North River Savings Bank (New York, NY)

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New-York Daily Cribune

FOUNDED BY HORACE GREELEY. TUESDAY, NOVEMBER 30, 1875. THE NEWS THIS MORNING. FOREIGN.-Part of the Russian garrison at KhoTwelve hundred Egypkand was massa red. Voting tians were killed by the Abyssinians. by districts was finally adopted by the French M. de Lesseps approved National Assembly. of the purchase of the Suez Canal shares by England. DOMESTIC.-The United States Supreme Court gave a final decision in the great Union Pacific suit There will be no in favor of the Company. The reGovernment gold sales in December. port on frauds in the construction of the new State Capitol was unanthorized. E. S. Tobey has declined the Indian Commissionership; Mr. Smith is Fernando retained as clerk by Mr. Chandler. Wood withd raws from the Speakership contest. Dr. Manning delivered a glowing eulogy at the Wilson ceremonies in Boston. CITY AND SUBURBAN.-War ramors growing out of transfers of troops to the South were shown to be The prosecution ask for a struck unfounded. The Senate Investigating jury for Tweed. Committee examined the Dock Department. The examination of the Third Avenue Savings Bank officers on a charge of perjury was begun ; there was a slight run on the North River Savings Bank. Charges of irregularities in the management of the Gold, Missouri Pacific Railroad are made. 11458, 11412, 114% Gold value of the legal-tender dollar at the close, 87210 cents. THE WEATHER.-The Government report predicts In this city cold weather and possibly rain. yesterday the day was cold and gusty; thermometer, 45°, 44°, 16°.

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Run on Savings Banks

NEW YORK, November 30.--There is still n little excitement hmong the depositors in savings banks, and n slight run was made to-day on the Franklin Savings Bank, which has plenty of money and is paying everybody as fast as possible. The run commenced yesterday on the North River Savings Bank was continued today, but there is less anxiety among the depositors, who were promptly paid.

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FINANCIAL

NEW YORK, Nov. 80.-Theie is still & little excitement among depositors in the savings banks, and B slight run was made to-day on the Franklin Savings Bank," which has plenty of money, and is paying everybody as fast as possible. A run commenced yesterday on the North River Savings Bank continued to-day, but there is less anxiety among depositors, who were promptly paid.

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THE END OF THE FRIGHT

Yesterday in those of the Savings Banks that have Stood R Run. The run on the North River Savings Bank, at 478 Eighth avenue, and on the Franklin, at 658 Eighth avenue, ceased entirely yesterday, the depositors being apparently satisfied with the assurance in THE SUN that the banks named could pay dollar for dollar. At the Mechanics' and Traders' Savings Bank. 283 Bowery, a number of depositors assembled in the morning, seemingly anxious to get their money. There was also a line of persons who wished to deposit money. The clerks seemed more accustomed to their work than on Tuesday, and paid rapidly and promptly. Toward evening the demand for money diminished. and a number went away expressing confidence in the institution. The President, Mr. A. Γ. Conklin, said : ** The statement of last year does not apply to the bank now. The suspense account of $39,127 07 represented money in litigation, which h is been recovered, and is now an asset. The judgment secured by real estate. $5,178 48. is against a man who is very wealthy, and is entirely good. Our stocks and bonds were placed at the lowest m rket value, and we can get more for them now. We hold no town bonds. Our bonds are all State, city, and county. As for our real estate, we have been offered $147,619.27 for the site, but in our report we put it at only the cost. $126,646.77. We have a genuine surplus of $80,000, for, unlike some other banks. our de: 08118 have increased this year instead of decreasing." Mr. Conklin added that the bank had met with some losses during the Presidency of a former trustee, which had been fully repaired. The bank. he said, would not require any sixty days' notice. but would pay everybody that called. He had received offers from other banks to take up all his securities. He added, Although I don't like a run. I would rather have it now than pay interest in January." The trustees of the Mutual Benefit Savings Bank have been discussing whether they will put in enough money to start the bank again. They will probably resolve to do SO.

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THE BANK SCARE

END OF THE RUN ON THE SAVINGS BANKS-CONFIDENCE RESTORED. The feeling manifested yesterday throughout the city by depositors in the different savings banks was unmistakably one of greater confidence. In fact, it appears from the investigations made by the HERALD reporter that the excitement of the past few days has almost entirely subsided. That depositors generally are to be congratulated on this result no one can doubt for, as has already been pointed out in the HERALD, the banks raided on have available assets sufficient to meet all liabilities, and the people who have drawn their money from these institutions have simply lost so much interest for six months on their deposits. The really weak banks have been left untouched, much to the surprise of all who know what a really sound bank congists of in the matter of assets. These will, however, it is confidently asserted, be taken in hand by the Bank Department and put into the hands of receivers forthwith. Mr. Ellis is expected in New York to-day, and his action is anxiously looked for. THE NORTH RIVER SAVINGS BANK was to a certain extent raided on early in the morning, but as the day advanced the number of depositors grew small by degrees and beautifully less, until by two o'clock in the afternoon there were but some five or six depositors present seeking to withdraw their balances. The amounts deposited exceeded the withdrawals. THE FRANKLIN SAVINGS BANK was similarly affected, and the run of the past two days was practically at an end by noon yesterday. Many who had previously withdrawn their savings returned in the afternoon and reopened their accounts. THE MERCHANTS AND TRADERS' SAVINGS BANK, although visited in the early hours by quite a number of depositors, was at the closing of business hours almost deserted. The President, as well as the other officers, assert their ability to meet all demands, and say that the scare of the last two days was simply a suicidal policy on the part of the depositors, who by withdrawing their deposits at the present time lose their six months' interest which is an actual gain to the bank. The securities of the bank consist of State, city and county bonds, which can be realized upon at a moment's notice at a profit on their original cost. The real estate held by the bank, it has been ascertained, is fully worth the value set upon it, and from the inquiries made at other banks there appears to exist no reason for the late run, which, however, may now be considered at an end in view of the restored confidence that prevails. THE THIRD AVENUE BANK. It was said by the Committee of Thirteen, appointed by a certain number of the depositors, that a Mr. Tate, of No. 229 Broadway, had been appointed receiver, in place of Mr. Carman, by Judge Westbrook. THE MUTUAL SAVINGS BANK. Affairs were in statu que yesterday. The trus tees are exerting every effort to make good the do ficiency and so resume business. This will probably be done during the next six days.

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NEW YORK

The Savings Banks. NEW YORK, Oct. 9.-The run on the Northwest Savings Bank continues, aud a run was begun to-day on the German savings bank of Morrisania. Both banks are believed wholly safe. Proceedingsagainst Tweed and Sweeney. The struck juries for the trial of the million dollar suit against Tweed, and the seven million suit against Sweeney, appeared at the adjourned term of the Supreme Court before Judge Westbrook this morning. The judge stated that he had been assigned to Ulster circuit, and no other judge being available the cases were adjourned to Nov. 13th. There was a slight run on the North river savings bank to-day. All the demands were metand aid from sister banks was declined. Scull Race. The junior scull race at Greenwood Lake today, two miles, was won by Orr of the Seo wanhakos in 14.15; Mann of the Argonautas second; Mills of the Atalantas third; Conlen of the Friendships fourth. Imprisonment for Life. David Henry Peterson, a young negro, was convicted to-day of murder"in the second degree in killing his colored mistress and sentenced to imprisonment for life. Pools on Ohio and Indiana. Pools were sold to-night on the Indiana and Ohio elections. The betting on Indiana ranged from $100 to $80 down to even on Williams, and the same betting prevailed regarding Harrison. The betting as to Ohio on Barnes ranged trom 100 to 35 and 100 to 25, with many takers in the field. Pools on the result in the state of New York were sold, and 800 to 100 was offered that Tilden would not carry the state, and 500 to 100 that he would not carry it by 40,000 majority. Both bets were taken.

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NEW YORK

Gold from England. New York. October 9. Twenty-five thousand pounds of British gold bars were received at the assay office from London, to-day. A Reported Panic. A special from St. Petersburg reports a panic on the stock exchange there. But as the report has DO effect on the London market no credence is attatched to the report. Convicted of Murder. David Henry Peterson, a young negro was convicted to-day, of murder in the second degree, for killing his colored mistress-sentenced to imprisonment for life. Run on a Savings Bank. There was a slight run on the North River Savings Bank to-day. All the demands were met and aid from sister banks was declined. Scull Race. The Junior scull race at Greenwood Lake, today. for two miles, was won by Orr, of the Sea wauhakas in 14.15. Mann of the Arguantas 2d, Mills of the Atlantas 3d, Canlen of the Friendship 4th. Pool Selling. Pools were sold to night on the Indiana and Ohio elections. The balloting on Indiana ranged from $100 to $80 down to even on Williams, and the same betting prevailed regarding Harrison. The betting as to Ohio, on Barnes, ranged from 100 to 35 and 100 to 25, with many takers in the field. Many polls on the result in the State of New York, were also sold, and $80 to $100 was offered that Tilden would not carry the State, and $500 to $100 that he would not carry it by 40,000 majority. Both bets were taken.

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Other savings banks rans are announced, but seem not likely to produce bad results except to frightened depositors who withdraw their accounts. In the case of the North River Savings Bank, a quarrel between its President and the other trustees appears to have occasioned the immediate trouble; but savings bank depositors are generally in a frame of mind in which it takes very little to worry them.

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SAVINGS BANK EXCITEMENT

QUARREL BETWEEN THE OFFICERS OF THI NORTH RIVER BANK-MEETING OF THE DE POSITORS OF THE ABINGDON SQUARE BANK. The excitement consequent upon the failure of SC many of the savings banks of this city and viciuity au) pears to have slackened for the present, though no one is able to say if the list of suspensions is yet complete. When so many supposed institutions of savings are found to be "institutions of losings" it is not surprising that a state of feverish anxiety should prevail among depositors generally. The runs of Saturday upon the German Savings Bank THE NORTH RIVER SAVINGS BANK. The run upon this bank, which begun on Saturday, continued yesterday, though toward night there were signs of a reaction. The bank threw open its doors at a little earlier than usual and kept them open until all the depositors who desired their money were satisfied. It is understood that to meet these demands money was sent from the West Side Bank to the extent of $20,000. For this amount ample security was given in Brooklyn city bonds. The secretary, Mr. W. B. Stafford, stated that the amount withdrawn yesterday was between $25,000 and $30,000. About five out of six of those who came to get their money were deterred from doing so by the timely warning of the officials. Mr. Stafford says they received deposits all day, which is an evidence of the one-sided nature of the run. "We can pay dollar for dollar," said Mr. Stafford, "aud still have $80,000 remaining." The surplus upon July 1 was nearly $72,000, as shown by the following official statement made on that date:$809,617 38 Assets Total liabilities 737,662 11

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Getting Out of Deep Water

The promptness with which the demands of depositors were met has had the tendency to restore confidence and entirely stop the run on the North River Savings Bank. Mr. Stafford, the Vice-President and Secretary, says that the most perfect harmony exists now among the trustees and officers. "The bank," he says, "has a surplus approximating $30,000. the full amount it is allowed to carry under the law, and is prepared to meet any further demands that may be made upon it.' Mr. George Moore, the President of the West Side Bank, has written a personal letter to Mr. Stafford in explanation of his statement published on Tuesday. He save that he did not intend to be understood as in any way attacking the perfect soundness of the bank: on the contrary, be would guarantee to take the assets now and pay all the debts with. in sixty days, and still have a surplus equal to what is represented by the last statement of the trustees.

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DECISIONS

SUPREME COURT-CHAMBERS. By Judge Barrett. Spetlmann vs. Helienstein.-Motion dismissed, with $10 costs and stay vacated. Jocket VS. Cull.-Motion for a receiver granted, with $10 costs. Pentz vs. Guilfoyle.-Motion granted, with costs, and $10 costs of motion, unless plaintif, within five days, pay $10 costs of motion and stipulates to reter the action to a referee to be agreed upon or to be named by the Court and to proceed de die in order be1ore such referee on five days' notice. Wilson vs. Barney.-Report confirmed and account approved. Francis VS. Republic Fire Insurance Company.-Order of May 22 set aside, without costs, and motion granted. Morgan vs. Jeremiah.-Motion granted on the payment of the costs which have accrued since the original answer was interposed and $10 costs of this motion and stipulating to ask no delay of the trial in conse. quence of the amendment. Matter of Sands, &c.-Report confirmed and order granted. Vogle vs. The Mayor, & - Motion granted on payment of $10 costs of opposing the motion. Gabel vs. Gabel.-I think the plaintiff has now com. pleted his case and will be entitled to a decree upon complying with the late law as to his own innocence, to be found in the Daily Register of May 10. Gillian vs. Mitten.- am unwilling to make this without knowing something of the condition of the fund-now much the receiver has received and dispensed, and what for, and some testimony as to value as well as necessity. SUPREME COURT-SPECIAL TERM. By Judge Van Vorst. The Security Bank vs. Warren, &c.-Case and amendments settled. SUPREME COURT-CIRCUIT-PART 3. By Judge Larremore. Strong, &c., vs. Taintor.-Case settled. SUPERIOR COURT-SPECIAL TERM. By Chief Justice Curtis. Beyer and another vs. Amatel.-Undertaking on order to arrest approved. Conover et al. vs. Conover, &c.-Order and consent extending time. The North River Savings Bank VS. Foran et al. -Or. der of reference to Daniel Lord, Jr. Thurber VS. Hughes of sureties. Rust vs. Hauseit.-Order making judgment of Court of Appeals judgment of this Court. The North River Savings Bank V3. Foran et al.Judgment of foreclosure and sale. Savery vs. Feyh.-Order substituting attorneys. Beltany vs. De Forest and another.-Order amending pleadings and discontinuing as to M. J. O'Reilly. Green vs. Turnbridge.-Mouson for confirmation of referee's report granted and ordered that plaintiff file security for costs. The Nassau Bank vs. Rockett.-Order for reference. COMMON PLEAS-CHAMBERS. By Judge J. F. Daly. Dongan and another vs. Meyer.-Motion granted, without costs. States vs. Brander.-Application dismissed, with $10 costs. Matter of Casady.-Allowance of $60 per month. Leach vs. Henderson and Brockway vs. Doyle.-Motions granted, with $10 costs. SUPREME COURT--GENERAL TERM. By Judges Davis, Brady and Daniels. Sturgis, &c. vs. Drew et al.-Give notice of setticment for the 1st of June at half-past ten o'clock A.M. Ordered by Judge Brady. MARINE COURT-SPECIAL TERM. By Judge McAdam., Deitz VS. Casey.-Discontinuance allowed on payment of $10 costs. See Marine Court appendix, p. 44. Scott vs. Watts.-Hand in proposed order appointing receiver. Myers vs. Flynn.-Motion granted as per order filed. Beadelston vs. Weyrich.-Amenument allowed nunc pro tune, without costs. Fish vs. Goulding.-Mr. George W. Gibbons appointed receiver. Loomis vs. Morrisson; Adams vs. Perkins; Fanning: vs. Lindsay.--Motions denied.

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DECISIONS-APRIL 23

Supreme Court-Chambers-By Judge Donohne.Galland agt. Galland.-Plaintiff should have $5 per week and $50 counsel fee: see memorandum. Howland agt. Howland. -No proof of service of complaint. Dinan agt. Allen.-Order granted denying motion. Walter agt. Fowler.-Motion denied. costs to abide tue event. Phinney agt. Broschell-Motion denied: see memorandum. Felthausen agt. Elmore.-See memorandum. Marsh agt. Avery.-Order granted. Clark agt. the Niagara Fire Insurance Company In the matter of Norrie.Granted. Special Term-Br Judge Van Brunt-Dusenbury agt. Du. senbury. etc.-Granted. Gardner agt. Gardner.- Granted. By Judge Beach.-Falkland agt. the St. Nicholas National Bank.-Case and findings settled. Superior Court-Special Term-Bv Judge Sedgwick.-Sherman et at. agt. Kane -Case ordered on nie. Potts agt. Mayer et al.-Undertating approved. Smith agt. Hadwick.-Iuterrogatories settled. Quinn agt. Busaell ot aLOrder signed. Wood agt. Waterman etal-Order of discontinuance In the matter of Crase.-Order appointing Charles Crane guardian ad litem of William D. C. Crane. an infant. Malcom agt. O'Relliy et al.-Case on appeal ordered on file. Church et al. agt. the American Rapid Telegraph Company.Order of substitution. Dunstatter agt. Dunstatter.-Order of discontinuance. North River Savings Bank agt. Foran et al.Order passing receiver's accounts. Cohnfield agt. the NewYork Elevated Railroad Company.-Order of discontanua.ce. Brady act. the Manhattan Railway Company.-Order of substitution. Gordon art. Martin.-Order signed. Norris et al. agt. the Manhattan Real Estate Association.-C: on appeal ordered on file. Blackweil agt. Eurick: Harrison age. New. man: Zoller agt. Zeller: Currie agt. Steele; Livingston agt. Spaulding; Morehead agt. Pratt: Reffelmacher art. Floyd; Hart agt. Benediet: Rheinlander AMI, Hird; Howe Jacob; Morgan agt. Coekroft: Gordon agt. Martin; Barnard agt. Heller: Gane agt, Gans.-Orders grantes. Common Pleas-Special Term-By Chief-Justice C. P. Daty.-Day agt Ladd opinion. Jackson act. Welsh.Injunction dissolved; see memorandum. In re assignment of Olyphant & Company.-Application granted. Banford age. Banford.-Decree signed. Equity Term-By Judge Larremore.-Person agt. Oberteuffer.-Judgment for defendant: opinion. MeIntyre agt. Moran and another.-Judgment for plaintiff. Crulkshask ngt. Inger. soll and others.-Judgmest for defendant without costs. Marine Court-Chambers-Bv Judge Shea.-Wallmach agt. Kreatzer; Grow agt. Tilton: Riddle age. Crane. -Motions granted. Clark agt. Hamiton.-Order for commission. Truax art. McCallum : Guttman agt. Fantel.-Motions dea:ed. Hubbard age Bleman ; Hall agi. Willing; Kampe act. Burnton: Himrod agi Shaw: Jaeger agt, Lorenzen.Orders of discontinnance. Jackson age. Rellly; Emberson agt. Hunt.-Orders signed. By Judge Sheridan.-Clark agt. Mott.-Order vacated for examination of defendant. By Judge Sinnott-Manning agt the New-England Mutual Life Insurance Company.-Case settled. By Judge Goepp.-Marsulio agt. Daniel-Decision filed.