Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1890-12-18
SENSELESS FINANCIAL SCARE.
Absurd Reports Affecting the In
tegrity of the Savings Fund.

The senseless rumors in regard to the
stability of the Wilmington Savings Fund
Society, which have gained currency upon
the streets for the past week or so, have at
length eliminated in what appeared on
Saturday TO be demand of small de-
positors for their savings and the with
drawal of limited sums OF money from the
bank.
1t is undeniably true that a feverish.
panicky feeling in regard to pecuniary
matters has developed in the city and only
awaited some incident to prick the bubble
This was afforded yesterday week when a
thoughtless, irate deposition walked into
the bank and demanded the instant cash
ing Of his receipts amounting to between
5000 and $1,000. Unfortunately the bank
manager, with whom the customer had the
Interview somehow got the idea that what
the man wanted was q loan, the official not
at the momentunderstanding his status Ms
depositor who simply wanted his own
money. Whatever the upShot of the
transaction was the man left the bank
office full of indignation, and it is sup
posed his experience gained currency, its
publicity at length aifording the eleven
which leyened the whole lump" Of idle
imaginings.
: In the markets on Saturday the ridicu-
lous rumors reached their height when it
was stated that the bank had closed its
doors Continuous telephone messages
were received at the GAZETTE office in
curing as to the statements that are hying
about. An immediate denial was given in
regard to any basis for such preposterous
reports. But in view of the continued in
quiries andsincessant questions along the
street representative of the GAZETTE
called upon President William NJ Candy
mt the bank office saturday morning.
There We're not more than two or three
customers i'll the bank at the time. The
1a1n mn u al.
dlately. Mr.. Candy was as quiet and UNI
perturbed as if he were presiding at d meet
ing OF the park commission, or at any
other OF his multifarious public duties. In
conversation, however, he regretted that
any OF the bank depositors should so
readily lend their ears to what is only too
palpably the idlest of sensations He
readily acccded to his interviewers request
for statement of the banks assets The
treasurer's ledger was brought from the
safe, and Mr.. Ellison showed the following
figures:
SAVINGS FUND ASSETS.
Tlrst tnortgages .s2,414001
Wilmington city Loan...,.......-.... 5000
wilmington city Passenger Railway
p, W. Il b. rairoad per cent bonds, 959Go
bonds guaranteed by the Lehigh VAL
ley Railroad Company. ........... 3lOOO
New Castle county bonds. ........... 35.OOO
r, w. y b. railrond trust certificates. $1,000
Delaware Railroad Company Stock a0,OLO
ohltea railroad Company stock of
new Jersey Observation-Disclosures. n5,0O0
fapefs secured by conaterals......... 5000
All the above which form the main Sc
curities are identical with cash ana are
known as'tquick securities that is equiva-
lent to being negotiable at sight In adj
dltlon to the above the bank holds the fol-
lowing realizable property
Real estate, Eighth and Market streets,
RANK hniiding III 4 ~ H.,,. = <o,Vvu
Real estate by foreclosure ........... $1,000
The above are the main assets Of last
june The integrity of the securities, the
mortgages, &c, has not deprecated an iota
since then. The mortgages are an first
mortgages and the soundest and best in
Wilmington. Hardly per cent is laid
outside the city. The railroad and other
securities are the best obtainable this
moment and several of them would
realize an increment of several thousands
to the bank, We're they placed on themarket.
The assets of the Savings Fund Society
total 1892, $685. according to the last an
nual report.
Our nextreport, " Mr. Candy continued,
will show a large increase on the surplus
balance. The Savings Fund is in the
healthiest financial condition this moment
of any time in its existence
Several prominent gentlemen of the city
front OF the treasurers books. Mr.. Candy
freely invited them around to examine the
accounts. He has not the slightest hcsta-
tionin aftording all intelligent persons any
information they ask for.
THE LIABILITIES OF THE BANK.
Now as TO the liabilities, Mr.. Candy ?"
the reporter continued
The president Immediately pointed to
the following figures in the treasurers
books
Total liabilities s., 7a3, oo7.
This with the assets of S2g02. 66S 80
affords over a quarter Of million avail
able assets if the banks choose to give up
business t0-day
No better showing could be made BY any
bank in the country. II would not lie
surprised added Mr. Candy, sif there
was run on the bank following these
foolish rumurS,
When the reporter was at the office This
morning the tellers were making no
scFllple about paying the depasitors on de-
mand although they are entitled 70 require
notice Of 10, % or 30 days, tSe according
TO the amount Of the deposit
IN regard 70 the more recent status Of
the bank accounts the following statement
appears upon the managers ledger:
We have ,examined the cash, receipts. loans
recoveren n whole OF ~ part, amount paid,
all OF which have been verified by COMPARISON
with the deposits as examined by the bank
pass book. We have also examined the
amounts disbnrsed by the treasurer ana have
eonlpa ed them with tho cash balance III
SHOWN by his books for thu three months cad
ing ninth month, 3Utll, 1880, and hive found
them correct ElWuon GARRETT,
THOMAS llARLINTroS,
WILMER PALMER.
The present managers Of the Whining
ton Savings Fund comprise n If the most
substantial citizens Of Wilmington, who
give their services to the institution en-
tirely gratutously.