The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-05-18
EVERYTHING QUIET.
Rams on che brooklyn Banks Ended-Condi-
ton OF Other Ranks.
IBy telegraph 20 the Dispatch.I


| fBv telegraph 20 the Dispatch.l
WASHINGTON, May 1.-THE Comptroller
OF the Currency was this afternoon notified
by bis officers in New York that the banks
there continue all right, and that every
thing Is quiet. The redemption Of called
bonds In New York to-day amounted TO
only s323,600.
| New YORK. May 1.-THE run on the
/ Brooklyn Savings Banks was ended to-
day, and parties were returning their mo-
ney at the banks. At the office OF the At
lantic State Bank the affairs between ii and
the Metropolitan Bank OF New York are
| being adjusted. II Is hoped that thugs
will be arranged to-day and the bank will
resume business. The cashier said to-day
| that there was only one little hitch TO the
bank resuming, but he would not state
what the hitch was II was believed, how
ever, that the hitch was an embarrassing
/ lack Of funds. In the Kings county regis
/ ter's Office there was filed deed OF con-
! veyancc by George j. Seney and wife OF
their mansion in Brooklyn TO the Metro
politan Bank OF New York in considera-
! ton OF $4,000. They also fled deed Of
conveyance OF another house and valuable
grounds, in Brooklyn. 10 Hcny l.. Jacques
in consideration Of $4,000.
READY TO PAY DOLLAR FOR DOLLAR.
NEWARK. y. j., May 1.-THE run on
! the Howard Savings and Dime Savings
Banks here, which began yesterday in
consequence Of the Newark Savings Bank
failure, continues to-day. The bank man
ayers are ceol and convinced that the run
is temporary, and say that they are ready
to pay dollar for dollar as fast as il is
wanted. Receiver Wilkinson. of the New
ark Savings Bank, went 10 New York to-
dav TO collect loans, which are payable
when the statement OF the banks affairs
10 the chancellor are to be made. Presi-
dent Dodd was at the institution all day
yesterday, and takes The situation cOolly.
| He Acknowledges this morning that $780,
600 OF the banks money was in cash in the
hands OF Fisk & Hatch, who paid interest
on the sum pending. he says, its perma-
nent investment. The receiver has made
no sales Of any securities, and will await
orders OF the chancellor after submitting
his statement.
CONDITION OF THE NEWARK BANK.
NEWARK, y. j.. May 17.-Receiyer Will
kDson, OF the Newark Savings lnstitu-
| ton, this afternoon submitted q statement
to the chancellor showing that the amount
due depositOrS is SG,166,53 The total
assets, according to the receivers estimate,
exclusive of sS4j,0O0 due from Fisk &
Hatch. are 1895, 337-a deficiency OF
S1,1Gl.197. The bank has securities and
cash on hand to warrant the payment
Of 80 per cent. to depOsitors Immediately.
In case that Fisk & Hatch are able to re-
sumo the bank would lose nothing, and
the receiver says he will make the most
liberal arrangements possible TO enable the
firm TO continue business.
THE LONDON ECONOMIST " on THE SITUA-
TON.
LoNDoN, May 1.-THE Economist thinks
that il the panic in New York is confined to
the Stock Exchange, it is not likely to con-
tinue long or leave seeds for future trouble.
1t will tend rather to clear the air and
facilitate gradual recovery from the depres-
sion so long prevalent. The present trou-
bles are traceable to the mania for construct
ing new railways, which first manifested
itself in 1879. American railways securities
have fallen into discredit here, owing to
well-founded distlIst in their management.
Thus a slow panic has been in progress for
nearly two years. The fact that confidence
in the stability OF a number OF banks has
been greatly shaken constitutes danger
Gus feature Of the situation. Ii the panic
should develop into banking crisis, the
whole business OF the country would srs-
| tain a paralyzing shock. Probably this
danger will be avoided. Meanwhile no
one knows what day may bring folth.