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Run on Boston Five Cents Savings Bank. Bosron, Mov. 4.-A run was begun on the Boston Five Cent Savings Bank, this morning, and continues all the afternoon. The banking room was crowded, mostly with women. Policemen were stationed at the entrance to keep the crowd moving.
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CONDENSED DISPATCHES. The Pith of the News Taken From the Current Events of the Day. The run continued Thursday on the Boston Five Cents Saving Bank, all demands for cash being met No action has yet been taken by the trustees on the sixty days clause. The firm of Thomas Dana & Co., Boeton, wholesale grocere, dissolved Wednesday, owing to the M.verick Bank complications. Y unger members Lope to continue the business backed by outside capital. The officers of the Golden Seal Endowment Order of Lewell, Mass., agreed Monday to pay back 50 per cent of the money raken from the certificate holders, and wind up the affairs of the order. House E Allen, Masonic Deputy Grand Master of the state of N w Yo kard member of the Supreme Lodge of the United States. commited suicide by drowning Wednesday, at Binghampton, N Y. At Waterbury, Conn, the 15 restaurant and boarding house keepers who were ar without a were rested ere for serving di playing oleomargarise sign, to Tours. board day fined in sums ranging from 825 to 8100 and Costs. All appeal d. The oldest man on earth, Hiram Leeter, was married Wednesday night in the Opera house at Atiants, Georgia, a fee of 25 cents being charged to all who witnessed the ceremony. Hiram is 124 years old and his bride, Mrs. Mary Moveley is 81. W S. Kelton and J T. Smith, late retidente of Mer Rouge, L3,, were taken from the parish j il Wednesday by 100 or more men, conducted three mises east of the town and hanged to a tree. Tuese parties were accused of having murdered J. Dykus some months ago.
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informed of what was about to happen, said that he had left Instructions with Assistant District-Attorney Wyman. They proceeded to Commissioner Hallett's office and informed him that Mr. French was prepared to offer bail, Mr. Wyman was sent for. but declined to appear. having received instructions from his superior to that effect. Commissioner Hallett said he could not proceed unless the District-Attorney was present. Mr. Allen had also notified Mr. Hallett that he had applied to Judge Colt to have the bail of Colonel French increased from $75,000 to $125,000, and that a hearing had been fixed for 10 o'clock on Friday. Mr. Hyde said he considered such a proceeding an outrage, no notice having been given to counsel for the defendant, so he demanded as a matter of right, that Colonel French be admitted to/ bail, as he was then prepared to offer good and sufficient security. The request was not granted, however. The New-York money market again was disturbed by the calling of money on deposit here by the Boston banks, made necessary to protect the depositors of the Maverick National Bank. Rates on call went to 10 per cent, but the commoner rates were 6@8 per cent. Time loans are reported to be dearer, but there is no active demand for funds. On the easing off in rates a few weeks ago borrowers provided themselves well with time money. The Boston banks, according to their last statement, had $18,782,300 due them from reserve agents, the bulk being in this city. It was estimated that yesterday's shipments amounted to $2,500,000. The previous shipments, according to reports from express-company officials. furnished to Dow, Jones & Co., were $1,600,000 on Wednesday and $2,250,000 on Monday, nothing going away on Tuesday on account of the election. The total amount sent to Boston this week is $6,350,000. This loss is preparing bankers here for an unfavorable statement of the Clearing House to-morrow. Fortunately the New-York banks are especially strong in surplus reserve for this season and there are large sums of gold still on the way from Europe. There is no uneasiness here respecting the run upon the Boston Five Cents Savings Bank. The institution is regarded as too strong to suffer from the present unfounded scare on the part of some of the ignorant depositors.
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COL. FRENCH GETS BAIL. THE COURT REDUCES THE SUM TO $50,000. JOHN STETSON FURNISHES THE REQUIRED SE. CURITY - CONTROLLER LACEY REACHES BOSTON. [BI TELEGRAPH TO THE TRIBUNE.) Reston, Nov. 6.-Colonel Jonas II. French is out on John Stetson being his security. Judge Nelson. ball. the United States District Court, evidently did not of the same view of the situation as that expressed take District-Attorney Allen last night. for he reduced Colonel by French's bail this morning from $75,000 to $50,000, instead of increasing it as Mr. Allen insisted wise. Mr. Allen's reason for wishing to increase was amount of the bond was his belief that French prothe to run away. He told a Journal" reporter posed he had learned something yesterday which conthat vinced him that French meditated flight, and he felt that proper securities should be given. Just look at it!" said the District-Attorney. Here last Saturday was the Maverick National Bank. the proudest on bank in New-England, with five directorsFrench, Dana, Work and Wood. The man at Potter, head borrowed $1,500,000 on its credit: the man Its to him $800,000, the third man $500,000. Work next cashier, and Wood was practically a dummy in was matter, but negtigent of his duty. The first three handled the everything. The capital of the bank was $400,000, and they owed it all. There Was nothing left to assess. It was all right so long as business went on well. On that very Saturday when they the bank was gone they were ruceiving money of knew widows and working people over their counters and two stalwart policemen at the doors. President Potter with came to the United States District-Attorney and acknowledged everything. He was very contrite. Colonel French declared himself innocent of any crimiintent. But he did not know that we knew somenal thing about the books and accounts. Work's position simply this That he was & young man and brought was up under the head of this bank president, whom had come to serve in all things. While Work was, he perhaps. innocent of any active personal connection with the deal,' still he was cashier, and as such he must have known that there were things going on which were not proper and not entirely honest. On the 25th of September the bank reported a surplus of $1,000,000. Where has it gone! Who took it? and what was done with it? Work knows." The speaker intimated that Magruder, the dead examiner, also knew. Why, there is an entire tragedy in the death of Evans which has not come to light yet," said he. "To what extent ?" asked the reporter. "Well, I cannot tell you now. but you will find out all about it in the near future." "Do you ksow there are lots of two-name paper out, the signatures upon which are found to be those of typewriters, clerks and a teamster, with those men as guarantors. The Clearing House and banks tirst got on to this case through some of these notes. Why, this bank did immense business. It was the centre of great financial an interest. I understand that from its fees of 10 or 20 cents here and there in accommodating outof-town banks on checks or drafts it had an incomé of $3,000 alone. Now, If its business had been managed honestly just see how great it must have been and how remunerative. President Beal will be the receiver and he will go down into the sub-cellar." Controller Lacey arrived in Boston this morning at 10 o'clock and took personal supervision of the investigation of the affairs at the Maverick Bank. Before leaving Washington he reiterated the statement that Examiner Magruder had not informed him in January or at any subsequent time that the Maverick was insolvent. It Is understood that in January Magruder informed the Controller that the directors of the bank were indorsing too much paper. There is, it is true, no law to prevent this, but the Controller admonished the bank, and. later, Magruder is said to have reported that he thought the condition of the bank was improving. But in October Magruder again reported that the directors were on too much paper. The same report, it Is believed. also stated that there was an excess of loans above the statutory limit. The statement which Controller Lacey has made, that he was not informed In January of any violation of the law. is supposed to Dover the report as to the excessive indorsement by the directors. That is not technically a violation of law. but It is dangerous banking. Mr. Lacey maintains that he was advised by the Boston Clearing House Committee not to close the bank, and that the committee did not change its decision until Sunday noon prior to the closing. Mr. Lacey, In an interview, says: "The Maverick National Bank was closed by my orders, upon information from Mr. Ewer that the bank was insolvent, supported by the investigation of members of the Clearing House Committee. The report that six months ago I advised a bank president to withhold any report on the Maverick Bank, in the hope that the bank might recover, is without foundation. There is not a shadow of truth in the statement that I did. The bank aljuded to as having been in bad condition three or four months ago, and which has since pulled through, was not Boston bank. It was more than 1,000 miles from Boston. As to reports from Washington that the condition of things in Boston is far from satisfactory, I have only this to say, that SO far as I know the only unsatisfactory thing is the failure of the Maverick Bank. As soon as Mr. Beal qualifies he will ascertain if the parties sending checks by mail to the bank are indebted to It in any way, and if not they will go back promptly." The run on the Boston Five Cents Savings Bank is on its last legs. The crowds about the door of the bank were materially diminished this morning and by noon there were not more than fifty people on the sidewalk waiting for admission. These were almost entirely foreigners. A considerable number of the foreign element, particularly the German Jews. was deterred from further action by the counsel of Rabbi Raphael Lasker and Representative Isanc Rosnosky, who went among them and, addressing them in their own language, fold them that their money was safe and pointed out that the withdrawal of their deposits meant the loss of a quarter's interest. Many servant girls have been advised by their employers that the bank was perfectly solvent. Savings Bank Commis gioner Chapin estimates that the bank has paid out from $500,000 to $750,000 since the run began. The affairs of the Maverick Bank are being straight ened out as fast as possible under the circumstan Matters cannot be completely untangled until the receiver qualifies and assumes his duties, and until loans, assets and claims are classified and scheduled. Then certificates can be issued and deposits made available The money in the bank at the time of the closing of its doors has been overstated. ric gold and legal tenders amounted to $1,000,000. miscellaneous funds to $150, 000. and exchanges for clearing $300 000, or a total of York nearly $1,500,000. There was little money in New in the bank's account. District Attorney Allen. in his argument on the French statement ball from bond Examiner to-day said Ewer that that he had Messrs. received Potter, a French and Dana owed the Maverick Bank over $2,500,000. He further stated The examiner said that among the assets of the bank were found notes indorsed by the three accused directors, the promissors of which could not be found, and whom he believed did not exist. Bank Examiner Ewer this noon deposited with the Assistant United States Treasurer $211,800, which. with the $828 000 deposited Wednesday makes a total of $1,039.810 and for which the Ass stant Treasurer has receipted as for the benefit of the creditors of the Maverick National Bank. Arun is being made on D. Filippo's Italian bank. in