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THE SA VINGS BANKS. New York, Oct. 24.-The run on Union Dime savings bank continue; $27,000 was paid out yeaterday, and it in reported that unless the run is soon checked, the national banks will take measures to protect the savings institutions.
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track, for the purpose of preventing the Pitts. burg and Lake Erie Railroad from crossing their line. The Lake Erie Road relaid their crossing, which was in turn torn up, again rolaid and last evening torn up for the third time by the Lawrence and New Castle Company. Further trouble is feared. There were eight new cases of yellow fever at Fernandina, Fla., Sunday, and eight Monday, with three deaths. There were five new cases yesterday. The fever hasseized upon the colored people and will sweep through the entire colored population there. Capt. Danburg, pilot, was among the dead Monday. The weather is quite 3001, but DO frost has been reported. The Manager of the Hannibal and St.Joseph Railroad denounces the appointment of a receiver for that road when it is not in default for a dollar. None of its obligations have been protested, and the company is in possession of a fund of three millions for the payment of its indebtedness, the improvement of the road bed and the laying of steel rails. The suit brought by Hallett Kilbourn against Speaker Randall and other officials of the House of Representatives, claiming one hundred and fifty thousand dollars damages for false imprisonment, has been appealed to the United States Supreme Court. At the Cabinet meeting yesterday the New York Custom House appointments wore agreed upon as follows: Theodore Roosevelt, Collector; Mr. Merritt, Surveyor; and Mr. Prince, Naval Officer. John W. Warren, a rich and "pious" man of Newton Highlands, Mass., has been arrested for setting fire to his house, with the intention of burning up his wife, who was confined to her bod by sickness. Woods' Museum and Theatre in Chicago Was All damaged by fire carly yesterday morning. the animals died from suffocation. The theatre was the first one built after the great fire, and has had a precarious existence. The elergy and lay delegates of West Virginia will assemble in Charlestown on the 5th of next December to organize the now diocese of that State. A European syndicate has proposed to loan Louisiana $12,950,000 with which to pay off her indebtedness, at par with interest to the date of retirement. An injunction issued against the New Orleans school board forbidding the establishment of separate schools for white and colored children has been dissolved. The Manchester Savings Bank of Pittsburg suspended yesterday. and the Union Dime Savings Bank, of New York, availed itself of the privilege of sixty days' notice. Hawkins, the colored man who outraged a little school girl in Baltimore county last sum. mer, will be hung on the 23d proximo. A colored woman named Mary Glasgow, a member of the Chaldean Society of Washington, has been arrested for murdering her baby. COLONEL ROBERT A. RICHARDSON, of Smyth county, has been nominated by a convention of bolters and soreheads which convened in Rockingham for Lieutenant Gov. ernor. By this untimely and uncalled-for act Colonel Richardson and his supporting bolters repudiate (as they scem specially organized to do the State debt) the conservative party and General Walker, its ohosen, honored, and worthy candidate, faitly nominated in a convention in which they were fully represented. Colonel Richardson. an appointed cinvasser by the great party he claims to be one of, now appears in the role of an opposition candidate, instead of urging the support of the regular nominees. Shame on such a man, shame on his party, and shame on the Southwest for the unenviable fame of having two independent candidates in the field in opposition to the regular nominees of 8 party to which they owe allegiance for their freedom from corruption, misrule, tyranny, and oppression. We had given Celonel Richardson credit for more patriotism and good judgment than to appear in such a role; can scarcely believe that he would accept office at the hands of any other than the democratic party in regular ways. In evitable defeat and chacrio emeito the indo
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RUN ON THE UNION DIME CONTINUED. The run on the Union Dime Savings Bank continued yesterday. At 10 o'clock, when the doors were opened, two lines were formed from the Daying teller's window. The line of women extended to the lower corner of the building, on the Broadway side; that of the men reached around the corner of Sixth-ave., and nearly down to Thirty-first-st. A detail of police assisted the bank officials in keeping order. Servant girls were numerous in the line on Broadway, and young ladies mostly composed the other line. Sev. eral pickpockets were noticed, but they were closely watched by the detectives. Some timid depositors were induced to sell their bank books at a discount. Places in the line sold for from $5 to $10, and one young lad obtained $8 for his place, and then said he had no book at all. The about president, Mr. Haines, mounted the steps of the several the bank vited them bank some of persons and the poor noon, gave solvency to women, and drop them addressed out of with seats. the of children the institution. In the line. conversation depositors, in their Mr. This Haines arms, assuring caused with into in- a TRIBUNE reporter, Mr. Haines said that the number of notices of withdrawal in sixty days, had as yet been yesterday He much also less than said which he expected, that were offers and given some of the were assistance day withdrawn before. had been made by the officers of one of the most influential institutions in the city, and also from a large bank, with which the Union Dime had had no dealings. These offers had been respectfully declined, as no outside help was needed. From a remark overheard by the reporter, it is believed that one of these offers came from the Continental Insurance Company, the vice-president of which was seen in the bank. Mr. Jones, the secretary, said that several of the largest depositors had expressed confidence in the soundness of the bank-one of these urged people in the line to go home, telling them that the bank was as sound as a dollar. Several of the trustees were present at the bank throughout the day, and they united with Messrs. Haines and Jones in declaring that nothing could break the bank. Mr. Best, the examiner, said last evening that the bank was ready for any emergency. This run has caused considerable talk among the banking men of the city, and it is now rumored that steps are soon to be taken by the National banks of the city by which their assistance can be available in cases of extended runs on savings banks.
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UNION DIME. THE RUN ON THE INSTITUTION CONTINUED YESTERDAY--NORE ASSURANCES OF SOLVENCY FROM MR. BEST AND THE OFFICERS-MONEY LENDERS AT WORK. Notwithstanding the reassurances of the papers yes. terday morning the "run" on the Union Dime Sav. ings Bank continued all day long, and, though the hours of payment were prolonged, hundreds were turned away without getting their money. Some complaint was made by depositors that the clerks did not pay sufficiently fast that they delayed unnecessarily and sought to pay as little money as possible. This was not the fact, however, for the clerks made all possible haste under the c.rcumstances. Between three and four hundred accounts were closed yesterday and as many more payments made. Many who went to the tellers did not avail themselves of the one hundred dollar rule, and only drew out such sums as they actunliy required. The people having confidence in the bank were by no means few, and the officers received assurances from many depositors that they would not touch their funds until the excitement bad subsided. While one of these gentlemen of great faith was talking to a small crowd of eager listeners yesterday afternoon. in front of the bank, an excite. ment was occasioned close by by an old lady who had just drawn $80. She was seen to come from the bank and force her way through the crowd to the curbstone, where she thrust ner fingers into her bosom to get her money and count 11. Not finding it there she yelled aloud and attracted it crowd, and the unfortunate woman was almost stripped to the WIISE searching her clothes for the money. She did not find 16. for it bad been stolen from her while she was forcing her way through the crowd. This old lady was not the only one who had ber money stolen, as several complaints were made. The policement detailed to the bank are always at the door keeping back the crowd, which 18 toade up of all sorts of peopio. Some one should be detailed to clear the streets in front of the bank, for all day long scores of people who had no business in the vicinity stood blocking the way. Among them were noticed a large delegation from the light Angered gentry, who fitted hither and thither without hinerance. INTERVIEW WITH MR. BEST. In an interview with Mr. Best yesterday afternoon that gentleman said that to-day he would open two or three more paying windows, so that more people could be accommodated during the hours of business. He says the examination of the bank's affairs IS still progressing, and be has yet found nothing that could cause him to alter the opinion expressed on Tuesday regarding the Folvency of the concern. The causes of the decline in business lately have been the reduction of the rate of interest and the stack times. Hundreds of depositora who in good times were gradually increasing their stores had been forced to draw on their reserved cap. ital during the recent stagnation. Then the recent revival of trade caused many to uraw out their money for investment, and returns were still forthcoming. Mr. Best says that the papers overstated the amount ot money drawn on Tuesday. The actual sum was $28,000, and not $30,000 as stated. Mr. Best received the following note yesterday "Being a big depositor in the Dine Savings Bank I think it not judicious to pay in any more money until all is settled. Please answer at once.' The request was complied with as follows:--*Keep cool. Believe your money safe. Were I a depositor of this bank I would not draw a dollar." MR. JONES ON THE SITUATION. Mr. Jones, the secretary of the bank, said, yesterday afternoon, that things were in about the same condition as on the previous day. Mr. Best was progressing with the examination, and the bank intended to-day to afford depositors increased opportunities for drawing money. Mr. Jones thinks that the bank needs the strong and reassuring co-operation of the daily newspapers. The depositors are many of them panic stricken, he says, and require to be pacified. From the sentiments expressed yeaterday by the dea positors around the bank 16 would seem as though mistake had been made in not allowing Mr. Haines to have his way about paying all euins demanded. The enlorgement of the sixty-day rule by Mr. Best 18 regarded by many depositors as proof conclusive that there is "something wrong." From what was said by a majority of those spoken to yesterday 16 is fair to inter that it the sixty-day rule had not been invoked the run would not have continued beyond one day. MONEY LENDERS AT WORK. Several money lenders were on hand in the crowd vesterday and did all in their power to "bear" the ability of the bank to pay its habilities. The process was. of course, prelipinary 10 purchasing the books of guilible depositore, who alter being talked to jumped at any chance 10 save at least a part ot their money. The police might attend to these gentlemen at the same time they are looking after the light fingered gentry spoken of above.
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THE RUN on the Union Dime Savings Bank showed no signs of abatement, and will probably be renewed this morning, notwithstanding the confident assurances of its officers.
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Union Savings Bank. NEW YORK, October 25 -The run on the Union Dime Savings Bank continues. The improved arrangement 008. bles 125 depositors to be paid each hour. The Bank Examiner says the bank is ehtirely solvent if the heavy depositors do not withdraw their funds.
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ment exists at Marion over the failure. of Twogood & Elliott, bankers, with liabilities stated at $150,000. A large meeting of creditors was held to-day, at which It was decided to appoint Samuel N. Goodbugh and Robert M. Jackson, both men of high standing, Receivers. No approximate estimate 16 yet made of the assets. Special Dispatch in The Chicago Trabane. DUROQUE, It, Oct 25.-Yesterday Twogood & Elliott. one of the oldest banking houses of Marion, la., closed its doors, caused by n run on the bank. An assignment was made to one of their licaviest depositors. 0. F. Richmond. The Habilities will reach $150,000; assets unknown. NEW YORK, Oct. 25.-The run on the Union Dine Savings Bank continues. Improved are trangements enable 125 depositors to be paid each hour. The Bank Examiner says the institution is entirely solvent. Theheavy depositors do not withdraw their funds. special Dispotch in The Chicago Tribune. NEW York, OCL 25.-The Times says John Thomas. a prominent mining operator at No. 37 Broad street, has gone into voluntary bankruptCV before Register Dwight. He owes $58,000. The value of his assets is not known. They Include the Champion Mine," in Elko County, Nev., 16.432 shares of mining stock, and a lifeInsurance policy for $5,000.
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THE RUN on the Union Dime Savings Bank has come to an end. The bank officers decline to make any statement in regard to its condition until the official report has been made.
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THE SAVINGS BANK RUN. The community is to be congratulated that the run on the Union Dime Savings Institution is ended. At no time during the run has the bank been in any very great peril. Its solvency has been abundantly certified by the Bank Examiner. Its ability to withstand a considerable run has been somewhat demonstrated. The enforcement of the rule of sixty days' notice for withdrawal of deposits has appeared to work well in this instance, and the anxiety of depositors was allayed while their claims were postponed. There is some doubt among the managers of savings banks as to whether the application of that rule ever helps matters. In the case of the Long Island Savings Bank it certainly did not, and there are other instances where it has increased rather than dimimished distrust. The officers of the Union Dime were at first quite unwilling to apply the rule; its use was urged upon them by the Bank Examiner. The point which has been most clearly indicated by the widely diverse experiences of the Long Island and the Union Dime banks, is that the favor or opposition of the Department can turn the scale of fate for a savings bank. Perhaps it is best that such should be the case; ut it puts a grave responsibility upon the State Department. It may be said that since there is now no question about the solvency of the Union Dime Savings Bank, it is idle to speculate on what might have been the consequences if the concern had encountered the opposition of the Department. But whether solvent or not, no savings bank can maintain itself in the face of popular distrust. Its depositors have only to withdraw their money, and there is an end of the bank. The funds cannot be so invested as to pay the customary interest to depositors, and yet be subject to instantaneous withdrawal. A large surplus, and the possession of a considerable sum in cash or easily salable securities, will float a bank over a short run; but if the run is long enough, the doors must close, even though the concern is fully and absolutely solvent. It follows that a savings bank is always liable to danger from distrust; it is never safe when doing anything by which distrust may be excited. There is not, for instance, any question as to whether the Union Dime and other large banks had surplus enough-were rich enough -to put up large and costly buildings. They could do that, and the value of the real estate might decline, and still the banks be solvent. But the question should always be in regard to that form of display, May it not cause distrust 1 If it may, then it is never a perfectly safe thing for a savings bank to do, no matter how large may be the figures of surplus on the ledger. Managers who cannot see in the light of the past four years that a costly building is more likely to hurt a savings bank than help it, should turn their talents to some other occupation than that of taking care of poor people's money.
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THE run on the Union Dime Savings bank, New York, continue. Improved arrangements enable 125 depsitors to be paid each hour. The bank exaniner says the institution is entirely solven. Heavy depositors do not withdraw their funds. THE committee investigaing the affairs of the West Philadelphia Paisenger Railway, find an issue of 7,200 shares more than is authorized by the company's charter. A RUN is being made on the Union Dime Savings Bank, New York. If the run is not soon checked it is reported that the national banks will unite in measures for the protection of the savings institution. TWENTY leading manufacturers of oil bar rels met in Pittsburg, Pa., on the 23d inst., and unanimously resolved to hold out for $1.40 per barrel. The Standard company is endeavoring to break the market by bringing barrels from outside points, but the manufacturers agreed to close the shops and when the supply is exhausted the Standard will agree to the market price. The present complication is caused by journeymen striking for an advance of 40 per cent. which rendered it necessary to increase the price. THE employes of seven collieries that re cently resumed work at Pittston, at an advance of 10 per cent. in wages, have already been notified of a reduction in wages of this amount. The miners are at work under protest, and exhibit strong feelings of displeasure. Ex-Congressman JOHN WINTHROP CHAULER died at New York on the 20th inst. CLINTONVILLE, New York, is devastated with the small pox, twenty persons having died with it within a week. Travelers are prohibited from entering the place.
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NEW TRUSTEES FOR THE UNION DIME. The return of confidence in the solvency of the Union Dime Savings Bank was shown yesterday by the number of accounts reopened with the institution. Many sixty-day notices, given during the run, were recalled. Steps have been taken toward the reorganization of the Board of Trustees, in compliance with the recommendation of Bank Superintendent Lamb. That the Board has been too large is generally conceded. It is stated that hereafter the Board will consist of twentyone members, instead of thirty-four. The two members who, it has been asserted, were the causes of the bank's troubles, will probably be left out of the new Board. Twelve of those now on the Board will be retained. The nine new ones to be appointed will be selected from some of the best known and most trust worthy business men of the city, with some of whom the matter is now being discussed.
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The Union Dime Savings Bank makes a prompt recovery of lost ground, under the stimulus of the Bank Superintendent's certificate of its complete solvency. Many of the sixty-day notices given during the run on the bank were withdrawn yesterday, and the reorganization of the Board of Trustees is proceeding successfully.
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FOREIGN.- - The Servians have occupied Fort Mramor, near Nisch. There have been dissensions in the British Cabinet: Lord Beaconsfield favors a hostile policy toward Russia, but is reIt is understood strained by his colleagues. that Germany has replied discourteously to a British invitation to act in concert on the Eastern question. DOMESTIC.-The first of the Government ships with American exhibits will sail for Paris February 1. Argument was begun before Attorney-General Devens. yesterday, in regard to the differences between the Kansas Pacific and Union Pacific RailThe Administration does not apprehend roads. war with Mexico: the mob at Elizario released Anthe Texan rangers after disarming them. nie E. P. Sever, of Boston, made public bequests The Rev. Charles F. amounting to $195,000. Hanmer, of the New-York Conference of the Methodist Episcopal Church, has been suspended. The Cosmopolitan Savings and Exchange Bank, of San Francisco, has suspended. CITY AND SUBURBAN.-Tammany Hall fears that the Mayor'saction against the Police Commissioners was intended to aid a new anti-Tammany moveMore facts about worthless assets of the ment. National Trust Company are made public. The District-Attorney and Recorder Hackett denied A seDr. Crosby's charges yesterday. vere oath was required of applicants for hotel The Board of Education defended licenses. itself against the charges of the CommissionCornelius J. Vanderbilt ers of Accounts. Twenty-one testified about his own life. trustees of the Union Dime Savings Bank Postmaster-General Key inspected resigned. The body of James the New-York Post Office. McNichol was found, bearing evidence of foul play. Another important railroad conference is to be held in this city to-day. Gold 10278, 103, 1027g. Gold value of the legal-tender dollar at the close. 97210 cents. Stocks dull and lower, closing firm at a partial recovery. THE WEATHFR.-TRIBUNE local observations indicate a continuance of warm, cloudy, and at times rainy weather. Thermometer yesterday, 409, 48° 45o.
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BANKING TROUBLES. The Union Dime Board of Trustees Reorganized. NATIONAL TRUST AFFAIRS. A Statement of Their Condition To Be Speedily Furnished. The following statement relative to the reorganizadon of the Union Dime Savings Institution was furaished yesterday afternoon from the office of Bank Superintendent H. L. LambThe Bank Superintendent informed the trustees of the Union Dime Savings Institution on the 21st of No. vember that he deemed the reorganization of the Board necessary to restore contidence in the depositors and in the mind of the public; that Le leared the report of the solvency of the institution would not alone be sufficient to put the bank in its old position in respect to credit. This suggestion was not at once favorably received by the Board, and a committee was appointed to conter with the Superintendent upon the subject. After consultation Mr. Lamb adhered to his views and proposed that commission should be formed of several trustees of the savings bank and the examiner and Feveral officers of savings banks in the city. His proposal was accepted, and the SuperIntendent named the gentlemen to compose such commission. After discussion this conference agreed that the interests of the institution would be promoted by reorganization. AD adjourned meeting of the Board of Trustees was then helu and the following resolution was adopted RESOLUTION OFFERED BY MR. DUTCHER AND SECONDED BY MR. FLOYD JONES. Resolved. That each member of the present Board tender his resignation and each member present cast his ballot. on which shall be written the names of twelve members who. in his judgment, should remain to take action upon the and fill vacancies, said ballots to be placed unopened in the hands of the Superintendent, who is requested to designate the members to remain and act upon the resignations. The trustees then present signed the following copy of the resignation tendered to the Board:To THE BOARD OF TRUSTEES OF THE UNION DIME SAVINGS The INSTITUTION: undersigned. desiring the success and future pros perity or this institution, hereby each and for himself tenders his resignation AS trustee, and pledges himself to do all in his power to aid the institution whether he remains or N.J. retires: Haines, William S. Whitlock, Maltby G. Lane, G. S. Chapin, Thomas Floyd Jones, John Creighton, Silas 15. Dutcher, Aaron Close, Wiltiam F. Hemmingway, Joseph H. Orvis. John Mack, B. Darling. J. H. V. Arnold, Willam Wake. Richard M. Nichois, F.G. Green. James Bevgridge. Edward as. Poor. John H. Johnston, W. Livingston. Charles A. Colby. Joseph Smith, E. Galloran. Joseph Kenworthy, Frederick Jacobson, J. Maedonough, E. M. Van Tassell. C. E. Brush, William G. Ross, W. S. Miller, F. Bonman. The Bank Superintendent, acting under the direction and request contained in the above resolution, named welve trustees to remain and complete the reorganization of the Board. Delay in action was compeliod by the provisions of law. which declare that vacancies shall be filled ata regular meeting of the Board 01 Trustees. At that meeting, on Wednesday, the resignations of many trustees were accepted and a lew gentlemen were chosen to fill the vacancies. An adjourned meeting will be held next week, when other gentlemen, widely and lavorably known for business capacity and faithiulness to all duties which they assume, will be chosen as trustees. There IS harmony of spirit among the trustees and a decided purpose to reduce expenses to the lowest figure practicable and put all real estate assets of the institution in shape to produce income as early as possible. The following gentlemen were chosen new trustees:-H. K. Thurber, of H. K. & F. B. Thurber & Co. Joseph F. Knapp, of Major & Knapp; John W. Britton, of Brewster & Co. Thomas L. James, Postmaster; R. N. Hazard, of Caswell, Hazard & Co.; William A. Cole, President of the Produce Exchange. The following trustees are retained:-Richard M. Nichols, retired merchant; Edward E. Poor, of Denny, Poor & Co.; Aifred B. Darling, of Darling, Griswold & Co., Fifth Avenue Hotel; Aaron Close, merchant, Fulton and Greenwich street; John Creighton, merchant, No. 173 Sixth avenue; Silas B. Dutcher, Ap praiser's office; William S. Fogg, merchant, No. 171 Chatham street; William T. Hemmenway, retired merchunt; James Beveridge, retired merchant; FrederICK Jacobson, of Swift, Sackett & Co., No. 59 Worth street; Chnton E. Brush, merchant, No. 37 Walker street; J. H. Johnston, jeweller, No. 150 Bowery; William G. Ross, merchant. No. 64 Walker street. The income for the six months ending December 31, less expenses, IS $205,000; interest due depositors, about $162,000; surplus Income from July to January, $43,000. Several friends of the bank say that there 18 reason to be thankful that it stands on the very soundest basis, else 11 would ere now nave been in the hands of the "bank wreckers," who have already possessed themselves of several corporations which might have been saved to the public. These parties point to the fact that government officials, and guasi officials, are nominated to receiverships created by their own exertions, without giving the sharebolders or trustees a chance of consulting their comIS mon interests as to who should be receiver. It shought in many influential quarters that the attention of Governor Robinson should be promptly called to this condition of affairs. THE CLINTON SAVINGS BANK. Mr. Edward L. Parris, receiver of the Clinton SavIngs Bank, makes the following statement:-He took possession on the 29th of last August and received assets to the nominal amount of $64,830 11. or this amount but $241 89 was in cash, the rest being in real estate; 117 shares ratiroad stock, which was last sold for thirty cents on the dollar; fifty shares in the National Trust Company and personal notes of the trustees. Mr. Parris has realized out of the assets the sum of $20,967 59, and IS now ready to declare a dividend of twenty five per cent. The claims of the 1,252 de. positors who have credits against the defunct bank amount to $68,972 88. The receiver is apprehensive that the assets remaining with him will produce but listle money from which to declare an additional dividend. THE NATIONAL TRUST COMPANY. Mr. Best islaboring diligently in preparing a statement of the aflairs of the National Trust Company, and hopes to have it finished this week. Meantime be said that the officers of the company bad disposed of $586,500 in United States bonds, pending the exam. Ination which he was making, before entered as receiver. Mr. Best also acknowledged that a member of the Board of Trustees (up to four months ago) withdrew a deposit of $170,000 just before the run began. Mr. Best, however, would not give that gentleman's name. It 18 claimed that the unsound state of the company was shown last year by an examining committee of the trustees and that their report was kept back by the Executive Committee. This can hardly be true, for it appears that on December 4, 1876, Examiners George W. Reid and Henry L. Lamb gave the institution It the credit of having $39,062 24 surplus. appears that in contravention of the company's charter forbidding loans to the trustees the Walkill Valley Railroad bonds were taken as collateral security from Robert H. Berdell; the $22,000 Watertown prop. triy, " morigage for $50,000 on mill at Silver Lake, N. J., and $20,000 stock of the Davis Sewing Machine Company were all accepted from trustees, and have run on the books for more than three years. BANK NOTES. Mr. Richard M. Bent, receiver of the New Amsterdam Savings Bank, of this city, has, in the case of the people against that bank, received an order of Court to seil at auction the premises at the corner of the Bowery and Rivington street, together with the