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SPOUTED SAVINGS. That is the Condition of what you had in the State Savings Bank or this City, or a part of It Has Gone at last. The Institution goes by the board with A Erash, with $51,000 Liabilities and $41,000 Assets, which are in the Hands of Assignees. Local Depositors Suffer to the tuno of Nimeteen Thousand Dollars-Full Line of Assetts and Liabilities-Ineidents on the Streets-All the other Banks in " Solid Condition. The first bank that ever suspended in Dallas went by the board yesterday. It was the State Savings Bank. Ever since late Friday evening a few have known that the bank was in a tottering condition, but the bubble did not burst until yesterday morning. The bank was incorporated in 1876, and commenced'businesson the 1st day of February, of that year on an authorized capital of one hundred thousand dollars, ten perjcentum_of which was paid in. Mr. E. H. Gruber, the president, being the largest stock-holder. Later, ten per centum was again paid in, making twenty thousand dollars capital upon which it was doing busis ness. A good share of business was at once obtained, at one time there being eighty-five thousand dols lare in the vaults belonging to local depositors. The general diss trunt of saving banks about the years 1876 and 1377 affected the business of this saving's bank also. From that time on the bank has been in a weak and shaky condition. At one time last winter another banking firm had to tide it over, but its business seems not to have recuperated since then. Mr. Gruber went to New Yerk week before last to negotiate for a loan of $15 000 with his correspondenta, Donnell, Lawson & Co., bankers of that city. For the loan of this sum he proposed to turn over collaterals, worth,as he claimed, twenty-five thousand dollars. Mr. Boone, of the New York banking firm, came out here on Tuesday last, and after making a thorough examination of the securities offered by Mr. Gruber, declined to make the loan. This unfavorable answer was given Mr. Gruber some time Saturday, after hich he made an effort to get assistance from Messrs. Adams & Leonard and Captain A. F. Hardie, president of the City bank. Upon submitting his securities to them his request for assistance was denied. He did not know up to an early hour yesterday morning that he would be denied the amount asked for, and claims that he could have gone on, if the assistance had been fortheoming. The news had leaked out as early as Saturday night that the bank was in trouble and it was the talk on the streets all day Sunday. Early yesterday morning knots of men might have been seen standing about, here and there, talking. the matter over in low sullen tones, many wondering If at the usual hour the bank would open. :Some prophesied that it would and others that it would not. A short while before nine o'clock, the hour of opening, a crowd collected on the block on which the bank stands, eagerly awaiting to see what would be done by the bank officials. The hour arrived at last and the doors remaining closed the crowd became restless and a good deal of speculation and hard talk toward the institution was indulged in. The following notice was written out to be posted on the door, but fearing that it would create unnecessary excitement, it was decided not to post it : NOTICE! Owing to recent heavy demands upon the State Savings Bank and its inability to realize upon its assets to meet the further demands likely to be made, the bank has this day made a general assignment for the equal benefit of all its creditors. A meeting of creditors will be called at an early day. E, A. GRUBER, President. It was not long before it became generally known that the assignment had been made. Some laughed and jested about the matter, while the blow that fell upon others was perciptible, the loss no doubt being keenly felt in these dull times Without consultation with creditors, the assignment was made early after it became known that assistance could not be secured, and Mr. Charles Fred Tucker, an attorney at law, and Mr. W. H: Gaston, president of the Exchange bank, who was absent from the city, were made by Mr. Gruber, the assignees. Enterance through a back door was effected early in the morning by a HERALD commissioner, who found the president and cashier and several depositors in conversation. Mr. Gruber seemed averse to having the matter inquired into, and rarely ever answered a question without profering his advice as to what ought to be said in the newspapers. It was like pulling hen teeth, 80 to speak, to get anything that was not generally
