The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-24
GERMAN SAVINGS BANK.

IL having been ruynored tina, many OF the deposors
In the German Savings Bank, corner OF Fourth ave-
hue and Fourteenth street, were closing their ac-
with that institution, HERALD reporter called
there yesterday afternoon for the purpose oil ascer-
tanning If there was srun" upon the bank. In the
counting room there not more Than ten or
twelve persons 10 be seen, some oil whom were de-
posting money while others were drawing out funds,
perhaps interest," since their pass books we're banded
back TO them There certainly nothing TO
warrant the rumor OF 'run," as at tho
expiration about twcnty minutes, when the writer
left the building there was not solitary deposltor 10
be seem Ia response to question us 70 the probable
cause Tor the unfricndy rumor in regard TO the bank
the Treasurer Mr. g. +. Amthor sald:- ''On the first
payments make People hold OF until those periods
in order to get their interest Now, on the "a OF
January there were quite u number here and some
person with malicious intent, circulated the report
that the ostors drawing heavily on the bank
This year the Isl OF January falling on TUESDAY ana
our interest day being the thru Tuesday Ia January,
came upon u.s. leaving only fortnight intervening.
Then had unusual number OF depositors
calling Tor their Interest," aud this circumstance has
evidently been also misrepresented, whether wlluly
or otherwise, leaving the impression that something
unusual was gong on These are the only grounds
when can ass On for the rumor"
A gentleman OF large experience IN banking Affairs
I'm this CITY, and whose opinions matters are
generally accepted authority, was called on by the
writer at his place OF business down town, yesterday
afternoon On being asked about The German Savings
Bank he promptly replied, "ihe bank Is absolutely
GOOD for every dollar thut II owes, and any rumor
garding 1t Is instigaied by righteousness aud for
base purposes"
TIE CASHIER OF THE NATIONAL STATE BANK
OF NEWARK NEUTRALITY-SUSPICIOUS. LOANS
10 THE EXTENT OF NINETY THOUSAND Doll
LARS.
The announcement in Newark yesterday that Mr..
Isaac CASTOR, cashier OF the National State Bank OF
that city, had been suspended for some improper
transactions, created quite furry in financial and
husin gene he mo
known what the nature Of the transactions
were AS usual IN such the bank officers, when
applied to for Information. were very reticent and
especially declined to state what the amount involved
is. IL has been ascertained however, that about u
week ago Mr. Theodore Macknet, recently elected
president discovered evidences of something wrong
in the cashiers affairs Inquiry resulted In ms find
ing that Mr. CASTOR had Tor some time past been loan
ing large sums OF money to James +. Bathsato
Son, extensive butchers and large real estate own
In Newark, without proper authority or sufficient
security. Mr. Macknet al suspended the cashier
and an Investigation has since been made into the
whole affair Tho bank say that in reat y
the viii nothing by Tho transaction, as 1t has
been secured by mortgage ON the Bathgates' prop
erty.
NINETY THOUSAND DOLLARS LOANED.
Outside OF the officers It has been ascertaned that
the amount of the louns Is 500 900. The Bathgates
class unencumbered real estate. II seems that they
long been intimate with Gast0n and were on his
bond which was 5000 II Is not believed that Gas
ton pronted by the loans He was twenty live
years connected with the bank. which has
u capital OF $780, 900 aud was established In 1872 Mr..
CASTOR, the disgraccd cashier has been regarded
OF the most careful and upright men IN Newark,
aud hero is US much pain as surprise accustomed by
his fall. Tho Bathgates have long con-
Quoted a lucrative business IN Centre Market,
aud, through political Influence. have enjoyed large
contracts with local institutions OF reiormatory and
charitable character in ihe supply OF meat NJ. Will
lam B. Mott, who retired from The presidency OF the
bank on the LIST of January, declares that he was
totally unaware OF Mr.. Gaston's transactions. Mr..
Daniel Dodd, OF the Newark Savings Institution, Is
also one OF Gastons bondsmen. CASTOR himself IS
worth little or nothing.