The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1878-06-01
That Is the Condition OF what you
had In the State Savings Bank OF
this CITY, or part OF Il Has
Gone az last.
The Institution goes by the board with q
Crash, with S5t 900 Liabilities and
SAL 900 Assets, which are In the
Hands Of Asslunees.
Local Depesisor- suffer 90 the tune of
Ntneseen Thousand Dollars full
List sf Assets and LtabiIities-Ia-
eidents ON the ssreets-AIi the ether
Basks In y solid Condition.

known that the bank was in totter-
ing condition, but the bubble did not
burst until yesterday morning.
The bank was incorporated In 1876
and commenced,business on the st day
of February, OF that year on an author-
lied capital of one hundred thousand
dollars, ten per .centum.of which was
paid in. Mr.. K. II. Gruber, the presi.
dent, being the largest stoek-holder.
Later, ten per centum was again psid
in, making twenty Thousand dollars
capital upon which 1t was doing busi-
ness.
A good share OF business was ut
once obtained, at one time there
being eighty'five thousand dol-
lars in the vaults belonging 10
local depositors. The general dis,
trust of saving banks about
the years 1875 and 1877 affected the
business of this savings bank also.
From that time on the bank has been
In weak and shaky condition. At
one time last winter another banking
firm had 10 tide 1t over, bat its busi-
ness seems not to have recuperated
since then.
MIR. Gruber went to New Yerk week
before last to negotiate for q loan Of
sl5 600 with his correspondents, Dom
nell, Lawson q Co., bankers OF that
city. For the loan of this sum he pro-
posed TO turn over collatersls, worth. as
he claimed, twenty-five thousand dol
lars. Mr.. Boone, of the New York
banking firm, came out here on TUES
day last, and after making thorough
examination of the securities offered
by Mr.. Gruber, declined to make the
loan.
This unfavorsble answer was given
MIR. Gruber some time Saturday, after
which he made an effort to get assist
ance from Messrs. Adams d Leonard
and Captain A. +. Hardie, president Of
the City bank. Upon submitting his
securities to them his request for assist
ance was denied. He did not know up
to an early hour yesterday morning
that he would be denied the amount
asked for, and claims that he could
have gone on, il the assistance had
been forthcoming. The news had
leaked out rs early as Saturday night
that the bank was In trouble and 1t
was the talk on the streets nil day
Sunday.
Early yesterday morning knots OF
men might have been seen standing
about, here and there, talking the
matter over in Low sullen tones, many
wondering II at the usual hour the ban K
would open. Some prophesied that 1t
would and others that II would not
A short while before nine o. clock, the
hour Of opening, IA crowd collected on
the block on which the bank stands,
eagerly awaiting 10 see what would be
done 10y the bank officials. The hour
arrived at last and the doors remaining
closed the crows. became restless aud II
good deal Of speculation and hard talk
toward the institution was INDUCED in
The following notice was written out
to he posted on the door, but fearing
that 1t would create unnecessary ex
element, 1t was decided not to post
1t:
NOTICE!
Owing to recent heavy demands
upon the State Savings Bank and Its
inability to realize upon its assets to
meet the further demands likely to be
made, the bank has this day made u
general assignment for the equal
benefit of all its creditors. A meeting
OF creditors will be called at an early
day.
Z, A. GzUBzR, President.
IL was not long before IL became gen.
orally known that the assignment had
been made. Some laughed and TESTED
abou, the matter, while the blow that
fell upon others was pereiptible, the
loss no doubt being keenly felt In these
dull times
Without any consultation with cred.
itors. the assignment was made early
after 1t became known that assists nee
could not be secured, and Mr.. Charles
Fred Tucker, an attorney ut law, and
Mr.. w. II. CASTOR, president Of the
Exchange bank, who was abeent from
the city, were made by Mr.. Graber,
the assignees.
Entersnce through o back door was
effected early In the morning by q
HERALD commissioner, who found
the president aud cashier and several
depositors In conversation.
Mr.. Gruber seemed averse to having
the matter inquired into, and rarely
ever answered question without
profering his advice - to what ought
to be said In the newspapers. 1t wss
like pulling hen teeth, 30 to speak, to
get anything that was not generally
known, out Of any one. One or two
rests were taken by The HERALD man,
but lie would go Ia every now and
then to see what he could see, and heal
what he could hear. At one time be
was given gentle hint that III wa
Just As agreeable to him he could take
walk and increase the crowd on the
sidewalk In front. He rstreated "a
the outer door while "the private In.
terview" was held, and was then nd,
mitted whenever he chose to enter.
1t was learned that the following A.
sets and liabilities were filed In the
Office OF the district court clerk, tor
gether with the articles Of agreement
between the assignees ~ party Of the
first part and +. H. GrubeF, - party Of
the second part, duly authenticated BY
. notary public.
ASSETS.
Account OF Bower r o.. @ n
CAbeil w T.. ...-.,..........4........ ~ @
Davidson l. l.. .....--....4..-....... ] 81
Grimm q H.. Observation-Disclosures. q q
Harrison w r.. ..--.....-s-..s..... . %
Heslsy q H...................... Is 90
Heiar q w............,........... u =
Jones . spatholt .,....adss 10 q
Mitshis Mrs. 9 NEUTRALITY-SUSPICIOUS.. 10 q
Mayer N, per IA C...........-....... 733 ~
New York Clothing H01se ....... es5 -
North Texas Elevator Co.. .s......s vS5 ~
penniman Mrs II o.. ......4s,... ll5s %
Fh0nfx STONE Gu ...-...4.t... a 02