New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-03-07
NETWORK SAVINGS BANKS.
srArEMENTs on OFFICERs.

RE C1osFD-GENFRAL RELIANCE OF BANK OFF,
GERS on PUBLIC CONFIDENCE IN THE INsrTU-
TIoNs.
The publication III THE TRIBUNE yesterday
OF the returns Of the savings banks OF this city for 1870
excited much attention. and the figures we're compared
and commented by bank officers and depostors he-
porters of THE TRIBUNE called the officers Of several
OF the banks and made inquiries as TO the prevailing Iee
ing among them in relation to the condition
of the savings institutions. The prospects OF the
smaller banks called ont many remarks, and II was
stated by a prominent bank official that Bank Superln-
teent Ellis had been comforting with the officers OF the
largest savings banks to the proprety OF closing all
the weak banks Nothing had been determined, as all
the banks now open we're believed to be solvent. The
question however was sti under consideration super
intendent Ellis declared last Fail that no savings bank
could live through the hard times with total of deposits
less than S5OOOOO II was understood that the trustees
had made up all the deficiencies in the smaller banks In
order 10 begin the year favorably.
An officer Of one OF the large savings banks stated yes
terday that these institutions were dong about as well
this wear as last year. There was falling OF in the de
posts OF certain classes OF deposos aud an Increase IN
those of others The principal difficulty bank officers
had at the present to discover where to loan
the funds to the best advantage There were very Few
frstclass applications for money on mortgage Money
was wanted mainly by persons in embarrassed circu-
stances who were unable 10 furnish satisfactory secu-
rtY. InQOuUuu bOnus OF CUES hhu Twins ia INN '''
were selling at premium, and It almost impossible
10 obtain seven per cent interest clear on new invest
nents As 10 the small banks, 1t would be necessary
for them 10 manage their business with great economy,
IN order 20 keep the confidence OF the people and IN
crease the number Of dopOstors The pressure OF the
times and the reduced incomes In every line OF Dusln IS
necessarily affected the institutions. net gam OF
one DER cent 10 the bank interest account as between
the bank aud its depositors was rs mnch as new eh,e
re rnud reasonably hope for. With deposits amount
Ing 10 100000 there would remain only 900 TO the
bank with which TO pay rent salaries &C. IL wa Mas gen
banks last Fall had advanced the innds necessary 10
carry these banks through and protect the nSp9sl"IS
until the earnings should be sufficient 10 cover MI 'e tx
penses.
STATEMENTS FROM THE SMALLER lNsfIlu IONS
The Secretary OF the Franklin Savings Bank reported
is surplus ~ $4,000 The officers had caused all the
ploperty on which the bank held mortgages 10 be
car fully examined and reyalued and In only one lh
stance were they obliged 10 reduce the amount OF the
loan They were managing the Affairs Of the bank on
conservative business principles on Jan. they had
cash on hand and in trust companies over S2oO'Ooo
large portion Of which they had invested aterward IN
RrnnRvu CITY and other bonds. TIE statement OF the
Bank Superintendent Of the condition oil inc savings
banks had been fayOpbly received ny the punhc' du
the feeling of dstrIlst was fast dying out o., -,
officers had found much dlfhcuty IN investing tue
money of dcposors 10 advantage that they had been
obliged 10 decline deposits any person In excess
Of 5000. IL did not pay the bdnA 70 fe.'iNc w w
ent yearly Good bonds we're sought after at figures
,,nne from Ia IS per cent their value. aud
1eT S HI pd TO deposition Tn. officers tho Bank for
Savings in Beeckerst and mo BOWefy aNlnSs pau if
mad increases deposits as the result OF the a
Al The East side Savings Bank for Sailors in Cherry
81 The Cashier George T. Duncan, stated that THIS INK
was more OF beneyOent institution tnan ANYTHING else:
most of depostors being seaarng men The rate OF
accrued from rent or salaries they paid from the
shipping COMMISSIONER business and other business
nlSid r. swan secretary Of the Clsnnont Savings
Bank, at No. 2l7 Greenwichs said NAT this pahA Was
small and young but healthy. Deposits on Olu bccoun's
were Increasing, and accounts were being opened
daily The President, Mr. BrDadNe received no salary
ton formerly No 100 siKlhayc stated ila though
This bank is quoted in the Bank Comusslone report as
having a small surplus, IT II closing mp us accounts
Alexander NJ Lesley President of the Trades savings
b NIX AT No. 22t West Twenty-thind,st, said he lau
been talking with several banhnS o,h.,fa uuihs tne
day and the general opinion was that tho public con
ndence was stronger aud that business Nond Improve
during the next month A fle mon.! hau p' ~, u.s.
during the past four SIX months Inc bank Gld au
encouraging amount 81 business Ee'eruay. III nc
port Of the Bank superintendent u Us gwen as haIns
1l91 SD9 total resources AID Nl2o3GS due drposlt"s
The bank has good prenisr pay very g 9 r aad
the officers talk hopefully OF building up large ana So
The clinton Savings Bank is at No. "a Eighth ave,
aud by the COmmi report has FlJ2-7l total r.
snurcSs aud SI5OI6s due TO depositors. o. +. smith,
the secretary, the deposits OF ccnes nave iaen
OF considerably, but the depOstors ara" very small
s,d me bank 10 any large extent, are now making &C
counts the bank in November Ma Tlb@,oVO IN de
n.
lair surplus The annual expense for rent Is uny 5000
BUSINESS is improving shguy, aud tho deposits exceed
The Abingdon square Savings Bank IS put down by
Commissioner Ellis having Ti5O,9lO total resources
business "a very uneven during the past Is months
There indications OF rcvivng confidence ana DUST
ness, though ~ says tue prospect VIII not DE- bsht uh
mechanics and lab0rers are furnished WIN siehuy
Tge West Side Savings Hank atEo 1854 Sixth ave, has
by the commissioners report TJl3O5O total resources
md $40 ST. depositOrs. JOhn III. Hudson, the rec
rotary " steray expressed the opinion that The savings
banks mad now tle confidence OF the community ana
tnis was all that ia needed 10 healthy business
The Expenses Of the bank were very Lg the rent being
only 800. The only bonds taken were those Oh ih9
County. There plenty Of money IN the HAMS OF
capitalists who Investing 50 largely In these bonds
that they came directly ia competition win inc savings
banks
william NJ Banks, receiver Of the Security Savings
Bank has obtained from Judge Lawrence an order eX-
tending his time to declare dividend TO April i. Her
man Uh receiver OF the German Uptown Savings Bank
has obtained order authorizing him to defer not more
than 80 days the payment OF second dividend until he
can my one OF 25 per cent He states that the liabilities
OF the bank exceed Sss0,00O distributed among about
4 500 depostors; that he has $4,000 on hand, and
hopes to have enough soon to pay - per ceht
The referees report the accounts OF Jeremiah GUM
Ian who was removed from the position OF receiver or
the Guardian Savings Bank Peter ODonohue being
mn M his Mace was fled yesterday. Tho new receiver
made objection several items, and AgcrnOn Sullivan
10 several Others the chief charges being that Mr. Quin
Ian had dated some receipts, charged items not
aiowabe and inserted others not belonging To the
count referee finds most OF the charges true, but
allowing S2 800 for COMMISSIONS comes To
little different result from Mr. Quinlans accounts. He
makes receipts $500 9l 2O the net payments
S3i3 o5I 90. which, according 10 the receivers state
neu leaves Sl3 236 81 To be paid IN cash 10 the
new receiver apparently mistake OF II 900. The as
sets already turned over are nominay about S232OOO
but will not probably realize One-halI that sum.
n EONErpENCT