The New York herald., 1876-10-11
THE SAVINGS BANKS.
WHAT Is BEING DONE BY COMPROMISED M

WHAT Is BEING DONE By COMPROMISED M
NEUTRALITY-SUSPICIOUS. sUBsrDNa
The excitemcut among the depositors Of savings
banks was greatly dim inshed yesterday throughout
the cts. The fuel aided by the supposed compromise
OF institutions Saturday, refused to burn
when discovered that those cases OF alarm
groundess. In consequence the flames OF panic
which threatened to blaze out afresh have died
sirey, and what remains is but the ashes OF large
number OF consumed corporations. In looking
over the list OF failures II is noticeable that,
except in perhaps two instances, there u
an absence OF anything having the appear
anco OF intentional fraud the part OF bank manage
ments The truth is stated by prominent banker.
that the banking law passed IN the early pars Of
1875 has had tho effect OF sitting out the weaker nst
tutions 1t has exposed the system OF banking main-
,aned OF late as fundamentally feeble; and 1t may be
taken for granted the majority OF banks that still
stand unshaken founded upon tho rock OF sound
and reliable system. While tho result Of tho late OK
ctcment been ruinous to many yet good must uti
matey be accomplished by tho indication Of the sur-
vval of tho iittest"
Yesterday a representative OF the HERALD visited .
number OF SAVINGS banks, both those compromised
and others untouched by tho present excitement to
ascertain tho nature Of the feelings which prevail
among them.
NORTH RIygR SAVINGS BANK.
The run here had tapersd OF on MONDAY evening 70
such an extent indicate the revival OF confidence
among the depositors Yesterday according to Secre
tary Stafford. the number OF deposits exceeded ths
number drnfts three Many deposits that haA
been taken during the were brought back yes.
terday, and number of new accounts were opened
Mr. Stafford says that tho officers OF the bank are now
quite harmonious and there is no reason to expect ur-
,her difficulty OF any No ono acquainted with ths
"A ~spA-
ness and its ability TO meet all demands made upon is.
The officers claim surplus over all Liabilities OF
$50 000 and the truth Of this condition having been
made apparent to the depesitors, easily reconcilcd
them The fact, too, Of assistance volunteered
by oth0r banks strongly in favor OF the institution
MECHANICS AND TRADERS BANK
Tho affairs this savings institution appear to De in
a more satisfactory condition than had been anticl
pat.d at the time Of suspension. Mr. William J. Best,
the receiver found IN the Office busy engaged Ia
paying the dividend 10 dcpositors You see don1
have much time to spare, said he, when paymsnu
tho first dividend OF fifty per cent now, which Will
amount altogether to $780, 0UO SO Tar more than Soy
accounts have been paid amounting 70 over saoo W.
well satisfied with the result Of my labors thus
far. think the. depositors Will eventually gse
at least seventy-hve cents on the dollar, and
hope it up to eighty. expect to pay another
dividend December OF perhaps fifteen cents on the
dollar. All property not likely to increase in value
viii be sold Immediately; but there Is some including
tho bank building, which It Will pay to Keep until
spring. Tho building Is estimated TO be worth iuhy
SOS, 0o0."
GERMAN UPTOWN SAVINGS BANK.
Hermann Uhl, the receiver Of this concern, s now
paving out the third dividend, OF ten per cent. The
dividends preceding were OF twenty-five per oeni
each Tho total indebtedness amounts 10 $500 OOu Of
which about $780, 900 now been paid Mr.. Uhl says
that he may possibly pay ten per cent more. num-
Of suits pending IN the courts relative 70
different interests Of the bank and until these are de-
cided amount Of The next dividend and the
time OF its payment must remain uncertain
NEW AMSTERDAM SAVINGS BANK.
The dcposit0rs still waiting the appointment OF
a receiver. Three names sent 10 the Judge ~
Schenectady, men who would be suitable TO the
doposItors, ana his selection is expected in day Or
condition the banks Affairs Is that out at the
dcpositors' meeting last week. Al that meeting also
a committee appointed to wait upon the directors
the bank, in connection with promises said TO have
made by them that they would be personally re.
on the Bowery, and that the deposIors should loss
nothing thereby Tho directors are at variance among
themselves upon the question OF their liability, and
tho of the efforts OF the committee is yet un-
However 1t 10 understood that several directors
others will do so II the action 10 made unanimouA
BOND STREET
The receiver. Mr. w. 8. Pxno now busy completing
his of the affairs Of tho bank, ana ex-
pected his statement will be ready lew days Tho
statement MADE just previous 10 suspension showed
surplus over amount due dcpostors Of little over
$4,000 Mr. J. r. Cooper, the recent secretary OF the
institution gives as hn opinion that sixty cents on
the dollar viii be paid before CHRISTMAS, ana II tne
bank will be able to pay dollar for dollar. meeting
OF the depositors will take place soon 70 hear the re-
serests.
Mr. Thompson, tho receiver stated to . HERALD
Representative that in his opinion, the depositors
would eventually be paid fifty cents on the DOLLAR
Ho thought the hrst dividend would be paid between
the lst and lOtn OF December There 10 considerable
real estate TO disposed Of and some Of II 10 already
under negotiation Tor sale At meeting Of the ae-
postors on Monday evening It was stated BY one pcr
son present tnat six the trustees Of tho bank had
agreed to pay $500 each for the bcnent OF the de-
potors and If ali the trustees should Same the
mil, ha add
for division among the creditors committee has
appointed to act In cooperation with the receiver
for the interests of depostors, and meetings will Be
hold from time TO time 70 hear It's reports OF progress
OTHER BANKA
At the Dry Dock Savings Bank everything has been
quet for a day or past. Mr.. William v. Webster, the
secretary stated that there was no run whatever yes-
in iact was The most quiet day they had nsd
since the 1st OF July Deposits since the LIST OF Oc-
have naturally decreased from the act that the
account commences only upon amounts put IN
she bank previous to that date.
Al the Bowcry Savings Bank President Samuel T.
Brown says they holding shclr own we'll During
the days September about $50, 600 per day came
in owing considerably the that the interest
count commenced upon the LIST or October. Since
the LIST the drafts have exceeded the deposits oy about
So 600 Mr. Brown says that they expect this at such
q season and that they are doing about their regular
business Quite a number OF persons who have with.
their savings from other institutions daily do
post with the Bowery Bank trusting IN tho vast
resources is known to possess They have made
rule 70 % reiase AL mrs. o soss
This is done according 10 Mr.. Browns statement be-
they DO not wish TO keep the money Of capital-
ists but tue savings poor people The Official state
ment OF the bank made October shows reserve OF
about So 600 000 The stocks and bonds held BY them
are estimated at par which If accounted at market
value would double the amount OF tho reserve
The Citizens Savings Bank. No. SO Bowcry, say
they have run along about evenly for the past two
months The excitement affected them but little
Last week they took In about $50o00 more than was
Ono Of the officers said IN course of convef-
sa,on that he had anticipated the failures that have
taken place among the weaker banks which have been
struggling against adverse circumstances since 1878.
The Broadway Savings Institution claim 10 have
taken IN during tho past month $4,000 more than
was withdrawn. Their surplus shown in statement
OF July l. amounts to nearly $l70, ,0Q0 estimating
stocks and bonds par value, and 44.0o0 estmat
Ing them at their market value
THE NEW STATE CAPITOL