16329. National Savings Institution (New York, NY)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
savings bank
Start Date
November 18, 1871
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
83013bfa

Response Measures

Full suspension

Description

Multiple contemporaneous reports (Nov 18-20, 1871) describe a run on the National Savings Institution tied to the Tweed/'Ring' scandal and speculative losses. The bank closed/was reported unable to stand the pressure (suspension) in mid-November and a receiver (Edward Schell) was appointed on Nov 20. Newspaper accounts then report the National resumed payment (reopened) on Nov 20. Cause assigned as bank-specific adverse information (mismanagement/speculation and Ring connections).

Events (4)

1. November 18, 1871 Run
Cause
Bank Specific Adverse Info
Cause Details
Run triggered by revealed connections to the Tweed 'Ring', mismanagement/speculation by officers (losses tied to Hannibal & St. Joseph stock, Tweed family on board).
Measures
Officers publicly stated depositors would be paid and arrangements made to meet extraordinary drain; directors/private individuals supplied funds/collateral to satisfy claims.
Newspaper Excerpt
An extensive run on the Bowling Green Savings Bank to-day ... The National Savings Bank is also reported to be unable to stand the pressure, and has closed its doors before the end of business hours.
Source
newspapers
2. November 18, 1871 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed/was unable to meet demands because of heavy withdrawals tied to alleged mismanagement/speculation and association with Tweed interests; contemporaneous suspensions of other 'Ring' banks contributed to loss of confidence.
Newspaper Excerpt
The National Savings Bank is also reported to be unable to stand the pressure, and has closed its doors before the end of business hours.
Source
newspapers
3. November 20, 1871 Receivership
Newspaper Excerpt
Edward Schell has been appointed receiver of the National Savings Bank, who will take possession to-day. The receiver-ship in the case of the National Savings Bank has been raised, and the institution was paying its depositors to-day.
Source
newspapers
4. November 20, 1871 Reopening
Newspaper Excerpt
The National Savings Institution ... suspended on Saturday, reanmed payment yesterday, and the Receiver appointed was discharged by Judge Barnard. During the morning a large number of depositors withdrew their deposits, better paid without hesitation.
Source
newspapers

Newspaper Articles (20)

Article from New Orleans Republican, November 19, 1871

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NEW YORK. Brooklyn Election Returns in Court-Eu on the Bowling Green Savings BankGovernments Very Firm-Weekly Bank Statement. NEW YORK, November 18.-Judge Gilbert denied the application to compel the Brooklyn board of canvassers to reject the returns of certain districts in Brooklyn. An extensive run on the Bowling Green Savings Bank to-day was caused by its rumored connection with the Guardian Savings Bank. Evening.-The bank statement shows: Loans increased $1,500,000; specie increased over$2,250,000; legal tenders incr eased over $3,250,000; deposits increased nearly $5,000,000. Money easy at 5@6 per cent on call loans, with exceptions at 3@4' at the closing. Sterling exchange firm, 94694. Gold 111@1111. Governments very firm; Sixes of 1881, 117%; five-twenties of 1862, 111%; 1864, 111 1/2; 1865, new issues 11416; 1867, 114 % 1868, 115; ten-forties, 110. State bonds inactive; old Tennessees steady, 66 1/2, new heavy, 66; Virginias stead, old 59 1/s; new 67; North Carolinas firm. old 38% new 1914; South Carolinas, old 72, new weak, 27 1/2; Louisianas old 65, new 55; levee sixes 68, eights 75; Alabama eights 98, fives 65; Georgia sixes 80, sevens 86. Patrick Barry died yesterday from eating herrings brought from London on the steamship Devonter, which had become impregnated with arsenic, which was part of the cargo. The health authorities are investigating the case. The Catholics at Hunter's Point threatened violence against the public schools in the first ward of that place, on account of the Bible being read there. The police were yesterday detailed to protect the building. Notice has been given that the painters, bricklayers, housesmiths, stairbuilders and joiners' unions will withdraw from the Workingmen's Union, as the latter is being used mostly to advance the interests of politicians. There was a heavy run on the National and Bowling Green savings banks to-day, the latter of which Henry Smith, police commissioner, is president, suspended payment at three o'clock in the afternoon, having exhausted its capital, $60,000. Its officers claim that at the end of sixty days the bank will be able to meet all demands. The National Savings Bank is also reported to be unable to stand the pressure, and has closed its doors before the end of business hours. It is rumored there will be a run on other banks Monday. The Guardian Savings Bank, William M. Tweed, president, previously reported suepended, has its portals barred, and all entrance to the building is denied. Arrived: Steamer City of Brussels, City


Article from Nashville Union and American, November 19, 1871

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The run on the Bowling Green Savings Bank caused suspension at 2 o'clock this afternoon. The officers of the bank say that at the end of thirty days it will be able to meet all demands. It is reported there will be a run on other banks Monday. The National Savings Bank also suspended today, making three in all. There is considerable excitement about the Guardian Savings Bank to-day. The depositors were assembled in large numbers around the bank, though no demonstration was made. The friends of Tweed tried to pacify the crowd by saying it would resume Monday. Prominent Tammanyists have official connection with all three of the suspended banks, Tweed being President of the Guardian Bank, and Police Commissioner Henry Smith of the Bowling Green Bank.


Article from The New York Herald, November 19, 1871

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The Savings Banks Troubles. The suspension of the Guardian Savings Bank, which was controlled almost entirely by the capitalists of the "Ring," and of which William M. Tweed was President, is a natural result of the collapse of the "Ring" itself, and also goes to explain the run which commenced yesterday on the Bowling Green Savings Bank-an institution near of kin to the "Boss' own, and on the National Savings Institution, which has been luckless enough to have a Tweed (Jr.) among its directors. There is no need to feel any uncertainty in regard to the great majority of our savings institutions, for they are, as a rule, honestly controlled and are considered perfectly sound. The Guardian and Bowling Green are the only ones that have an acknowledged affinity with the "Ring" management, and they doubtless feel now that a good name 13 better than silver or gold. It is to be earnestly desired that the laboring men whose bread and meat depend upon the little sums they have deposited in these concerns may suffer no loss. Nothing that bas yet been proven against the "Ring" managers will go so far to render the lower classes indignant as to thus bring "Ring" rascality to bear directly on their own slim pockets. Better that every man of means in the directory of these banks sacrifice his whole fortune than that these worthy and needy depositors go unpaid.


Article from The Portland Daily Press, November 20, 1871

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BY TELEGRAPH t TO THE DAILY PRESS. NEW YORK. f Arrival of the Grand Dake Alexis. NEW YORK, Nov. 19.-Alexis has arrived. The Russian Irigate Suetland, Capt. Kremer, S Vice Admiral Possiet chief of squadron, anchored off the lightship shortly before midnight Saturday. She is of 3090 tons, mounts 10 guns and has 360 horse power. She left Madeira Oct. 10th and experienced strong head b winds and heavy seas nearly the whole passage. The crew received with loud cheers the news of the safety of her consorts already in 3 the harbor. The Ring and the Banks. NEW YORK, Nov. 19-The trouble in the Guardian Savings Bank is said to be owing to the withdrawal by Tweed of a large amount of city and county funds deposited there, rendering the bank unable to cash a check for $70,000 1 preseuted Friday. The bank has been placed in the bands of A. J. Rogers, public administrator. It long been knewa as Tweel's bank, its executive committee being Owen W. Brennan, E. C. Wilbour. James H. Ingersoll, G. Putnam and T. BrennanThere was an extensive run on the Bowling Green Savings Bank yesterdav, caused by a rumored connection with the Guardian Sava ings Bank. b A later dispatch says that speculation ia ta Hannibal and St. Josepb Railroad stock by the officers and the odium of a connection to with the Ring have been the causes of the susfl pension of the Bowling Green Savings Bank. The bank will be able to meet its liabilities 8 after a while. Mr. Lowe is said to have been appointed receiver. The depositors are mostly bl poor peop'e. The officers of the National Savle idgs Bank, which has had a run, say that it is d all right. Richard M. Tweed is a director. It p is also reported that the Yorkville Savings 1 Bank has borne a heavy run and that the assets are entirely insufficient and a crash is inevitable. The officers contradict the statement. p Reception of Alexis. 20 b The reception of Alexis takes place to morh row uuless it is stormy. The committee will SI start at 10 'clock in the forenoon on the steamer Mary Jewell, and expect to reach battery on bl their return with the Grand Dake about two 3 in the aftetnoon, and will proceed thence in W carriages to the Clarendon Hotel. Gen. Shaler ir has ordered the first and section divisions of the national guards to assemble at 1 30 p. m. Further Particulars. 11 We are indebted to the Tribune for the following: The Russian frigate Suetland entered the lower bay at noon. attended by the revenue en cutter Northerner. Approaching the AmeriU 0 can squadron at Horse Shoe she fired a nationU a salute of 21 guns, which was quickly reU sponded to by the Congress, Severd, IrequoU quois and Kansas, each vessel dipping her colU The ors as she passed to her anchorage. U Grand Dake appeared on deck and bowed reU peatedly to the salutes of the American officers C Admiral Rowan was received with all the honors on the Suetland. The frigate met with St a storm off Hatteras on the 10 b, which lasted W P: till Friday night when an observation showed N her to be 40 miles off Cape May. Now for Jenkins. E E Alexis was dressed in the simple uniform of H a Lieutenant. He is tall and strongly built H and has the air of a gentleman. He is of clear R complexion, has light blue eyes, speaks EngM lish quite fluently, but appears to prefer L French. it Various Matters. di OF Applications were made at the British ConCI sulate yesterday by three naturalized citizens CI for permission to resume their allegiance to M Creat Britain. Pi Ex-Attorney General Hoar left yesterday for Washington. ci: Oe The Williamsburg Mormon Church is breakU ing up. Most of the leaders have gone to Utah. U Mrs. Allen Young, said to be a victim of an U abortionist named Palmer, of Williamsburg, 0 was found in Broome street last night in a critical condition and sent to the hospital. e


Article from Evening Star, November 20, 1871

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The Bursting of the Ring Banks in New York. Tweed Puts in His Usual Piea of Innocence. NEW YORK, Nov. 20.-Wm. M. Tweed denies that he is connected with the Bowling Green Savings Bank. He admits being president of the Guardian Savings Bank, but has nothing to do with its management. He says its vice president has placed $300,000 worth of real estate at the command of the bank to enable it to meet its engagements. H. Smith, vice president, of the National Savings Bank, states that all demands will be promptly met to-day. NEW YORK, Nov. 23.-The Times says: "Edward Schell has been appointed by Judge Barnard as receiver of the National Savings Bank, who will take possession to-day. It is believed this bank, the Guardian and Bowling Green banks will meet all the claims of their depositors, but it doubtful if either resumes business again.


Article from The Daily State Journal, November 20, 1871

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LATEST NEWS. FROM NEW YORK. New York, Nov. -There was a run on the National and the Bowling Green Savings banks to-day. The latter, of which Henry Smith, the police commissioner, is president, suspended payment at 2 o'clock P.M., having exhausted its capital of $50,000. Its officers claim that at the end of sixty days the bank will be able to meet all demands. The National Savings bank is also reported to be unable to stand the pressure, and to have closed its doors before the end of business hours. There will be a run on other banks on Monday. The Guardian Savings bank, previously reported suspended, has its portals barred, and all entrance to the building is denied. Notice has been given that the Painters' Bricklayers', Housesmiths', Stair-builders and Joiners' unions will withdraw from the Workingmen's Union, as the latter is being used mostly to advance the interest of the politicians. Judge Gilbert has denied the application to compel the Brooklyn Board of Canvassers to reject the returns of certain districts in Brooklyn. New York, Nov. 19. A special detective of the United States sub-Treasury left for Europe to secure the arrest of Andrew J. Garney. One "cholera death to-day at Quarantine. Forty cases remain. All of which are doing well. Arrived, "Herman Livingston" and the Russian frigate "Swetland" with the Grand Duke Alexis on board. New York, Nov. 19.-The - Sunday Herald says the primary cause of the suspension of the Bowling Green Savings Bank is said to have been the loss of a quarter of a million of dollars in Hannibal and St. Joseph stock, in which the officers and directors are alleged to have speculated with its frauds. Mr. Selmes, its secretary, stated last evening that they would not be able to open the doors soon, if at all. He says the liabilities and assets are each about half a million, and that the bank will be able after awhile to meet every obligation. They have ample securities, but have been obliged to bear the odium of connection with the ring for three months, and to raise money had to sell securities at a heavy discount. New York, Nov. 19.-Richard Tweed retires from the Metropolitan Hotel December 1st. Applications were made to the British Consulate yesterday by three naturalized citizens for permission to resume their allegiance to Great Britain. The Williamsburg Mormon church is breaking up. Most of the leaders have gone to Utah. The Episcopal church, corner of One Hundred and Twenty-seventh street and Fourth avenue, was burned last night.The loss is small, as the building was of wood.


Article from The Wheeling Daily Intelligencer, November 20, 1871

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BOWLING GREEN BANK SUSPENDED. Therun on Bowling Green Savings Bank caused a suspension at 2 o'clock this afternoon. The officers of the bank say that at the end of sixty days it will be able to meet all demands. OTHER BANKS THREATENED TO-DAY. It is reported that there will be a run on other banks Monday. A THIRD SUSPENSION. The National Savings Bank also suspended to-day, making three in all. EXCITEMENT ABOUT TWEED'S BANK. There was considerable excitement about the Guardian Savings Bank to-day. The depositors were assembled in large numbers around the bank, though no demonstrations were made. The friends of Tweed tried to pacify the crowd by saying that the bank would resume on Monday. Prominent Tammanyites have had official connection with three of the suspended banks, Tweed being President of the Guardian Bank, and Police Commissioner Henry Smith, of Bowling Green, in the office. SMALL-POX. / Nine new cases of small-pox are reported to-day. This makes thirty-nine cases since Saturday last. QUARANTINE CHOLERA. The cholera at Quarantine is now supposed to have been subdued. No deaths have occurred since Thursday. The Humboldt, of the same line as the Franklin, expected to arrive on Tuesday. it is feared, will have a portion of the disease on board.


Article from The Wheeling Daily Intelligencer, November 20, 1871

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now bosed to have been subdued. No deaths have occurred since Thursday. The Humboldt, of the same line as the Franklin, expected to arrive on Tuesday, it feared, will have a portion of the disease on board. WHY ALEXIS DON'T COME. It is said at Quarantine that the real cause of the delay of Prince Alexis' arrival, is owing to the fact that, as there cholera in Russia, it was deemed advisable to take a migratory course and visit Maderia and other Southern climates before proceeding. A CONFESSION OF FRAUD. An elected Inspector of Brooklyn named Weldon pleaded guilty to the charge fraud, and gives bail in the sum of $2,100, the amount asked by the Grand Jury. DIDN'T DIE OF HERRING. The man who was reported to have died from eating poisoned herring, is now said by the coroner's jury to have died appoplexy LATER CONCERNING THE BOWLING GREEN BANK. NEW YORK, November 19.-The Sun day Herald says the primary cause of the suspension of the Bowling Green Savings Bank is said to have been the loss of quarter of a million dollars in Hanibal & St. Joseph stock, in which the officers and directors, it is alleged, speculated with its funds. Wm. Selmes, its Secretary, stated last evening that he would not be able to open the doors soon, it at all. He says the liabilities and assets are each about half a million, and that the bank will be able after a while to meet every obligation, and have ample securities. They have been obliged to bear the odium of connection with the Ring for three months, and to raise money they had to sell their securities at a heavy discount. Mr. Tone is said to have been appointed receiver. The World says that Judge Hogan, who is one of the directors of the bank, said last evening that unless there was fraud there could be no serious trouble result. If there was fraud, he would not be sorry to see the guilty man strung up to a lampapost, And the poor, whose hoarded dollars were taken from them, would be likely to take the law into their own hands. The Judge never attended a meeting of the Board, though nominally an officer. The Secretary and Walter Roche, however, assured him that all was right. THE NATIONAL SAVINGS INSTITUTION The officers of the National Savings Institution, corner of Houston and Broadway, of which John McBride Davidson, the ring's safe man is President, deny that it has suspended, and say that it will open Monday, prepared to pay all demands, and that every depositor is secured. Ar rangements have been made to meet an extraordinary drain. Richard M. Tweed is one of the trustees. ANOTHER BANK TOTTERING.' Rumor last evening said that the York ville Savings Bank, of which Henry W. Genet is President, had borne a heavy run; that its assets were entirely insurficient, and a crash is inevitable. The depositors are mainly of the poorer classes. The officers of this institution say there was no run upon it that its deposits are under $100,000 that its directors are men of wealth, and liable to make good any deficiencies in the event of such an unlooked for circumstance as insolvency. They repudiate any connection the ring. TWEED JR. RETIRES FROM THE METROPOLITAN. Richard Tweed retires from the Metropolitan Hotel on the 1st of December, and M. W. Wilkinson takes his place. VIADUCT RAILWAY. The Viaduct Railway Company will be organized next Wednesday. Fifteen out of the twenty-five directors have resigned, and their successors are to be men disconnected with the ring and the city government. Commodore Vanderbilt mentioned as one of the new members. Efforts have been made to have Sweeney remain, but he positively declines. Tweed and Connolly are certainly out. It is believed that the plans for building the new road are unendangered. The Russian clipper Abreck came to the upper quarantine yesterday. The Sultana is to be promptly inspected by the Health Officers. Application was made to the British consulate yesterday by three naturalized citizens for permission to resume allegiance to Great Britain. The Williamsburg Mormon Church breaking up, and most of its leaders have gone to Utah. St. Andrew's Episcopal Church, corner of 27th street and Fourth avenue, was burned last night. Loss $12,000. The jewelry store of J Brennan, in Maiden Lane, was robbed yesterday of $2,500 worth of diamond rings by sneak thieves. Mr. Allen Young, said to be the victim of an abortionist named Mrs. Palmer, of Williamsburgh, was found in Broome street last night, in a critical condition, and sent to a hospital The American Girl beat W H. Allen Fleetwood yesterday, in a deferred heat of Nov. 13th, in 221. Judge Dowling has sentenced two proprietors of Keno establishments each to six months in the penitentiary and a fine of $250. Mrs. Ann McClellan a Chicagosufferer applied for lodging at the police stati Astoria, last night. She kept a boarding house at Main and Market streets, in Chl cago, where she was in comfortable circumstances, but lost everything by the great fire. She has made her way East in search of friends. NEW YORK, Nov. 18. Evening.


Article from The Wheeling Daily Register, November 20, 1871

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The loss by the burning of the Episcopal church on One Hundred and Twenty-seventh street last night will reach $20,000; insured for $12,000 in the Central and Hope companies. The fire is supposed to have originated from the furnace used for heating the church. The arrival of Alexis at the unseemly hour of one o'clock Sunday morning was very unfortunate for reporters and the committee of Reception. The Russian Minister and committee of Reception knew nothing of the arrival of the Prince until 8 A. M., when the news created great excitement at Clarendon Hotel. The Russian Minister immediately hired a tug and proceeded down the bay, and has taken up his quarters since on the frigate. The committee of Reception are somewhat disorganized by the suddenness of the arrival, and if the reception takes place to-morrow morning it will not be so grand as if less hurriedly prepared. The Prince will come up at daylight in the morning, but will not land till about 2 P. M. The regular programme for his reception, which has been already published, will then be carried out. The Commander in Chief of the National Guard has issued a notice ordering the troops previously selected for the occasion to be ready and form in line at 1:30 P. M. for the reception. The Prince will, it is believed, remain over night in this city and depart for Washington early Tuesday morning. It is generally believed that the assets of the Guardian and Bowling Green Savings Bank, which suspended last week, will prevent any loss to the depositors. Rumors having been circulated that the National Savings Bank, 609 Broadway, has suspended. The Directors have published a card denying the rumors, and stating that all the depositors will be paid in full on presenting their book.


Article from The Daily Dispatch, November 20, 1871

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Affairs In New York. NEW YORK, November 18.-There was a run on the Nationaland the Bowling Green Savings Banksto-day. The latter, of which Henry Smith, the police commissioner, is president, suspended payment at 2 o'clock P. M., having exhausted its capital of $50,000. Its officers claim that at the end of sixty days the bank will be able to meet all demands. The National Savings Bank is also reported to be unable to stand the pressure and to have closed its doors before the end of business hours. There will be a run on other banks on Monday. The Guardian Savings Bank, previously reported suspended, has its portals barred, and all entrance to the building is denied. Notice has been given that the painters, bricklayers, house-smiths, stair-builders and joiners unions will withdraw from the Workingmen's Union, as the latter is being used mostly to advance the interest of politicians. Judge Gilbert has denied the application to compel the Brooklyn board of canvassers to reject the returns of certain districts in Brooklyn.


Article from The New York Herald, November 20, 1871

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TAMMANY BANKS. What the Public Think and What Depositors May Expect-The National Savings Institution in Particular. The publication in yesterday's HERALD of the particulars respecting those shaky institutions calied savings banks, as created and promoted by the gentlemen who lately so admirably managed municlpal matters in this city, has, very naturally, caused all a tremendous excitement among classes of the community, and If anything was wanting to sink them deeper in the foul abyss into which they have plunged themselves it was this-the misappropriation of the hardearned savings of the industrious classes and future sustenance of widows and orphans-and this only. that was capable of doing it. The frank and open statement made to our reporter and published in our last issue by the Vice President of the National Savings Institution, at the corner of Houston street and Broadway, Mr. Henry Smith, appears on examination not to be what he claimed for it; and while stating that the bank was prepared to open on Monday morning and pay all demands he must have been fully aware that all demands had not even that day been net, and that a depositor had applied for the appointment of a receiver to the concern in consequence thereof. So much for the statements of presidents, vice presidents or trustees of shaky institutions. The following are the true particulars :On application of Mr. Charles A. Hoff, a depositor to the amount of $854, the National Savings Bank, at I the corner of Houston street and Broadway, notofied him on Saturday that they were unable to meet the / demand. Mr. Holl's attorneys. Messrs. Plact, Gerard & Bulkley. applied to His Honor Judge Bar1 nard for the appointment of a receiver. The petition r of the plaintiff was granted and Mr. Edward Schell t appointed receiver. Mr. Scuell 13 a well known citizen, connected with the Manhattan Savings 8 Bank, corner of Bleecker street and Broadway. His 1 brother, Mr. Richard Schell, became his bondsman I to the amount of $50,000 for the faithful performance of nis trust. This morning Mr. Schell will take , possession of all the assets of the concern and proceed at once to ascertain its status, with the hope : of satisfying in full all the obligations of the institution, as its liabilities are small. Mr. Walter Roche, one of the directors, furnished aid to the amount of $17,000 in cash from his own private means in order to secure the depositors from any serious inconventence on SaturI day. but unfortunately he was not notified in time of the true condition of affairs. and his money was received alter the doors were closed. This amount, ) Al, IS believed, will insure to the depositors the full of their claims. Mr. Roche also furnished liquidation ea Saturday values to the amount of $300,000 in unencumbered real estate to the r receiver of the Guardian Savings Bank, and also $10,000 of a mortgage on u.s owa private residence to the Bowling Green Savings Bank. the said mortgage 10 be converted into funds for the tion OF their indebtedness immediately. A director of one or these institutions informs us that had others of the trustees of the several savings banks come forward as promptly as Mr. Roche with such . material aid as he did, the institutions would still be ou their feet and able to resume business before the fact of their insolvency became widely known. It is further stated by parties who are pretty fully that all three of the institutions will pay in the ever full; posted out prospects of their resuming are very meagre. It is only necessary now to await the conversion of Mr. Roche's collaterals into cash t satisfy the demands or the depositors.


Article from Memphis Daily Appeal, November 21, 1871

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MARKETS BY TELEGRAPH. NEW YORK. AFFAIRS IN WALL STREET. NEW YORK, November 20. The gold market was weak to-day, and declined to 110% the lowes price for a long time past. Closing fales were at 110% Loans were from 1 to 2 per cent. for carrying. Clearings, $27,500,00 The government bond market was generally steady at the close, not being affected to any extent by the decline in gold. Stocks opened irregular, Reading and Union Pacific being strong, Hannibal and St. Joseph weak, and the remainder of the list extremely dull and barely steady. The decline in Hannibal and St. Joseph is ascribed to thesales of some of the ring savings banks, which have recently come to grier. The market, at the close, was strong and higher, and the best prices of the day were then current, except in Hannibal and St. Joseph. The receivership, in the case of the National Savings bank has been raised, and the institution was paying its depositors to-day. Money easy at 5@6 Southern State securities opened weak, particularly Tennessees, and new South Caroli a, which declined materially on the last call, were dull, but generally steady at the deoline of the morning. Sterling exchange bankers's bills, 9% United states coupons of 1881, 117% do 50 20s of 1862, 111% do 1864, do 1-66, 111%; do new 865 114% do 5-208 of 1865, 114% do 1868, 147/6: do 10-40s, 109% currency 6s, 18% State bonds: Missouri, 97: Tennessee old, 64; Tennessee new, 64% Virginia new, 60; Virginia old, 65; North Carolina old, 38141 North Carolina new, 20. COTTON. NEW YORK, November 20.-Ootton-demand fair and market firm. Middling uplands, 18% LOUISVILLE. LOUISVILLE, November 10.-Bagging is very quiet at 15% to 103/00 for heavy nemp Cotton quiet and unchanged; middling, 17% Flour in air demand. and the market is firm; extra family, 86. Grain film, and there is not much doing. Choice red and white wheat selling on arrival at SL 85 10 1 s0. nar and shelled coin 50c; 55c for old; new ear, 45c. Rye 80c. Mess pork quiet at #12 50 for old and new. Bulk meats in fair demand; shoulders, 5% clear ribs, 03/c; clear sides, 736. Bacon in modarate demand, with light sales of shoulders ai 71 ce: clear ribs, 80; clear sides, packed. Sugar-cured hams 14360 Lard in demand at 9 to 10c. Hogs in ready aemand at 84 15 to 40. Whisky firm at 88c. NEW ORLEANS. NEW ORLEANS, November 20.-Flour firmer; superfine, $6 50; XX, $7 25; XXX, $7.50. Corn quiet and weak; mixed ad sheiled, 70c; white, 2c, Qats quiet at 58@55c. Bran searce and firm; prime, 35c; choice, 88c. Pork dull; mess, $14 50. Bacoo dull; shoulders and clear rib, 81/c; clear, Lard dull; tierce, 9 keg, ilc. Sugar- -demand fair and the market is easier; Inferior, common to good common, 61/47/c; fair to fully fair, 8@10c; prime to cho ce, 103/@11% Mola ses tair demand and easier; 1. ferlor, 25@35c; common, 47@52c. Whisky, 95c@$1 04. Coffee dull and lower; fair, 18@.8/60; good, 16/6@18e; prime, 10% Sterling, 20% eight, 1/80 discount Gold, Cotton moderately active; sales, 6000 bales; good ordinary, low middiling middling, 189/C; receipts, 9189, exports to Liverpool, 2188; to Mavre, constitutes, 1879; stock, 100,367. CINCENNATI. CINCINNATI, November 20.-Cotton, demand fair and market firm; low middling 17% to 173/00. Flour steady with moderate demand; family, $6.50 to 65 Wheat steady with moderate demand at $1 42 to 1 45 Corn sleady with new, 11 drooping e moderate dull and prices demand demand 440; at old, to 78c. at n00. 25 to Oats Rye 40c, steady with moderate Barley steady and in seoderate demand at 70


Article from The Charleston Daily News, November 21, 1871

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THE SUSPENDED SAVINGS BANKS. NEW YORK, November 20. Hon. Edward Schell has been appointed recelver of the National Savings Bank. It is believed that the Guardian and Bowling Green Savings Bank will be enabled ultimately to pay in full.


Article from The Portland Daily Press, November 21, 1871

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NEW YORK. TWEED'S SAVINGS BANKS. NEW YORK, Nov. 20.-William M. Tweed denies that he is connected with the Bowling Green Savings Bank. He admits being president of the Guardian Savings Bank but has had nothing to do with its management. He says its vice-president has placed $300,000 worth of real estate at the command of the bank to enable it to meet its engagements. Hank Smith, a Tammany Republican, vice-president of the National Savings Bank, states that all its demands will be promptly met to-day. The Times says that Edward Schell has been appointed by Judge Barnard as receiver of the National Savings Bank and will take possession to-day. It is believed that this bank, the Guardian and Bowling Green Banks will meet all claims of the depositors. It is doubtful if either resumes business again. VARIOUS MATTERS. Henry G. Stebbins has been appointed Park Commissioner. The Committee on the reorganization of the Viaduct Railway Company has now received the resignation of all the directors. The eighth annual meeting of the Dartmouth College Alumni Association of this city will take place at Delmonico's on the first Tuesday in December. Twenty-three additional cases of small-pox have been reported since Saturday noon. The Executive Committee of the Committee of Fifty appointed to investigate the charges of freuds in the Brooklyn city government, has requested the common council to furnish such facilities as will enable the committee to accomplish its purposes. Proceedings in bankruptcy have been commenced against the Guardian Savings Bank. MAYOR HALL A REFORMER. The Evening Post says that it is assured that Mayor Hall's course as shown in the appointment of Green as Comptroller and in other acts, indicate that he has resolved to surrender entirely to the reform movement and to appoint to all vacancies men heartily approved by the leading reformers. RECEPTION OF THE GRAND DUKE. It appears that the reception committee of the Grand Duke did not go to the lower bay in the steamer Mary Powell, but met the Russian fleet coming up under the escort of the American fleet. The Grand Duke has accepted a public reception for to-morrow, until which time he remains on board the Svetland. A VALIANT CHAPLAIN. Rev. Job G. Boss, of Brooklyn, ex-Chaplain of the S. A., was waylaid last night by two négroes who drew knives and demanded his money or his life. The old man defended himself with a stout cane and succeeded in driving off his assailants after having crippled one of them by a blow of his stick. TWEED WILL GET CLEAR. The Tribune to-morrow will contain a statement that Charles O'Connor says that though a flaw in the indictment, Tweed will escape punishment. THE NEW COLLECTOR. Gen. Chester A. Arthur, the newly appointed collector, is understood to be a friend of Murphy, and was appointed at his request. He was formerly a Brevet Brigadier General of volun-


Article from The Wheeling Daily Intelligencer, November 21, 1871

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MONEY-Easy at 5 to 6 per cent. STERLING EXCHANGE-1094. GOVERNMENTS-The bond market was generally steady at the close, not being affected to any extent by the decline in gold. United States 6's of 1881, coupons..........117 Five-twenties (1862).........................111 Five-twenties (1864).........................111 Five-twenties (1865).........................111 Five-twenties (1865) new...................114 Five-twenties (1867).........................114 Five-twenties (1868).........................117 Ten-forties.......................................110 Currency 6's.....................................113 STOCKS-Opened irregular, Reading and Union Pacific being strong, Hannibal & St. Joseph weak, and the remainder of the list extremely dull and barely steady. The decline in Hannibal & St. Joseph is ascribed to the sales of some of the ring in the Savings Bank which has recently come to grief. The market at the close was strong and higher, when the best prices of the day were current, except in Hannibal & St. Joseph. The Receiver- ship in the case of the National Savings Bank has been raised, and the institution was paying its depositors to-day. STATE BONDS-Southern States securi- ties opened weak, particularly Tennessee and new South Carolinas, which declined materially on the last call. They were dull but generally steady at the decline of the morning. ### Chicago Market. CHICAGO, Nov. 20.-FLOUR-Quiet and unchanged in every respect. GRAIN-Wheat-Demand fair and mar- ket firm; No. 1 Chicago choice, $1 21¼a 1 21¼; No. 3 do $1 13; rejected do. $1 03, Corn-No. 2 mixed, 42c; rejected, 41c. Rye-Dull at 62½c. Oats-No. 2 mixed, 31c. Barley-No. 2, 55c; No. 3, 53½c; re- jected, 40c. PROVISIONS-Pork-Mess, $13 40a13 45. Lard-8¼c. Bulk Meats-Green hams, 6¼a7½c; shoulders, 8¼c; short ribs, 5½c, in salt 10 to 15 day's, same as Saturday's quotations. WHISKY-87c. ### New York Market. NEW YORK, Nov. 20.-COTTON-Mid- dling uplands 18¼c. FLOUR-Superfine western and State $5 90a6 30; common to good $6 45a6 70; good to choice $6 70a7 25; white wheat extra $7 30a7 50. Rye flour and corn meal unchanged. GRAIN-Wheat-Spring No. 1 $1 58. No. 2 $1 51; winter red western $1 60a 1 62; white $1 67a1 75; choice amber Indiana $1 67¼. Rye-Dull; western 94c. Barley-Lower; Canada West $1 15; western in store 95c. Corn-Western mixed in store 78a78½c; afloat 79a80; new 77a78c. Oats-Western and Ohio 53a 53½c. GROCERIES-Coffee- Rio 16½a18½c. Sugar-Fair to good refining 9a9½c. RICE-Firm at 8½a9c. EGGS-Firm at 32a35c. PROVISIONS-Pork-Dull; Mess $13 20. Beef and cut meats unchanged. Lard- Dull; prime steam 9a9½c. BUTTER-Unchanged. CHEESE-Unchanged. WHISKY-Steady at 94c. ### New York Live Stock Market. NEW YORK, Nov. 20.-Total beeves 8,750; with 5,400 to-day; 9 cars at Com- munipaw, 109 at 100th street, and 50 at Wehawken. Stock arrived late, the weath- er was warm, with rain, making a very unsatisfactory market. Droves had cost high, and the owners fought against the decline, but were forced to yield ½c at the close, and had much stock left at night. The bulk of the sales were nearly up to last week's prices. The average quality was good, many of the droves being fine. This prevents low quotations. A few pairs of very fine cattle brought 18c, but 12½c is a high quotation for choice stock; not many of the really superior animals exceeding 12c, with fair to good at 10½a 11c. A few Texans were sold at 7½c, but choice were offering at 7½c; for lots of 5½ cwt., the market averaged strong at 10½; 8 cars Illinois steers, 6½ cwt, sold at 10; 10 cars 7 cwt, sold at 10½a11½c; a lot of thin, 5½ cwt, Kentucky, sold at 9c; 4 cars fine 8½ cwt, Kentucky, sold at 11a12c. SHEEP-29,600 total, with 18,000 to- day. Market dull and weak, selling at a slight decline, with ½c off on lambs, best going at 7½c; thin at 6c; sheep, 4½a5½c: a few extra at 6c; 1 car very choice 126 pounds, at 6c; 1 car Ohio lambs, 60 pounds, 6c; 1 car 84 pounds sheep at 5½c. Many were unsold. Hogs-49,700; of which 15,000 arrived for the present market, nearly all to be first killed and then sold; dressed, brought 5½a6½c in dressed market; live, worth 4½a5c; 1 car Ohio, selling at the latter price. ### New York Dry Goods Market. NEW YORK, November 20. Market dull but prices are well maintained for all staple fabrics. We quote 40-inch Dwight Star sheetings at 14½c; Nashua E 14½c; do R 12½c; do O 12c; Pacific ex- tra 12½c; Laconis 9-4 sheetings 32½c; do 10-4 do 37½c; Mystic River and Massa- chusetts B B, fine, 11½c; Amoskeag brown drills 14c; do bleached do 15c; Bates' X X bleached muslins 18c; do O S do 17c; Ballou & Son 18½c; do 30-inch do 11½c; Chapman X 12½c; Dwight cambrics 18c; do Star do 15c; Fruit of the Loom 17c;


Article from New-York Tribune, November 21, 1871

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MISCELLANY. LOCAL THE SUSPENDED SAVINGS BANKS. THE BOWLING GREEN IN THE HANDS OF A RECENTER-THE GUARDIAN IN THE BANKRUPIC COURT-THE NATIONAL RESUMES PAYMENT. Except among actual depositors, but little exeitement was manifested in the city yesterday in consequence of the suspension of the Guardian and Bowling Green Savings Banks. At the Bowling Green Bank, No. 83 Broadway. of which Henry Smith is President. A crowd of poor people, principally depositors, assembled early in the morning. but were refused admittance by the policemen who guarded the doors. Several hours later the crowd had almost entirely disappeared. The windows were closely shaded from within, and no one was admitted except those attached to the bank. None of the officers could be seen, as they refused to come to the door. Atl o'clock. the following notice was conspienously posted at the entrance: To the Depositors of the Bowling Green Sarings Bank: I have been appointe d by the Supreme Court (Brady, Justice) Receiver of this bank, to protect your interests. I will, at the earliest practicable moment, give you a state. ment of its condition. SHEPHERD F. KNAPP, Receiver. A petition was filed on Saturday afternoon against the Guardian Savings Institution. in the United States Distriot Court, to have If declared a bankrupt. The acts of bankruptcy charged are that it frandulently stopped payment of its debts, and that it caused its property to be taken under legal process by the Receiver appointed by the Supreme Court. Anyinjunction preventing the disposition of the property of the bank has also been issued. The petition is filed at the instance of Julius Ascher. a depositor in the bank, and is made returnable next Saturday. The National Savings Institution, at the corner of Broadway and Houston-st. which suspended on Satur day, reanmed payment yesterday, and the Receiver appointed was discharged by Judge Barnard. During the morning a large number of depositors withdrew their deposits, bettur paid without hesitation. THE TRIBUNE inadvertently gave place yesterday to an entirely unfounded rumor that the Manhattan Savings Bank was involved in financial embarrassmente. The Manhattan is one of the oldest and soundest institutions in the city, and its President, E. T. Brown. is a very different man from those who manage Ring banks. and with whose names his was unintentionally coupled.


Article from Knoxville Daily Chronicle, November 24, 1871

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HOME NEWS. PASSENGER STEAMER LOST. Death from Opium-The Anti-Grant Party Denied, NORWICH, Nov, 23.-The steamer New London and three passengers and eight of the crew were lost. The boat was insured for one hundred thousand dollars. Baker, the engineer, had saved several lives before losing his wn. Sr. Louis, Nov. 23.-Anna Barret died from over dose of opium. NEW York, Nov. 23.-The Herald has peronal information from Ben. Buttler, Henry Wilson and Thurlow Weed. They know nothing of the cornation of the Anti-Grant Party. Wilson also disbelieves that Sumner is engaged in any such a movement. The Herald professes to have reliable information that the Grand Duke Alexis is charged with the mission from the Czar to this country, being a proposal for an offensive and defensive alliance between Rusia and the United States. NEW YORK, November 23.-Dr. Winder, of Brooklyn, reports the narrow escape from death of himself and family, from eating herring, evidently tainted with arsenic. It is believed that the voucher thieves will turn State's evidence and disclose who employed them to burn the papers stolen. The National Savings Bank will wind up shortly, but will pay its depositors NEW ORLEANS, November 23.-The preparations for Dunn's funeral are elaborate. City Council and Courts adjourned. A holliday here to-day on account of the fair. Business closes at 11 o'clock. RICHMOND, November 28.-Grand Master l'rentice, of the Odd Fellows of Virginia, is dead. PHILADELPHIA, Nov. 23.-A writ of sequestration against the property of Mercer, defaultfing treasurer, and an order for his arrest has been issued. The Pennsylvania Railroad Company take possession of the New Jersey roads December first. \ contract has been concluded between the Pennsylvania Central and the International Steamship Company for a line from Philadelphia to Antwerp. NEW YORK. Nov. 23.-The malt house of Peter Ballou's Sons was burned. Loss of building $75,000, stock $80,000, machinery $15,000. The business will be continued in their new malt house just erected. Joshua D. Miner, an alleged counterfeiter, has been bailed on a bond of$30,000. Detective Whitly says he was offered two hundred thousand dollars to abandon the prosecution. The pictures contributed by the New York artists for their suffering brethren in Chicago realized over nine thousand dollars. Ten cases of small pox have been reported since yesterday and thirty since Saturday. SAVANNAH, November 23.-The crowd at the fair of the Industrial Association to-day is immense. The receipts gathered showing fifteen thousand visitors. The exhibition is very fine. In order to allow time for exhibitors to enter articles now on the way, the Board of Directors have concluded to extend the fair to next Wednesday. It is a complete success. NEW ORLEANS, November 23.-Western produce, groceries, & nominally unchanged. This is a holiday on account of the State fair. Business is generally suspended.


Article from Keowee Courier, November 24, 1871

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NRW YORK, November 18 - -There was a run on the National Bowling Green Savings Bank to-day, of which Henry Smith, Police Commissioner, in President, and suspended payment at 2 P. M., having exhausted its capital. Its officers claim that at the end of sixty days the bank will be able to meet all demands. The National Savings Bank is also reported to be unable to stand the pres. sure, and to have closed its doors before the end of business hours. It is rumored that there will be a run on other banks Monday. The Guardian Savings Bank, W n. M. Tweed President, previously reported suspended, has its portals barred, and all, entrance to the building is denied.


Article from Watertown Republican, December 6, 1871

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THE NEWS. At Home. LOUIS KOSSUTH has been elected & member of the London branch of the International Society. A MULATTO named John H. Swing was murdred and robbed at his residence in Cleveland Monday night. THE flouring mill of the Messrs. Smith, a Rock Falls, Ill., was burned a few days since. Loss $35,000. THE Bowling Green Savings Bank of New York city has suspended. Also the National Savings Bank. AN entire block of buildings was destroyed by fire at Wenona, Mich., one night last week. Loss $30,000. THE Com issioner of Patents has extended the patent of Gen. Reumston, of Indiana, for cotton and hay presses. THE steamer Mary E. Sanford was burned at sea, together with the greater part of her cargo, but no lives were lost. SNOW fell to the depth of about eight inches at Denver, eight at Central, ten at Colorado Springs and Puebla, on Tuesday. RICHARD TWEED retires from the Metropolitan Hotel, New York, the first of December, and Mr. W. Wilkinson takes his place. THE jewelry store of J. Brennan, Maiden Lane, New York, was robbed, on Saturday, of $2,500 worth of diamond rings by a sneak thief. APPLICATIONS were made at the British Consulate in New York by three naturalized citi7AUS for permission to resume allegiance to


Article from New-York Tribune, February 24, 1874

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OBITUARY. HENRY SMITH. Commissioner Henry Smith, President of the Board of Police, died in Room No. 214, Metropolitan Hotel, last evening at 10:30 o'elock. He had been sinking rapidly all day, and at 6 o'clock he fell into a connatose state from which he never rallied. Mrs. Smith was called in, but to her sad entreaties for recognition, the dying man made no sign beyond rapid and heavy breathing which continued until death ensued. At o'clock the last consultation took place, Drs. Vanderpoel, Henry, Thebaud, Satterlee, Stimson, and Walker being present. Thurlow Weed was also in the room, where he had remained most of the day. The consultation ended in the decision that mortal skill was useless. The dying man had taken no nourishment since 71 o'clock, and all efforts had failed to rouse him from his comatose state. At 101 o'clock his friends, who had thronged the halls of the hotel since the first hour of his illness, were invited in, and surrounded by these he died. Henry Smith was born on October 20, 1820, in the village of Amsterdam, Montgomery County, N. Y. The son of a farmer. he began life as a driver on the Erie Canal. When quite young he opened a shop in the village of Fultonville, where he sold groceries and canal stores. He was subsequently employed as an agent of the Albany Merchants' line of canal boats. He did so well that he was induced, about 1843 or 1844. to come to New York as the agent for the Fultonville line of canal boats. He filled this position for several years and purchased an interest in the line. By his efforts he built up an extensive forwarding and commission business. He was subsequently connected with Abram Van Santvoord in running & line of tow-boats, and afterward with Albert Van Santvoord in the same business. Van Santvoord and he built the handsome steamboats Chauncey Vibbard and Drew, and organized a day line to Albany. Mr. Smith has bean for 25 years one of the most active politicians in the Whig and Republican parties, and for several years past has been one of the most influential Republican politicians in the State. He was for many years extremely popular with the working classes in the lower part of the city, and was on several occasions elected over his Democratic opponent in a strong Democratic district. In 1853 he was chosen Councilman from the Ist District, and was reelected two years later, serving in the Board of Councilmen during the years 1854. 1855, 1856, and 1857. He was defeated for Alderman in the latter year, but was elected two years later. and served in the Board of Aldermen until 1863, having been reëlected on the expiration of his first term. In 1863 he was chosen one of the Board of Supervisors, and six years later was again elected. His seat was contested by John Foley, but while the case was before the courts the Charter of 1870 was passed, abolishing the Board of #Supervisors on July of that year. In the Winter of Mr. Smith was chosen by the Legislature to fill the vacancy occasioned by the resignation of Police Commissioner Thos. C. Acton. When the Police Board Iwas reorganized in 1870, un der the provisions of the Charter passed by the Legislature of that year, Mr. Smith was reappointed by Mayor Hall, and drew the long term. Under the provisions of the present Charter he retained his office with several other heads of departments. He served two years as Treasurer of the Board of Police. In 1870, on the reorganization of the Board of Police. he was chosen President Mr. Smith has also been a member of the Board of Health ever since he entered the Police Board under the new Charter, by virtue of his position as President of the Board of Police. Mr. Smith has been an ardent politician ever since he reached his majority. He was always active in primaries and nominating conventions. The First Ward where he was best known, and where he resided for many years, was strongly Democratic yet he was chosen Councilmen on the Whig ticket on two occa sions, and afterward Alderman, though running as a Republican. He attended nearly every Whig and Republican State Convention held in this State during the past 20 years, and though seldom a delegate probably wielded more influence than nine-tenths of those who attended the Convention in that capacity Mr. Smith was for a long time President of the First Assembly District Republi can Association. He was also a member of the Central Committee In 1870, when the rival Republican Commit tees coalesced he was one of the Committee selected on the Republican State Executive Committee to bring about that result. In that year be was made a member of the State Executive Committee and served until 1872 As President of the Bowling green and National Savings Banks, both of which failed during the W inter of 1871, he was held responsible for the mismanagement which 1éd to their failure. Especially was this the case with the former, where large number of poor people in the First, Second, and Third Wards had deposits. The investigation into the mismanag of the bank showed that the funds had been squandered in the most reckless manner by the officers stock speculations and in other ways. The friends of Mr. Smith claim that in this case he was more sinned against than sinning, and that besides losing considerable amount of money which he bad invested in the bank, he made advances after the failure toward paying the depositors. No arrangements have as yet been determined upon for the disposition of the body. Mrs. Smith has placed the matter entirely in the hands of Mr. Ackert, a friend of the family, who will, of course, consult with the Police Commissioners relative to the funeral. The Board will meet to-day Among the notable people who were present in the halls of the hotel during the day were Taurlow Weed, Commissioners Gardner, Charlick, Duryee, Russell, Senator Tobey, Coroner Woltman, James Lee, Sheridan Shook George O. Jones of Albany, Geo. Starr, Commissioner Van Nort. Assemblyman Biglin, and Daniel D. Conover. These gentlemen used Room No. 204, opposite the dying man's apartment, as 8 reception-room The questions of municipal complications which grow out of the death of President Smith were very genorally discussed by the city and State pollticians. Ever since his death seemed inevitable, this matter has been the subject of considerable solicitude By his death, it will readily be seen, a tie occurs in the Board of Police and the two members who constituted what, with President Smith, was termed a Ring' and governed the entire proceedings of the Board, are now contronted with a party in the Board as strong as themselves. Commissioners Gardner, Russell, and Duryee, being all Repubiticans, it 18 thought not improbable that Mr. Charhek may be deprived of his power. Some of those present were 80 sanguine as to believe that the Board would now become a unit and work amicably together for the municipal good without regard for Rings. Of course the duration of this threatened dead-lock will extend only to the time it may require Mayor Havermeyer or the Legislature to select new member, buton this point another complication arises. It will be remembered that Henry Smith was retained in office by the charter of 1873 as President of the Board of Police Commissioners, and that a question of law arose on the legality of a retention in such terms, it being held by shrewd corporation yers that a charter could not retain any individual by name as President of a body which, in equity, had the right to name its own presiding officer. This trouble was bridged over by a formal election held by the Police Board at which Mr. Smith was elected President The question now recurs whether the Legislature has the right to nominate another man as President of the Board, or Mayor Havemeyer the right to nominate another member. CHARLES SHIRLEY BROOKS. A London telegram of yesterday states that Charles Shirley Brooks, the novelist and dramatic author. is dead. Mr. Brooks was a native of England, and was born in 1815. Preferring literature to law, he retired from the latter profession, and devoting himself to dramatic composition, he wrote several comedies and dramas, which met with success, and thus decided his subsequent career. He wrote the parliamentary summary of The London Morning Chronicle for several years, and also acted as correspondent of that journal in Russia. Syria, and Egypt, describing the condition of the laboring population in these countries. Mr. Brooks was theauther of several novels, the best known being " Aspen Court," "The Gordian Knot," The Silver Cord," and "Sooner or Later." Since the death of Mark Lemon Mr. Brooks had been editor of Punch, and also wrote regularly for The Illustrated London News. PERSONAL