at an early
moment"
Broadway, opposite the Western Union Building,
said:-There 10 excitement about the petty bank
rupt savings institutions IN regular banking circles
Our business goes usual and II Is perhsps better
for the mercantile community that all the speculative
concerns started three four years ago should DO
which have survived the late severe crisis are more
worthy OF confidence than ever"
NATIONAL BANK OF COMMERCE,
at the corner Of Nassau and Cedar strees-opposite
the old Post U1ice-was visited and the
President, Mr. Vail said 10 the rep0rter-Instead Of
evil the present troubles OF the unsound savings In
sttuions will result in great good They have been the
mushrooms, the outgrowth Of perncious speculative
system started primarily 70 entrap the unwary
and TO foster the schemes Of the Tweed
Ring. They took risks outside OF their legitimate
calling. and The result is too well known. We have
nRvaF n
structed our teers TO be careful in accepting their
checks ! do not think their closing will have the
slightest effect on our national banks"
Mr.. Philo c. Calhoun, President Of the Fourth Ma
tona Bank at the OF Pine and Nassau streets
we have done business with the banks
mentioned as being in distress, except when, in the
ordinary course have made loans good and sound
collateral, the same as with our usual customers.
hear Of excitement OF any kind in regular banking
The Gallatin, Chemical, Bank OF New York, Mechan-
les National and other Institutions Of like character
reported the stale OF affairs, and the officers
neccd with the institutions reflected the views reported
above
reporter called at the Broadway Bank, and found
there Mr. Charles Burkhalter, one of its directors in
charge In 10 numerous Inquiries concerning
the condition OF his own and other banks including
those Tor savings he spoke generally as follows
$50 far own bank IS concerned can say OF
certainty that there has been ntimaton OF the
least uneasiness among the depostors, for the
simple that there is not the slightest occasion
for it The trouble has been and Is almost entirely
confined to the small banks, mainly such as Tweed
secured charters for from the Legislature while
he power there. For such banks there not
the slightest need in the first place, and secondly,
some OF them were not managed as bank should be
to safety 10 its depostora There was the Man
ufacturers and Builders Bank, in Third avenue,
thai loaned over $4,000 to Henry Clews
on peculiar Southern securities when
well managed bank would have loaned anything on
them. The fact is these banks that have failed and
shown disgraceful conditions are or were the banks
who knew nothing OF banking, and they
resulted in gricvous loss, even when they
Henry J. Purcell and his brother. Such men in the
banks have referred To overpowered by others
others to suffer for them So far such men are con
cerned their depositors will be paid so far as their
means will 60. The older, larger and regularly
organized savings banks not going TO be
seriously affected by the failure OF the little nondescrp
concerns that never had any standing among the sub
stantia banks The security to take the legal sixty
days time for payment and think that depostors will
get their money. One of the trustees told Inc as
much the other day and have entire confidence
in his declarations AS far the affecting OF the old
recognized savings and other banks is concerned all
fear of run on them is over Then, again, the Sea-
mems Savings Bank and the Irving gong to be
81 all affected by the trouble in the little banks,
that and always have been without good
repute. The Mutual Bank has stopped, but am
sured that the depositors will be paid The bank
stopped because OF serious loss through mis-
management but because II did not do business enough
10 render IL wise 10 continue longer bank in fact,
Is very much like newspaper establishment; ;
II costs just about SO much money TO run H. whether It
does large or small business and II the business Is
too small 10 expenses must either stop
body suffer loss Another feature of the banking
case is ths:-Property-that is real esate-that
worth SIS 900 time ago, when, perhaps, $40 600
was loaned upon IT. would not to-day, In
many instances bring the amount OF the loans even
private sale Right there IS where great deal or
the trouble lies In my estimation the estimated value
OF real estate IT, in -ery many cases, even now far
toe high. Poor people cannot afford to pay rents sum
TO return a profit the investment,
at the rates asked for it, and therefore it must
down to level with the existing conditions in other
interests When that needed condition shall have been
reached there will be better basis for loans and If
business shall improve sufficiently to warrant an ex
tension OF loans then the present peculiar conditions
will be improved AS they are, however the old, well
organized banks whether banks for savings Others
IMPORTERS AND TRADERS BANK
Calling at the Importers and Traders Bank the re-
porter was introduced 70 its President Mr. Charles
Buell. and the object OF his visit having been stated
In series OF questions the courteous Official responded
substantially as folows:-'Our own bank does not
realize any OF the feeling of uneasness which
are told pervades the community in relation to
banking institutions generally The banks that have
gone down were always weak and badly managed.
They ought 10 have gone down before; but better
than later. In fact, Tar these suspended
OF either their existence or failure so far AS any regu
lar banking business is concerned II not for the
NKw YORK HERALD The bank, which claimed TO be
u bank Of issue and deposit, was not known at the
Clearing House, and, Of course, had no stand
ing there, Tor their business, such OF IL
as was regular was done through some other recog
nized institution. In short genuine banking business
will not suffer by the failure of any of the banks that
have tailed but will IN the hereafter be benefited by
cApcrlchCc bhc puOHC VI unnecucu,
lar concernsn
CHEMICAL BANK.
The President OF the Chemical Bank, Mr.. John q
Jones, was called on inquired OF and responded that
the Chemical had not in any way been affected by the
reports abroad threatening the condition OF
OF the smaller banks, nor did he believe
that any OF the properly funded and
managed banks likely feel the pressure OF any
uneasiness in the public mind, otherwise perhaps
than By having their line OF deposits increased. He
felt that II the little banks that have gone down had
closed their doors at time when there
q sharp demand for money, and the
market WAS tight, they might have had
effect upon the business OF the time. But, il
was, with money than easy, he could not see
why the fate OF such banks should effect anything
seriously, any other than those who had been
SO unfortunate AZ 10 place their money with them.
zxAMIETNG THE CHARGES OF PERJURY AGAINST
THE THIRD AVENUE BANK OFFICIALS.