The New York herald., 1877-12-06
THE NATIONAL TR UST.
Run STARTED YESTERDAY MoRNING-THE
TEN DAYS RULE ENFORCED.

A Run STATED YESTERDAY MoRNING-THE
TEN DAYS RULE ENFORCED.
The affairs OF the National Trust Company continued
TO attract attention yesterday In consequence OF the
action taken by the president in enforcing the ten
days. law. The Of the day previous started
run ~ the beginning OF business In tho morning
Before the company's Offices opened crowd Of
anxious depositors was gathered rcady to withdraw
their deposits on the very hrst opportunity. When
the doors opened ihey rushed to the paying telsrs
window, and for a time quite . little futter Of
excitement was noticeable. The line Of depos-
tors increased, and the anxious inqairIes
OF the new arrivals perplexed tho ofi-
ciaIa Everybody was told that everything
was all right, but appeared willing to accept
the until he had obtained possession OF tho
amount OF his funds deposit. II was very clear
that II this sort OF thing should continue the
would prove serious one. so in about an hour alter
the Offices opened tho following notice of the enforce
ment OF the ten days. rule was posted at the paying
teller's window:-
To THE Dxrosl7oRs or THE NATIONAL TRUST coxrAsr:-
In consequence OF the malicious reports In crca ri alton
regarding the character OF the company aud by tue reco
We hereby give ncrce that We require The ten days
notice under which all deposits are .es p..,...,
cordially indorss tho action Of Presidsnt Mansam in
WILLIAM q. BEST, special Examiner.
This erectuaIIy ended the run for the time being.
some OF those present contenting themselves with
compliance with the rule, others seeking explanations
from the officials and grumbling over The aspect oil AL
fairs Mr.. Best Is going on slowly with his examiua
lion, aided w several assistants. His statement to
superintendent LamD, OF the Banking Department,
VIII probably be ready to-day. HIS examination began
Tuesday morning having received his Instructions
late Monday night from Superin tendent Lamb
The latter led TO take this step 1t The
present time by observing IN the stock reports
ynat three shares OF tho company's STOCK,
1o6 EACH were sold at auction last Saturday at 03 u.
Mr. Best has already completed his examination OF the
government bonds and other securities forming the
principal assets anu is looking into the nature
and value OF the coIaterals held security
tor call loans While Wall street awaits his report IL
busy itself with EXAMINATIONS OF the as
sets mentioned In the last report made, and IL 10
claimed the examinations made show that II the CON-
pany still holds the securities question Its capital
IMPAIRED 10 some extent
MIR. MANGAM's STATEMENT
Mr.. Mangaln, IN conversation with HERALD
porter SAID yesterday afternoon, after business hours
anu while holding slip of the days business his
hand, that tho present amount due depost0rs is
81 2O6 OOu The capital oil The company ID $1,000 000
ana the stockholders are liable Tor 81, 900
But he sad, aside from Investments govern
ment bonds and other securities We have ST. 729. 600
III call loans, secured by good and sufficient
coateraLV 1t was asked whether the c0mpany still
holds the bonds described in their last re-
port and nch have deprecated somew hat snce Mr.
Mangam replied that they hold all OF those except
such as have been called. The sewing machine stock
mentioned yesterday, amour ting $4,000 he could
not vaue IL was taken 10 SECURE u deOt. The Mis-.
sour Pacific Railway Company's bonds and stock, he
still contends, are worth quite what claimed ur-
Ing the ten years the company has existed Mr..
Mangam said II has and paid $500 900 In diy,-
dends only months ago reduced It's semi-an-
nual DIVIDEND rom four 10 throc cent one need
have any apprehensions, he saId that all will not DO
found right. Tho capital ho ADDED, Is wholly unirn-
pared and The company to-day can pay 81 Tor every
lheyn