New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-11-07
DEPOSITS POURING IN.
SAVINGS BANKS BUSINESS STILL AT
HIGH TIDE

DEP)slTORS RETURNING THE MONEY THEY HAD
WITHDRAWN WHEN THERE WAS CAUSE FOR
Axx1rry-How SAVINGS INSTITUTIONS
FARED DURING THE CAMPAIGN
tn. tidal wave Of favorable business which swept
in upon the savings hanks OF IN" city as Il result
Of the election continued In full force yesterday
Long lines or dcposi.srs stood all day yesterday be-
for the windows Of the receiving telers in all the
bants waItlnE to pui back the money they had
withdrawn only week or n month ago Inc
amounts deposited reported yesterday were dou-
be the amour withdrawn. condition OF business
which the banks have not known since the close OF
the Chicago Convention. large part OF the
,r,oun, offered for deposit yesterday was In gold,
ard while there were ono or two institutions which
were avorse accepting much OF the yellow
metal most OF them took II all in without any ques-
lions
A, the F,-nigrant Industrial Savings Bank David
r,.iv-th the controller. told a Tribune reporter
Yesterday afternoon that the volume or business
WINS even ahead OF that OF the previous two days
Gold continued to be deposited. amounting in the
aggregate 70 several thousand dollars. Mr Led
with cited several cases before the election where
teposi,ors had Withdrawn their savings and had
paid a premium TO have them converted into gold
This gold was nov being put back In the bank by
the depositors who lost by the transaction not only
the interest which their money would have earned
IA remained IN inc tanh. bul Also tn'
paid in premiums He said many bitter complaint
had beer poured into his ear by persons who had
,bus hastily taken action regarding their accounts.
A, m. East River Savings Bank and the Bowery
Savings Bank statements were made by officials
that business yesterday was similar In character
10 that OF the previous two days. gold averaging
from 5000 TO $500 daily. At the Bowery Bank II
was said that many Of those who had withdrawn
their savings belong 70 the class OF Russian Jews
haze ara a u
10 tax, fright the slightest provoca'ion. and
withdraw their accounts. for which reason they
looked upon by the banks as unwelcome customers
In the present instance II was noticeable that In
returning 10 reopen their accounts most all brought
gold showing how thoroughly they had prepared
10 protect their interests In case OF the election OF
Bryan -. o..
Broadway. the Union Dime savings BANK Broad
WAY and Thrty-second-st; The Bank for savings
No -, Fourth-av-.. the Harlem Savings Bank. at
Thrd-avc and Observation-Disclosures e nty -fourth-st.
~ reported a marked and wonderful change In bust
ness In an these Institutions tn. excess Of depos
It's over Withdrawals since u'sday mas e s .ttse
single day. many Of the deposits being In gold
Tho oficals OF savings institutions in genera! are
II 'ne opinion that this unprecedented condition or
AFFAIRS Will continue FOR several days II not Two
w.rks longer. when business VIII resume - nor
one Official OF Il leading bank made the statement
that as f"+nt OF thc ir,o-NV"r scars 'nrre nR h
.."n much ~ ;'OeNtH withnIaWn from IN"
iincren. savings banks IN N"wYork during the
recent political campaign MUCH OF inns ntu D'tH
sonablc TO suppose that IN due Of time it
would all find its way back to the banks.
y. rhaps the most interesting and accurate hgures
.hswing the effect ot the campaign on the business
nn the savings banks are those given out yester-
d.v by John T. Townsend. president Of the Bowery
Satiuss Bank Mr. Townsend has In his posses
sion the reports up 10 Saturday or list OF eleven
,nrks in This city each having deposit over $l0
oto1ea This list Is headed iy the ito"ery savings
Bank which has deposits amounting to S6gn,wo
With a Hat Of subscribers numbering lO.1V These
reports show that since July n io,ai Win Win
been about sss.cooooo against deposits In the same
,,itSJr,vals OF yl2 ,Cooc0 from July TO November
The Cgures OF these months compared with those
thai 1t least half 81 the excess was dur 10 e l'u
crce of the late political campaign The ioregolng
computation does not lncInde MonuLy Wn,Ih W..
the banner day of all 80 FAR as Wltnnra"aS W.
concerned ON that day alon. sso,'Vo was ota"h
ont OF the Bowery savings BANK =. rho ,arks on
The largest loss sustained by any o. inc BANKS on
,his list was 100000 Some OF the banks LOST a.
much - G per cent Of their deposits. while the low
ns, on the list was about per cent one Oh tne
ir,erestng features Of the matter Is thar the saw
ings banks have in reality snJoysd go aa' 100 i
profit by the excess In withara~a as 81 hell nieres
'rac eavings banks might have been onhged 10 re,
dIce the rate OF interest In view OF ne h,
amount thus saved by the banks In inter
ert o. s2 GO00 which was Withdrawn. VIII enaple
the m to continue the present rare oi i'e'cst p" o
uPbes facts as given show the strain under whica
the savings banks have been pht h Sentembsr
Ia Octoher were anxious months Tor me omciaIs
Of these institutions Lttei II MARIAN any NOT onl
-, - reason az the silence maintained py oank om-
cials hut also on account OF the evident nesre, on
s si r rsnvs n secret transaction Many ofncials
we're prepared for run IN case OF me ~ IL
Bryan and IT Is understo19e - demand the sixty
DAYS notice allowed by law me rr.s,s saoi'rg