New-York tribune., 1875-11-27

Bank law. The receiver refused to give any htateheI
OF TIE PIE condition Of the bank, except tat ne Ia.
cye0 1t could 5y 100 cents on tie dollar an sole o.
lhe officers sia.ei .n ,? @ th trsnf dullness in bust
ness, and the bink might resume
PEOPLES AND SECURITY SAVINGS BANKS.
CAUSES OF THE DECREASE ~ DEPOSITS AMONG
TTuRD-AvE. INsTITUrONS-TuE PEOPLES BANK
cLOsED-wAIiING FOR TIE suPEBINTENDESFs
DEcIsIov-soLvtNCY OF THE SECURITY BANK
The failure of the Third Avenue Savings Bank
in September and the discovery the annual reports
OF its officers had not contained true statement OF it,
affairs created muon uneasness among the sayngSbank
deDositors in that quarter of the city. Tho institution
il at Twenty-sixtbst. and Thrdaye., in the center
OF dmlsey-popuiatod portion OF the city, ana
the story Of its failure bias been the chief topic
OF conversation for several weeks In The vicinity
while all the banks on the line Of Thirdave from
Twenty -thirIst 20 Fifty-ninthst have suffered
what from the fears Of deposiors quiet bot steady
has been made, while the depression IN business has
prevented any Increase in deposits The money has been
drawn and has not been replaced in dull times the De
pos0l are alway sObgcd tu draw their mOny roll week
t0wee TO meet household expenses This also as Deeha
heavy drain Recent developments have led depos,tora
closely the Gsures published in the news
papers from time 90 time to jho condition OF tie saw
ngs Institution in the quarter mentioned All these causes
have combined make drVOsOrs uneasy IL Is now gen
eray known that be bank examiners have been AT work
for months Inspecting the accounts. books ana
81 curtes OF The savings banks IL this city aud IL Is be
Heyed that tBe Bank superintendent vial "nd ur those
considered unsafe continue business, and sustain
the others safe aud In healthy con-
dit!on. TAis, bank officers and others de
cire should aay e excitement and restore conidfnce
The Peoples Savings Bank at Twenty y-tnrd-st ond
Ghrdaec remained closed all day yesterday police
man stood at the entrance and the depostors no
admitted Latc the afternoon reporter Of Tile
TRIBUNE saw Charles T. Rodgers, the President, who
said that the troubles OF he bank began under former
administration, the members OF which were not
now connected with the BANK. While Charles
Peek was President the Finance Committee
purchased Southern State bODds which failed
to pay interest. and finally deprecated in value. The
trustees had given their individual bonds 10 make good
tho deficiency caused by this unfortunate investment
The purchase was Of Judgment, as II turned out
but there was wTOns doing connected with II. The
trustees had not been benefited by IT. and ut the
thnc the investment considered good. Mr. Rodgerr
did uGt know that any OF the trustees would reuate
their bonds; on the contrary knew several who would
pay every dollar they had pledged. The bank lad
been gradually losing deposits The distrnst IN tht
community since the failure OF tine Third Avenue
Savings Bank had apparently increased The air vas fu
Of rumos, and OF the bank bad felt the effect oil
them. The articles on Thanksgiving Day attacking tbe
credit tie bank led the Trustees 20 close their doors
and wait The decision Of the Bank superintendent viii
the confidence Of the people, and gradual Increase
In Tie deposits, however slow, tho bank would
have worked through It's troubles aud paid dollar FOR
dollar There was now only about $4,000 ON deposit
which was distributed amops 1900 depositOrs. What
action the state snpern. n.ondent would take he did not
know His decision woald be made known soon
Atthe secunty Savings Bank. at Thirty ourthst and
TDird-,e the officers au clerks al present, ana
the doors were opened usual The following notices
were conspicuous:
This bank viii decline 10 receive dcpcaiis or pay drsii,
until examination which has been requested shhi
/ have been made JOS thc state superintendent
I NCiC-lOIE, NOV 20, 1870.
Mr. Ellis the Bank superintendent wns present at toe
bank This morning He stated that he has every conf
ence in tho slyency OF the bank. and any statements
pur1urng 10 have been made by him regarding TIE
appommcui q Il receiver without the siishte-
foundation. lie viii examine The bank on Monday next
A reporter Of TIA TrmuNB c0nycr-ed with ID. ID. T.
MsIshali. tie President, aud William NJ Banks, Tie
sacreafy both OF whom declared that The bank wls per
,ctlY solvent II had been run strict business p!in
tDcS. the utmost economy had been use !, ana tacif
were DO largo iies Inc officers ad h en- cScccG n-iF
c.cIul Ia all tu,r investments The suspension uf IN
Third EIrk AMI the incorrect state
about the action ~ the Bank SuVciri Docn ad
cad.ed au.-ty part Oi r0ue dcpgSitcrs, and Tie
trustees had cuisd red n prudent 10 dechno business
state Oi biI- tOtld own t Tie BIih
Examiners. beyond Hll question. Ncily S2Ic.oOO bad
been withdrawn dglIuE the pdat lcT months ILO diih r.
sfcuifas ard De-. lis were an nistcld>,, anG a. ere
uatpns in conceal email dcNticatirn dmOunl n- t.
- 900 had been detected some months ago, hul VI an
! 49, upsifrd he ruriu, Or weakened Tie hfHh. Mr
30 fr dscriDcd inc attacks On The bank 10 pDiilild
/ enemies.