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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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NEW YORK. ARRIVED. New York, October, 25.-Samuel J. Tilden arrived to-day from Europe in the steamship Scythia. DIAMOND ROBBERY. New York, Oct. 25.-Fourth Officer Meyer, of the steamship Koeln, has been arrested on the charge of stealing from the store room of the vessel, a package of diamonds, valued at $11,000. THE SAVINGS BANK. New York, Oct. 25.-Tbe run on the Union dime savings bank continues. The improved arrangements enable 125 depositors to be paid each hour. Heavy depositors do not withdraw their funds.
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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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are failure of appetite, and the consequent steady weakening of thesystem. Yesterday and to-day the Senator has been drinking very freely of rich milk, and Dr. Bliss is greatly encouraged. This will impart strength, and the beginning of the return of his appetite. The Run on a New York Savings Bank-Commencement of con. nolly's Trial. NEW YORK, Oct. 24. The run continues on the Union Dime Savings Bank, payments of one hundred dollars and less being made. Twenty seven thousand dollars were paid out yesterday. It is reported that if the run is not soon checked the National Banks will unite in measures for the protection of savings banks. A struck jury has been ordered in the suit of the State against 6X Comptroller R. B. Connolly for ten million dollars. A Swindler Held to Bail in Boston. BOSTON, Oct. 24. Chas. S. Garniss, of Garniss & Co., dealers in dyes, indigo, etc., is held in thirty thousand dollars' bail on a charge of cheating the Collateral Loan Company out of three thousand dollars. Garniss' operations consist of obtaining loans on indigo by false invoices. Indicted for Fraud. CINCINNATI, Oct. 24. Byron H. Rabb was yesterday indicted by the GrandJury for using the mails to carry on a fraudulent scheme. Rabb is the manager of the United States Secret Service Company, Monifor Manufacturing Company and the Queen City Glass and Lamp Company. Another Bank Suspension. ST. LOUIS, Oct. 24. The Bunker Hill Bank, nt Bunker Hill, Illinois, closed on Monday last. The liabilities to depositors are said to be $60,000. Charges of the misapplication of funds is alleged as the cause of the suspension. A New King of the Turf. PIMLICO, Md., Oct. 24. In the third race of two and a half miles, Parole was the winner; Tenbroeck second, Ochiltree third. Time, 4373/4.
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# MINOR TELEGRAMS. Gen. Grant declares that silver remonetiza- tion is a form of repudiation. Speaking of his reception in England he said nothing could be more kind, considerate and gracious. The wife of Berry, the Union Pacific railroad robber, killed by Sheriff Glascock of Fayette county, Mo., sues the sheriff for $20,000 dama- ges, alleging that he deliberately shot Berry while the latter was lying asleep. Mr. Ross has thoroughly investigated the Richmond, Indiana, case, and says the Moffitt boy is not Charlie Ross. A Bismarck, Dakota, despatch reports that the President and his secretary, Rodgers, have bought real estate near Bismarck and a favor- ite endorsement of the Northern Pacific exten- sion scheme is now confidently expected. The surveyor and collector at Bismarck is Rodgers' brother-in-law. Gov. Tilden, Bigelow and Hewitt arrived at New York from Europe yesterday. Theodore J. C. Meyer, a native of Hamburg, was committed to jail in New York yesterday on charge of stealing diamonds. Ephraim A. Durban, a lawyer of Kingston, N. Y., plead guilty yesterday to embezzling pension money. Several official journals announce that the Reichstag will be called together sooner than usual on account of the unquiet state of France. Receipts of internal revenue yesterday $261,- 903. The run on the Union Dime Savings Bank was continued yesterday, but the examiner says it is perfectly sound. An inch of snow fell in Ottawa yesterday. Snow also fell in Quebec and Montreal. Lyman Peck was committed yesterday at South Royalton, Vt., to await trial at the coun- ty court, for breaking into the bank of Royal- ton Oct. 8, after being acquitted of robbing the mail Sept. 14. The trial of Mrs. Evans at Riverhead, L. I., yesterday for the murder of J. Poyutz, resulted in her acquittal. John Lowery, keeper of the insane at Ward's Island, was yesterday convicted of cruelly beating a patient and sent to the penitentiary for one year. Three people were shockingly gored by a mad bull in New York yesterday and a man was shot in the chin by a bullet intended for the bull. It is stated that many shipowners in New York are intending a movement for the repeal of existing navigation laws and for free trade in ships. R. L. Woolcott of 134th street, Brooklyn, re- ports that one Swett, editor of a penny paper in that city, offered to support the claims of Mr. Henry for Mayor for $500. By the burning of the chemical works at East Haven, Ct., yesterday, $50,000 worth of property was destroyed. There were nine new cases of yellow fever at Fernandina Wednesday night, all colored. No deaths. In the case of P. W. Elder and Thomas S. Creider at Philadelphia for abetting Theodore Hand in the embezzlement of $12,000 from the office of receiver of taxes, jury rendered a ver- dict of guilty.
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FOREIGN.-The situation in France is unchanged. An Anglo-American treaty regarding trademarks and labels has been signed. General Grant visited President MacMahon at the Elysce. General Ghourko has, after despeyesterday. rate fighting, acquired a position on the Sophia, south-west of Plevna. A Russian attack on Rustchuk has been repulsed. DOMESTIC.-The President and Cabinet will be publicly entertained in Richmond three days Pennsylvania Republicans, innext week. cluding Governor Hartranft, conferred with the President yesterday ou political topics; explanations were made as to the Civil Service order. The Commission on Fire Proof Buildings reports that a special structure for archives is needed; a new building for the Naval GovObservatory is also said to be necessary. ernor McCormick silences the story about Stanley Matthews's board bill in Washington by a statement Mr. Cameron will probably not of the facts. The Probe appointed to the English Mission. testant Episcopal General Convention adjourned after a session of twenty days. CONGR ss.-In the Senate a remonstrance from New-York merchants was presented against the repeal of the Bankrupt law. Bills were introduced resstablishing the Alabama'Claims Commission, and In the to prohibit gambling in the army. House, the Colorado contested election case was referred to the Committee on Elections. Petitions were presented: from colored men, asking for assistance in emigrating to Liberia, and from laboring Both Houses adjourned men, asking for relief. until Monday. CITY AND SUBURBAN.-Messrs. Tilden, Bigelow and Hewitt returned from Europe yesterday, and TamMr. Hewitt talked freely about politics. There many Assemb ymen were nominated. are obstacles to combining against Tammany in Montelair and Greenwood Bome districts. Lake bondholders and stockholders fear a foreclosure. Adams and Leary were recognized as having participated in two large robberies. The run on the Union Dime Savings Bank was pracThetestimony in the Hasslacher tically closed. Measures were taken divorce case was closed. to punish those pretending to sell police positions. E. F. Price attempted to drown himself. A escaped bull tossed and trampled upon several Applications are coming in rapidpeople. ly for space for American exhibits at Paris. Ex-Judge Robertson was renominated in the 1Xth Senate District yesterday. Gold, 1023, 10234, 10234. Gold value of the legaltender dollar at the close, 97310 cents; of the silver dollar, 97 cents. Stocks buoyant and active, closing excited. THE WEATHER.-TRIBUNE local observations indicate increasing cloudiness, preceding rain. Thermometer yesterday, 56°, 71°, 62°.
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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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The Union Dime Savings Bank of New York has stood the run, which appers to have stopped, The deposits wereso large that if 125 average depositors were paid each hour for six hours each business day the money on hand would last six months.
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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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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
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UNION DIME SAVINGS BANK. PRESIDENT BRITTON EXPLAINS WHY THE MORTGAGE LOANS HAVE BEEN REDUCED-SPECIAL EXAMINER BEST'S OPINION. For au hour aiter the doors of the Union Dimo Savings Bank were opened yesterday morning, that is to say, between ton and eleven o'clock, there were numerous demands !or money by depositors, and several of the clerks had about as much business on their hands as they could well dispose of. From eleven o'clock until three o'clock the closing hour, there were comparatively few callers ut the paying teller's window at any one time, while, on the contrary, many were present making deposits. The amount withdrawn from the bank during the day was less than one-nali of the sum paid over the counter on Monday. "As compared to that of yesterday" (Monday), said Mr. John W. Britton, the president, "the number of draits drawn upon us to-day (Tuesday) is sixty per cent less, and the amount drawn a little over fitty per cent less." The president felt that there IS not the slightest cause for alarm regarding the solvency of the bank, view its affairs in any shape the public choose to. "The bank is all right," he said, emphatically, "and so soon as the nervousness of some of its depositors wears away there will be no further trouble whatsoover, or, at leasi, I apprehend none.' REDUCING THE MORTGAGE LOANS. When President Britton was asked to explain the reasons of the bank officials in reducing its loans, that gentleman handed the HERALD reporter the 101lowing communication, with the remark, "This will explain everything":UNION DIME SAVINGS BANK. NEW YORK, March 12, 1878. To THE EDITOR or THE HERALD:The assignment of several mortgages by this institution during the past two months has been commented upon by the press in a manner implying tinal the bank has in some way sacrificed the interests of 168 depositors. In order that this wrong impression may be corrected permit me to state than for all mortgages assigned by this bank it has recelved full payment ot the sums actually due upon them. with interest to the day of payment, and free of costs or charges. Where it appears in certain cases that mortgages have been assigned for u loss sum than the original amount of the loan, it is because part payment of the principal has been mude by the mortagor and does not appear in the urtietc of assignment. In order to comply with the law governing the savings banks of this state the new management of this bank took measures early in January to reduce its mortgage loans by assignment, believing this method would occasion less embarrassment to mortgagors than the more common custom in such cases of demanding payment. which in many cases would cause serious loss to those holding our loans. Permit me to add that the trustees. in assuming control of this bank. and positive personal knowledge of its entire selvency. derived from is careful examination of its assets and general affairs, and the principal officers. selected from their own number. to direct its daily business and carry out the economical policy adopted by the Board, embracing a reduction of he salary list more than filty per cent. are devoting their time and energies, without pay or reward. to the best interests of an institution which they know to be worthy of public confidence and which they believe will in good time resume its old place among the best savings banks of the country, and to this end they ask the support and good will of the general public. JOHN W. BRITTON, President. SPECIAL EXAMINER BEST'S OPINION. Special Examiner Best was subsequently called upon and his opinion requested relative to the reduction of the bank's loans on mortgages. Mr. Boat promptly said "The management of the bank in respect to those mortgages 18 a wise thing, and 1. not only heartily approve of 11 as a good business policy, but recommended it, and," continued Mr. Best, 1 have a very high opinion of the mon now at the head of affairs in the Union Dinne; as they have been and are making an honest, intelligent and conscientious effort to undo the mistakes of their predocessors.