The New York herald., 1877-12-02
BROKEN BANKS.
MEETING OF CREDITORS OF THE NEW Ro-
cHELLE SAVINGS BANK-cHoIcE OF RE-
cEiyER-rHE PROSPECT pRIGHrEyIxG

MEETING OF CREDITORS OF THE NEW Ro-
cHELLE SAVINGS BANK-cHoIcE OF A re-
cEivER-rHE PROSPECT nRIoHTENIxG
A meeting OF tho creditors OF the New Rochelle
Savings Bank was held last evening IN the Town Hall
OF that place and choice made OF receiver Tho call
was issued yesterday morning. ny OF handbilis
and throughout tho entire day tho affairs Of bank
and the probable action Of tho depositors all
absorbing topic OF discussion. Al ngntfall groups Of
takers gathered about tho Town Hall and tho bank
which is directly opposite 10 It, and before eight
o'clock tho crowd numbered several hundred
persons, nearly all OF them depositors.
Tho deIaulting Humphreys was bitterly denounced
on all hands, nor wore the trustees permitted to
escape uncensured- An old white-bearded quick
spoken and brish,eyed. himself not dcpositor, ap
proacned handful OF workmen who wcro earnestly
discussing their wrongs and advised them to attend
the meeting and do what they could in that way but
not 10 take tho matter TO law. 'Hold your meeting
and bring public opinion TO boar the officers Of he
bank and you'll gain your pon.'' ne said; 'rhsy'il
be glad enough to pay you back . hundred cents on
every doIlar"a ir @s
''Yes," said workingman. sbut we'l take ito
law. too for them should be In State Prison"
Keep out OF tho law the old man insisted, "lf
you go to tho law you' be paid in the law. Uso
public opinion and you drive HIM out OF town
no idea OF the power of public opinion; irsth yoco
or God, you know, but you've got 10 be careful how
"You,rc reht. man, you're right ~ shouted another
workman, and those who wantod TO s'go TO law"
sllenccd for tho time beng moved OF To the hall OF
the court room, where the meeting was 10 have been
held; but there being chars II all adjourned 10
the Town Hail. on the floor above, whero there were
plenty OF seats but no hre.
About ono hundred and nfty persons were
present, mostly men, women and youths
Of bsSs ss with a0m weight Nor,
withstandng tho grievance which they had met
10 discuss and tho extreme ch,ll,ncss OF tho apart
ment in which tho discussion was 10 take place, tho
general feeling scSmcd 10 be ono Of good humor ana
not OF bitterness. lie meeting called order by
pointed chairman. with Mr. Edward Covers as secre.
tary. Mr. LcoOunt briefly stated tho object OF tho
meeting and ead ,ha, tho prospect much brighter
than II had appeared earli.r in the week.
Hc counselled the dcpositors 10 act VITA
s might Sc n qesu. a.
and that OF the Attorney General IN their case 1t
then proposed 10 select some prominent business
man in the town to bo recommended to the Attorney
General for the position OF OF the lnsolvent
bank. A ballot resulted in tho choice Of Mr. Edward
izen who received sixty Ave against thirty
Tor William Lecount and twcniy-thrcc for Albert
made unanimous and resolution adopted urging the
K comm,itee Of Ave was then appointed 10 CONSUL.
with the officers OF tho bank as TO their inteudcd
course OF action The committee crossed the street
10 tho bank. where President Pcnacld and Que two
other officers wcrc present, and returning reported
that tho trustees had expressed themselves as
fully IN sympathy with the deposltors, VINO, they
trusted, would, IN time, receive thor principal and
interest in full Some one suggested that tho time
might como till they were all dead aud buried tho
remark provoking much laughter and applause. A
standing committee oil tbree, consisting 0l Messrs.
George +. DAVIS. EDWARD Covers and Henry NJ. Lc-
count appointed 10 consult with the trustees tho
latler having requested the appointment OF such
committee
ACTION OF THE ATTORNEY GENERAL.
summons issued by the Attorney General was
requiring them TO show the 10th December
why receiver should not DO appoiItcL. 1t was
derstood during the day that the floating deficiency Of
$1,000 had been made up bv the president aud treas
urer The whole amount oil deposits IN the bank at
the time OF tho failure about $460U0 the largest
amount belonging to any one depositor being u
$1,000 or upward; but the majority
tar below that amount, in many cases
not exceeding lew dollars. Tho amo1 OF the de-
abscondng secretary. is $4,000 but ony oue-na OF
amount has yet boon found unaccounteu ior Tho
sale OF his possessions IN Now Rochelle viii, Is
ana hero seems TO be some hofe that depositors
will recover all their money. On tho other hand,
there those who fear that y-nye ou
dollar will be the extent al tho recovery During
sf the morning. sf.ernoon' ana svening for there.
viewing oi bank books EN.i
Nearly all Of the 420 dspositors hAvc presented their
books and hao them reviewed. In addition to the
$12 600 deialcaton deficiency Of So 000
have been kEown the officers OF tho bank for sew
eral years. Tnis Humphreys claims was
of the failure OF The institution, which, he says
on the high road 10 rum when he first became con-
nccted with IT. Mr. Martin J. Keogh, who 10 chosen
by counsel Tor the bank. has declined
TO serve, beng satisfied, 1t Is SAID, with the action
ot the bank officers In seizng some real estate which
Humphreys had left Ia trust the hands Of two well
known clzens.