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The Freedman's Bank. The officers of the Freedman's Savings and Trust Company have no notice of the suspension of their branch at Memphis, Tenn., as reported in the Star of yesterday. They instructed all : their branch houses to enforce the sixty-day rule when the excitement first commenced. / -
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, GENERAL CITY NEWS. # Services will Be held in Lincoln hall to-morrow (Sunday) evening, at 8 o'clock, under the auspices of the Young Men's Christian Association. , The Washington Literary Society celebrated , their fourth anniversary last night by a banquet I at Miller's restaurant, corner of Seventh and G streets. Seven thousand five hundred and forty-two , bushels of wheat, 671 bushels of corn, and 180 f barrels of ear corn were received at Georgetown yesterday. 1 The work on the new city Jall is progressing rapidly towards completion. Mr. Michael McGowan, of this city, has the contract for the fine work, and has a large force of workmen engaged thereon. 4 Mr. George Koch, a well-known street car conductor on the Seventh-street line, died on Thursday last at his residence. His funeral will take place this morning from St. Mary's (Catholic) church, on Fifth street, between G and H streets Yesterday morning. about 10:30 o'clock, a colored man named Barney Cornell, while engaged at work at the G-street wharf, had his arm broken by a large stone falling upon him which he was assisting to unload from a vessel. He was taken to his home, in Georgetown, by his friends. The Freedman's Bank. The officers of the Freedman's Savings and Trust Company have no notice of the suspension of their branch at Memphis, Tenn., as reported in the Star of yesterday. They instructed all their branch houses to enforce the sixty-day rule when the excitement first commenced. National Savings Bank, corner of New York avenue and Fifteenth street, pays 6 per cent. per annum on deposits for each calendar month. Banking hours 9 to 4; Saturdays, 9 to and 6 to a. t Stable Requisites, such as horse brushes, curry combs, chamols skins, hay cutters, horse buckets, manure forks, carriage sponge, feather dusters, hoof brushes, mane cards, carriage jacks, carriage wrenches, &c., &c., for sale at low prices by Jos. L. SAVAGE, Pennsylvania avenue and Tenth street. By the Recent Bank Failures
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The Freedmen's Bank. The Freedman's Loan and Savings Bank of Washington has apparently come to grief. Its assets are supposed to be sufficient, if the businees of the bank were allowed to proceed, to more than cover its liabilitiee, but it is now unable, if the opinion of eminent counsel is to be relied on, either to receive or pay out a dollar. One of the last acts of Congress was to amend its charter, and in order to fully understand their position under this law the board of trustees propounded six questions to Hon. Thomas J. Durant. and he answers them in substance as follows: The bank must pay depositors who have given sixty day's notice of intention to withdraw. It may make an agreement with a depositor not to draw out, provided the latter is willing. If the bank pays fifty per cent of an ac count it can not modify such payment afterward. If the bank does any of these improper things it goes into the hands of commissioners who will take charge of all the property. The bank must invest the funds received from branches according to the law of June, 1874. Money deposited since June 23 is in the nature of a special deposit, and can not be used to pay depositors of a previous date. The effect of the opinion seems to have completely upset the policy of the trustees, for the company has done no business since, and nine to four directors voted to close up its affairs, by placing them in the hands of Robert Purvis, of Philadelphia, ex-Postmaster General Creswell and R. Leipold, the head of the independent treasury. Examiner Meigs reported some time since it could pay ninety-three cents on the dollar, but it will take two years to wind up the bank entirely. The New Orleans, New York and Memphis branches have already suspended, but how many more will be compelled to is not known.