The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-11-24
BANKING In NEW ROCHELLE.
NOTTCE GTvEv LisT WEEK TIIiT THERE
WIS WF.iK MfStGENENT.

WIS WF.fK MfNtGENEN1.
Dcrreito,- Asking for their Money, Although
President Penneid sry- TINT the Bank L.
Sound -somc very Singular Financicring.
For some time past there bavc boon ru-
mors in Now Rochelle TINT the savings bank
in which most Of tho working people OF that
village deposit their money was shnky. On
Wednesday last these rumors had gained such
extensive circulation that there wHs an unusual
attendance OF pcrsons who wished to withdraw
their deposits. whilo thosc who desired 10
ndd TO their savings were conspicuous hy
their absence. II was not oXaHly run.
hut this IL TO be accounted for 10y the fact
that the bank requires three days notice before
any other than triiing amounts can bc with
drawn. Some OF the villagers say that tho hnnk
officials avallcd themselves Of the sxty-day
law. but this tho secretary denies The
bank il open only on Mondays. Wednesdays.
and Saturdays. and II is expected that to-day
there will be run which will scvcrcly tax its
resources. Tho rumors Of the unsoundncss
Of the bank arosc probably from suit brought
TO foroclC'e the property Of n German In West
chester. The defendant in his defence ctuptho
plea that tho mortgage bore interest beyond tho
rate allowed 10y law. Hycrring that tho bonus
that he had 10 pay was equivalent TO an addition
to tho rate OF interest This auit tended TO un-
settle public confidence. and tho fnct that the
s''r'aty oi the phhh ured'd u we institution
| certain real estate. which Will bc mentioned
| hereafter. did NOT tend to rs'sahlish IT,
Tho New Rochelle Savings Bnnk was incor-
! pOratcd in 1865. In tho report OF the banking
| department for 1877 ia resources are sct down
| at $50 %. and ila liabilities Mt t52 99l 30.
| Its surplus wHs 1854 81 or the nescts. tii-
iiiiO were IN Government and town bonds and
t32. 20O In mortgages. The cash on hand WIS
s36sGis. and tho cash in bank VIVA ti.ii6l7.
dep,,itors. and det duo TO the National
Trust Company OF New York 5000.
sIjj. Of which $3.50 was the salary "
ihr Srrr'inry Tn" largest account due amy de-
positor Jan. I. 1877. WIS fl.Gt32j. nnd the
bunk bald ~ dapo-i"rs ak per cent int,rc.i.
On the i7th Of November several Of the trus-
from thr Banking Department that the bank
was not in "a sound coud ton. The following is
IA copy of the Bank Supcrintcndents letter:
sr.u Or NAw YonK B,NN DRr.rwrsrl
ALsASr Nov H. n Z
- - r,ss'~ ... q,
r'nad yat .nen, Sl.x wi,h s .,n mr
halk saIi rrrori shows the bank 10 he insol,rni
mnN be Hlrh,i Or sha'l lS eomirilcd to put the bank
,", @ i@n9 u' HIy 10 e',. ,uf H'N hiOh 10 my iet
~ Xlxr l. LIS Reins ssperi,teudent
q, Ihe lorer TO President Peniield; referred to
IN mi Xxx above ySminuncilion called nl,on 10
! - '''"
anu 40. II - snlu. to ths unnue proportion 9i
Nor nyiisaEes hs compared WAN casl ana readily
"t,nn,, lt"i, "~-''s', , =,
a " nnIu nIu II vl We pahk hr" urorgr y. ron
WW,.n; ni'1iu'ht re- Iis u nlso lr,ellrnt oi IN,
| VT ,h,tur lhsutnhue company hni u said
Vn "c"npnyi ihuppuvwnr mo, Nlcc-lItsl-
! Enl - h's'7'Sr ui, We-' un,~leT county.
oinHS .D"t.nh' S'.ohN Nlcel ,ir'rluen, IN
udr,Hs s ~ uno NVT iprk ncaNn Drpart-
nirh. in"nihs L. ,D'spr"W. lrcasufrr,
~ "a, "a :, siVnt,h', n VT, ny rs wei,thy an
Is aelu 70 nave onered 70 BUY all bo9ks ohtrrd
81 q 70 'o ~ ceni. ne oe,rotuy Ia Wlitlnm H.
nuunphIY,y' ,uIugSi. ~ VINO Is iItSlurht OF th1
Ni,,,-', oussie' vi ,l. 'h'', uhi Ihri.c rem
Mr',na" M oWhut, mr T.M'r" ~ ~ @ ,iie NsniH" 'wrnty
~, Ut az 10 sa' ucnot' ihcso Vnlccis are al
| " ~ tl,, ,r,,s,,,, ,-h. A, ,., ,.i, .ca . 49,.
- - u7''.' W. w ~ i',r ~ NHl-" "lN
Jesse t,iehrorK, grocer de"rge Wilson. gen
| t"man Goprga W. DaNid5 Of ThndI"us DHNld-
4 son. the New York ink mAnutartur, n. who
| IL Tr.,surrr nf Wrstrh..t.r rntutv ii .nr,,', n
A.t.rr,.u J, N.,x N,rk l,r,,,r ,,,,y,,i,r -, 49,
~ - @ a. , ,oni'I i Wilo "
~" 1l,,v VI w 'ul'i 'iSpl9 ~ '.u oNh r. lNnrd
| ana ia 'oh Ctawsurti. roal and lumber dealer.
| Mo-' lth,s' srnlit men s'ihd high n the CON-
nun, nun, M nni W ~ va, n.nA' Nnlvn Whs lnor-
| l'lu''" IA 'pp, nus IpuE p'~s''s7''d lhe conU-
| drh'e OF me vi lag. some years ago IA r"
| over q 900 the rNcltoment sulHidnd
MIR Humuhr,.y lin. Secretary NNhn Ia . ai,v,-s
boon the active man of the bank, said last
! evening u sun reporter: "We do not
| consider the bank in any danger un-
less some evil disposed PERSONS prom0tn