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THE BANK HAS NOT SUSPENDED. STATEMENT OF THE PRESIDENT OF THE DIME SAVINGS INSTITUTION OF PLAINFIELD. Tothe EditorofTheTribune. Sir: I read with regret this morning in your paper an article referring to the Dime Savings Institution of our city, viz., Plainfield, N. J., in which you recite that the bank had closed. In other words, you would seem to indicate that the bank had become, as the saying might be, "bankrupt" from the calls made upon it by its depositors. Permit me to say that this is an entire misrepresentation of the condition of the institution. Recognizing the fact that during the month of July nearly one-sixth of the entire deposits of the bank had been withdrawn, while but a small amount of deposits had been made in the mean time, and in view of the course taken by the savings banks of the city of New-York, it became evident to us that we should take some course to protect the intelligent depositors of our institution. The managers of the bank met on Monday morning and simply availed themselves of the article of the bylaws which gave them the permission to require notice for further withdrawals of money. I am pleased to say that the bank examiner examined our accounts only a few days before and gave us what we had reason to expect-a proper certificate showing a very handsome surplus to the bank. In no wise has the bank closed, nor has it suspended, except so far as has been the course of the different banks in the State of New-York and other surrounding sections. I regret exceedingly that your paper should have published such a communication, which seems to be one written by some one who had not the desire to strengthen or support or defend the institution, but seems to have given you what might be his own peculiar personal ideas. Please bear in mind one thing: That often in receiving communications in reference to these matters, personal prejudice often enters into and takes a very large part of the communication sent to you, and which becomes a matter of publication by yourselves. I am happy to say to-day that the bank is in a first-class condition, with a very handsome surplus in proportion to its peculiar deposits, and will be prepared at the time at which its bylaws require to meet every obligation that may be called upon by its depositors. Regretting exceedingly that your journal, which we value very much, should have been the means of communicating what might seem to be an indication that our institution was not in good shape, and could not meet faithfully and financially all its obligations, I remain, very truly yours, JOHN W. MURRAY, President the Dime Savings Institution of Plainfield. The German-American Insurance Company, No. 115 Broadway, New-York, August 1, 1893. (The erroneous information was sent to The Tribune by the Union Press Exchange of this city. The Exchange was misled by an inaccurate correspondent in Plainfield.-Ed.)
