The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-10-10
THE SAVINGS BANKS AGAIN
fONE EINrESTTGATISG THATN1T EN-
LIGHTEN THE DEPOSITORS.


The Case Of the North River Institutieu
stated Once More-W hat the President Of
the West side Hank does not Wish 10 BAY
The n Resienatiop Of Mr.. John Hooper.
:" Hard earned wagesl ! should say so,
srl Tho wife and the childer, they oil con-
tributed. Now. do you think sm going TO see
them robbedi" so said the man who stood in
from, OF the North River Savings Bank yester-
day liam a 'Ionesh ore m an, sir, aud when the
strike took place went out, like every other
good man. since then have hsd only days
work here and there, and this little money that
we-ths wife and the childer and I-had laid
aside is not going to be lost II l can help IT,"
The attorney for the bank said "In July last
the trustees decided among themselves to get
nd Of Mr. Hooper as PresiJent. Not wishing TO
hurt his feelings by giving a decided vote
against bis reelection we sgreed to cast blank.
AL but two Of us did this, one Of the two being
hr. Hooper himself. No one else having been
voted for, Mr.. Hooper was reelected. Since then
NC have opposed him in every manner
Another gentleman stepped up and said that
The President ought to be hanged.
"why1' inquired the reporter.
"necause. sir lie has brought all this trouble
upon us when there was no occasion for IT,"
al HA. Ne deirauded the bsnk7"
"No. sir" said the attorney. but be ad-
vised people t. withdraw their deposits. We
knew tli. Ior some time and feared to say any
thin beca Sc We thought that II an issue was
rade II v uld set into the Newspapers and
run would be rnaoe on the bank. Mr.. Ellis. the
STAT supenniendeni OF Banks said he would
remove Ann upon our statement, Tue bank IL
solvent. and when tue run commenced we drew
Oh cur cash lance Ia the West side Bank to
NEE. the demands Of depostors."
Then you had cash balance In the West
Side Bankf
Yes. sirl"
"Di- YOU deposit securities In that bank to
draw agaius;f"
"ho,sr! wedrew against our deposits"
Mr. Moore. the President Of the ives; 81 de
Dlrk, says that be furnished YOU money on ss-
curnes de.os.ted with him. the reporter
added.
AZ er a l';ile colorins in the face and some
hesitation. this attorney said "Oh, yes that
wa' today, not Saturday. We Grew our cash on
Sat rdly.'
Nr Moore. the President VI the West side
BanA "a state oansl said: whenever the
No!tn River savings BAnk want n onCy they
send 10 ne ani | let tAem have II. Ine last
ststemeni OF that b ank suows Surplus " an
b5%.. l hcid now $1,000 In New York and
BrooSlyn, CITY bolos which the North River
ssv'n-s Bank deposited with NE 10 realize
money upon TO meet the ue 1snds OF It's de-
positoIs. loon t.is security hive already ad-
vanced <-olpl Voc kno" II lakes long time
20 Ply oni S,u.tci IN dfi lets, possibly before
the margin Is ieacned the run will h.vs
siOl ped
In reply 10 direct question whether be
would De ~i!ling 10 take tn assets OF the North
RIVER yinss Is INK ana assume the lisbiliuss,
hr. Moore sail emph ideally, mo, sir"
The trustees net last evening and received
the following:
sAtINss sNk s,',n.-n. "a, invited 1. tns frssi-
isc, uroa il. of..,Lsuo4 in iSes Each .aese.sivs
ysM have 81 vita s4n2.I tne same ua.-
pnse slthori suy outsDcSen OBJ! c;ioa. 10 my mslae
die o ~ & az nm ~ .e ant o. Sss'Iss 70 ne
i:si oa. so' .lieieai y dsts. ny sise ion
a. g'ise5s ,ss n, ssi; ..s 81 Isrosy
s.sto,s rs e;P..tgiy rs'sn ny s9:;sSa og,S
hav,. At. iim. Aaa II eyey w,y, NJ auly, With
eei7ias ny coneeas 'uen snatsoeSer. VI ~
NV oEK, Oet. ., ls7e
Previous 10 taking action on the letter the
trustees iassed resolution to remove Mr.
Then bis resignation as trustee was accepted,
but IN the mihutes II was written that he hgc
aysaiy ,e"r ron ,s,1us Iss1os' naa
ba'ir copy oi tie resolution th.t was passed:
~, 81 ihai &c e.saeei Of NJ Joan Reep.r n
-. -. " We 'rls;ses y; ta.s IA vita -a, IN
cone qleA-e .i ls Lie 1ae While frcsl1tEE OF ia
L a. - se'-e sep - t ast. beel iasa,ed 70
tlrA~ t-iI s'yo' - .aeI inla' 1sssry,s ne
The oricsrs OF the Abingdon Square Savings
Bsnk let the man In the moon have our money,
and ~e cap tfusE to the u n IN the IA oon - pay
US said Mr.. A; {. Ha-s.. VITO MAs euporary
tbsi bank last eveniN. hr. Hasse eoDunuso !:
"There are ~ l4oS here 10 tuis meeting sacn
the otaer 81 coo IL the s-spenled bank. these
old ladies n4ve teen r@islDa their money for
and helpless. Nov tnis money h.s gone 10 tue
winds" NJ. haass intmated that there nsd
sse ,nas s ts a.. Sas
name 10 the transaction.
Ar ". l. sehusldsr, a deposition. called Mr..
HsAse a liar, 4nt then .ir. II iase i'd that Mr..
schneider TAD come TO the meeting TO white
wash tbe trus sss. More angry words followed,
and The Dert1g hearly broke % Ia disorder.
Mr.. hA44e gSested tnAt peE.n anent C0air
man Be seiectee, aad Sir. ". Wnants was
elected. A perm nsnt yrgsliZsiion IVES effected
q the Abingdon square ssyiG.s Bank De-
positcrs AssoelauJn."
Mr.. III nupsou, the receiver. said that, e1cept-
ins about 5000 tuat be found 10 tue safe, tnere
w. boil-ihs IA .he SD pe Of imL ecia,s.y ayaila-
tlr securities. II would ts unwi-e 10 enforce
lur : lie ~ The oaAk s interests 10 rral estate.
Ihr safe IN the bank, which cost about t5.UvO
could oe sold for s+u. Tue hanover DaiIK in-
inGlou se-sTe concern. lie sl5lOy WIS loan.
iahsHt Is prooatle, as the Hanover BAnk
means T. icrcciose n ulur,ga2s II nDlas Ass.clTi-
sIo-d 10 lreaiec alike.
Il tou4iulIlee as sFLoiuted 10 take such &C.
tlln a. may Dest protect DC posi- tors' intefests
IL - shd thAi seyen OF tns r4sttes have
agreed 10 con'noute s2,Cco apiece toward gyins
LepOsiitEs tnelT u -neJ.
. In toe uuion Dime savings Bank not more
thAu thfee OF IOgr persons were az the counter
blr. Hnines, me President, sat tina. tue bank is
smuly ]pis 10 meet all den ands II ce ~ ds
rostors. Ills books, however, snow consider
huie la.lus n 10 deposits. On NOAda,, tue
p Of O-tooer, there were 3Ol aepJsits, and on
eatef4ay l-st here were only ia. YesseTdGy
NJ u ncl ck' tl9pB had been ID out, aud
onlA 500 had bten received. lie greater p-Ft
81 the receipts cAAe IRON other bAuks. ms
foio"ins = he e1aioit of drAf.s aaI eyoslis:
Oct sIsece!yee 81 G. t4ss67 =
bct -Pa.4 20 u II. ................ ~. VI
tict S-H-,sNc' ~ aesoss .............. -o557 n
a. 81 80 4Af LFa4kt
ncf o r. ceivr- sooLi...................... 90 "
O~' A44 @vSss's 4-ipJ W
With regard 10 the new scnes q, Broadway
and lniTtJ-secObd street., sir. halLes says that
lts cost VIII APPROXIMATE tl5uOyJ. lie tnLught
OF one time tbas ~ would pay seven per cent. Uu
the Investment. Now hS ls in douoI " hether u
viii pay siX per cent, taking 10 the BANKS
rental. lie acknowledges thai several trustees
opposed lne removal OF the bank and tie put
ting W Of 50 expensive q strueturi. Hose
tTlslees, lie says, do not nov deposit la the
bank.