The New York herald., 1876-10-10
s1l.e5s q

Total cash and Investments ssoe8l7 3s
The Of the useless excitement IN this instance
Is due to difficulty between the president and other
officers Of the bank. As the statements of President
Hooper and the directors much 1t Is
bard % toll who is 10 fault; rhe latter claim that
This carried by the same vote Of IL yeas to
nays.
moved that his resignation trustee OF the bank
should be accepted. but as far as tho presidency
concerned from that he already removed. This
motion unanimously carried, and tho meeting ad-
journcL The vice presldoEt will be the acting presi-
dent oil the institution for some weeks to come.
GERMAN SAVINGS BANK MoRRisANIA
The run which commenced upon this bank on Satur.
day. appears 10 have no just motive or foundation Mr.
HELD questioned several but they refused to explain their
motive for withdrawing 1t fnally appears, according
10 the statement OF Mr. Held that the trouble originated
from trustee OF another rival instituiion; who
had given forth Information 10 the effect that tho az
fairs OF the German Bank in proper condition.
This person also declared that tho Wcland Lodge OF
Free Masons in Morrisan4a had withdrawn their en-.
tire deposits from the bank amounting to 81 600.
.sNow the fact is" said Mr.. Held ''lhat the whole
amount to the credit Of the lodge 5000 which still
remains In the bank. The whole thing done with
malicious intont TO injure the welfare OF the nsttu
tion.o
determine upon the best means OF checking the un-
necessary excitement when they agreed upon making
the following statement
The undersigned hereby agree undertake tho
depostor will assist them in the above named
calamity BY allowing their deposits yet remaining in
themselves personally responsible each the extent
full o csc and deposit a the b.ns In .ss
this proposition Is not accepted however and the bank .
Of the market in order TO raise funds the
suing ia thereof viii be- atrbutabe to the un
wise and hasty action OF the depositors themselves
to properly discharge his duties as President became
SO troublesome to the trustees that many OF them
determined not to vote for his reelection. He
was reelected, however, by but two votes.
do So The trustees declare that Mr.. Hooper, know
ing that his election again was impossible. began TO
undermine the cont lence 10 the management OF the
bank. Frequent mysterious Withdrawals OF deposits
observable and on the lst OF July Mr.
Hooper himself withdrew his own accounts from the
distrus, among the dcpositors The
trustees laid tho m-tter before the Superintendent
of tho Banking Department. In June last Tor the pur-
pose OF obtaining his advice He recommended appli-
cation TO the courts, but they were unwilling to pre-
cip,atc matters publicly and the risk OF creating
false alarm among the depositors From the foregoing
the trustees say the cause Of the present run may be
easily scen
tho bank, whom the following business was trans
acted A resolution which was framed at the last
meeting in September upon the report OF q special
committee Of inquiry, which rectes The derections
Of duty the part Of Mr. Hooper aud RECOMMENDED
his removal was passed by vote OF Is yeas TO nays
The following resolution was also proposed
Resolved That conduct Of Mr. John Hooper, in gvina
publicity ,hroa;t newsp.per on saturday last 70 sa
quence of his misconduct while president Of this bank
Whereby depo.ors aave been induced 90 Withdraw
OF the trustees aud deposiiors OF this same bank.
Tho sgners werc:---Jacob Held, Prcssdcnt; NJ
Kuntz First Vice President; Nis. Thiel Second Vice
President; Charles Fritz, Treasurer; Henry Schmidt
j. Chr Freedman, Lorenz Zuc2ner. Casper Hake,
Naentin Frees j. B. Dcnicdo. A. Freutel PhiL E0
ling, Ad. Huepcl
This was printed In circular form and roady for dis
routon to the depos4tors, upon the opening of the
banks doors yesterday morning Ere this the deposit
tors seemed somehow have reganed their conh.
dence for but people came TO withdraw thcr unda
OF tnese many altered their after read.
ing the circular and conversing with tho President
Mr. Hocland offers the following statement OF the
condition OF affairs Of tho bank September 81 =
AssRTs.
Cash on hand ACKNOWLEDGEMENTS. $317s ~
Cash in Gcrmania Bank k................... Loss 92
Call loan on United States bond ........ 90 90
Ron d and stockA A...................... 1881 IS
Real estate Observation-Disclosures. So s02 "a
Bonds and mortgages. ISL $50 "
Total. $424 921 81
Liabilities. s4o5, y21 3i