The sun. [volume] (New York [N.Y.]) 1833-1916, 1891-11-05
DEpOSlTORS IN A BIG RUSH.
rH1 MAVERICK TROUBLES START 4
RUN ON A SAYINGS BANK.

by Applicants Tor the Return OF Their
Mopey-Boors Kept Ope. Untn and Pay
vents Made Pro.piy-Coi. Freseh Fails
10 Get Baii-M sgruder's Visits - Lacey
BOSTON. Nov. 4.-One Of tho consciousness Of
the Maverick Bank suspension was seen to.
day In spirited run on the Five-cents savings
hank on School street. The bank Is said to be
as solid as q rock, but somo Of the smaller
depositors, o large number OF whom are
Italians and wage earners, became frightened
10y tho disclosures rs TO the Maverick Bank.
and with the unreasonable obsttnacy notice.
able in such cases they besieged the banks
doors early this morning. On Monday there
was somewhat Of o rush for the withdrawal OF
deposits. and although yesterday was election
day SOO depositors found the time to 60 around
md get out their money.
This morning the sidewalks OF the street
wero crowded. Some were depositors who
stood In front Of the building. bank books 10
hand rejecting on the condition OF affairs and
irving to decide whether TO 60 with tho
eouoezing throng inside and secure their
money or to remain outside and save
the interest which they would lose
10y Withdrawing their money ut the
present time. Other loiterers were those who
had been drawn to the spot by curiosity. The
process Of withdrawing was long one. as was
natural. for the books had to be- presented and
signatures and accounts carefully examined.
so as to detect against possible frauds: but
Just us soon as everything was pronounced
correct by those in charge the full
sum Of money was handed out with
great alacrity. In fuct. the cash was paid out
So promptly that many OF the women regret
ted thoir action ia following the lead Of those
who were frightened by Mondays r,imors.
As soon as one person was paid and stepped
away another was pushed up. while additions
wers constantly made to the long line. All
duy the timid Hepositors crowded the bank.
When the usual time Tor clnsing came tne an;
remain open until q o'clock. At that hour
Their. were hundreds who had not been paid.
and they were told TO come for their money In
Fully Ms calm as the tellers were the official:
the SSSRk q the &C
sssss SnS ts sTs g Sss total
number Of persons with deposits in the hank
Is I3J.ooO-a numte which is 80 90 iargs, that
oz eng al. ut VITA
physical impossibiitty to nay them; by
the Inst report the and net boS Tps nas
sSIoOO while the stocks. bonds. ana
hs a have what m siands ON Ta the
than, si,Sp.WU according e tue state:
co :si H than It docs to-day XII the seeur.
ties are said to be good: and outsiders who are
ne ISn 70 on tSs sanE hss no the
the sound condition q tSe osnE fha. he offered
sS gsas on ns
tuition. il is the question among bank ers that
the money market Will 10 STEADY ana quiet iof
Leans 20. OF fs sgos ;sst With Sat. the
. nan nt nv ofciai certaeste oI the
amount 70 their credit and Of the fact that s the
sora, Il Us tGoSsht depositors are likely to
rsssvS ~ q Pen qels
secure bondsmen acceptable to me Sni tSa
wSe %cro %ns to Secome sarss Ills
S75.0CO bail. but they were relectcd. GSi.
French the ss 1dt ne
Sestgation y Bank Ess'niner Ever ;rh shows
rs ascortaincd: the overloans upon, the en-.
connected with them In speculation. These
arc misdcmeanors and not felony under the
United states sautf nnI the
Common SS ;ai p' not exceeding ten years; The
condition 81 these loans was NOT only called t9
Went toWa shingto and personally plaszed
tur CONDITION Oh INC l'ullb OSlot0 Ncp!htt
mont He appears to have been headGd OH
each time by Ne Potter's influence at WASH
Comptroller Lacey throw tho responsibilityo Of
the Philadelphia irreGulhItties unon the bank
examiner. hut he will not DO able to place the
responsibility OF the Maverick Bank losses
upon John Mngruder. The hanks loans to d.
ractors are generally within tho letter Of the
law. and arc in pieces not exceeding S40-
UWL or 10 per cent. Of the, banks cap
ital. and the notes: though signed by
tyuewrrers. ciorks, aud the customary dunn
miles are endorsed by the directors and their
friends. not on the back, but Ivy separate en-
dorser,ents filed in another part Of the bank
tons Of the letter Of the law are dIscoycred.it
NAV no questioned how far the bank directors
cav n. pursued for these overloans to them
Very earnest efforts have been nedo to Sc
cure for publication tho reports made by Bank
Examiner MngrIder to the COMPTROLLER 81 the
Currency since January last. They will not
be furnished for publication. or for any other
purpose, nor will the exact nature oftheir con.
tents be made known. 1t H. not probable that
these reports could DO OBTAINED except by an
order Of the President or OF Congress; II Is
eytn doubtful whether courts would order
their production. They are regarded MS con-
idental documents. for the Information ol tho
Comptroller only. While they nre in II sonse n
pnbiic document, they go On the secret He's.
md only ono or two confidential persons have
access to them.