Article Text
THE SAVINGS BANKS UNHARMED. SEVERAL TEMPORARY RUNS-GENERAL RESTORATION OF CONFIDENCE. Among the savings banks there was little variation in yesterday's business as compared with that of Friday, Saturday, and many previous days. A few of them alone experience anything like a run upon their deposits, and these not to such an extent as to excite anyapprehension as to solvency. All were seemingly prepared for the worst, and were most agreeably disappointed as the day passed on without any invasion of moment upon their cash assets. In anticipation of a general run, members of the police force had been assigned to duty in the different savings banks, and most of them had an easy task. The German savings banks were particularly quiet, a president in one instance informing a reporter that his bank had money on hand for any of his neigh bors who might be pressed. At number of the banks the rule requiring notice of the withdrawal of deposits over a stated sum was strictly enforced, the amount varying, and it is a somewhat singular fact that those meeting all demands were the only ones, with one or two exceptions, upon which there was any considerable run. EAST RIVERSAVINGS BANK. At the East River Savings Bank, on Chambers-st there was no variation in the usual business of the day President Whitney stated that during the morning a number of deposits had been withdrawn. and likewise a large number received, in neither case to such an ex tent as to excite comment. He knew nothing of the action taken by some of the savings banks' officers Sunday evening, and could not agree with them that any particular distinction at this time should be made in the withdrawal of deposits. His bank was paying all demands without regard to notice given. EMIGRANT INDUSTRIAL SAVINGS BANK. At the Emigrant Industrial Savings Bank a considerable amount of money was withdrawn during the day. Soon after the opening of the bank a large number of the depositors assembled, and the line formed to the paying teller's windows found constant accessions during the day. Controller David Ledwith stated that they were meeting all demands without regard to amount or notice, and apprehended no difficulty in continuing to so. Indeed, the present run was not 80 extensive as they had anticipated and had made preparations for. They were led to believe that it would be of short duration. The bank statement of Jan. showed an excess over liabilities of $790,129 The majority of those closing their accounts had comparatively small deposits, 80 that the amount paid out was not large. ATLANTIC SAVINGS BANK. At the Atlantic Savings Bank, on Chatham-st. there was no excitement; still. as a precautionary move, the officers have adopted the plan of requiring sixty days' notice in the withdrawal of all sums of over $100. CITIZENS'(SAVINGS BANK. The Citizens' Savings Bank experienced something of a run during the earlier port of the day. but before closing this had almost entirely subsided. They are paying all demands under $1,000. requiring notices for larger amounts. Those in the line early in the day were mostly new depositors, the older and heavier ones having perfect confidence] in the bank. President Quintard remarked, as an evidence of the class now withdrawing their deposits, that up to p. m. probably not more than $25,000 or $30,000 had been paid over the counter. He was satisfied that no extensive run need be anticipated, but was well prepared to meet all demands. ORIENTAL SAVINGS BANK. Everything was as quiet as usual at the Oriental Savings Bank, on Grand-st. President Buckmaster stated that many had visited the bank during the day to make inquiries as to their deposits, and had departed satisfled of their security-many, perhaps, coming with the intention of drawing, and returning with only such as they required for use. In such cases no advantage was taken of the law requiring notice of such intention. As evineing a general confidence in the institution, the cashier stated that a number of new accounts had been opened during the day, and that no inconsiderable amount had been received on deposit. BOWERY SAVINGS BANK. Before the opening of the Bowery Savings Bank it was evident that a run was to be made, from the erowd of depositors that gathered around the doors. The trustees met and decided to pay all claimstor the present, believing that the run would not last long and not interfere with,the regular business. It was understood that should it continue, they should take advantage of the 60 days' notice, even then using their own discretion in the matter, and paying larger claims, to relieve suffering or inconvenience. Throughout the day and evening the steady run continued, the number at no time greatly crowding the bank. One by one they drew their deposits, losing nearly three months interest by doing 80, 80 that they alone are the losers and the bank is in no way inconvenienced. A very great many before long were convinced of this fact, returned to the bank and again deposited their money, begging that their interest might not be sacrificed. An instance of this kind was mentioned by the President. Early in the morning a woman drew about $3,000, the earning of many years. Her anxiety to withdraw it was hardly equaled by her anxiety to return it a little later, and the loss to her of the $85 interest affected her very much. The scene deterred many from following her example. The President further stated that the majority of the deposits drawn were of small amount, and that the smaller the amount the more auxious the owners seemed to be to get it, so that up to 2 o'clock in the afternoon not more than $200,000 had been paid out, and in the same proportion during the afternoon and evening. The bank had more tban 60,000 depositors. He did not anticipate any extensive run. NEW AMSTERDAM SAVINGS BANK. The New-Amsterdam Savings Bank has experienced no run from its depositors. Yesterday was a quiet day at the bank, though considerable deposits were received. President Frohwein stated that they are more fortunate than a majority of the banks in having an abandance of small bills. having $116,000 in the safe. They proposed to help the neighboring banks as far as they could, and had already done so by furnishing one that morning with $20,000 in bills on bond security. MECHANICS AND TRADERS SAVINGS' BANK. At the Mechanics' and Traders' Savings Bank it was stated that some accounts had been closed during the day. and perhaps $20,000 drawn while the average deposits had been received. There had been no run sufflclent to excite comment. NEW-YORK SAVINGS BANK. The New York Savings Bank on Bleccker-st. was surrounded by an anxious crowd of depositors from the opening of the doors in the morning. o'elock the doorewere closed, the officers deeming that there were then as many in the building as they could pay during banking hours. Probably nearly 100 were then in walt ing. Little information could be gained, further than that considerable money had been withdrawn, and also many deposits received. The officers anticipate DO trouble in meeting all demands. PEOPLE'S SAVINGS BANK. At the People's Savings Bank the cashier stated that one or two large demands had been made, in which cases they had taken advantage of the rule requiring notice. In small amounts, $3,000 or $1,000 had been drawn, and more than made up by deposits. MANHATTAN SAVINGS BANK. At the Manhattan Savings Bank a long line of depositors presented themselves in the morning desirous of drawing out their money, but the bank readily met Nee Fourth Page