Chicago Daily Tribune Newspaper, August 31, 1877, Page 2

make the men who had betrayed their troet enffer [Appianse and crics of the penalties of the lave, “Baily, bad absconded. ‘Tey had been robbe pointed ont the method of punishment, with Davi . ize—let them Yuice: "Yes: they are big thieves; only get canghi" | mittee meeting. MN, THOMAS A. MORAN, the lawyer, pot Into the exprers wagon with some aimeulty, and addressed the crowd. Tie said, ne- ing adepositor himeclf, and representing others who had claima for nearty $20,000, he wished to fon. it was not necansary make a practical angzent to arene that no practical stens could bo taken at a meeting of that character, inthe open air. They wanted anited action on the partof the actual €reditors of the nank, Hear!"}, and that no man he permitted to ba present who had not hin bank book in his hand, [A voice, ** That's busincas,”” and applanse.| ‘Then there would he no political tricks, no chicanery for the bank, but only the ac+ tlon of the creultors who wanted to look after the dollars and cents that had been taken from them dy the closing of the Institution. they coald have the advice of prominent, skiltful men. There were plenty of binkera in Chieago, patriotic and honest, who regretted this failure, anid would take hold, and by thelradvice and nid help the poor people ont of thelr trouble. [Ap- pinnee.] He suggested as one of the Committee, ‘unton Briggs, a prominent businers- man, an well known in the community. [A voice: We want no merchants.""] If be were not acceptable, the mecting could reject him. ‘The meeting shonld be held in Farwell or McCormick Mall, or the Tab- ernacie, {**That's the place." Some one eried out, *Leiter,—he ts a good man." and another ald that only depositors shoula de relected. Mr, Moran urged that {t waen‘t necessary for the men who made the arrngements to bo depositors, When the meeting waa held, the depositors would control it, and could appoint experts to make an exansination and take charge, ‘They didn’t know who of those present were deposiiors, Mr, istion, the hatter. who wana loser to the extent of $5,000, would be a good man to appoint, A creditor arked the Chairman If he was a de- sitar. Pair, Reckon aati he<wad. not. dnt ‘hid wife and danghter were, and he euppored he had a right to . look after their Interest, Peite inail right, "J ‘Other names were called for, and Hernard Cat- Jaghan, F. A, Smith, and John V. Farwell were mentioned, Mr. Moran asked if Mr. Farwell wonld act, Mr. Manion answered that soy good man wonld act in auch an emergency. Consuilerable confusion provalled ac thie junct- ure, and much growling was indulged nat Moran‘s mentioning twa names, The outraged depositors ‘were auspicious of everybody, fone saying that the,emal Gepositors had an eqval interest with the . large ones, and demanding that no politicians or merchants be allowed to have enything todo with the proposed mectiug. Some one moved that ACOMMITTE® OP THREE BE APPOINTED ‘to engage a tiall for mecting,In which none should take part but the depositors, 1 This war asreed to ananimionaly, { c,h motion was then made that Mr, Deeker be tho Chairman of tho Coinmittee, and that he select two others to act with him, { The President pnt the qnestion on the appoint- ment of Mr. Nriges, and he was not chosen. The mover of the resolution regarding Mr. yDecker insisted that ft should be voted an, addini “*and that the Committee reluct from bankers an men Hable ta pe accepted ono to close up the af- ‘fairs of tho bank, and preseat bis name ta the 1 meeting for confirmation," ‘ MR. SHERMAN, ‘the lawyer, now arose from the express-wagon, and began ta speak, when a voice Interrupted him { with ‘Who are yout We want only depositors to talk." Mr. Sherman said he was in sympathy with the creditora, as was every honeat man. tie represented poor peonla whose money was locked up {n the bang, and they had a right to Instet upon the supervision of the bank's affairs. It waa a food thing to make haste atowly. A Tueeting enoutd be called. and a’ com- .Inlttee appointed to report what ateps ehonld be Yaken, end they should be left free to say what, tn their jadgment, should be done. Aa to the selec- tlon of an Arsignee, that wasa matterof law. One had been appolnted, and he was acting ander the provisions of the statute, Itwna nat for the de- ositors to aay what appointment should ba made. Ae seconded the motion so far as calling a mecting a concerited. [A voice: 0 to your law aks. * eared suggonted that the meeting be held this evening: otliers preferred Saturday night, ‘The man who wanted the committee ta select an ** Apaiznce” for approval now mounted the ex: press wagon and jusfated that if his motion was not agreed to there would be nothing for the mect- ing to do; under It they would be prepared to take action. ‘Avolco: ‘ Thia{sacreditors' meeting; Uraer aim Wagon.) é ¥ ‘This proposition wae applauded, but no effort wan mane is carry it out. Much talk faltowed abant there belng toe many lawyers present. Mr, Moran tried to pacify the multitude, Ho mid-that they didn't know each other, of who called then torether, Then they should recollect that “besides the 1,000 preeont there were 14,000 other depositors in‘ tho city, Suppore soma de- positor were named ae a member of tho Commit- tee, would ithe as well known as that of Long John or Clinton Briggs? {A valce: ** We won't have tim. Wo want depositors, and you can't force him on thie meeting: remeniber that." Mr, ‘Moran went on to sny that they wanted actnal de- posltors. iow many present could name them? And {f thelr names were put in the papers, at- inched to ® call fora meoting, how many would know whether they were resnunslble or not? What was needed waa men on the committee ho wonld bring the depositors togethor, hecanse they would recognize thelr names. ‘[Applauso and voiccs of ** That's right.") . A depositor—If you suggest names that are not correct, wo will vote them down. ‘A policeman named Dan O'Hara, [**No, no, he Ia a valiticin Me, Moran—Namo any man who 1s fenerally known and all will recognize as responsible, ond then when the meeting Is held you cau inanage it tn your own way, MR. MANION yas oppored to letting threo men select one to wind up the bank, ‘That would be putting the whole thing into the hands of three men, und of the man whom they saw fit to nominate, ‘Tocall a necting wae all rluht, bat they shoul! do nothing Tore, The creditors could then vote for an Assignee. ‘A motion for a committee of three to arrange for aAmecting wos then put and agreed to, a8 wae a supplemental resolution that the three be selected Uy the assembLlace, Names being called for, *' Long John,” as he was familiarly called, was mentionod, and he was Unaniwously selected, The names of Decker, Michael Keeloy, and William H. Aldrich were’ next suggested, abd the Chatraan called for tho ayea on his own name, and deelared hlmachf chosen, ‘There was somu yrowllog at thie, but It sab- sided when Mr. L. % Letter wae proposed. Ifo Was selected without a dissenting voice, Hut ome in the crowd were dissutlsted. The: ‘wanted men that they knew on the Commitice, an Bung out their names, und ineluted that they be added, seeming to have forgotton that only three were to be aphotnted. Atlength Mr, Manion moved that THE COMMITTER HE INCREASED TO FIVE. This was concursed in, and some one vamed Dan O'liara again, bat Dan was Tapopalar, the creditors demanding that there should be no poll- cians or savings-bauk men on the Committee, One sald, **We waut honest men." The crow ‘became somewhat excited, and ono man dtd his beat to pull Decker out of the express wayon, The Cna{rinan, however, reloascd himeelf, and mau- aged to retain bis elevated potion. ‘Now appeared LAWYER NTNES, who straggled on to the ** platform” and addressed the crowd. Ho sald thore wore two dauuers before the gathering. One was that itinight be manipu- lated in the Interest of the bank by a contidential committes ta co-operate with the Assignee, [A yulee: **Look out for bim."} “rhe other way, itinight he run by thuse who had no Interest at stake. Apprebenalone wero likeiy to be excited by the way in wh ch nowoinatinng had beea put by tho Chatrman. ‘Things had been conducted as if they were cutand dried. He had noticed that the Chairman didn't put nominations that were made, bat put bis own name and annuunced the motion carried without casling fur the negative voto, [A holce: *\Tuat fe all Fights be iva ood wan.) ‘The speaker afd not wish ta lmpugn Mr. Deckor's motlves (perhaps he hadn't done snything but what bu thought for the best), but hls couduct was likely toexeite auspicion, [A vuleu: ** fle has an futerest."] Ite appealed to the Chairman not to Tun the meeting In that way ‘The names of Thom- aa A. Storan, Michael Keeley, and Slernard Catla- yhan had been cientioned, but were not put by the reshtent, he didn't know why. He ventured to ay (lat they fepresented large Interests, [a yoice: ** Wedun't want any politicians" |, and he fusisted that the Chairman should respect the de- Huang of a portion of the depositare, and not eo- deavor to foist men upon the Committee, Mr. Alexander Bishop was then nominated and chosen. Michae} Keeley was named by three or four, and much cunfusivn prevailed, MH. KENNEDY, Sf hard work, got into the express-wagon and sald all were aware that (hat was nu place to have a leeting. One should be held inthe eveulay in a hail, and only depositors whould be admitted. ‘Tual wis the valy way business could be done. All as the monry be bad fo the wo was io the vank, wud Wauted Ite afulre managed honeatly, Vulce: "We want nv puliticiuos,’ '* Let ua ave» hew committee,” aud confusion, } ie Chairman tried to seatote order, but mado Mutle progress tuward at, Goe creditor sald, ** Wo wautoo man to conati- tute bimsclf President," snd another, that the fret three wae a large couugh comultice. Others Lalked of the merits of tie four already selected, aod various opinions were expressed ubout all cx: cept Mr. Weutwurth, who seemed to be well- Loown and uuodjectionsble. But Keeley wae ap- parently selected, Me, Beruard Cailaghag then managed to lift bis voice Bbuve Ibe uproar and move that the Com- wilon the County Clerk and requeat bin Det tu approve the Lund of Bt meeting Was held." ‘This was balled with op- piausc, aud provoked a duscuasiun sinong toe a- pembl: some saying that these was uo hurry, ince se large & bond as was required couldn't te accused iu aday of two, Others feared, unless Gew Lied were called un, that Me, Taylor would + Vaglt eat wok necessary for any one to peek ty polaon thelr minds agalnat the parties who J. The law (A voice: “1 anppore they will do with them as they did G: 0." Another the little ones Mr, Manivn, a printer, moved that anch a com- had been suggested be appointed by the His suygeetion was that three men be avpointed to call a mecting of the creditors in some large hall Friday night [**Ieart In that meeting THE CHICAGO TRIBUNE: FRIDAY, AUGUST 3 1877, allp over to his office Blk preent position, The motion, however, was acreed to, and the meeting adjonrned amid much confusion. THE COMMITIER CALL. Merars. Aldrich, Keeley, Bisnop, Decker, and Leiter, the Committee appointed by the mars- Meeting to represent the depositors, called on Cal, ‘Taylor after the mecting. and were Inducted into the ladics* roam of the bank. where a private con- ference wae held, which laeted npwarde of an hour, The most thorough cond feeling prevalied. betsecen the Committee anil the Assignee, and the latter reiterated the wish he haa several times exe preseed that the depositors td spogint some. ody to go over the acconnta with him, Mr. Leiter sugzested the name of John Wentworth as one in whom the poblic felt the wtmost confidence. The rest of the Committee, an well ag Col. Taylor. feli in with the enggcetion, and Mr. Lelter promisec to aen Mr. Wentworth and eco if he would consent to act as the representative of the depositors in the settling-np process. Col. ‘Taylor expressed his regrets that he was unable ta give the Committee the {nformatlon they destred concerning the aseo:s and the prospect of realizing on those at present romewhat mised quantities, but he promised to let them know jnst as goon as he could efft mattere and” bring order ont of chaos. Tho Committee accented the explanation, and agreed to postpone the cred- itors’ meeting which was to have been held to- might until to-morrow evening, when It i* proposed tohold it In the Tabernnacie, Mr. Farwell having consented to the use of the bulldins for that pur- pose. It mexpected that artatement will be gotten up either to-day or to-morrow, which will afford fome comfort tothe depositors when they mect to-morrow night, OTHER MEETINGS, REPORT OF TH COMMITTER. Weilnesday evening, at a meeting held in Printers’ Union Hall, corner of Clark and Ran- dotph strects, a committee consisting of Messrs. 8, A. Manion, George S, Bonnell, and George C. Hulett was appointed to procure, ff possthle. the removal of Col. Abner Taylor from his position as Assignce of the State Savings Institutton, The Committce have preparcd the followlug re- port: To the Depoattors of the Statea Saringe Inatitue Won: At a meeting of depositors in the above- named bank, held at the hall corner of Randolph nd Clark streets. the undersizned tere appointed a committee for the purpose of tating auch ction an would insure the removal of Col. Abner Taylor fromthe position of Assiunes with a view to the aubetitutton of Join Wentworth feanitaliety; ft TDunhan_ (capitaltet); J. Pearce, President Third National Bank; John DeKoven, Cashier Merctnnts’ National Bank; Sol. Smith, President Merchants’ Savings, Loan & Trust Company, as a Board of Trustece, or auch of them as could be in- duced to act. Your Cammittee beg leave to report that they visited some of the leading Iawrcrs of this city, and were advised that x debtor, acting under ‘the law passed ut the Jast session of the Legisiature, wae entitled to eclect and appoint hisown Asaignce, ‘The Anslignee. after hia appoint- ment, hae twenty days to file a bond, which has to be donhle the amonnt of the property which te is to take charge of. ‘This bond has then to be ap- proved by the County Clerk, who has diacretionary bowers In the tmatter. The bond, once ape proved, can be ret aside only in case tt can be ‘shown in court that the Assignee makes im- Proret to of his position, Tho only thing your ‘committee contd do, under the circumstances, wan to request the County Clerk (who was reprenented by Mz, Young-—Gen. Leb being absent at (Geneva Lake) to notify your attorneys (Mesars. Hitchcock & Dupee} In order that Mr, ‘Taylur'n bond might be thoronghly Leste before being approved. Mr. Taylor's Inventory and valuation of ansets of the bank may be examimed by your attorneys, and protubly will be, as hia bond {s requlated by this valuation. ‘The depositors are invited by Me. Taylor to rend A commiltce into the bank tu oversee oF co-operate with him in some way, In order to ailay any douot spicion of his integrity. Your Committes would suggest to the depositors who appointed us, and to all others, that, should any committee bo appointed, it bo made no of men of tno highest standing a6 bankers, whore practical knowledge of the business will be such a8 fo enable them to pro- fect tho interesta of tuc depositors, anil all, or either, of the gentlemen above-named aro emi- nently qualitied fur the position, Appoint, by all means, men of the greatest inanclal responsibility, whose largo meana and life of Integrity among yon will give the confidence to the management of the State Savings Institution It has so long enjoyed and 6o Hitle deserved. It may bo that auch gentlemen will deciine ta act with Mr. Taylor, and to lend thelr honcat namen and influence where the shadow of suspicion remains. In that case, your only course would be to unite in a petition to throw the bank Into hank: rupicy, which would require the co-operation of threo-fourtha of the depositors, renresenting two- thirds of the Habilitivs. | This conrse should be tho Jost one to take, we are leually advised: andif the depositors atiil lack canfitence in Col. Taylor. your only course Js to appeal to his sense of honor and honesty to vacate the place niow hold by him, and transfer it to othere, who should ba the real choice +of the depositors. ‘dl We assure tie that from tho best Information we have it fe o} the greatest Importanen to all that Mr, Taylor should’ withdraw from the manages ment, Depositors should not sacrifice their ac- counta lt It fs porsible tu hold on to thein, as no one offering to bay will pay tholr value at preeent. ‘The owners had better In all cases keep thelr pans- hooks. A meeting was held at Market faware y fertay afternoon and adjourned till to-night, at which time we adviao all to coma and bring thelr ass-buoke, aa none will bo admitred without hem. ‘THE TON, JON WENTWORTIL Sccls strouuly the shame and scandal which the disreputable manayement of the State Savings Tustitution haye brought on the busitiess com- munity, and does not hesitate to exoress his opiniol Nobody ever suspected Mr, Went~ worth of any backwardness in that regard, and, acting on a sugzeation of his, an impromptu com. mittee of five depositors was cormanlked Thele instractions were tu sclect a man from among the sufferers who should overlook the operations of tho Assignea and hie clerks, Me, Eanes, an employe of Tue Tnhrnusz, was sugested an efit and proper person, but the Committes talled to find that gentleman, and accordingly proceeded tothe office of tha He BW. Bt they. Jnterrogated na to the lega! Snermag cxplained to the Committee the Sper tona.of the oxtating ‘aylor had been appointei d settle himecl? rolld in law under which Col. Asalgnes. Under the old law the debtor waa oilowed to appoint an As- signee to take charge of tho property involved, and it was anita easy uner this ayatem for proferential claims to be made and allowed. Now the law dec@rca that all asects shall divided pro rata, Mr, Taylor has twenty daye from tho date of his appointment in which tn prepare a re- port.and must give a bond to fulfill hie duties faith- js to do so the courts will appoint After some further conference, !t was decided that Mr. Sherman, on behalf of tha depositor, should demand that tho Aseignee allow a cammit- tee of three—an American, an Urlshman, and a German—to be present in the bank while the pa- pers were undergolng examination. DEPOSITORS, BEWATE. ‘Tim FOLLOWING ORIGINAL CARD was distributed yesterday morning very exten- sively among tho depositors of tha State Say- ings Iuatitutlon and those of the Fidelity Bauk: THE STATE SAVINGS THANE BUSTED! Look out far others to fallow. Labor must be protected. To Mechanica and Laboringmen Who Havag Savings Bank Account; \any of you have dimeul- ty in getting your money ur a settlement out of ony of tho sayings banks, or If you fear any trouble in that behalf, yuu are Invited to call on our agent. foradvice and assistance, which he will give to you free of any charze. © The sixty days notice which you are requircd to Rive in order to get your money should be given at once, and in this you will be advised how to pro- ceed, free of any charge, WRING YOUR HAVING-RANH BOOKS ALONG, This Associatfon has for one vf its objects the protectin of the working classes, frec uf charge °Gai'at the clty oftce af the Association, oo al 4 6, Up-stalre, 101 South Clark etre ee Joux E. Lexpatrow, Agent South Chicago Citizens’ Assoclation. One of the above caras was placed in the hands of g Trisuns reporter. He immediately atarted for Lundstrom’ oflice. The ofticg con- sists of adesk in a small room hired by lawyer Beattie. It ts taCatlaghan's Building. Around the door were a few poor depositors, desiring information, and they were luoking for thu great “ philanthropist" on cards. By adyice of certain persona several of the cards were taken tu pollce headquarters, and soon after an ofticce was dispatched to the scene. SUNDITHOM APPEARED AND BM WAS TAKEN IN cUsToDY to the presence of the Chief of Police, lectured to, und discharged. Why the card was fssued will be easily ex- latned. Sundstrum represents the Coledours lu part. There are two Colehours aud one Sundstrom. ‘They all live at Colehour Station. The South Chicayo Citizens’ Association {s » inyth, except as regards the tureo mes named. Sundstrom isa sort of a lawyer, and the Cole- hour's have real catate they want to sell. ‘The real estate fs locuted ut’ Culvhour Statlou. Now, what Sundstrom probably proposed to du istoglye these unaccessibie léts for the bank- bouks, if the can get hold Of awny, Tux Tusa. Cnz reporter falled to get buld of either Sund- strom or Colehour, but they are working together, cand their acheme {4 wholly fo the ipterest of themselves aod the salu uf thelr real estate, and depositers du the savings banks should beware of them. ‘There {s nothing Ulegat fa the Gusiness, but it ts a poor tuvestment for de- pusiturs, Sundstrom will be remembered by persons who read the reports uf the iuvestlza- tons of the Legislative Cotmiailttes on the South Park. Hu was the man who seatin a petition of tho South Chicago Citizens’ A: ciatlon, which organization, upon lovestigation, was found to cousist of a President aud Scere- tury, aud nothing elec. As'usual, the chole tay of sbysters ond dla- reputable luaa brokers who inskd it s businces Lo scare already balf-frightoned depoaitors into setl> ppepL thelr clalets were ub bil elt- and yeaterday, 4 Sulating emong the depositors in frvat of ibe State inks, ito: ted, ‘The jatter were, more unsaphistt In regard to better posted these away and mind thelr business, were olfered, even ar lov ns: dollar, bit the specalator takers. percentage when the nipped in the bud, MISCELLANEOUS. JUDGE BECKWITIL WAT NE KNOWS ABOUT SPENCER. A reporter of Tnx Trinunxe yesterday met. Judge Beckwith, and got from him the follow. ing statement regard.ng Spencer and the ns- signment to Col. Taylor: About two weeks ago I was called upon to Advise relative to the State Savings Institution making an sssigoment. It was stated to mo that there was a possibility of the Institution being obliged to do so, or go Into bankruptcy, Mr. Spencer stated ‘that he hod had acarcful statement of assets prepared, and, after mak- ing all proper deductions, he thought he could realize 90 cents on tha dollar, and perhaps a lit- Tatated to him that f could give no advice as to the propriety of con- No offered to show me a list of the asacts, but I sald to him it was not worth while, as I had not anfilcient information ta judge of their valuo; but that {f the neccesitics tle more than that. tinuing business, of the Institution rendored an assignment or an application to be declared a bankrupt necessary, that I thought an assignment that he was making efforts to rafse some moncy in the city, and from day to lay reported to ine would be preferable. He stated suine of the cfforts he was making to obtain a loan of money. Lunderstood other parties were aselating In tho effort to obtain such loan. atnount he desired to ratse was $300, have no knowledge of hls efforts to ratse mane: excepting as was stated tome. eilge of the ainount in the bank, and was never informed by Mr. Spencer, excepting that: within three or four days before the fallure he tola me that he had sufficient funds to enable him to zo along two weeks, I know fromthe reports that tho bank was paying tolrs depositors some- lieve from #5,000 t0 #10,000 a day. gSonie day last week, Mr, Spencer suggested that AN ABSIONMENT SHOULD NB DRAWS Ur, ready to be used {€ necessary, To asked him if he had consulted any person relative to accept- ing the position of Assignee. Ho sald he had not, and I suzgested that the officers of the bank should select some person, and then ascer- tain if he would accept the position before the nasignment vas drawo. ‘The names of several persuns were mentioned, Soma were out of town, and others would not accept, and he tinal- ly suggested the name of Col, Abner Taylor, and asked me if I knew him, To which I re- plied that Phad known hlm for seycral years, and perhaps he would accept ft. I then stated to Mr. Spencer that the Assignee would be re- ufred to give @ bond In the neighborhood of 25,000.000, with coud security, and that it was no easy matter to Mind a person who would be wiiting to accept the position and give the Bond. Mr. Spencer asked mo to ece Col, Taylor, and ask him if he would accept. the position and would give the bond. On Ssturday I wrote a note to Col. Taylor asking im to step over to my oflice a8 a matter of per- sonal favor to me. Col. Taylor came to nm: officp, and f stated to him that Mr. Spencer ha requested mo to ask him whether, it the neccs- eitles of the bank Were such as to render an as- signment necessary, he would take the position and give the bond. Mr, ‘Taylor replied that ne woul! That wus all the conversation I had with Mr. Taylor on the subject, further than to say to him that iC such a step was necessary Twould {nform him, £ then drew an assign- ment and handed it to Mr. Spencer, leaving tho date blank. That evenmg } was in.the bunk, and was asked to be preacnt at A MRETING OF THE TROSTERS, Some of them expressed great vonildence that thoy would be able to obtain money In tho city on Monday or Tuesday, and it was arranged that ‘Mr. Spencer should go to New York to endeavor to ratse some there. A rumor bad been circu- lated that the bank would nat open Ita doors on Monday, and somo of the ‘Trustees remarked that the rumor would probably increase tho de- mand for money on Monday, “Thequestlon was discussed whether Mr. Spencershould go to New York and endeavor ta raise money or not, and Mr. Spencer said ho would yo to New York or stay here, as the Board should decide. So far asf heard any expression of opinion, it was unanimous that he should go. and that erery resource should be exhausted befora tho bank suspended, I took no part in the discussion, and made no remarks, excepting answering some questions as propounded. Jt was pro- posed that Mr. Spencer stould execute on assignment before leaving for New York, and I was usked when {t would taks cffect, and re- plied from the tlme of {ts delivery. A resolu- tton was passed by the Trusteca unanimonsly directing the assignment to be made, and ft was exectted by Mr. Spencer, and retained by some of the officers of thobank. I never say it after- ‘wards until It was dellvercd to Cot. Taylor on Tuesday afternoon. It was arranged that Dr, Smith and Mr. Turner stiould endeavor to ar- range a Joan here, and that Mr. Spencer should goto New York and endeavor to ralse $300,000 there: hw no further conversation with Mr. Spencer before hedeft for New York. He was to telegraph on Tuesaday tothe officers of tho hank whether he had ‘succeeded or not. On Monday Dr. Smith and Mr, Turner were busy all day endeavoring to ralee moncy, and I be- came extisiied that THEY WOULD NOT SUCCEED, T expressed iny doubts to the officers of the In- atltution na to the advisability of taking money unless they were satisfled they could obtatn aut: cient here and in New York to carry the bank through. On Tuesday, Dr. Smith and Mr, Tur ner had doubts whether thoy could negotiate a loan here, and they came to the conclusion that Mr. Spencer would not be able to make a loan in New York. After tho close of banking hours they deelded to. make the sasignment, and ro- ucatedt me to send for Cot. Taylor. Unent for zat, Taylor, and they delivered the asalgnment to fila. Since Mr. Spencer left I have heard Dothiog of him or hiswhereabonts. It was not expected that he wotld commanicate with mo {n any manner whatever. Mr. Guild and Mr, Bulkle were in the bank when I lefton Tucsday, 1 had no intimation that they were going out of thu city, aud have not seen nor heard anything of them since. In my different Interviews with Mr, Spencer I ‘was aware that he was not stating to mo all that he knew about the bank, but f suppoual be was telling me the truth so far aa hodld maka blatemeuts to me. I am now satistled that suine of the statements that he made to mo were not true, The I NOTES. THR COMMERCIAL BANKS, Business at the National and other commer- cial bauks yesterday was fully as dull as {¢ was the day before, Tho counter demand formoney was light, though there was an Increased inquiry for exchange, which was a shade firmer, Some of the banks keeping large country accounts re- ported a slightly increased imovement in cure renev to the interior, This was,reqarded as legitimately wanted to move the crops, and should not be taken as an indication of nervous» ess on the part of country bankers. $0L A. BMITH, It having been stated toa Taisuwe reporter by Mr, Spencer on Saturday evening that John C, Haines bad secured for the benefit of the State Savings Institution the promise of a loan of $50,000 from Mr, Sol Smith, of the derchante’ Lean & Trust, the . reporter yesterday afternoon interrogated Mr, Smith on the subject. He sald that two weeks ago Spencer made application fora loan to carry him through. Tho loan waa refused. Saturday Mi. Hainca came ta btu) and urged tho necessity of sendering ald to,thu State Savings, It was repreaented that if Sr. Binith would take $50.000, the other banks would advance suine $200,000, Mr.suth thea Informed Mr. Itaines that Mf Spencer could put up drat-clave securities—anow that he wua solvent—and the othe banks would lend $200,000, the Merchants’ Kuan d& ‘Trust would advance $30,000.on Mon- day. vn that day De, Smith and Mr. Turner caine around and talycd the matter over. Smlth renewed hie coailtluny, The two tlemen went away, promlsing to return on Tuce- day worming. ‘They dic not do ao, and during the day Str, South recelved a uote from Mr. Bulkley, the Assistant Casbicr of the State Savingy, stating that, a¢ Dr, Swith aod Mr. ‘Turner not able to make thy areangencos with the other vanks, they Leo nut called og im, as they bad promlacd. ‘Pals ended al] attempta ata uegotiatton, sud on Tues day afternoon thu bauk closed ite doors, SYDNEY MYERS During the afternoon a Reporter drop, ed Into the The Merchants’, Farmers’ & Mechanica’ bank. Directors’ room was occupied by President Myers, to whuin each depositor in search of bis money was referred. Tha sixty-daye’ rule wae infexibly on- forced, hough in sotiy instances small sums were Sdvanced to weet presstog emergencies. **How abuat your investment certificatca? gatd the reporter during # lull in tu “*They are ed Ob mors Myers. **Some two or thre y: a lot of mortzsges, and thereon te cates, which were turned over to ings Institution, on the street corners, Inthe and even atonnd the mass-meeting ot ered- "Trey fought shy of the moro Intelligent deposttors and soncht to ture Inthe aunarenile hawerer, sharpers’ tricks than they at first fmacined, and not a few of them were rather eummariy told to go All sorte of rates and 13 centaon the found few, If any, And thus were their echemes to buy up clams at a Tow rate, in the hone of realizing a big bank waa ready to pay up, Thad no knowl itors wiahing them. Taey ire redeemable on the Poyment of the martesceg a which ther are based Ne merely guarantes the inere-ton them, Pra tleally tt ta very mneh Ike he National-Dank ryn- tem, In which the bank note are hased on Govern: ment bonds,” . “With this differenco.” nfdthe reparter, “that the hank notes are redeemmle on demand, * “Yes, but they draw ng interest. Our certif- eaten draw Interest, and tle bank guarantees its payment," “-The rin doeen't seem 6 tronble you much! “*Noy Etell our deposties that we cannot pay them per cent for thelr counts, and then keen {he money locked up fn onreanits, subject to call, We mast invest It or we cont not afford to pay the interest. We Innist on the dxty-days" notice, and when the time shall have epired we shall pay on demand, THA DISSATIPATION atthe appointment of Mr. [ayior an Assignee {4 takingshape, and UF ya or Tuesday a bill will perhape be filed In the Cirent Court asking for hf! Femoyal on the ground brincompetency, ‘ni movement is undertaken adres, it 16 eald, to 8 cure an Asalynee or Racelvr in whom the pubi have confitence, and to avoil Ntlgation that cannot fail to cat up a tarec 9 a urtion of the asseta of the bank, ‘Those who have pangnrated tt da not numbecrover twenty. yet tiry believe when the hall ts started others who diiike the rctection of Me, Taylor will help to Keon it rolling and mitt mately all whl join in. There will of course be a over the patter of removal, and the programme [9 to getthe Conrt to appotnt s Reeciver until the lawyers prepare for battle at Oftawa, iby that time, it 3 expected the eatate will be ectticd, A PLAT. ‘A reporter meta genticinty yesterds - whose em- ployer had over $4,000 in tie State, A das he bad & plan for a setilementor thi estate, wrich seemed to be a good one, the repoter wrote itdawn. It was atbstantlally as fottov® : Let the afllre of the bank sald he. b putin the anda of vompetent bmkers 43 Trosteen, and let teen make oo | thorough ins vestigation and find aut the ‘value of the property. ‘Then let a number of tren whecrina Aanficient capttal stock, ail continye the business under a competent manaser,—th: depositors to continue thelr claims for five ytors, Under thla arrangement they would cet alieast 50 per cent, The bank should be run in theb veneilt,—all the profita going to them. —and woult he permanent Institnlion,—the inte test on che inveetment, of couree, to’ be tak the building is sold now ft would not bring Wf ie value, Within five yearn tt would fetch neatly ta full valae, and ro with most of the mortgage? Five years will make Bdifference of 25 per cent m the dividends. THE PALMER M0GSE EMVLOYES had over $20, 000 fn the Stute Savinss Institution. The bead porter had alrat £1,400, one of the pight-watenmen $1,000, and’ tho night-Areman $ all they had in the world. Unilortaker Jordan's verrrable colored man, who: has teed more cornees thin any other man in the business, had over $1, 000 in the bank, tho savings of a iHetime, BRT OFF. % ‘There are not a fow deposttora In the State who are aleo debtors to tho frutitutions and, a4 in tho caso of the stockholders fn ineurance companies Who also held folictes, an sttempt will be made to have the liabilities set off ty the deporit account, a\ movement is already on fuot by those thus cir- cumstanced to have the Amignee restrained frum disposing uf the notes of these people, and a bill will be Aled in some cours at an early day to ac- complish this object, It Inclaimed that the prin. ciple established in the Insurance cases will hold good a4 to savings eporite, and, should the courte #0 hold, another $100,000 of nesets, or therca- bouts, will dlsappoar; or, rather, the creditors a¢ 8 body will lose that much, Sume depositurs who have not keptthe run of events, anil who remember the Directors of the Institution a8 they wereafew years ago, have Rotten the impression tint Mr. Joho C, Doro is atill connected with the bank. This ls Incorrect, as Mersray Dore, Perkins Jase, and Dr. Foster went out in 1873, JUDGE GRANT pald ont hetween $400 and 8500 yesterday morning of the $8,000 placed In his bands us the deporita made after 3 o'clock last Saturday afternoon. Tho persons to whom he pald o2t these amointa wero those who actually needed the monsy. The Judge prapesse to pay ont the balance of the money due hese eleventh-hour depositors elthe#®to-day or ta- ‘morrow at the south branch atiice, on Vt nuo near Twenty-second strect. It woutd have been pati out yesterday morning bad it not been for the crowdaround the Stato Savings: Institution, who would have been almovt infuriated {fithad known that any large number of depos- itors were bearing of thelr money. Besides this menoy, the Judze also has 3 little, ho saya, which was placed In his care to provide for the payment of sume drafte which were presumably out before the bank failed, is ROWRN AND HONORE. Early last December the cards were ont forthe marriage of VD. D. Spencer, of tho Stato Sayings, and Mies Sue Dennis, nieeo of Dr. D. 8. Smith. Afow daye prior to the ceremony Me. Sponcor turned up in Tux Trinvse oflice, He had coma to ask a favorin regard to the account of the wed- ing. Uo did not waht it suppressod, though it wae hardly worth the reporting, being amodeat, family affair, ba} thero was one little thing he would fike to hava done, ** Anything in reason will certainly be done, 3fr, Spencer,” anid thu reporter, “Well, then, £ world greatly profor{t if, In. giving the names of guests, you would omi$ those of 15, 4. tonore and Chauncey Bowen," “*OF course their names will nut be glyen if they aro not there.” **iat they probably will be there, Thad to tn- vite them, you know; and 1 suppose they will ‘come. m **T'don't seo why you should want though they are prominent citizen ‘+ Yea, L know, but then, you see, Lam ranning a big banking institution, aad they—well, there | an |nprevsion that (hey ara not caution fal buaiiess men, and it might create w bad | reasion if my people thought Iwas on terms of jottmacy with them. Of course there is nothing acalnst them, but then tt might injure my credit, you rue, and when a man is running s bly Inatitu- tlon he has to be cautious, very cautions,” Well, if you wish It, they will be left out. ¥ea,'t wish you would.’ You understand. 1 have no jbo odjection to them, butthe public does not Inokon thom with conddence—not as ‘business men.” So the names of Messrs, Bowen ond Honore were omitted. Frobabiy they never before knew tho reason why,—nover knew what the conservative Spencer thought of them, jem feft out But thoy are avenged, L. B. SIDWAY. NOW MM SOLD OUT TO DOBBINS AND BTANOER, Yesterday afternoon a reporter called upon jeMr. L. B. Sidway, formerly a large stockholder inanda prominent officer of the State Savings Institution, with a vicw of obtaining from him any Hebt that he oht be able to afford on tho history of the bank ubout the time that Spencer wot into it. Mr. Bldway declined to be inter- viewed, saying that his name bad been mention- ed in connection with the affair just as much as if vol a little moro than ho wanted, Later In the day the reporter encountered a confidential friend of Sir. widway, from whom ho ascertaincd that that gentleman sold out his intereat iu tho State Savings in January, 1873. ‘The stock was purchased by Messrs, Dobbins and Spuncer, the former fur. nishing the monoy required, At that time Mr, Dobbins was worth anywhere fromone million to a million and‘a quarter. Ife was not In debt, Spencer was the Prostdent of the Cook County 3 Uonal, Shortly after Mr, Sldway disposed of his Interest, Me, vohn .C, Dore was elected to the Presidency, When Mr, Dobbins bought in, he oxe pected to devote bis personal’ attention tothe adaire of the bank. Itwas not sapposed for one inatant that Spencer should bave any further Inter- eat than that of a stockholder, Nobody ever dreamed of bis having anything to do with the management, In June, 1873, Spencer sold out hiatntercet in the Cook County, and moved over to the Stata Savings, which was then doing business near Madison atrcet bridge. It was not untilafter the panic that any euspicions were directed uyainat the inansgement af the concern, Dubbing in the meantiine had become Involved In Chicavo & Pacific Raitruad, und mi th ite cunsdition. of the bank at tho ide the bank at tho time idway sold out was considered excellent, It had very little slow paper, A loan of $100,000 had been made to the South Chicago Company, and it wae considered # good mvestinent, in fact worth: B premtun, tt wae secured by a murtyaze on bropesty which wae afterwards mortgnzed for sbout 800,000. If the bank has the old mortgayo ne it was, there has been no time since the loan was mado but that the property would scll fortwo or three times the incumbrance. Iu relation to the Cotvhour tract, that was con- sidered an excellent wood investment. It was a #30, 000 Joan, secured hy * mortgaye on forty acres. of tind. du the recent south ark condemnation auite the jury eppraised the land at $3,000 por were, THE FIDENITY, THE RUN UPON IT TEsTEUDAY. ‘The panic a:nong the depuasltora of the Fidel- ity Savings Bank continued yesterday, and the Tun was‘ continuous throughout the day. At an carly hour the crowd began to gather In tho vicluity of toc bank, on Randolph strect, and by 10 o'clock, when the doors uf the bank were thrown open, there wasa jine reaching sround the corner of LaSalle street. On the street, In front of the bank, quito a crowd bad gathered, and some curlusity-seekers were looking la- tently through the barred windows. The yen- erable Mr. McAuley, the paying-teller, opened his window promptly on time, and the puylog commenced. Tho routine was the same as on the previous day. ‘The seedy got all they desired, and all obtained what they were entitled to under tho rules of the institution and con- tracts with the depositors, Whilo the run seemed heavy, the deposits wero nota low. There aro plenty who havg falth to the integrity of the officers of the bank, and they propose to stand by them. Thus far, since Munday, but two notices of proposals to close accounts have been received, and the two together amount to only $2W. In Justice to the bank olticers it should be stated that the Fidelity {s believed tobe PERFECTLY SOLVENT, and that its assets are conshteret to be more thanamplo to pay all demands. The fact Is, that the officers are determined to stand by the bank and {ts depositors, It is well Known that its assets aro invoated In Interest-pasing securl- ties, but that they are not available st 8 moment's _notlee. President John C. Haines stated emphatically that he had been throngh three auch runs, and that he was prepared to go through this, Tho de positors would be pald everything, and tho bank would continue open as usual, Dit ho have a statement to make? Anybody could makea statement, He proposed to stand by the depositors and do all he could, but a state. ment would be no usc from him at this time. The less ho eaid the better, The bankers with whom TnB Trinuye reporter conversed have an ablding faith in Jolin C. Haines, bothtn bts ability and integrity. They say that he has been twon- ty-one years In tho banking business In this city, {s a man of probity and property, and has always paid dolfar for dollar. =» Tho bankers would stand by him ho needed liclp, but he. didn't need any. aasistauce just yet, and ft wasn't likely that ho would, Ald had been offered him, but Mr. Iaines showed that THE READY CASIt ON MAND WAS SUPFICIENT tostand arunof some days yet. The crowd was peculiarly quict and reapectatie, ‘I'he env= Ings bank depusitors are our thrifticat and best class of citizens. ‘They labor for what they got, and lay by a little fora rainy day. The sympa- thies of all are with these people. Looklig in their faces one cannot help but read, Indnstry and honesty written upon them. Yet these people cannot be blamed for beeing anxtous and panicky in regard to their litte all, Tho collapse of the State. Ima made them feel stranzoly inrecure. Now this much Tun Tiipene renorter can say. He has been in cone atant attendance atthe Fideilty Baik forthe past twodays. He has talked tothe deposit- ors. and been allowed some access to the insite of tho workings of the bank. The ofitcers seem candied in their statements; they endeavor, apparently, to cover nothing, That they hayo more than enough to pay dollar for dollar there {so doubt. But it should be understood th..: real- estate sccuritics cannot be realized upon in one day or in nn hour or no. They are INVESTNENTS OP THE DLPOSITORS, made for n certuln length of time. ‘The incidents during the day wore few, One woman wanted all she bad iu the bank to pay her taxes. Another wanted to buy a cow. Another was going to start a grocery-store and wanted to buyastock. An old man wanted some monoy to send his bovto Dublin, Another man had heard that Jolin C. Haines had sutd his Interest in the hank, and he was afrald {t was going to burst.» The crowd was com- posed of men, women, and children. Even the A. D. ‘fT. had a boy Inthe linc. The women, asa rule, Were the most demonstrative and pleading, and wanted their entire depusits, It was spphrent that the endeavor was mado to satisfy all, and no one was heard grumbling alter leaving McAuley’s smiling face, Ho was equal to the emergency, and polite toall, Tho large depositors are allowing thelr accounts to stand, and severat came in yesterday and as- sured Mr. Haines of thelrconfldcnce fn his ability and management. How long this run will continue, of course, {t is hurd to teil, but, {tapparently had conalterable of o let-up in it after 2 o'clock yeaterday ufternoon, and but few went away without belng able to reach tho paylng-window. The bank will reopen st 10 o'clack this morning, as usual. Tho exvite- ment will hardly survive the day. Mey Fs te M. At the Merchants’, Farmers’ & Mechanics‘ Savings Bank everything was comparatively qutet during the day, In the forenvon sinall crowd gathered with thelr deposit-accounts, but there was no excitement whatercr. The adopted was to pay to cach an $i, and this scemed te satiety hom, The demanca were far lesa than the day bo fore, and the deposits greater, which would reem to indicato fucrcased confidence on the part of the patrons. of tho institution, The manager, Mr. irers, spont most of the day in his private ofice, whero he entertained anchnacalled on bim. ilo appeared eatisflod that the woret was over, and that he wontd have no further trouble. In fact, Het Seneral impressiun Je that the run will ond Sut- urday. There was oven less'doing at the savings banka qiatenday. thon on Werlnesday. Very Caw cailed for money, and very few put any in, Some of tho mansgers anticipated an increased demand for funda, and governed themselves accordingly. but they wera disappointed, IL passed throuzh yeeterday withont a spread of tho distrnat in the soundness of the savings banks, they predict that the exchtement will dle unt within a dey or tivo, and that money will begin ta como in as usual by Blonday. CORRESPONDENCK, NATIONAL SAVINGS BANKS AND POPULAR LOAN a To the Editor of The Tribune, Cmicaco, Aug. 30,—Your editorial in to-day's ‘Tatacye on ‘Governmental Savings-Banks" will attract general attention from the fact that in prin- ciple {¢ is the eame an advocated by the Greenback- ers(t}, If ancha plan as you propore should be adopted, {t would wind ap» good many of shore swindilng monoy-traps called ‘*savings-banke,” Into which the savings of laboring peoptc are drawn andatolen. If, like France, the Government had offered its bonds to ita own people in denomina- trons as low as $10 at 3.08 percent, exchangeable for greenbsacka at tho option of the holder, every dollar of all the loane could Jong era this bave been placed at home, and the Interest paid at home, and kept at home to bo texed, instead of boing sent abreast fn gold purchased ata premium of 8 to 10 per cont: the fat commissiong a syndicates would ha’ wen waved, and tho mo- {ive to control Congressional Jegistation an the financial questions would nevor have faut placo in the minds of the Rothschilds and their clates and agents, Farlnn and domestic; the eurplue Money of the people would have been safe; and the people would be bound to the support of the Government with objlwations growing directly out of svif-intereat, oa well as patriutium, Thero woutl, with euch a system, bo no Manger, auch ag the country experionced on the breaking out of the War of tho Uebelilon, of hoarding com, and thus destroying tho foundation of the paper circu- lation. There could with auch a system be no rebellion, own pocke! hecatise men do not rebel against tnolr or their own bread and butter, when uy & curroncy system such as thy advocate, the ctirrency would be brought uo to par with gold, which would be bet- for than resumption, and would be kept there a long se the peonle's bonde were owneu by them: selves, and the interest Promputy: paid on them. The coin of the country vould circulate wherover wanted with the greenback paper, and tho fraudu- Tent and deluaive promise to pay vold for the paper would be avoided, as well asthe certain failure to fulfill auch promise whenever a panic should occur which would causo the hourding of col, as,on tho breaking out of war, it surely would be. Tho bonde could be made payable in nincty-nine years, paneipa and Interest, in coin, and then funded at hu end of that th unless it became for the in+ ferest of the Government tu pay them, and tet the Daper currency of the realm-reat directly on the credit of the people. ‘This would relieve the pros ple from the | sw occasioned by the awindling Toney-traps cal “banks of timo depusit, It would secure he Government the use of the uncraplognd. currency, It would save to the peo- ple the ‘wastaye of tho paver currency, which Amounts to 1 percent per annum. It would bind the people to the support of the Government yy obligations stronger than osths or patriotiin, it would save sending gold to foreign bondhulders. It would, In short, be monoy sreten: moro pertect than auv the world bas ever known, f wm glad, Mr, Editor, that yoar widely inttucntial Journal has taken the positiou assumed in your ably editorial teferrcd to, Although In detalta you do not pros the mn sack plan for a currency, in princi- tho frauds and ke juet what vest aa remedy teenbackers have been urs fi tem of Government deposits, wale! the 3,45 convertible bond idea, [have pointed out in many oapeech and newspaper articte during the lat ive yeareihe certain destruction af the time bank-depolt avetem by the Interconvertible curren- cy bond system, if itiehoulid be adopted by the Gov. tte undoubtedly true that our present e currency system bet we eve portial demonettzation of the ‘Tre: Well ae the bank paper,” Lot us wow lea fective priuciples of the bank currency, onto perfection by adopting the currency « kested belueen the tines in your Aiea + ROVER, (Uf Mr. Grover will pause end reflect ft must Occur to Llu that if the bond ts made intercon- vertible It will absorb pretty much all the cur repcy out of circulation and luck it up in bonds. ‘The bonds will circulate as a kind of clumay cure rency, on which the Government will be paying Interest. and receiving no benellt. As wo ro- marked on a former occaston: If the Govern- ment were to offer a 3.63 interchangeable coin boud for greenbacks, the holders would convert them {nto bonds us fast asthe Treasury clerks could issue then. Thery would be a universal rush fur those bonds. They would pass from and to band as curreacy In purchases aml pay- ments. It would be agalust everybody's ‘inter- est to reconvert their 8.65 coln bonds loto green- cks, because by so doiug they wou"! lose at the rate of $4.05 of coin interest yr. cvery $100 bond. No oue would refuse to ryalvo them to payment of debts any more thy people now refuse tugccept bank-uotes. Th. would be taken jn payuieot of everything. Thoso having bank-notes would prezeut them tithe banks for redeoption iu order te get grenbacke, which would be cx-bunved fortoe 3.65 bonds, The bank circulation would thus bi ickly swopt out of existence, and the curre: would be contracted by $315,000,000 to atart with. As the honda, for alt practleal purposes, rould be lewal-tenders, the £360,00),000 of creenbacks would be In an astonishingly short time changed into bonds. Thus our present paper currency af 8875,000,000 Wonldu:eapnent Ina few months, but reappear in the form of $360,000,- 000 of bonds. Calling tho latter cnr- Tency, there would he 9 contraction of $315,000,000, The only way to ree Neve this contraction would be to Issue ercen- hacks to the amount of the bank totes; these {n turn woatd flow into the Intcrest-hearing bond currency, ‘Then we would have, say, #700- 100,000 of 3.658, costing the Government about $25,550,000 a year—over $2,000,000 9 inonth—to Pay interest thereon. ‘This $25,550,000 of inter- esé would constitute the suction power which would draw out tho 3.65 bonds. and keep them inthe handsof the banks afl the public. Be- ing $25,000,000 heavier than greenhacks, the bonds would tp the beam. As there would bo no pecuniary motive for sending them Inta tho Treasury In exchange for ereenbacks, but. on the contrary, a loss of intercst, they) woukd crowd out of circulation all’ the green- backs, It would not. be possible to. keep out $30,000.00 of notes. If any of the banks or holders of 3.65 bonds ‘converted thent into greenbacks, and patd out the latter, ft would not be three days before they would all be back in the Treasury. The {dea that a Goy- ernment or bank could make Its notes circulate when it offered to redeam them on demand at a remium of 3.65 per cent per annum fs prepos- erous on its face, Another objection is that, if this Interconrertible scheme were put In prace tice, the Government could not redeem the 5.20 gould interest 6 per cent bonds, as it would have to keep the curreney locked up for the exchange of the Interconyertible bonds. But by the other plan it could pay out the ereenhbacke es fast as received for 6.20 bonis, thus -killing two birds with one atono,—keepine the eurrenes in clret lation and changing the 6 per cent gold bonds into 3.05 popular loan bonds.—Ew.} INDICT THEM. ‘To the Editor of The Tribune, Cuteano, Ang. 30.—Can there not ha somo means taken to make the managers of the State Savings Sank stand ncrimtnal proscenttont If D. D. Spencer has left auch evidence of fraud or em- bezzlement behind, can he not be extradited if fled to England? It {9 time thatthe State of [Mlinols should be mado too hot to hotd or to receive auch a fet of dishonont parties as has been unvarthed dur- Ing the past few years, Honest men do nut fear etringent erlmtnal laws that will cover auch cases ns 1). D. Spencer, or of somo of our recent public ofiiccrs, Your ‘corre- spondent’s sugvestion that such depositors as can should take in settlement the mourtgazes held by the bank ts goo if Bracsles tes And inconclnsion L would say that if Mr. Ab Taylor and Judge Becks with are not the best partics for the interesia of the denositors, put in auch as are, and let the business bedona with economy. Youre respect> faly, Deyostron. IN NEW York, NO BXCITEMENT, Speerat Dispatch to The Tribune, New York, Aug, 80.—Tho news of the fall- ure of the State Savings Institution of Chicago caused much ngitation on the stock market, and tho expectation was that the savings banks of this city would fect the effects. Inquirles were made at the principal banks, but there was no sign of trouble al all, Tho usual business was dono, and there was not tho falntest stm of alarm amoung the depositors. This was accoudted for in tho simplest possible way. They knew of nothing to alnrm them. It was pointed out that the Western savings-banks did not do a savings-bank business, as that term ts understood here, but mixed up a loan and dis- count business with it. Certatn so-called savinge-banka in this clty, operating under snecial charters, did the same thing a fow years ago, but there wero none ln existenconow. They had ai} goneintobankruptcy. Among tho banks whose ofilcera were visited are’ the Emigrant Savings Bank, the East River Savings Bank, the Bowery Savings Bank, the Dry-Dock Savings Bank, tho Manhattan Savinga Institution, and tho old Bleecker Street Bank, none of which ANTICIPATED ANY DAD REYRCTS from the Chicago failure. Mr. Bard, President of tho Contincntal Bank, on Nassau atrect, had. advices from Chicago which war- ranted him in saying that tho fallure of the Stato Snvinus Jnatitutlon would have only local effect, and would not be wido- spread at that. Mr. Everett, Cashler of the Broadway Nation- al, was decidedly of the opinion that no evil re- sults would flow from the fallure. Business- men in Chicago must have been prepared, ho contended, for tho State Savings. upahot. Its rickety and unsound condition was known for aconsiderable time previous to the final catas- trophe, and all cautious men MAD GOT FROM UNDER in good season. Mr. George 1. Scnoy, Cashier of the Metro- politan Bank, 108 Broadway, gavo expression to opinions nearly similar to those of Mr, Everett. At the Emirant Savings Bank, No. 51 Cham- bera, the officers felt strongly convinced that tha Chicago sniash would not inthe least Influence thelr business. Among real-estate mon the feeling was akin to that of the bankers. SEAMCH FOR SPENCER In this city has failed to discover anything ro- garding his whereavouts. Bankers and other atlemen who knew him say that ho would be Ittle Hkely to come here, whero hu Is known to so many persons, The hotels have heen watched, and tho passenger lists of the steamships scanned, but If Spencer has arrived or doparted ho has done so in disguise, and disclosed himp- self to none of bis former friends, One gentle. man expressed the opinion that the missing gan fled to Canada, but says ho has no actual informatioa in the matter. ENORMOUS SALARIES. WIAT 1T COSTS NOWADAYS TO RUN A SAVINGS BANK—A FEW FIGONES rol DEFosiToORS TUAT TELL THEIR OWN STORY. New York Herald, Since the publication of the semt-monthly re- ports of the Stato Bank Superintendent relative to the savings banks, in which the expenses of theso Institutions were given in bulk, come anx- {ety hus been expressed by depositora, who ara destrous of knowing Just whist sulurles to offi- vers and employes are paid ont under the gon- eral expense head. The figures given bolow showing tho enormous amounts paid as ealarics an some of the banks will, no doubt, open wide with astonishment tho cyes of depositors gen- erally? BLEXCKER STNERT AAVINGS BANK, Deposits, $23,500,000, Salariea— Comptrotler , ‘Treasurer... Accountant. Teller . ose reve Teat clerks. sacs Nine bookkeepers, Extra cherie. ‘Two porters, Total expens Other expen: DOWENY MAYINGS BANK, Depoaita, $20, 000, 000, Batarles— Preaident, Secretary. Assistant Secretary. Three teltors.. Thirteen bookkeene: Watchman and police ‘Two porters. Total expen: + tans WADWAY YAVINGR BANK. posits, $500, 0.0, ee Totalexpent Other expenses. ‘Total expen chriz Deposits, $7, 800, 00 Larritie he Total expenses for salaries Other expensess aoe ‘Total expenses. fo Reson ee fala Secretar) Two ul Elva buo $100 urveyor ai re 2.45 Sanltor sad wateb 2,600 ‘Tota! expenses for salar! o05$23, 550 Other expenses... + 21,300 Total exDensen.sesseere soos svoecees eons BOd BD f Deporita, Batarice— Pre EMIQNAST SAVINGS RANE. Dennatts, $14, 700, 000, Salaries— 1 Comptratier .. Assistant... ‘Two accountaats ‘Two tellers. Three hoorkeen Aporalser real cata Porter and watchman. . Total oxpenses for salaries, .. Olber expenses... Total oxpenses..... 66. veeee CRNMAN RAVINGS BARKS, Deposits, $12,000, 000, Salorics— Frealient.,. Treaeurer, Comptroller. Cashier and pi Teller s.6i Stenatnre cle Five bookkeep Porter, watch, and jani Total expenses for salaries... Other expenses... ces veeee OREPNWICH SAVINGS DANK, Deposits, $12,000, 000. Salaries — ‘Treasurer. ., Accountant + Four bookkeepers Plreo tellers Total exnenses for salaries. Other EXDENteR reve ses sees sos Total exponses.....sssseeessceerereree $15, 800 THVINA SAYINGR BANK. Denosits, $3,400, 000, ca Salaries— Total expenses for salarie: Other expens Total expenses. MANWATTAX BATINGA D. Depots, $3,800, 000, Salarie: ‘Tren Reerctary....+. ‘Two tellers and aeriatanta Five bookkeeper Porter and janitor, Total expanses for salaries Other expenses. Total expenses. MERCHANTS AND Ctr! eposits, $4,000, 000, Salar! Secretary and Cashter.., ‘Two tellers.. ‘Two accountants. Meseenger..... Total oxpenses for salaries, Other expenses. EY Total expenses... METNOPOLITAN SAVINGS HANK, *Donoalts, $0,000,000, Salaries: Prealdent. Secretary, Chatrman Finan ‘Two tellers... Fonr clotks.... ‘Watchman .. Total exponees for salaries, Other expenses... Total OLpenses..e ..se.scee sone neve oees 830, Largest deposttor, $89,700, Soy NEW YONK SAVINGS BANK. Deposits, $3,000,000, Salaries— i Presttent, Becretary, ‘Three cle! Total expenees for ealarie Othor expenses... seeeeiscevee Total expenacs. SHAMEN'A MAVINGR TANK. Depoatts, $16,000, 000, Salaries— Preatdent. Cashict... Two tellers, Three bookke: ‘Total expenses for salaries Other expenses.cesseee coeese Total expennes....sseeee «. AXPENNY SAVINGS BANK. Depoats, Po 000, 000. Balarics—- President... Be T . ‘Two bockkeepera , Finance Committes Appraucr... ‘Total expensce for salaries Other expences... Total expenses... TRUTONIA SAVINGS BAKR. Deposite, $1,800,000. Salartes— President... Total exponses for salaries Other expenses VNION DINE SAVINGS BAN Depoalts, $10,500,000, Balarica— Prealdent.... ‘Treasarer.,, ars: Janitor and three watchmen, , Total expenses for a Other axpenses, Cincinnatl Commerctat, He pot aboard an express train bound for thit elty af Pittsnurg. He was a well-dressed, in- telltgent, and bright-looking young man. In looking through the carshe tame across Mr. Gritlith of Avoud:le, and som ladies who wero in hiscare, He promptly introduced himself to Mr. Griffith usa Pittsburg nephew of Georze K. Bhoenberger, and immedlately entered into conversation, talking briskly and brightly. Is sald he regretted his Inability to go on thut Cal- fornia traiu, particulurly as so many distlue Kulshed und society people of Ciociunat{ and ite suburbs wero {u the party. He should hare Mked the company of tho latics, mentioning them, aud Reuben R. Springer, Theodore Cook, and others. ‘Then he dwelt at somesength upon tho beauties of Clitton and Avondale aud the hill-top resorts of tho Paris of America. Ab Inst ho invited Mr. Grifllth to go forward act sinoke, Mr. Griftith acvepted a cigar and Went They smoked and chatted, and at last Mr. Grile fith fellasleep, When ho awoke the young tan, who Was not the nephew of his uncla, Mr. Grif fith’s gold watch and chain, and some other val- uables, were missing. a ‘The Phyliaxera Drowned Out In France. Purts Correrpondence Boston Aacertiter. ‘The insect which hus for the laat few years been attacking our vines seems to bo beating § retreat. Much has been said, and more has beeu written, on this subject, whlch fs naturally oue uf yital interest to France; aud the fact that vineyards which have been left alone have perfectly recovered, whereas those doctore and expertmeuted upon have perished, tead us to regard fayurably one of our savants’ expla Dation of this scour, He attributes the drst appeurance of the phyllorers to orermaourings followed by seasons of drought, and the conse quent preponderance of azote in the atmospbers le malptains, aud with successful experincols to support his theory, that no manure fur threo Years, and three fuct of lime. would save every vinoyard in aplte of everytuing. But this year we ara completely saved by a yzreater and lure shaple means, Rain haa fallen iu such unusus uantitles that the phviloxera is drowued. Tne angeraus elements which have been breeding in the soil for several years have received this eaven-sent antidote, aud are oo longer per niclous, and we now rejoice Iu the knowledg@ that our vineyards aro sar a What a Womau's Boldness Did Oiharew (Unt) Vindicator, When Miss Black awokw and saw a man In ber room steallog her watch, she ouxht, we supports accordlog to the female code, to have am and goue Jutu u faint, and allowed tue watch it bestolen. She did pollilag oe the kind, but coolly said, “Put that watch bac or I'll Bre. ‘Yoo ‘thicf was a fool, but still he was sbarp enough to understand that, and the watch wee duly put back.