The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-08-13

Ofd-Time Banking.


A GOOD STORY OF THE GOOD OLD DAYS OF
STATE BANKS.
IFrom the Detroit Ncws.l
Some funny stories are told Of business
methods in the olden time, one Of which
will bear repeating as an illustration OF the
advantages silver dollars possess as bank
reserve, and which, by the way, we especial
ly commend to Secretary Sherman.
The old Farmers and Mechanics Bank
was established in Detroit in 1880. In 1915,
owing to some disastrous operations in
Ohio. It was temporarily badly crippled,
and 10 tide over the crisis the directors ient
their best energies. The bank had large
volume OF notes outstanding, all redeemabie
in coin on presentation, and it was apDre-
bended that the moment the condition OF
the institution became known run would
ensue, compelling the closing OF their
doors. Nowadays a bank officer would
throw up the sponge under such clrcum-
stances, and suspend payment like little
man, but then bankers were both bold ana
fertile OF cXpedicnt. The coin had run
down very low, and there was no time to
be lost. The services OF friend OF the IN
stitution were secured, and he was private
" sent to large creditor (Lycll, the subSc-
ouentlv deiaultng banker, bv the way. to
whom the critical state OF the bank was
whispered, aud the wisdom Of some mea-
sures for seli-protection suggested. Lycll
snapped at the bait, and, upon hlnt from
| the of6cious visitor, rushed around to the
nearest court and got out an Injunction FOR
bidding the bank to pay out any more com
pending the order OF the court. This
ctfectually saved the concern, for when
notc.hodcrs subsequently presented the
banks papers for redemption they were
politely met with the reply, "Wc should
be very happy to oblige you, sir, but ur-
fortunately we are for few days tied up by
a process Of the Wayne Circuit Court. We
hope the injunction will soon be dissolved,
when,' dc.
1t was late in the afternoon when the in
! junction was served, and the stock OF coin
! had some hours previously dwlndlcd to
S53. The cashier mean time was on nettles.
! IL the Injunction did not come quickly the
| concern was ruined. At every opening OF
| the door the poor man trembled in his
shoes lest the newcomer should be note
| holder in quest Of com. One more demand
would close the concern forever. Slowly
the clock licked OIL the minutes, full thirty
| OF which must yet elapse before the hour
OF closing. Would that injunction never
come, At last the door opened, and
nervous bustling man buried to the cnun-
ter The cashier saw at Il glance that 1t
was all up with him, but while there was
still hope, lie thought.
"Here, Mr.. Cashier, Pve got $500 OF
your notes want coin for"
The cashier endeayorcd TO preserve a
placid exterior while he deliberately be-
thought himself how he might delay re-
fusal of payment for 4 little while, until,
pcrchancc, an officer would come in with
the hoped-ior Injunction.
$50 YOU want coin for your bills, do
you?" Suavely remarked the cashier, ganc-
| ing with the corner OF his eyes through the
open window into the all too quiet street.
| "Why, yes! 1 live in Dexter, and I
want to catch the O'Clock train; so
please hurry up the specie"
"All right What's the news in Dexter
How do the crops look? How's my old
friend -! Is he living there still? And,
by the way, what in the world can you do
with specie in that little country town that
Farmers and Mechanics bills WON'T accom-
phsh?"
"Oh, never mind. Give me my money,
so that ! can catch the train. The fact is.
there is little furry out there about the
safety OF your bank, and l want to make
sure Of my money"
"Ha! ha! hal" laughed the cashier !;
"afraid of our bank, are they? Well, they
must be getting pretty fastidious when the
conservative old Farmers and Mechanics
won't suit them. Why. my dear sir"
"Nevcr mind the pedigree OF your bank,
but give me my money, or | shall miss my
train"
"Ccrtainly, my dear sir" (Anothc1
glance through the window, but still nc
sheriff in sisnt.) aside: "What shall
dof"
catch nv train. Ii you will assure me
upon honor that it is all right, and that the
bank is not going to bust, won't wall
now. bu. if you are going to shut up want
nv money. Come, how is it, old fellow 20
r "Really, sir" replied the polite cashier
"you place me in a very delicate position
If / tell YOU the bank is safe, and anything
happens hereafter. you will blame me; on
the other hand, if I tell you it is Shaky |
shall be unfalthful to my employers, and
shall very Justly he discharged. l prefer
not to make any statement. but SIMPLY
count out YOUR thousand hall-dollarS." :"
(HaIf-dolars were the principal coinage IN
circulation at that tme.)
| Turning, screw.driverin in hand. to strong
wooden box, apparently tightly screwed
together, such as silver coin was usually
packed in in those days, but which the
lcashier knew very well to be absolutely
empty, he wiped off his brow and set him.
sen to work as il to an herculean task.
The man glanced at the clock, then at the
irou-bound coin box, then mentally ealcrl-
lated the weight OF thousand haf-doliars,
then burst out with: "Never mind; see
you have got the coin, and III be ID II
I'm ,aeing to pack thousand half-dol lars
all the way to Dexter to-uigbt. Never mind
Mr.. Cashier, won't trouble you," aud out
of the!bank he darted.
TIE injunction was served soon after ana
the danger passed. But the old Farmers
and Mechanics still kept zap the habit or
being short OF coin, and did so till the last,
when nearly twenty years later what was
left Of 1t Has consolidated with a-plVate
bank, and became the now prosperous
American NationaI Bank, OF Detroit. Ihe
worthy cashier still lives in Detroit, ana
finds bonanza OF enjoyment in recount'ns
the amusing incidents Of old-Ame IMAM
cieTing.
The Comte de G. at the Casino OF Trou-
Vile beholds a gambler OF the Greek order
OF architecture playing fcartk With gen,
rIeman. The latter loses and retires. ana
his place is taken by another gentleman.
The Count: "Do you play honestly.