13975. German Savings Bank (New York, NY)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
savings bank
Start Date
October 7, 1875
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
d899744f4b3e38ae

Response Measures

None

Description

Contemporary articles report a run in October 1875 'caused by the collapse of the Third Avenue Savings Bank', a suspension in December 1875 (reported as suspended on the 7th), and later the bank was placed in the hands of a receiver in July 1877 and remained closed (receiver actions, asset disposal and auctions in 1878). Cause of run is linked to failure of another local savings bank; suspension/closure due to asset deficiencies (worthless town bonds, loan losses). Dates taken from newspaper reports (Oct. 7, 1875 run; Dec. 7, 1875 suspension; receiver appointment July 1877).

Events (5)
1. October 7, 1875 Run
Cause
Local Banks
Cause Details
Run explicitly attributed to the collapse/failure of the Third Avenue Savings Bank which sparked deposit withdrawals at the German Savings Bank.
Measures
Officers paid depositors on presentation of pass-books; stated they would not enforce the sixty-day rule (later runs also paid out; officers reassured public).
Newspaper Excerpt
There was a run yesterday on the German Savings bank of New York, caused by the failure of the Third Avenue savings bank.
Source
newspapers
2. December 7, 1875 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Examinations and department valuations showed large deficiencies arising from overvalued town bonds and depreciated railroad securities; trustees attempted to make up deficiencies but bank was reported suspended.
Newspaper Excerpt
The German Savings Bank of New York suspended on the 7th.
Source
newspapers
3. July 1, 1877* Receivership
Newspaper Excerpt
the bank was put in the hands of a receiver in July, 1877; the depositors petitioned against putting it into the hands of a receiver. William J. Best, receiver of the German Savings Bank, Morrisania, testified ... and later pursued suits against trustees and sold assets (1878).
Source
newspapers
4. March 16, 1878 Other
Newspaper Excerpt
Suits by William J. Best, receiver of the German Savings Bank, of Morrisania, against trustees ... foreclosure suits on mortgages given by the trustees in January, 1876, to make up deficiencies.
Source
newspapers
5. December 28, 1878 Other
Newspaper Excerpt
THE OFFICE FURNITURE AND STATIONERY OF THE DEFUNCT GERMAN SAVINGS BANK DISPOSED OF ... Mr. Best is receiver. Sale of furniture and later safes; proceeds to be applied to dividends.
Source
newspapers

Newspaper Articles (22)
1. October 9, 1875 Evening Star Washington, DC
Article from Evening Star, October 9, 1875

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The new city hall in Baltimore will b3 formally dedicated on the 25th inst. Ralston willed that his executors should not give bonds. The Tennessee Central college was dedicated yesterday at Nashville. An attempt was made yesterday morning to burn the William Penn Colliery at Shenandoah, Pa, The Citizen's bank, of Chicago, wen to into liquidation yesterday. Its capital stock is $50,000, and its liabilities $20,000. It is announced that the proposition. made to their creditors by Duncan, Sherman & Co., shortly after their failure has been withdrawn, only a few having accepted it. There was a run yesterday on the German Savings bank of New York, caused by the failure of the Third Avenue savings bank. The rate on fourth class freight fro Chicago to the east has been increased B cents per hundred pounds, the advance take effect on Monday next. Elizur Wright says the fact that A. P. Rice is a trustee of the Mutual Life Insurance company of New York gives more "assurance" than anything else of his election. Old Spotsylvania court house, Va., occupied as a dwelling house, by Mr. John Andrews, was burnt to the ground on Thursday night the 30th ultimo. A negro named Speer was hanged at Atlanta, Ga., for an outrage on a white girl aged fifteen years. He died pro. esting his lunocence. The business portion of Mahomet, III., was burned yesterday--one hardware, two dry goods and one drug store. The loss is about $30,000; insurance about$10,000. Incondiary. The National Executive Governing council of the Catholic Total Abstinence Union of America met at Cincinnati yesterday to devise means of carrying out the legislation of the general convention recently in session in that city.

2. October 9, 1875 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, October 9, 1875

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New York Items. NEW YORK. October 7.- It is stated that Duncan, Sherman & Co. have withdrawn the proposition made to their creditors, only a few having screpted it. On motion of Tweed's counsel for further delay the court gave the defendant seven days to prepire. There was a run OD the German Savings Bank, corner of Fifty-fifth street and Third avenue, to-day. Tbe president says the bank is sound, and the run was caused by the collapse of the Third-Avenue Savings Bank. Henry Rex. the watchman who sbot and killed John McKenna, a boy of twelve years of age, for calling him "Fritz," was convicted of murder in the second degree today, and sentenced for life.

3. December 16, 1875 The Anti-Monopolist Saint Paul, MN
Article from The Anti-Monopolist, December 16, 1875

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GENERAL MATTERS. China has appointed ministers for the United States, Peru and Japan. A Madrid, Spain, telegram of the 7th, says the weather is very cold in the north,and some soldiers have been frozen to death. The execution of an imperial decree reforming and reorganizing the tribunals of Turkey has been officially announced. The German Savings Bank of New York suspended on the 7th. The bank had 4,900 depositors. Liabilities about $830,000. The guard gates of the Sault Ste. Marie canal have been closed for the winter, and the work of repair will be commenced immediately. The question of the $30,000 race at San Francisco, is again being revived, but as some of the hor es to contest are still suffering from epizoot, it is not certain when it will come of. At Homestead, Iowa, fifty miles west of Davenport, on the 28th ult., a farmer who caught the wrong man in his wife's bed room, killed the introder by a blow with an axe, which smashed in his skull. The Kentucky State grange, P. of H.. has adopted resolutions favoring government aid to the Southern Pacific railroad, and also against attaching to the Order the colored organization known as the Council of Laborers.

4. April 27, 1876 The Anti-Monopolist Saint Paul, MN
Article from The Anti-Monopolist, April 27, 1876

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Some of the New York papers, and particularly the Commercial, speak of the continued decrease in the stock of legal tenders in the New York banks, and intimate that there is "some distrust in city bank management since the recent disaster to the old Bank of the State of New York." It is possible that there is an unsettled feeling in the public mind in New York that makes them ready to suspect where there is no real ground for suspicion. One evidence of this is, that last Wednesday there was a very persistent run on the German Savings Bank in that city, though the fact was not mentioned in any of the New York dispatches. - Chicago Inter-Ocean. So! The Republican Congress are trying to supplant the greenbacks with national bank notes, but the people rush to the banks, demand greenbacks and hoard them. This spring they have withdrawn eleven millions of greenbacks from the New York banks! Do they not know that the greenbacks are "Tag money," "mere promises to pay," dishonored lies," &c., &c,, &c?

5. February 1, 1877 The New York Herald New York, NY
Article from The New York Herald, February 1, 1877

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SUMMARY OF LAW CASES. In the suit of Merrick Plummer and Isaac M. Corts against E. P. Belden and others Judge Lawrence yesterday denied the motion to vacate the order of arrest. James McGuinness has finally come off the victor in his long contested suit against the city for $350, the value of his horse, which was lost by backing over a pier into the East River. Judge Lawrence yesterday gave judgment for the plaintiff. Nine cases or burglary and grand larceny were disposed of yesterday by Julge Gildersleeve and Assistant District Attorney Rollius. They did not, however, possess any special features of interest. William H. Bundy claims $10,000 damages from John Delaney, growing out of the sale of the "Excelsior Hay Carrier and Lifter." The suit was brought in this county and a motion was made yesterday to change the venue to Dutchess county. Charles L. Halberstadt, the lawyer committed to jail for contempt of court, was yesterday discharged by Judge Donohue. The discharge was on account of his sickness, and inability, therefore, to comply with the order of the Court. W. Z. Morton, referee in the case of the volunMr. dissolution of the Harlem and Spuyten Duyvil Navigation tary Company, submitted yesterday his report hands Donohue. He reports $10.230 in his to for Judge distribution to the holders of the 1,000 shares of the company, being $10 33 per share. the suit of George J. Luxton against the Howe to Machine In Company. a motion was recently made the amount required as security for reduc- costs. Judge reduce J. F. Daly yesterday rendered a decision ing the amount from $750 to $500. Charles A. Eaton and William V. King are ordered cotton Nicholas Mairazi, as they allege, brokers. to purchase ou his account 500 bales of cotton, them of which has not been paid. A MOLIOD de- to the make price the compiaint more specific was yesterday nied by the Judge'J. suit brought F. Daly. by Herman Uhl, receiver of Mill- the In German Savings Bank, against Betts mortUptown which was for a foreclosure of a $10,000 the dehauser, Judge Van Vorst yesterday decided that reduced gage, lendant's claim that the mortgage had been ordered $5,000 was substantiated. and judgment was accordingly. thirteen suits brought against the Lake Shore Of Southern Railroad Company, the partichave been published in have been tried and two remain to and eleven ulars Michigan of which the HERALD, be granted, tried. who has tried all the suits. au adjournment in the the ground of the sickyesterday, Judge S. Barrett, Prouty, adjournment suit brought being by John the absence of one counsel in Washington and of another. ness injunction suit of Augustin Daly against Sam- of In French the and another to restrain the publication have uel entitled "Lemons," " the facts of which Judge a play heretofore pubhshed in the HERALD, J. been yesterday, upon application of ex-Judge order A. Speir counsel for the defendants, gave an Dittenhoeler, to Mr. J. V. B. Lewis to take the allidavits Neuendorff and one J. Coggswell took a lease for years, of of reference Adolph Mary Heubener. three 26 Mrs. a year, of the turnished house No. Being West at $5,000 street, troin William P. Earl. for Twenty-third in rent Mr. Earl has brought suit attending its in arrears She says that through neglect of inmates recovery. plumbing, as promised, several of the and the to the last year taken III with typhoid fever has were vacated. She says, further, that the lease Donobue house been cancelled by mutual consent. Judge the matter before a referee. sent Horace Andrews has brought a suit against Corne- City Farley to recover on his official bond while a dislius There was a motion recently made to Marshal. the action unless the plaintiff tile security motion for miss Judge J F. Daly yesterday granted the unless costs. the case is brought to trial in the February term. Catharine McCarthy, who owned the house No. Mrs. East Forty-uith street. arranged to exchange the Eighty232 with Seigel Bernard for No. 328 East titles same street. When they came to exchange false refused to do so, claiming as Mrs. had been made to her by fourth representations McCarthy Beroard that Barrett value and rental of his house. Judge to the decision yesterday sustaining Mrs. McCarthy gave ordering a a dismissal of the complaint. and of administration were yesterday granted Calvin to the following by M. White, OD the estate of Letters Surrogate named Augustus persons:- Gilles- D. Elizabeth Julia Healey, on the estate of William WallWhite; Jacob Wallbacn, on the estate of Ellen Isaac Bern. p:c; Morris Bernstein. on the estate of bacn; Elizabeth Lewis, on the estate of William Emilio Ludovici. stein; Lewis and Julius Ludovici on the estate of Jones of Zeiss and others against the German in The Association case came up before Judge Donohue motion Press Court, Chambers, yesterday, on a 10 pay to Supreme the receiver of the defunct association positions compel the plaintifs, who tormerly occupied the over to and compositors of the as in his hands. The answer amount editors now association, has of collected the rethat since his appointment he over as coiver is which amount he IS willing to turn being only soon $200, as the referee before whom the case is now heard thes record his report. of business transacted in the Marine exThe of this city for the month of January, 1877, and zeal Court a most favorable light the industry of in dispensing of the heavy of that come continually before them for hibits the judges in calendars adjudica- Clerk cases Mr. John Savage, the efficient and zealous Termtion. the Court, compiles the following:-Trial of, 49. of tried and otherwise disposed 99. Part 1.-Culisos -Causes tried and otherwise disposed of, 60. Part 3--Causes tried and otherwise disposed of, moPart Special Term, Chambers-Contested Total, 208. 444; in which written opinions were parte filed, orders 32; opinions tions, indorsed on papers, 392; ex 1,102 658. Total business in Chambers, of Augusta E. Marsters against motion In Insurance Company there was a for the signed, Life the suit ago the Eclectic before Judge Van Hoesen some time the Supermade of judgement is the action requiring distributo intendent entry a of the Insurance Department to

6. April 28, 1877 The New York Herald New York, NY
Article from The New York Herald, April 28, 1877

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BOTTOMLESS MONEY BOXES. LOST PLEIADS OF OUR SAVINGS BANK SYSTEMNEW MATTERS FOR THE ELLIS INVESTIGATING COMMITTEE-HOW TO PREVENT FRAUDS. It is claimed by many influential merchants and others who have been interviewed on the subject that the present investigation of the official course pursued by Superintendent Ellis will clearly show that his neglect of duty has caused much of the suffering resulting from recent failures of savings banks. It is also contended that, in addition to the banking institu. tions named in Governor Robinson's late message to the investigating committee, there are other corporations whose cases have not been cited. but which furnish new prima facie evidence against the Bank Superintendent. Among these may be cited the Loaners' Bank of New York. About November, 1875, the Bank Superintendent was asked for a report upon the condition of this establishment, but it appeared that, the bank never having been examined, Mr. Eltis could furnish no information about its status. At the same time a lawyer wrote to the Superintendent asking to have the Loaners' Bank examined, but no examination took place, and the institution failed in May, 1876. A gentleman acquainted with its affairs says:"Its operations were worse than those of a low class pawnshop." The community lost $500,000 by the failure, much 01 which, it is claimed, might have been saved had the Banking Department held the corporation to strict account when required to do so. ANOTHER STARTLING CASE. In relation to the New York State Loan and Trust Company responsible parties state that about March, 1875, Mr. Ell's was officially informed by Mr. George W. Reid, examiner, and Mr. William T. Aidrich and others, that the capital stock had suffered an impairment equal to at least twenty per cent. It was the Bank Superintendent's duty to have caused this deneit to be made good, or to have closed the doors of the company under instructions from the Attorney General. No steps were taken by Mr. Exis and the concern was allowed to remain in the hands of the same parties until January 29, 1876, when the impairment of the capital amounted 10 about ninety per cent, and the trustees voluntarily relinquished the remaining ten conts on the dollar to a receiver. The loss 10 the public was about nine hundred thousand dollars. The wretched condition of this company was known to all persons familiar with us general operations at the time. By the statute of 1874 the superintendence of trust companies chartered by the State was placed under the charge of Mr. Ellis, and the condition of this concern was or should have been well known to him. A FRIGHTFUL LIST OF LOSSES. In conversation with Mr. John Mack, of No. 365 Fifth avenue, that gentleman gave the following estimates of the losses suffered by depositors 10 the suspended savings banks, and says that he believes the greater part of the immense sums which are given below migot have been saved if Bank Superintendent Eths bad properly discharged his important duties:$150,000 Abingdon Square Bank 1,730,000 Bona Street Savings Bank 500,000 German Savings Bank, Morrisanta 2,000,000 Mechanics and Traders' Savings Bank 450,000 Mutual Benefit Savings Bank 750,000 New Amsterdam Savings Bank 200,000 People's Savings Bank 400,000 Security Savings Bank 1,440,000 Third Avenue Savings Bank. 120,000 Traders' Savings Bank 1,000,000 Bank of Lainsburg 1,000,000 New York State Loan and Trust Company Loaner's Rauk 500,000 500,000 Security Bank Manufacturers and Builders' Bank. 460,000 Total $11,200,000 HOW TO PREVENT FRAUDS

7. May 18, 1877 New-York Tribune New York, NY
Article from New-York Tribune, May 18, 1877

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NEW-YORK CITY. Amber ornaments are coming into fashion. The .. gentle Spring" organ has but one stop-at night. Pastoral scenes painted on ivory fans are new and pretty. Goats are fashionable pets because they are fond of bunting. Oixdized silver cloak-clasps are all the rage for dolmans this Spring. Conductors complain of the large numbers of pewter five-cent pieces in circulation. Wild strawberries were sold in market yesterday. They are much cheaper than the cultivated varieties. Stealing lunch from children while on their way to school is the latest form of meanness practiced by tramps. The steamship Frisia, which sailed yesterday, carried foreign mail consisting of 29,594 letters and 67 bags of papers. It may be suggested to suburban farmers that the way to cure potato bugs is to discover just what is the matter with them. The wards of city hospitals are now made attractive by the bouquets placed there by members of the Flower Mission A harp made of forget-me-nots, with gold tinsel strings, was a design for souveair to all artist in music, made by a Broadway florist yesterday. People are beginning to owe for a lodge in some vast wilderness, relieved by the thought that the proprietor does not require pay in advance. A enrious feature of a Fourteenth-st. oyster house is a miniature giant composed entirely of oyster-shells It is the work of a fisherman in Stamford, Conn. The Aldermen's Committee on Streets will meet this afternoon to hear persons interested in having freight cars run by steam on the Belt Railroa with coance ing tracks on the wharves and piera. The steamship Huntsville, which arrived here yesterday, passed a ship on fire in la.itude 349 57' longitad 72 58. The name could not be ascertained The vessel ap peared to have been burning two or three days. By the light of the moon last evening Murrayst., near Broadway, presented a festive appearance. The broad sidewalk furnished a platform, an accordeon all that was required is the way of music, and 15 or 20 couples de spite the heat, danced until a late hour. A paeamatic engine is housed in the stables of the Second Avenue Railroad near Harlem River. It is propelled solely by atmospheric pressure, and can carry at a rapid raté a number of cars It will soon run between Sixty third- st. and the upper end of the Island. A large number of friends were present at the funeral of the Hon. Charles H. Wheelan, ex Member of Assem. biy from the XVIIth District, which took place yesterday at his late residence, No. 126 East Fourth-st. The pall-bearers were John Keily, Thomas J. Creamer, M. C. Gross, S. Mont. gomery, L. J. Leonari, Edward Lambert, Thomas Smith, and L. Hennessy, Mayor Ely, Jackson S. Schultz, and Daniel O'Brien were among the callers. Attorney-General Fairchild sent a representative yesterday to the banking-house of the suspended German Savings Bank in Morrisania. to consult with depositors in re gard to the appointment of a receiver. Each depositor was required to show his pass-book and indicate his preference in riting. There was but little interest manifested Mr. Hoeland, the late cashier said that if harmony should prevail among the creditors of the bank they would get at least 75 cents on the dollar. The police of the Eighth Precinet were informed yesterday that Mary Robertson, age 37, was dy ing at No. 197 South Fifthave, Capt. McDonnell proceeded at once to the place, and found the woman suffering greatly She said that she quarreled on Saturday with Sarah Feeny, who threw her down stairs. The injured woman was taken to the Chambers Street Hospital, and it wasfound that her ribs and arms were broken, and she was much bruised on the head and body. She was afterward removed to Bellevue Hospital, where thought that she will recover. Her assailant has not been arrested. Songs, piano solos and duets, recitations. and other exercises filled up the programme at the anniversary exhibition of the New York Institution for the Blind, last evening, in the presence of a large audience, at Steinway Hall. On the stage were seated the pupils of the school Calisthenic exer elses, performed by a dozen boys and girls, called forth much applause. The recitation in arithmette was also well received. The multiplication of large numbers was performed by the use of a blackboard, on which letters representing figures were placed, and the calculation of intereston a large sum of money for any number of years, months, and days was made with ease and rapidity. The instructor of this class was blind. Geography was also illustrated by means of dissected maps. L. E. Howard, brother of James M. Howard, who committed suicide at the Vanderbilt House on Wednesday morning, saysthat his brother had not been drinking liquor on that day, as reported, and that he W38 temperate man. He believed that the loss of his watch had depressed his brother's spirits 80 greatly that he took his own life. The police had re covered the watch and arrested the pickpockets before the suicide was committed, but Mr. Howard did not know this when he killed himself. Michael Norton, John Harrington, John White, and William White, the men accused of stealing the watch, were yesterday before Justice Fiammer, at the Fitty-seventh Street Police Coart William White was dis charged, the evidence being insufficient to convict,him The others case. were remanded to enable the officers to complete the BROOKLYN. The summing up in the Kingsley & Keeney resrvoir reference suit against the city was postpolied yesterday for one week on account of the absence of the senior counsel for the city. Some of the florists whose shops are near Greenwood are hired by the season to keep crosses of flowers on graves. These crosses are placed dat on the mounds, and are just the length of the graves. Justice Guck yesterday held for the Grand Jury Mary Scott and Nellie Page. two pretty shoplifters, each about 20 years old, who were arrested for stealing a number of valuable articles from Eastern District stores. The Police Commissioners yesterday dismissed from the force Michael Devlin of the Tenth Precinct for drunkenness. They also fined Michael Boyle of the Twelfth Precinct and Richard A. Daryea of the Ninth Precinct one day's pay each for being their posts. Messrs. Price and Farrell were appointed last Monday by the Common Council as clerks of the Aldermen's Committees, and on Wednesday took the oath of office. Isaac o rane, the former clerk, declines to surrender his office to the new appointees until next week.on the ground that ananimous consent was not obtained from the Aldermen. The Mayor de clines to interfere. Thomas E. Cable's $10,000 four-in-hand and English drag will make the first trip of the season from the Pierrepont House, on the Hights, to Coney Island. It will run from the Pierrepout House and the Astor House on alter nate days. The coach will carry four inside and twelve out and side the Ocean passengers Parkway, The route will be through Prospect Park The sixteenth anniversary of the Howard Mission and Home for Little Wanderers, of No. 40 Bowery, New York, was celebrated at the Academy of Music last evening About little waifs, nearly all dressed in white, were seated on the stage and gave songs and declamations Addresses were made by the Rev. Dr. Reuben Jeffrey of Brooklyn and the Rev. M. H. Posgen of St. Louis, Mo. Contributions were taken for the assistance of the mission. Sheriff Daggett of Kings County receives35cents a day for the board of each prisoner in the Raymond Street Jail. Local politicians have lately been discussing the pro priety of reducing this amount The Supervisors' Jall Com mittee were directed yesterday to report at the next meeting the proper rate that the Sheriff should receive. The Commit tee on Salaries were also instructed to report as to the advisability of reducing the salaries of other county official.

8. August 3, 1877 The New York Herald New York, NY
Article from The New York Herald, August 3, 1877

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# SUPERINTENDENT ELLIS' TRIAL. EVIDENCE ELICITED BEFORE THE STATE SENATE-WORTHLESS TOWN BONDS AS BANK ASSETS. ALBANY, N. Y., August 2, 1877. The Senate this morning examined Marcus T. Hunt, Deputy Attorney General, who said he put the word "zettled" on the register of the suit commenced against the People's Bank, testified to some days since; did so on the general understanding that the trustees would put up securities; did not remember being instructed by Ellis. Lemuel Clark, bookkeeper of the Loaners' Bank and of the receiver, was called. Mr. Chapman objected to his testimony The question was more whether Ellis could enforce the law to make this bank report than whether he was negligent. He finally withdrew his objection and the examination went on. Witness said the bank had large transactions with the Continental Insurance Company, pledging $201,000 worth of railroad bonds and stocks for $45,000. On his cross-examination he said he saw a man called an examiner in the bank several times; never remember seeing him at the bank or hearing that he had been there for the purpose of testing his power over the bank. To Senator Woodin-Understood the bank failed because of trouble among the trustees; they proposed to sell the charter. To Senator Prince-They expected to receive $150,000 for the charter on account of the extraordinary privileges it contained; it was a largo pawn-broking establishment. The prosecution produced the opinion of William Tracy, heretofore referred to. The witness identified it, and read from it that Mr. Tracy did not consider the Loaners' Bank subject to chapter 324 of the Laws of 1874. Mr. Warner, general clerk in the Bank Department, testified that a commission was issued to Reid as Bank Examiner March 31, 1876; it was returned May 12, with a note that the bank refused to be examined. (The commission, which was missed from the tiles of the department, has since been produced before the Senate Committee.) To Mr. McGuire-The commission is a printed form and can be duplicated. THE GERMAN SAVINGS BANK. Deputy Superintendent Lamb produced the semi-annual report of the German Savings Bank at Morrisania, dated January 1, 1875, showing an excess of assets amounting to $27,352 81; on April 24, 1875, Mr. Reid made a special examination and found a deficiency of $77,314 68; a difference in the estimated value of town bonds and railroad stocks caused this; on December 25, 1875, Ellis notified the trustees that the deficiency must be made up; on January 1, 1876, the bank reported an excess of $11,877, and on January 1, 1877, an excess of $12,091; a committee of trustees came up during the latter part of February, 1877, and held an interview with Ellis; don't know what he said; a letter from Hall, attorney of the bank, January 6, 1876, said they had put in bonds and mortgages and made the deficiency good; no other letters wore on file, excepting one from Ellis to the Attorney General, February 24, 1877, recommending that the bank be closed and explaining that it had on hand a large amount of town bonds which had been repudiated and in default of interest for several years; the bank was put in the hands of a receiver in July, 1877; the depositors petitioned against putting it into the hands of a receiver. In reply to Senator Gerard, witness said there was no evidence in department of examination except by Reid; Ellis made no statement of his visit. In reply to Senator St. John, he said there was no proof of the deficiency being made good except from reports of the bank. Isaac Smith, clerk of the department, testified to the examination of the report of January 1, 1877; he valued the bonds less than the trustees did, and thus made the deficiency. WHAT THE RECEIVER FOUND. William J. Best, receiver of the German Savings Bank, Morrisania, testified that the amount of assets he found was $171,022 21; he did not estimate $41,000 in town bonds; the trustees had put in bonds and mortgages $33,500 and cash $18,850 to make up the deficiency; the bank made a loan to the Montclair Railroad, New Jersey, in September, 1872, taking first mortgage bonds as security, and made further loans to the same road in February and September, 1873; only $10,000 were paid on these bonds; he read from the trustees' book of minutes from December 29, 1875, noting the visit of Reid and showing the anxiety of the trustees to make up the deficiency; in their efforts to save the assets several of the trustees contributed to that end; on February 20 1877, counsel and one trustee were sent to Albany to consult Ellis; they reported that Ellis said the deficiency must be made up; said he would pay the depositors fifty per cent if the securities of the trustees were good, and if the town bonds were paid he could pay sixty or seventy per cent. On cross-examination he said that he found all the assets reported January 1, 1877; the deficiency was due to the difference in the inflation of bonds; he found there were $230,000 due to depositors; during the last two months $70,000 were drawn out by the trustees and others. At the request of Senator Harris the receiver read from the minutes the cost of lunch, $75, and wines, $174, when the bank building was finished, which was added to the building account. Adjourned.

9. August 9, 1877 The Sun New York, NY
Article from The Sun, August 9, 1877

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to Several Banks. SARATOGA, Aug. 8.-At the opening of the Senate to-day. Mr. Ellis said that in his judgment the closing of the Third Avenue Savings Bank at the time he consulted Mr. Cisco, John A. Dix, and others. after the failure of Duncan, Sherman & Co., would have been very disastrous to the city of New York. On the cross-examination he said: The mischief would have been a run on the other banks and moneyed institutions It was about Aus. 1, 1875, that he consulted the financiers. There was more or less run in the fall of 1875. closing six banks in which there were deficiencies, and putting them into the hands of receivers. The depositors cannot get their money back. I had some faith that the trustees would help some banks. It hurts a bank to stop payment. When they resume and cannot pay at once, dépositors are certain to suffer. The Third Avenue Bank's real estate realized only twenty per cent. on its cost. The banking house was sold for thirty per cent on its cost. It was afterward sold for more privately. I foresaw this result, but was forced to put it in the hands of a receiver. All the depositors in the banks named suffered If the depositors of the Bond Street Bank had not lost confidence, and the bank had kept on until real estate became better. they would not have lost so much. In the case of the German and Security Banks, it would have been better for the depositors if receivers had not been appointed. I felt bound to take into consideration the interests of all depositors, I might find a bank with a deficiency of assets, and not hand it over to the Attorney-General Again. I might deem it advisable to do so at ofice. I WAS influenced by the advice of financiers, and formed opinions of my own. I was preparing a communication to the Attorney-General about the Third Avenue Bank when the committee called to see me. The recommendation to the Attorney. General was based on all the facts in my possession. When, in 1875, the report of the Third Avenue Bank came to the department, I had a conversation with Deputy Lamb. We agreed that closing that bank would close a number of smallerbanks. 1 favored the law of 1875, which allowed smaller banks to consolidate with larger and stronger ones. Some financiers I consulted agreed with me, and others did not. I visited the Trades Savings Bank several times in regard to its report of November, 1875, and called the attention of the Secretary to the mortgages and the deficiencies, and told him the deficiency must be made up. The Secretary said the trus. tees proposed paying in the money. Reid wrote that the money had not been paid. and the books were in such a I condition that he could not find out about the bank went to the People's Savings Bank with Reid in the fall of 1874. and Reid examined it. but did not know that he made a written report until it was produced on the trial. From conversation with the officers formed an idea that the reports made by the bank were correct. I was aware in 1874 that the charter of the Loaners' Bank required them to report to the department The President claimed that his bank had made a statement every year. I never SILW any reports. I never sent them blanks to All up. When I went into office I tried to inform myself about all the laws relating to banks I o examined reports and consulted clerks. I found one hundred and sixty five exsavings banks, with deposits of $350,000,000 The penses allowed by the Legislature for my department were about $170,000. In the direct examination, Mr. Ellis said that after the report about the bogus checks in the Abingdon Square Bank. July 19. 1876, he left the papers on the table with Deputy Lamb, and went out of town on a vacation. He couldn't remember giving Lamb any directions regarding it. To Senator Gerard-I refused to receive personal secu. rity from the trustees of the German Savings Bank of Morrisania, because I did not consider it expedient. The personal securities of the Third Avenue Bank were received by my predecessor. The law of 1875 made a change regarding such securities. I did not analyze the reports of banks to see who ther items of accrued interest were of interest running for the current yeur or dead interest overdue I had not wound up any banks before September 1875. had exexperience. To Mr. MeGuire-Abstracts of the reports of banksshow. ing their assets are made out for the Legislature every year. When any question of doubt as to the construction of the law arises, it always goes to the Attorney-General for advice I think if the law reducing the interest to be paid by banks from 6 to 5 per cent. had been passed earlier, some of these banks could have gone on.

10. March 16, 1878 New-York Tribune New York, NY
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# SUITS AGAINST BANK TRUSTEES. Three suits of William J. Best, receiver of the German Savings Bank, of Morrisania, against trustees, were tried yesterday before Judge Van Brunt, in Supreme Court, Chambers. All were foreclosure suits on mortgages given by the trustees in January, 1876, to make up deficiencies. The defence was substantially that these differed from the Third Avenue Savings Bank cases, in that the security then was given in 1872, and in 1875 the Legislature passed an act expressly for-bidding a trustee of a savings bank froin becoming an indorser or in duy manner an obligor for moneys loaned by or borrowed of the bank. Judge Van Brunt reserved his decision.

11. March 16, 1878 The New York Herald New York, NY
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THE GERMAN SAVINGS BANK. There was tried yesterday before Judge Van Brunt, holding Supreme Court, Circuit, a. suit brought by Williams J. Best, receiver of the German Savings Bank, against Nicholas Phil to recover upon bond and mortgage for $1,000 given by Mr. Phil to Mr. Ernest Hall, the attorney of the bank, and by him assigned to the bank and forming part of the bank's assets coming into the hands of the receiver. The defence was that the mortgage was without consideration, and that it was given by the defendant as trustee of the bank to help make up a deficiency on loans on Oswego and Midland Railroad stock accepted as collateral for such loans, and which meantime had greatly depreciated in value. It was stated that this deliciency amounted to $21,000, and that the trustees agreed among themsolves to make up the deficiency. It was stated turther that his deed was recorded without his knowledge or consent, and claimed that the loans on the ruilroad stock were contrary to statute and therefore void. Upon the testimony taken in this case-Mr. Frederick Smyth appearing for the receiver and Mr. Algernon S. Sullivan for the detendant-there was submitted a somewhat similar suit brought against George Schippel. In this case, however, the mortgage was assigned to Jacob Held, the president of the bank, as alleged, for good consideration.

12. April 3, 1878 New-York Tribune New York, NY
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CIVIL NOTES. Judgement in foreclosure was entered in the Kings County Supreme Court, yesterday, by the Mutual Benefit Life Insurance Company. against Dr. J. Cooper, for $22,551 49. The first legal step in the effort to break the will of the late Samuel Wood will be taken to-morrow in the Surrogate's office. The counsel for the contestant will then offer his objections to the probate of the will. Chief-Justice Daly, in Common Pleas, Special Term, granted, yesterday. leave to various petitioners, creditors of Greenleaf, Norris & Co., to the extent of about $10,000 in the aggregate, to sell collaterals held by them to secure their debts. The suit of Elias C. Benedict against the Western Union Telegraph Company and the Atlantic and Pacific Telegraph Company was to have been tried, yesterday, in Supreme Court, Special Term, before Judge Van Vorst, but after a brief discussion, was adjourned to Wednesday, April 10. Judge Donohue has referred the divorce suit of Frances Josephene Mora against Autonio Luigi Mora to W. A. Boyd. The plaintiff says she was married to the defendant February 21, 1863, and has two children, but that in November, 1873, he deserted her and went to Milan with one Mary Oakley. In the quo warranto proceedings of Andrew Zeiser against Charity Commissioner Moses Kessel, of Kings County, the defendant, as directed by the Supreme Court in Brooklyn, has furnished a bill of particulars. It alleges that 842 votes for Zeiser were not counted: that 317 more votes than belonged to Kessel were counted for him, and that 44 ballots on which Zeiser's name was wrongly printed were not counted for him. Amelia Weiterhold, of Brooklyn, yesterday obtained the arrest of Bernard King, a linen merchant. of No. 256 Canal-st., in a $10,000 suit for alleged sedue tion and breach of promise of marriage. The complainant alleges that under promise of marrying her, on September 1, 1876, the defendant betrayed her. She is now a mother. The defendant was held in $2,500 bail. It is said that be is engaged to marry a young lady of fortune and high social position soon. Two suits brought by William J. Best, as the receiver of the German Savings Bank, of Morrisania. were submitted yesterday to Judge Van Vorst. They are against John C. Friedman and William Hoelandt, former trustees of the bank, on bonds given by them to make up a deficiency. The testimony in a similar suit previously tried was accepted as the testimony in these suits, the only question being one of law. Frederick Smyth appeared for Mr. Best: A. Erbe for the defendants. The trial of the suit of Thomas C. Clark against the Mechanies' National Bank was begun, yesterday, in Common Pleas, Trial Term, before Judge J.F. Daly. The plaintiff claims that the bank owes him $27, 149 90, deposited with it in 1864. The bank says it was all drawn out on twenty-three checks drawn by the plaintiff in that year. These checks, the plaintiff says, were not drawn by or returned to him. The case is still on. William A. Beach appears for the plaintiff; John K. Porter for the bank. The trial of the suit of James B. Bond against Henry Welsh was begun, yesterday, before Judge Freedman, in Superior Court, Trial Term. The plaintiff represents the lessors of the warehouse at Washington and Franklin-sts., which fell. He asks $10,000 damages, claiming that the fall was cansed by the overloading and improper loading of goods in the ware. house. The defendant denies any overloading of the floors, and claims that the fall of the building was occasioned by its inherent defects. John M. Seribner appears for the plaintiff 8. P. Nash for the defendant.

13. April 27, 1878 New-York Tribune New York, NY
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CROWDS OF DEPOSITORS AT THE GERMAN AND DRY DOCK SAVINGS BANKS-REASSURING STATEMENTS AND FIGURES FROM OFFICERS-THE TEUTONIA AND THE SIXPENNY. The suspension of the Teutonia Savings Bank, following close after the failure of the Sixpenny, has caused anxiety among the Germans of the East Side, which was rather increased than abated yesterday. The "run" on the Dry-Dock Savings Bauk on Thursday soon caused uneasiness among those in the vicinity who had money on deposit in the German SavingsjBank at Fourteenth-st. and Fourth-ave. A large number of depositors went there Thursday afternoon to close their accounts. Yesierday morning when the bank opened its doors people hurried to secure the first places in the line. Many gathered in groups on the sidewalks. and had an animated discussion about the safety of their money. This gave the street an unusual appearance, and attracted scores of people to the place who had no interest whatever in the bank but yet served to swell the number present. The crowd was orderly. A number of persons who came to draw their money saw with what readiness others were paid, and departed without carrying out their intention. At 3 o'clock the doors were closed. and it was found that above 350 depositors had drawn money. The majority of these cancelled their accounts. G. F. Amthor, treasurer, said that the little excite ment on the previous day made the officers prepared for the run." Most of the people who cancelled their accounts. he said. belonged to the East Side, and lived in the vicinity of the Teutonia and Dry Dock Banks. Some had deposits in these banks. There were few not Germans. The bank, he declared, was able to meet the run. If the officers did not think so they would certainly have taken advantage of the sixty days' act. The bank has been in existence twenty years, and has sustained several runs before without requiring a notice of sixty days. The following is the semi-annual statement, showing the condition of the bank on January 1, 1878: LIABILITIES. $10,666,661 1 50 Due 25,472 depositors 38th semi-annual dividend due 216,603 05 January 1 $10,883,264

14. April 27, 1878 New-York Tribune New York, NY
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WITH SUPPLEMENT. THE NEWS THIS MORNING. FOREIGN.-Merchants in German and Belgian ports refuse to consign goods for long voyages in Tefik Pasha has left ConBritish ships. stantinople for the scene of the MussulLieutenant-General Heimann, man revolt. of the Russian Army, is dead. Great enthusiasm is manifested in the East Indies at the order to send troops to Malta. DOMESTIC.-Mr. Coe, Mr. Tappan. and Mr. Seligman, of New-York, gave their views upon resumption to Mr. Ewing's committee yesterday; the Syndicate has called for the May $5,000,000 of = A canvass of the House of Rep412 per cents. resentatives shows a majority against the Wood THE TRIBUNE'S exposures with Tariff Bill. reference to Southern claims have led to an attempted reply by a Mississippi Congressman, the substance of which is set forth in to-day's WashThe Holahan Excise Bill ington dispatches. was received by the Senate and referred to the Judiciary Committee, where it is thought it may Memorial day possibly be permitted to rest. was observed in the South; the corner-stone of the Confederate monument was laid at Macon, Ga., and a letter from Jefferson Davis, on the objects of the President Hayes visited some war, was read. of the leading manufactories of Philadelphia ; Mrs. Hayes visited the schools; both held receptions. CONGRESS.-The Senate was not in session yesterThe House passed the Post Office Approday. priation Bill without special debate on any topic except that of the pay of letter-carriers; Mr. Phillips made a personal explanation to deny that he had introduced a bill for an appropriation of $1,300,000,000, as was charged by a Mississippian-the sum called for was only $30,000. CITY AND SUBURBAN.-There were "runs" at the German and Dry Dock Savings Banks yesterday. The State Banking Superintendent said that there was no cause for alarm. = Mr. Beecher denied reports that he would sue Mr. Tilton and Mr. Moulton. An unknown woman interrupted the Plymouth prayer=== A private Erie meeting was meeting. held, at which steps were taken toward reconstruction. Reports were in circulation that W.H. Vanderbilt's intention in going to England Great interwas to establish a steamship line. est was shown in the closing scenes of the Newell trial. The body of a murdered man, Bernard Feron, was found in the Erie Basin. The Richmond returned with news of the progress of the new Brazilian railroad. Many persons took advantage of the present bankGold, 10012, 1003g, 1003g. Gold ruptcy law. value of the legal-tender dollar at the close, 99710 cents. Stocks feverish and fluctuating, but generally lower, closing irregular. THE WEATHER-TRIBUNE local observations indicate cool and clearing weather, after a foggy morning. Thermometer yesterday, 60°, 61°,55°.

15. April 28, 1878 The Sun New York, NY
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DEPOSITORS LESS ALARMED. The Second Day's Draft on the German Bank's Cash-The Other Banks. The German Savings Bank, at Fourteenth street and Fourth avenue, stood a second day's heavy draft on its cash box yesterday from its depositors. About $200,000 was draw out on the day before by more than 400 depositors. About 600 more depositors withdrew their money yesterday in the two intervals from 10 A. M. to 3 P. M., and from 6 P. M. to 8 P. M. In the morning there was no rush atthedoors, but holders of bank books kept dropping in quietly until. at 3 o'clock, when the doors were closed. about 200 remained to be paid, and they were not allowed to go away without being paid. In the evening there were no less than 50 depositors at the doors when they were thrown open, and more than 100 were in line when they were closed. All were paid. Perfect order was maintained by two stalwart Germans, who kept the depositors in line. There were many more men than on the first day. The heaviest account closed was one for $5,000. First VicePresident E. S. Ballin said that there was no intention to take advantage of the sixty days' notice. and that those who ask for their money can have it. The President of the Dry Dock Savings Bank received a letter from Superintendent Lamb yesterday, approving of the course of the officers of the bank in requiring sixty days' notice from all depositors who desired to withdraw more than $100. The Superintendent thinks that the enforcement of the sixty days' rule the best method of treating all concerned in a fair and impartial manner. The run on the bank was almost entirely stopped yesterday. At no time was there more than flfty persons in the bank drawing their money. At the hearing before Judge Westbrook yesterday at Hudson, the attorney for the Teutonia Savings Bank admitted the substantial correctness of the report of the bank examiners, and conceded that the bonds issued by the towns of Staten Island. of which the bank held $109,900 worth, were valueless, as the Bank Superintendent asserted in his official communication to the Attorney-General. He also conceded the insolvency of the bank, and did not oppose the appointment of a receiver. The Bank Superintendent made personal inquiry of well-known residents of Staten Island respecting the validity and value of the town bonds issued by towns on that island, a part of which were held by the Teutonia Savings Bank as a stock investment. The uniform opinion was that such bonds were worthless. This inquiry was made after the receipt of the report of the examiners and fully sustained the same in respect tothe bonds referred to. At an adjourned meeting of depositors of the Sixpenny Savings Bank, in the First District Court room in Chambers street, yesterday, complaint was made because the committee appointed At the previous meeting to take steps to have the officers of the bank prosecuted failed to make a report or even appear. Where's the committee?" an indignant depositor exclaimed. Perhaps the bank men have bought them off." another said. "I should think the committee might be polite enough to come to the meeting. anyway. and let us know whether they intend to do their duty or not." After waiting an hour and a half for the committee to come. the meeting was adjourned without transacting any business. The report that the German Up-town Bank had paid 80 per cent. to its depositors is erroneous. Sixty per cent. is the amount so far disbursed.

16. April 30, 1878 Evening Star Washington, DC
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THE RUN on the German Savings Bank in New York continued yesterday, and the officers say they have no intention of enforcing the sixty-day rule. The run on the Dry Dock Savings Bank has abated.

17. April 30, 1878 New-York Tribune New York, NY
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DEBTS OF BANKS AND FIRMS. ARRANGING FOR SETTLEMENTS. A RECEIVER FOR THE TEUTONIA SAVINGS BANKTHE "RUN" ON THE GARMAN BANK CRASINGCONDITION OF THE NEWARK DIME INSTITUTION --BANKRUPTCY OF BENJAMIN WOOD, DAVID T. KENNEDY, THE M'NAB & HARLIN MANUFACTURING COMPANY, MICHAEL NORION, AND OTHERS. Judge Westbrook has appointed James D. Fish, of the Marine Bank, receiver Bank. The on president tonia Savings "run" the of the German White- TeuSavings Bauk has nearly ended. Examiner head has reported on the condition of the Newark Dime Institution for Savings, spowing a probable loss of 14 per cent to the depositors. Several large failures or suspensions were reported in this city, including those of Benjamin Wood, for $233,95609; David T. Kennedy. the builder, for $540,000; the McNab & Harlin Manufacturing Company, and Michael Norton. THE TEUTONIA'S RECEIVER APPOINTED. JAMES D. FISH, PRESIDENT OF THE MARINE BANK, SELECTED-A DEPOSITORS COMMITTEE GONE ON A VAIN MISSION. An Associated Press dispatch from Rondout yesterday stated that Judge Westbrook, after hearing arguments on an order to show cause why a receiver of Bank in this city named James D. Fish, the pointed, Teutonia Savings president should Mr. of the Fish not National is be well apMarine Bank of New-York, r ceiver. known in financial circies. The Marine Bank is at No.-78 Wall-st., but Mr. Fish's residence is in Brookiyn. About 500 depositors of the Teutonia Savings Bank met at No. 28 Avenue-A, yesterday. Arrangements for the meeting had been made by a few of the wealthiest depositors, who met in Fourth-st., on Saturday evening, and sent a dispatch to Judge Westbrook. asking him to defer the appointment of 8 receiver until a meeting of the depositors could be held. Many of the depositors present yesterday were women, some of whom came with babies in their arms. All were Germans, and the majority seemed to be of the working class. The proceedings were condueted in the German language. Francis Euring was elected chairman. Charles Boss moved that a committee of seven should go to Judge Westbrook and ask him to appoint a receiver who could speak the German languaze, as most of the depositors were Germans. His motion was seconded, but was nearly an hour before the chairman was able to got a vote on it. Several of the more excitable Germans present insisted on speaking from their places in the audience and as they could be heard only by it few, their remarks caused much confusion. At one time three or four men were standing up in cacic chairs, shouting and gesticulating wildly. amid a storm of hisses and calls to order. One infurrated depositor advised that they should tiud of the bank and hang them to were greeted by the His trustees remarks both nieses iamp-posts. and and a applause. Order was restored at length, committee, consisting of the chairman of the meeting, Charles Boss, J. Dausche, Felix Horn, Joseph Pruell, Edward J. H. Tafusen, F. Seib, and Charles Jang, was appointed to lay before Judge Westbrook the wishes of the depositors regarding the ap pointment of a receiver. A proposition that each perBOU in the room should pay 25 cents toward delraying the travelling expenses of the committee caused much excitement and anger among the women present. The committee appointed Measts. Boss, Dauselle, and Horn, to go to Albany, consult with the banking superintendtot and afterward see Judge Westbrook. The sub committee was instructed to urge the appointment of Herman Unl, receiver of the German Uptown Savings Bank, or of Christian Schwarzwarkder. president of the Germana Bank. The sub-committee left this city for Albany last evening. The run on the German Savings Bank was resumed yesterday, but the drafts were not 80 heavy as OD Saturday, when over $200,000 was taken away by anxious depositors. The bank officers est mated that less than $100,000 would DO drawn out during the day. They felt confident that the run would not continue twenty-four hours longer. There was no excitement at the Dry Dock Savings Bank, the run having ceased.

18. April 30, 1878 The Daily Dispatch Richmond, VA
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New York Savings Banks. NEW YORK, April 29.-The run on the German Savings Bank continued to-day. The officers state that they have no intention of enforcing the sixty-days clause. The run on the Dry-Dock Savings Bank has abated.

19. April 30, 1878 The New York Herald New York, NY
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SAVINGS BANK TROUBLES. THE RUN ON THE DRY DOCK ENDED-TRUTONIA DEPOSITORS LOOKING OUT FOR THEIR INTERESTS-A RECEIVER APPOINTED. All signs of the run at the Dry Dock Savings Bank, corner of the Bowery and Third street, have disappeared and the office has resumed its accustomed quiet. The deposits were in excess of the payments, and not over twenty persons called during the day with their accounts. The sixty day rule is still enforced. At the German Savings Bank, corner of Fourth avenue and Fourteenth street, there were long lines of depositors drawing out their money as on Saturday, but the crowd was not so great. The number of callers amounted to about one hundred and dity, and the amount drawn out was less than $60,000 as against $200,000 on Saturday. At one o'clock a meeting of the depositors of the Teutonia Savings Bank was held in Concordia Hall, No. 28 avenue A. The meeting was well attended, over five hundred persons being present. All carried their bank-books, which served to gain admission. Francis Euring was elected chairman and Henry Gottlieb secretary. Mr. Euring made a long address in German, relating the circumstances of the bank's troubles. He said that the attorney of the bank had appeared before Judge Westbrook, at Hudson, and made no objection to the appointment of a receiver, admitting the bank was insolvent. He had left the whole matter in the hands of the Judge. The object of this meeting. said the speaker, was to appoint a committee of turee to wait upon Judge Westbrook and confer with him in regard to the selection of a receiver. One should be appointed. he contended, who understood the German language, as most of the creditors of the bank were Germans. A meeting of some of the larger depositors had been held on Saturday night, and they nad taken the liberty to telegraph to Judge Westbrook requesting him to delay the appointment of I receiver unail ne should hear from a general meeting of the depositors. A motion was made to appoint a committee of three for the objects named by the chairman, but an amendment was carried that a committee of seven should be chosen, The following persons were then nominated and unanimously elected:-Charles Boss, J. Dauscher, Felix Horn, J. H. Tamsen, Frank Selles, Joseph Brull and Charles Jung. Tue president of the meeting, Mr. Francis Euring, and the secretary, Mr. Gott. lieb, were afterward added to the committee as ex officio members. The depositors' meeting then adjourned. Immediately alter their adjournment the Committee of Seven met and appointed the following sub-committee to visit the Bank Superintoudent, at A1bany, and Judge Westbrook, at Hudson:-Charles Boss, chairman, J. Dauscher and Fenx Horn. They were instructed to ask for the appointment of a receiver who understands German and who would ne in the Interests of the depositors. They were also instructed to suggest the following named persons, any one of whom would be a receiver satisfactory 10 the deposItors:-General Unl; General Scowarzwaelder, President of the Germania Bank, and Michael J. Adrian, President of the German Exchange Bank. The subcommittee lelt for Albany last night at SIX o'clock. A RECEIVER ALREADY APPOINTED. That the above proceedings were somewhat blindly conducted may be seen by the following despacto, recelved last evening:RONDOUT, N. Y., April 29. 1878. Judge Westbrook, after hearing an order to show cause, has appointed Jamês D. Fish, President of the Marine Bank, receiver of the Teutonia Savings Bank.

20. September 24, 1878 Evening Star Washington, DC
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The receiver of the German Savings bank of Morrisania, N. Y., has begun suits against the trustees of the bank for the recovery of $230,000. Dr. Babcock, inventor of the fire extinguisher bearing his name, is a drunken outcast in Oakland, Cal. He was once moderately wealthy. Four democratic clerks in New Orleans, La., have been committed for trial before the U. S. court for refusing registration to a colored man. Thomas Wardlaw's body has been found in the woods near Musquash, N. B., with his skull crushed in. His wife and her paramour, Thomas Dowd, were arrested. Gilmore's 22d regiment band is expected to arrive in New York by the steamship Mosel, which is due next Thursday or Friday.

21. December 28, 1878 The New York Herald New York, NY
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PLEASANT FOR THE DEPOSITORS. THE OFFICE FURNITURE AND STATIONERY OF THE DEFUNCT GERMAN SAVINGS BANK DISPOSED OF FOR A SONG. A corkscrew and a revolver were put up at auction and sold yesterday in the building formerly occupied by the German Savings Bank, of Morrisania, of which Mr. Best is receiver. Other articles, too numerous to mention, were disposed of at the same time and place. Among other things, without which no financial institution is complete, the following may be quoted from the advertisement:-One counter, one money box, three slates, one table, one screen, one match box, five goblets, ten spittoons, two stoves." Together with the corkscrew and revolver already alluded to these various articles would constitute a tolerably fair outfit for a barroom, and a few half fed depositors who attended the sale yesterday were disposed to comment unfavorably on the coincidence. But then the bank building contained many things pertaining more strictly to the business once transacted within its walls, and these gave the premises an outward show of greater respectability. There were, for instance, twenty-six chairs, two benches, one table, three step ladders, a flag, a newspaper file, a directory and a map of the city, besides a variety of stationery. When the auctioneer took his elevated stand, a few moments after the stroke of noon, some thirty or more men were grouped before him. It was not difficult to detect, in the business-like severity of their countenances, a determination to buy or to die, and scarcely a single article offered for sale was allowed to go without competition. The liveliest bidding was on the counter, which, with its fixtures, fetched $132; a fair market price. A calendar was allowed to go for one cent and a second-hand broom for three. "Here you are," shouted the auctioneer, in stentorian tones; "here you are; a revolver, just as good as new, warranted to kill at twenty paces," and he flourished the deadly weapon in dangerous proximity to the heads of his hearers. The timid shrunk back in affright; but the auctioneer quieted their fears by taking the five-shooter to pieces and blowing through the empty chambers. Some one shouted "One dollar," more anxious to have the revolver put up than to carry it away himself. Ten cents more was the highest bid, and the spectators were next shown the corkstrew, which had been lying concealed on the stand. A suspicious looking cork, transfixed by the spiral instrument, occasioned a shout of laughter, which was redoubled when the auctioneer explained that it had just that instant been drawn from a bottle of pale ink. The earthenware spittoons brought about five cents a piece. A coal shovel was knocked down to a man who bid six cents, and the two scuttles together brought six times that amount. Pitchers, cups, basins, bowls, goblets, match boxes, dustpans, whisk brooms, paper files, pen racks, paper weights and paper cutters, all went for a tritle. Forty-two yards of carpet sold for $20; one stove brought about $3 and the other $2. Altogether the sale netted about $300. Two safes were to have been put up at auction in Bond street in the afternoon, but the sale was postponed till this morning. From these, it is thought, about $150 will be realized, 30 that the sale of furniture and stationery will add fully $450 to the funds already in the receiver's hands. Mr. Best said, last evening, that the prospects of a dividend had not materially changed since his report was made nearly three months since. The bank building and other real estate in Morrisania, beside a number of little houses in Melrose and West Farms were sold in November, and as soon as certain liens are removed by order of the Court, payments amounting to about $16,000, will be made for the property sold, and a dividend declared immediately thereafter.

22. March 8, 1879 New-York Tribune New York, NY
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A BROKEN BANK'S DIVIDEND. LETTER OF EXPLANATION FROM THE RECEIVER, WILLIAM J. BEST. To the Edrtor of The Tribune. SIR: In answer to inquiries from the depositors of the German Savings Bank of the town of Morrisania, I would state that I counted upon paying