New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-11-06
A RUSH TO THE SAYINGS BANKS
MONEY WITHDRAWN BEFORE ELECTION
BEING RETURNED NOW.

DEPOSITS PHENOMENAILY INCREAsED-MOsr OF
THE DEposrroas HoARDED GoLD-DIREc-
TORS AND OFFICERS ENTHUSIASTIC.
The savings institutions Of this city have been
among the first to feel the favorable reaction ioi-
lowing the victory of sound money last TUESDAY
Yesterday and the day before there was an unprec-
edented rush Of big and little depositors, VINO kept
teers. bookkeepers and clerks on the Jump anu
brought broad smiles OF satisfaction ana content
ment to the faces Of the officers OF all the Leading
savings banks in town.
Day after day and week after week all through
the campaign lust brought to a close. the books OF
these institutions have shown the balance always
in favor Of Withdrawals over deposits the amount
sometimes running up to the tens OF thousthus
daily Persons who were afraid of Bryan's eiectoh'
persons who hoped to make a snug little sum "heh
gold went to a premium; persons who thought the
country was going to the dogs. have all been draw
ing upon the banks the full extent OF their de-
posits When It became certain that the repre-
sentatives OF sound money had been elected the as
pect of affairs changed entirely. and there was
rush to redeposit the funds that had been pre''-
ously withdrawn. .
At the East River Savings Institution, NO. q
Cbambsrs-st one of the directors told a Tribune
reporter Yesterday that the first favorable change
in the long unsatisfactory period through WHO"
the bank had been going was noticed the mor'i'"s
after election. Yesterday he said. more 'ha'
5000 In gold had been taken ILL., anu '"S W." ~
first gold to speak Of that the bank had received
from depositors in year. He added that drafts
had been greatly reduced In number since election
all OF which pointed TO a most welcome chahee III
public sentiment
Al the Ernigrant Industrial Savings Bank. one or
the officers said that Monday the Withdrawals
were s25 900 more the deposits but on Wednes,
day the current turned and the deposits exceeueu
the Withdrawals by the same amount. "a note
worthy feature OF the deposits made on Weohes-
day was that they were largely In god one ae-
positor who Withdrew several thousand dollars pc
fore election returned yesterday, bringing only s0la
He had evidently figured that By converting. ms
money into gold he would make n snug sum AS IL
turned out his loss I'm interest Will amount 10 sig
to say nothing of what IT cost him TO get the god
At the Citizens Savings Bank. No, % Bowcry,
the ca shier said that the bank had taken IN more
gold since the election thar he had seen In the last
three months The banks had been doing prac-
ticay nothing for the last three Inon,hS; amo ,h h.
better since he had been In the banking business.
John H. Townsend president OF the Bowery BANK
said that they had received at the Dank aDout
5000 In gold each day since election az the Sam
lime refusing large sums In gold which had peen
offered for deposit for the reason That the pahk
did not gold deposits. Mr.. Townsend sald
election The day before the election there had
been a heavy withdrawal made: .,.
An official Of OF the leading savings panks
OF the city said that In the last few months the
amount Withdrawn from all the saving institutions
in the city be converted into gold would propapy
amount 10 ND(rD,W. nj,
FOR Savings. said: THE Indications. as shown by
our deposits to-day and yesterday. are that those
among our dcpositors who boarded gold prior 70
the election now again depositlng the sums
they withdrew from circulation. Other savings
bank officers tell OF similar experience me iact
that gold is bulky and cannot be kept win sue, sucn
which will operate toward promoting Its quick de-
post In banks