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THE RUN ON THE BANK. MR. JOHN A. RUFF UNRUPPLED The Washington City Savings Bank Stands by Its Guns and Pays Every Dollar Demanded-Its Credit Firm as GibraltarExcited Crowds of Depositors of All Sexes and Nationalities Abundantly SatIsfied-The Business Men to the Rescue -Renewal of Public Confidence-The Bank Entirely Selvent.
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TELEGRAPHIC. [SPECIAL DISPATCHES TO THE GAZETTE.] FROM WASHINGTON SENATE. WASHINGTON, March. 13, 1873. The Senate occupied its open session to-day with the discussion of the motion to unseat Senator Caldwell, of Kansas. RUN ON SAVINGS BANK. The run upon the Washington City Savings Bank stili continues, but in a less degree than yesterday.
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I Mr. Ruff Does the Handsome Thing. , In the height of the run on the Washington City Savings' Bank last Tuesday Mr. Ruff paid a E check to a lady of $850. Yesterday she went to . the bank and informed Mr. Ruff that by mistake E . she was paid only $800. He promptly handed her fifty dollars without question. Such acts on the part of bankers are very rare. I
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From Washington, WASHINGTON, D. C., Sept. 19. There is an extensive run on the Washington City Savings Bank, but all checks are paid on demand. There is a light run, also,on the Bank of Washington, in the adjoining building.
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ones who were so anxious to draw their funds out, are now over-solicitous to again place the same in safe custody. All of the down town banks are transacting routine business as usual, and in a majority of instances the deposits far exceed the disbursements. At the Washington City Savings bank ten or a dozen were in line this morning. These were all paid off and the doors thrown wide open when quite a number of business men and others having entire confidence in the bank and its officers, and who have been prevented from depositing for several days past on account of the crowd, dropped in and left their deposits as usual. Mr. Ruff was congratulated on all sides at this additional evidence of the stability of his institution. During the run on his bank a number of prominent capitalists offered to furnish him with almost any amount of money but he invariably declined these generous offers with thanks, on the ground that he required no assistance. SUIT AGAINST JAY COOKE & CO. John T. Luding yesterday brought suit against Jay Cooke, Menry D. Cooke, William G. Moorehead, H. C. Fatinestock, Pitt Cooke, J. H. Garland, Hugh McCalloch and J. H. Puleston, trading as Jay Cooke & Co., for $1,989.60 on an unpaid draft. MUTILATED CURRENCY. The First National Bank of this city had an arrangement with upwards of six hundred banks throughont the country. In cousideration of their depositing with that bank such mutilated currency as they desired redeemed, the bank returned new notes, making a profit from the use of such notes by holding them in their possession until their time came in the usual run of this business to be served. Since the suspension, numerous packages of mutilated currency have been received by the express company, which, not knowing what to do with them, has been informed in response ') an inquiry of the Controller of the Currency, that the better way would be to ask the owners of the currency what disposition shall be made of it, as the bank, in its present condition, could not act in the premises. The express company, therefore, awaits telegraphic responses from the parties directly interested.
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THE SITUATION IN WASHINGTON. THE RUN ON THE SAVINGS BANKS ENDED. WASHINGTON, D. C., Sept. 23.-The run on the Freedman's Savings Bank has entirely ceased, and comparatively few depositors are at the door of the Washington City Savings Bank awaiting their turn.
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ALEXANDRIA, VA. TUESDAY, SEPTEMBER 30, 1873. FINANCIAL AFFAIRS. Io New York there was a considerable improvement yesterday in financial affairs as compared with the feeling on Saturday. There were some transactions in stocks on the streets. Gold was weak and lower, chiefly on account of the order of the Treasury to commence the payment of the November interest and cable reports of further large shipments of coin from Liverpool. The banks in the North have gento erally agreed certify checks, but when these will answer for purposes of business, as a general rule in the South and West the money is forthcoining upon demand. The healthy condition of the Southern banks is a most cheering sign of the times. The bankers rest upon the great staple (cotton). The same feeling prevails in the West. Chicago has not been seriously affected by the panic, and her banks have weathered the storm. No failures are reported in Báltimore. The Washington correspondent of the Baltimore Sun says :- "Some uneasiness has prevailed to-day in business circles, caused to some extent by the absence of unanimity of action among the banks of the District. A want of confidence in one or two of the banks, whether deserved or not, has been very plainly exhibited. An old and leading private banking house, one of those which refuse to make any change in its ordinary manner of transacting business, was completely overrun to day with persons anxious to make deposits. The head of this house refused over seventy thousand dollars offered by new depositors." The controlling committee of the associated banks of Washington city organized yesterday. At three o'clock a meeting of the depositors in Washington City (Ruff's) Savings Bank was held, ex-Mayor Richard Wallach was called to the chair, and there was an expression of a general desire that the bank if possible should be permitted to resume. Finally a committee of thirteen, with Mr. Wallach, as chairman was appointed to take the wishes of the meeting into consideration and devise some plan of rendering them effective. The meeting then adjourned until Wednesday at three o'clock p. m., when a report is expected. The committee of thirteen met immediately, and appointed a sub-committee to confer with Receiver Mattingly and Mr. Ruff in reference to the situation. The banks' controlling committee met at four o'clock, and made clearances of the checks certified between the associated banks.
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PERSONAL - R. S. Ashby, esq., Auditor of this city, and Assistant U. S. Postmaster General, Marshall, will leave here to morrow for a trip of two weeks to the Blue Ridge Mountains. Samuel N. Hilton, independent candidate for House of Delegates from the 21st district, Capitol Hill, District of Columbia, was born and raised in this city, where he has still many friends and relatives. John A. Ruff, the banker, whose establishment, the Washington City Savings Bank, lately suspended, served his time as an apprentice with the late James Vausant, saddler of this city.
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THE WASHINGTON CITY SAVINGS BANK The Proposition of the Depositors Accepted by Mr. Ruff. - The committee of thirteen chosen by the depositors of the Washington City Savings bank held an adjourned meeting yesterday afternoon at No. 905 F street, at which Mr. Ruff and other officers of the bank were present for consultation. The sub-committee appointed for that purpose reported resolutions, which were adopted, favoring the plan previously agreed upon by the committee, to wit: The depositors, by agreement, to release and defend the bank against any legal interference for one year: the depositors to be paid meantime pro rata in installments as the condition of the bank shall warrant; the interests of the depositors to be looked after by an advisory committee to be selected by them. Mr. Ruff stated that he would gladly accept their proposition; that he felt doubly reassured by the confidence reposed in him by the depositors of the bank. The subcommittee were instructed to confer with Mr. Ruff and the other officers of the bank and arrange further details.
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THE WASHINGTON CITY SAVINGS BANK Report of the Committee. Important Action. The committee of thirteen appointed at the meeting of the depositors of the Washington City Savings Bank, have assumed no authority whatever, nor have they exercised any powers, but have labored faithfully to obtain such information as would enable them to make judicious recommendations to the depositors in order that they may act advisedly. After due deliberation and full consultation with the officers of the bank and the receiver of the court, the following paper was unanimously adopted by the committee of thirteen, and is respectfully submitted to the depositors through the press as being the speediest method of commumicating with them. Recognizing the great benefit of the Washington City Savings Bank to this city, and its sound financial condition as seen from the report of the receiver, the high character of Mr J. A. Ruff and the gentlemen associated with him, we do hereby express our regret that this bank, having successfully withstood two runs of great severity, was forced. in time of universal financial panic and general suspension of currency payments, to close its doors. While we have the utmost confidence in the ability and integrity of Mr. Mattingty, the receiver, we believe that it would be to the inter est of the depositors and of the community if arrangements could be made for the bank to resume its usual business. With a view to this end it is recommended that lists be prepared and left at places to be designated hereafter for the signatures of the depositors, binding them for a period of twelve months to abstain from legal proceedings against the bank, and agreeing to receive such pro rata dividends, less interest on deposits, as the bank may from time to time declare. The present assets of the bank shall be held and used for the sole benefit of the present depositors, and are not to be sacrificed at the present ruinous rates. That a committee of five depositors, viz: W. B. Todd, Jno. Ogden, J. F. Ennis, G. Crandell and H. Polkinhorn, be appointed as an advissory committee in behalf of the depositors to consult as to the disposition of assets and the declaration of dividends for the next twelve months, or until such time as the bank shall resume full currency payment again." The proposition contained in the foregoing paper having been accepted by Mr. John A Ruff and the officers of the bank, shall go into effect when the depositors shall have signed this agreement, pending which we request Mr. Mattingly to continue in his office as receiver in the discharge of the duties of receiver of which he has given entire satisfaction. THE AGREEMENT TO BE SIGNED. The following is the paper to be submitted to the depositors for their signature: We, the undersigned depositors in the Washington City Savings Bank, each in consideration of the signatures of the others to this agreement. do hereby mutually agree with each other and with said bank to waive all interest on our deposits for one year from September 26, 1873. and until such further time as the committee of live, appointed at a meeting of the depositors held October 9th, 1873, may deem expedient and proper. and during said period to abstain from instituting any legal proceedings whatever against said bank. or any of the persons connected therewith, for the recovery of our deposits therein, and do hereby release any legal action so brought within said period. see.
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Condensed Locals. Miss Josephine Esputa was robbed of a gold watch and chain while on the street cars yesterday. A patent has been issued to Riley A. Shinn, of Georgetown, D. C., for a machine for cleaning streets of snow. Mr. and Mrs. Florence had a large and appreerative audience last night to witness their performance of "The Ticket of Leave Man." The only building permit issued to-day wasto F. P. Hill, two story brick, 2d street. between Indiana avenue and D street northwest. Most of the depositors of the Washington City Savings Bank have signed the agreement prepared by the committee, turning the bank over Mr. Kuff. The Board of Public Works has ordered the superintendent of streets to discontinue the watering of Pennsylvania avenue after No vember 1st. The Board of Health have secured the threestory brick building, No. 1223 F street northwest, as their quarters, and it is already being made ready for occupancy by the board and officers on the first of November. The cars of the Washington and Georgetown railroad company on the navy yard line com. meneed running through this morning by way of south B street to the Avenue at 2d street east. Senator Roscoe Conkling has sold hisresidence on 15th street, for $27,000, or $10,000 more than he paid for it about ten years ago. The purchaser of the property is Mr. Samuel Hooper, of Massachusetts, who will add it to Wormley's House." At a regular meeting of the Territorial Guard last night, the resignation of Lieut. George W. Stewart was received and accepted, and Ser. geant William J. Johnson was elected to fill the vacancy. Sergeant Louis Williams was elected third lieutenant. At a meeting of the general temperance committee last night, Messrs. B. D. Peck, Alex. Lynch, and Allen Coffin were appointed a committee to draft a constitution for a "Temperance League" which is to be organized for the purpose of promoting prohibitory legislation. BOARD OF HEALTH-Weekly Report-Premisee Condemned-Slaughter Houses-The Powder Magazine, de.-At the regular meeting of the Board of Health last evening, the health offieer, Dr. P. T. Keene, submitted a synopsis of the operations of his office for the week ending October 18, showing that 439 nuisances had been reported, of which number 256 had been abated and 152 referred: garbage complaints, 7; dead animals reported, 38; number of animals impounded, 28: killed, 10; redeemed, 18; amount realized, $22.50. On the recommendation of the health officer, the brick house at the northwest corner of 9th and K streets southwest was condemned as a nuisance, and its abatement ordered. The health officer, in compliance with a late resolution of the board, reported that the number of slaughter houses in the District is 95; the number of venders of meat having stalls in the markets is 175, and the number of venders outside the markets is 350, and the latter class will be increased one-fourth during the winter. A communication was received from a numher of citizens residents of the county near the Rockville road. petitioning that the powder magazine be condemned as a nuisance by the board, and that it be removed or abated. On motion of Mr. Marbury, the subject was referred to the health officer for investigation and report. It was decided to recommend to the board of police that the time of Poundmaster Einstein as a special 1 olice [officer be extended twelve months.
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The receiver of the Washington City Savings Bank has affected an arrangement for the payment of the $17,000 due that bank by the Union Banking Company of Philadelphia, one half cash and the residue at six and twelve months.
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WASHINGTON CITY SAVINGS BANK. Probable Early Relestatement of Mr. Ruff in Its Management. The business community will be glad to learn that a large majority of the depositors have signed the requisite agreement for the rein. statement of Mr. John A. Ruff in the management of the affairs of the Washington City Savings Bank. Those mose. signatures are still lacking should bear in mind that their tardiness only lessens their chances for the final return of their entire deposits. The assets of the back, it should be remembered, are earning nothing at present at all commensurate with the expenses, while their forced sale in the present condition of the I zoney market will certainly involve a ruInous acrifice. If Mr. Ruff had been permitted to go on with his bue iness immediately after the panic, his bank could not only have afforded much relief to the business community by the use of the capital now tied up, but could also have made large earnings from loaus during the prevailing high rate for money. Is It not wise policy, therefore, to unlock the doors of this bank, which has been found to have always been prudently managed, and enjoy again the facilities which its managers have ever been ready to afford to their customers? This is the question for the remaining depositors to answer. If they would do it grace ully, let them do it promptly.
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THE WASHINGTON CITY SAVINGS BANK.In the Equity Court this morning, Judge Wylie, the case of the Washington City Savings Bank came up on the petition of the district attorney, III behalf of the Government, asking that an order be passed directing the receiver to pay the Government tax of one twentyfourth of one per cent. a mouth. The court decided that a suspended bank is not liable for such tax, and refused the petition.
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THE WASHINGTON CITY SAVINGS BANK. In the Equity Court this morning, Judge Wylie, in the case of Crandall agt. the W ashington City Savings bank, made an order direeting the receiver to pay a further dividend of 15 per cent.
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A Dividend Wanted. Editor Star:-The cold dreary winter is fast approaching. and if the receiver of the Washington City Savings Bank will try and declare a small dividend it will help the needy poor from want. VINDEX.
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GOOD NEWS FOR SAVINGS BANK DEPOSITORS.-To-day, Judge Olin in the Equity Court made a decree in the case of Crandell agt. the Washington City Savings Bank directing Mr. Mattingly, the receiver, to pay a further dividend of ten per cent. to the creditors (depositors) of the bank.
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NEWS OF THE DAY. Six steamers sailed from New York for Europe Saturday. The first c'a's passenger lists aggicgated over 500 The wife of Governor Williams, of Indisna, died illness. yesterday. at Wheatland, Ind., afteralong Hendrick B. Wright, of Persitvania, has failed to obtain a renomination to Congress at the hands of his Wi kesbarre constituents. For the 24 hours which ended Saturday last 207 deaths were reported in New York-the highest mortality this year. No one accepts the result of the Ciocionati convention with more obecrfulness than Gov. Hendricks. He characterizes Gen. Hancock 68 a man of decided ability. Attorney General Ward, of New York, de. cides that telegraph poles and wires are taxable as real cetat. The Farmers' and Mechanics' Bak at St. Paul, Minn., has suspended. being unable to cash a oity check for $10,000. At the Wheeling, W. Vs., democratic ratifi estion meeting Saturday, a cauoon burst, killing a man named McCarchy and a boy named Nidert. In delivering the bacealaureate sermon at Yale College yesterday President Porter discussed the conflict between science and faith, and uphold the truths of the Christian religion. An order Was cranted by Jadge Cox in the Equity Court. Washington, Saturday, for the distribution of the upoalled for dividends of 372 depositors in the late Washington City Savings Bank, unless claimed before Ostober 15:h next. The back failed in 1873, and 88 per cent. of the debts have been paid. It is a lucky thing for Hancock that he lives in a fort upon an island and has a guard around him. He is able to scolude himself from the thousand dear friends who wint to congratulate him and ask to be remembered when he is elcoted. Notwithstanding his defenses, the ferry boats are coining money in carrying "pilgrims" to Governeur's Island. Ex Sepator Steckton. of Now Jersey. chairman of the delegation appointed to notify Gen. Hancock of his nomination, sent him a dispatch asking when he would meet the committee to inform him of his nomination. The General replied at any time on 8 day's previous notice. July 12th and the New York Hotel have been fixed as the time and place. Mr. Tilden says that be approves of the nomication of Gen. Hancock "entirely and without reserve:" regards it as the best that could have tesn made, and that Hasoocks was the man he favored for the nomination; that the democratic ticket will cirry Now York, and. in his judgment, the ticket has every rea* sonable prospect of success. The controller of the currer cy will not withdraw all $100 national bank notes from circulation, but gives notice that no person should receive any note of that denomination on the National Revere Bank ct Boston, the Pittsburg Na tional Bank, the Merchanics' Bank of New Bedford, Mass., the Pittsfield National Bank of Massachusetts, and the National Exchange Bark of Baltimore.
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Justice Cox yesterday, on motion of Mr. Willam F. Mattingly. passed an order directing the receiver of the Washington City savings bank to pay to the creditors of the bank a dividend of seven per cent. out of the assets in his hands.
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THE Washington city savings bank, which suspended in 1873, owing $2,000,000 to depositors, has just paid its last dividend, making dollar for dollar restored.
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HERE AND THERE. Will the railroad companies take the hint. Moral for Republicans: Don't monkey too much with the buz-saw. The present capital stock of the San12 Fe road is $56,032,200. We reckon John Walruff, of Lawrence, will conclude it is not necessary to "go somewhere." The number of "America's greatest emotional actresses" on the stage this year is larger than ever. Twenty-eight Mormon missionaries and 395 English converts arrived at New York Friday. Recruiting for the twin relic was never livelier. It took 12,000 barrels of beer to keep up the enthusiasm of the Pennsylvanians during the late week of bi-centennial pageant in Philadelphia. The Washington City Savings bank, which suspended in 1873 owing $2,000,000 to depositors, has just paid its last dividend, making dollar for dollar restored. The bloodbound in one of the Uncle Tom Cabin companies broke loose the other day and eat up the donkey, and a local paper blames him for robbing the public of the best actor in the troupe. An astronomer at Rochester, N.Y., the other morning, saw what appeared to be a red ball of fire pass nearly half around the nucleus of the comet, and then disappear. He must have been a Republican and the phenomins must have occurred the morning after election. An exhibition of skill with the larial at Austin, Texas, a few days ago drew a crowd of 10,000 persons. Ten cowboys contested for a silver-trimmed saddle worth $300, to be given to him wh
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THE Washington city savings bank, which suspended in 1873, owing $2,000,000 to depositors, has just paid its last dividend, making dollar for dollar restored.
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THE Washington city savings bank, which suspended in 1873, owing $2,000,000 to depositors, has just paid its last dividend, making dollar for dollar restored.