The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-07-19
RUN ON A SAVINGS BANK

CASHIER MANSFIELD, OF THE CONNECTICUT
SAVINGS BANK, IN TEMPORARY ABERRA-
TON OF REASON, ATTEMPTS SUICIDE, WITH
THE RESULT OF INDUCING MANY DEPosIToRs
TO ASK FOR THEIR MoNEY-THN BANK SOUND.
New HAVEN. July Is. 1879
run was caused this afternoon on the Connec-
ticut Savings Bank, said by the most prominent
financial authorities to be one of the soundest
in the State, having s4.ooooOo on deposit through
the sudden alteration Of the cashier John W.
Mansfield, manifested by two suicidal attempts.
Mr.. Mansfield has long had the name of being
one OF the most careful and successful of investors.
but the failure OF the Townsend Savings Bank. I'VE
years ago. engendered spirit of disrust which the
most positive of trusted citizens under
the circumstances. were unable to combat success
fully. At eleven O'Clock this fornoon Mr.. Mansfield
was at the bank. apparently in the enjoyment Of
excellent health. Without any provoking cause he.
tive minutes afterward. gave unmistakable indi-
cations of alteration and shortly afterward he
at the Union Depot lying on the railroad track and
asking an engineer to kill him. Being drawn from
this perilous position he leaped overheard from an
adjoining wharf and lay on the harbor bottom. and
when boat came to his rescue he expressed desire
to be killed at once. Mr.. Mansfield being happily
situated in his domestic affairs, wealthy.
and having the confidence Of all classes of citizens,
the nervous depositors, when they heard of the
occurrence, placed construction unfavorable to
their own interests on the matter. and within an
hour after he had been taken to his home. nearly
dead they began to present books at the teers desk
for payment. This became speedily known, and
during the afternoon. to three O'clock the hour for
closing, the bank was packed. The books pre-
scented were mainly offered by small depositors.
THE BANK STRONG.
Other banking institutions. it was understood,
if necessary. and the bank manasement " preferred
not to take advantage OF the legal provision for
delay of ninety days before beginning payments.
Governor English, the president. said that the in
sttution In splendid condition and that
everything is right. and the bank has more
money than it needs. He said to reporter
1--WE have $4,000 in cash and 100000 in
government bonds and half our securities con-
vertible at convenience. 1t has been point to so
conduct affairs that special demand for money
could be met readily. There are no bad loans, and
the ank has had no connections with brokers"
He also said that the investments were largely in
government securities that the institution
never takes in n. excess Of six per cent in
money that depositors have been written to for the
purpose Of having them withdraw deposits. Gen.
crr - tSs = English ana t% thr
was to conrovert them was the feeling of prevailing
distrust.
A SPEECH BY THE PRESIDENT.
As the rush grew greater late in the afternoon
Governor English made speech to the dcpositors.
rather novel occurrence in a banking institution.
the trouble that has come upon Mr.. Mansfield will
not affect the bank in the least. Mr.. Mansfield
held none OF our money aud owes us nothing,
and if he did he has ample property to secure all
claims. The bank has money at command to pay
you all; In fact, shall be glad to have you take
out all that belongs to you. Give US time and we
have half million dollars that we shall be only too
bank since it started, have worked with
out cent of salary and have always
kept watch and guard over the depositors' money
1t is not likely that shall see you lose any
thing shall be glad to have you come; only come
orderly. come in reason, and pledge you my honor
and my property. If have any, that You shall By
paid in full"
His speech had the effect to cause some of the
depositors to withdraw satisfied, but others will
doubtedy the run in the morning.
The position and general esteem in which
caused much solcitude concerning him this
evening. His physician said that he had
recovered consciousness some hours after returning
home and his sanity also returned. though he at
loss to understand what had happened There is
little doubt but that he will be sufficiently recovered
to be on the street within day or two.