Morning journal and courier., 1885-01-26
HALF MILLION DOLLARS
Ready For DepOsitors At The old
 Savings FBank-Scenes And Incidents


 Savings EBank-Scenes And Incidents
 Of The Kun.
 The unfounded and baseless scare contin- ued on Saturday, confined chiefly to people
 having small deposits. The bank made
 every effort to accommodate all who ap-
 peared and kept their doors open till D. m., two hours later than usual At that hour
 the doors were closed, but none were exclud-
 ed who were inside the doors, all inside being
 permitted to remain until they were paid. A police officer stood just inside the door to
 prevent crowding and jostling. During the
 latter part of the forenoon and in the after
 noon the depositors waiting their turn to be admitted to the bank were ranged in single
 file, the line reaching from the bank to near
 the corner of Chapel street, distance of about two hundred feet. All day long 8 crowd of people lined the walk on the oppo site side of Orange street curious spectators of the proceedings at the bank and observing the line of depositors A large part of those 1 in line were women and they stood in line for hours on the wet and sloppy sidewalk
 intensely in earnest to get their hard earned
 savings. Naturally enough 8 run on
 a bank claimed 8 share of public
 attention and the question asked in jest,
 ''Have you drawn your money outs" was the
 standing password of the day about town
 The main bulk of the depositors of the bank, feeling perfectly satisfied that the run was causeless and having perfect confidence in the bank, were in no anxiety about their de- posits. Sergeant Bishop had charge of the detail of five policemen stationed to pre- serve order. Some of the women in the line
 were hysterical.
 The bank officials are very indignant over
 the reflections made against Henry c. Pardee
 in a sensational dispatch printed in the New
 York Tribune. They characterize the report
 as wholly unfounded, and, as seen in the
 banks official statement in this issue, they sustain Mir. Pardee and denounce the report as entirely untrue. After discussion with Trustees T. R. Trowbridge, jr., Stephen G.
 Butler, and Gen. s. E. Merwin, jr, the fol- lowing dispatch was sent by Treasurer Futile to the offending paper:
 Treasurer Pardee has been gambling in Wall street r B 5a6g on M r eEe & @ 1h ar rep9 % s an 9u ns bank
 
 patch sent and last evening the bank officers stated that they were about to wire dis patch to the Tribune demanding 8 correc- tion.
 Many offers of substantial assistance came from Individuals and banks in and out of New Haven. \ scene was occasioned at noon when ex-Governor BigeloW, president of the Merchants bank, accompanied by clerk, wedged his way through the crowd with several thousand dollars worth of specie in order to make change. At the sound of jingling coin the crowd laughed and cheered. Several other prominent citi- zens sought to reassure the excited de- positors. In very few instances were they successful. Several of the depositors left the line and returned home on positive as- surances that the bank was all right from prominent people whom they knew to be disinterested friends in whom they had every confidence.
 President KiIston of the bank received notice from New York institutions Satur- day to call upon them for S200, 900 if needed and it would be sent at once. MT. Kidston was also notified by Yale college that the college would let them have S50, ,OOO at a mo- ments notice.
 The bank has half million dollars all ready this morning for depositors. The money came up from New York since Satur- day afternoon by Adams express
 Inside the bank a busy scene was presented and the yellow-covered bank books Tipped merEily and rapidly over the oaken bulwarks between wealth and worriment in exchange for crisp bank notes, gieaming gold and shin7 ing silver. To casual observer it looked as though the bank had a foundry and print ing office somewhere from which the clerks were ferrying out the wealth. The bank of fcers were cool calm and collected as possible under the circumstances. They had the assurance. of a sound bank be- hind them of s3,O0O, 900 in quick assets that could be raised on their securities, of the offers of many Of the most important city banks to loan them ell the money they want and of the past conservative business career of their own managers. No questions were The nimble-fingered clerks Tipped the books out of their envelopes, ran their index digits down the ''balance due'' column, banged over ledgers and compared notes, scratched little with gold pens to passed out the cash. Amounts of all sizes were called for. One man in foundry drew out S1 200 One woman drew out $3.10. In all a little over S109,0 ,000 was paid out Saturday to 313 depositors. This was dispatci:ing  to depositor. This pretty quick work each pass book had to be looked at and compared with the banks account, and the necessary entry the books of the bank ] had to be made, to say nothing of the time | needed in which to count out and l hand over the money to the applicant. Many of the sums paid were very small. The pay ments, however, averaged $229.S min l ute.
 Leading financial men of the city say: | ''The public need have no worry about the | stability of the bank. Its statement of assets l and liabilities (published in another column) | onght to convince anyone posted in such | matters that the bank is as good as wheat: Why, the bank has S1 ,O00, 900 in the best | kind of town and city bonds, almost another million in the best kind of town and railroad bonds and $150,000 ill best local bank stocks and over S2,500,000 in staunch real estate mortgages.
 MT. Butler, of the Tradesmen's bank, 'aid: ''I could take the banks securities to l New York Monday morning and get $3,000,- 100 on them and have the money back here tt the savings bank by p. m."
 Other gentlemen said: ''Why, that lot of l securities is one of the finest lines of securi- | ies that can be got. They are worth and viil command far more than the banks book alue estimate. They are securities hard to -gilt-edged-that would be snapped up ! hey could be sold in short metre in New fork, tell you"
 Another prominent gentleman said every hing is perfectly it ought to be; better ank with better securities it would be hard Q find. Why, the securities of the bank are Torth $500, ,000 more than the bank itself puts hem at in it's statement. People might lst as well doubt the Bank of England. The l mortgages equally staunch. They cover l roperty which would bring vast amount of { than the face of the mortgages. | Coincident of the day was the arrival of 4O, GOO in bills brought by MT. Parish of the [echanics' bank. As the crowd f1ocked up 1 , le doors of the savings bank MT. Parish ' ossed the bundle into the window where it as caught by Gen. Merwin. The Mechanics ank sent in all $65,000 of money on deposit the credit of the Savings bank. One man, Mir Steele, contractor at Sar- ent's, was on hand to buy the books of the : epositers for one per cent. off for cash but | bloody would take trifing discount off for V ssh if they had to wait all day. A slight ! ,ntinuance of the rush may occur to-day, t Ut people might just. as well let it remain; i is safer there than in their pockets. One Italian insisted on being paid off in | I lver. He received several pounds of silver | e Id slowed it away in his pantaloons pocket 1 t