State Bank (New York, NY)

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A RUSH TO DEPOSIT In the State Bank Was Mistaken For Rush To Get It Out and Run On Bank Followed. By Associated Press. NEW YORK, Jan. 12-The run on the State Bank, on Grand street, was resumed today. mostly by women. The only cause for the run was the rush of depositors to put money in the bank. which was mistaken for a rush to get. it out. The depositors are mostly Jews.

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The Celebrated Selz Shoes, a full line at Gits' New Store. RUN ON NEW YORK BANK. Rush of Depositors to Put Money in Mistaken for People Wanting Their Money. New York, Jan. 12.Throughout a freezing rain last night scores of depositors waited at the doors of the State bank on Grand street to head the line when the run on that bank was resumed today. For two days the frenzied Hebrews from the East side have been engaged in a rush for their money for no other apparent reason than that they saw a rush of depositors to put money in the bank and mistook them for people wanting their money. Cashier A. L. Vorhis said today that the bank had ample funds to meet every demand for money, no matter how long the rush might last.

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STRANGE RUN ON BANK CONTINUES People Wait in Storm all Night to Draw Deposits From the New York State. New York, Jan. 12. - Throughout a freezing rain last night and a chilly fog early today a score of depositors waited at the doors of the State bank to head the line when the run on the bank was resumed today. Apparently it is women who are keeping up the run and in the big crush yesterday they predominated When the doors of the bank opened there was not nearly as much of a crush as yesterday and the crowd was orderly. About 400 people, mostly women, were in line. A truck load of 50,000 silver dollars was brought to the bank early today. It was announced $200,000 in gold would be brought up from the subtreasury and held in readiness, if needed.

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Run on a Bank

New York, Jan. 12.-A score of policemen surrounded the State Bank, at No. 376 Grand street in the heart of the east side Ghetto, when that institution opeued for business this morning. This is the bank which was surrounded by a mob of its Jewish depositors yesterday who got into a panie and started a run because of the arrest of a small private banker, in that part of the town for fraud. The police today had the crowd well in control so that the scenes of disorder witnessed yesterday, were not re-enacted. The officers of the bank say they will pay as long as there is a demand.

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CRAZY BANK RUN

Silver Paid Out by the Ton Fails to Stop It. POLICE HURT BY THE MOB. Scores Clubbed to Keep Them in Line for Their Money. Women Make Sacks of Their Petticoats to Carry Loads of Bullion Away From the State Bank, in Grand Street-One Takes Her Waist Off and Makes a Money Sack of the Sleeve-Old Men Kiss Policemen's Hands to Get Through the Cordon-Stout Iron Ralling Bent in the Rushes-Only $65,000 Paid Out and More Than $400,000 Paid In by the Unafraid-The Run WIll Keep Up To-day, but the Withdrawers Mayn't Put Their Cash Back.

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Three Policemen and Two Wo

men Hurt in the Crush. POLI.1 USE CLUBS ON MOB Thousands of Excited People, Acting Upon False Alarm, Besiege State Bank in Heart of East Side of New York. (Ty Associated Press.) NEW YORK, Jan. 11.-Three policemen and two women were Injured in a run on the State Bank, in Grand street, in the heart of the business section of the East Side. The run was attended by sensational incidents. The 5,000 persons crowded about the bank became SO insistent that they broke down an iron railing around a light well in front of the building and it. was only by desperate clubbing on the part of the police that the excited and 1111ruly mob was prevented from foreing many of its numbers into the well. The policemen and women were hurt at that point.

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ARREST AT STATE BANK

Man Charged with Attacking Its Reputation. When the State Bank. at No. 376 Grand-st., closed its doors at the end of yesterday's business the "run," which began on Tuesday, the sixth the bank had withstood, was practically over. President O. 1.. Richards said the run had been shorter than those that had preceded it, one of which extended over a period of about two weeks, in which time some $400,000 had been paid out. Less than half of that amount has been drawn this time, he said, and considerable interest has been saved for the bank, which would have been paid out yesterday and today on all the deposits. Beyond the extra work for the clerks, the bank has not been inconvenienced in the least, he said. Joseph Gross, who said he was a law student at No. 203 Broadway, got himself into trouble by advising a depositor, so it was charged, to draw out her money because the bank was no good. He accompanied two women to the bank, and when they drew out $900 in silver declared the coin was not legal tender, and was $10 short besides. According to the bank officers he then threatened to go aniong the Jews and make the biggest run on the bank it had ever seen. Gross was locked up on three charges-disorderly conduct, threatening to publish a libel against the bank and attempting to incite riot. He was held for further examination until to-day, and released on bail of $1,000. The money in dispute was counted before witnesses, and was found to be correct. This was the first arrest since the run began. At 9 o'clock the doors were opened. The women were admitted, the men being kept back. About four hundred persons waited in the rain. At 10 b'clock a double truck backed up to the curb. In it were fifty sacks from the Sub-Treasury, each containing $1,000 in silver dollars. Arnold Kohn, vice-president of the bank, said $76,000 was paid out on Wednesday, and about $46,000 yesterday. He said one of the reasons the bank paid in silver was to discourage pickpockets, who would, it was hoped, find silver dollars unhandy to steal,

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COL. BRANCH AN ATHLETE

AS WELL AS FINANCIER

Colonel James R. Branch, of the American Bankers' Association, smiled softly at the intimation that the run on the State Bank was due in part to the activity of the association in enforcing the banking laws against sundry questionable money collecting enterprises on the East Side. He could not see the connection, yet the colonel is a man who can see around a corner with the best of them. Since his hand has been at the lever the association has done yeoman's service in the monetary world. All the detective agencies in town are feared less than this well organized concern by the "crooks" and "shovers of the queer," whose infernal ingenuity makes paying tellers prematurely gray. The percentage of successful fraud at the expense of banking institutions falls annually under the strict espionage of the association and its relentless pursuit of offenders. There is nothing in the visage of Colonel Branch, however, that suggests the implacable sleuth he is known to be. He seems the incarnation of the spirit of forgiveness. His countenance radiates benignty. The beholder is reminded of the "reflected sunshine" of the latest importations in wall paper. Children cry for him, and beggars approach him confidently.

It is understood that his perennial sweetness of temper is due to his daily use of the gymnasium of the New York Athletic Club. Gloves, foils, dumb-bells, the swimming tank or the wrestling mat - it is all the same to Colonel Branch. Not even his famous scrap with "Dick" Sheldon, when, in a moment of indiscretion, he threw his best limb out of joint, could prevent him from mastering all the points of American jiu-jitsu.

Grave, too, he is, as well as gentle, and there are occasions when the only Southron in town who can match his aspect of wisdom is the wisest looking man since Brougham, General Roger A. Pryor.-New York Commercial,

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Wild Run on a Bank

New York, Jan. 12-Three policemen and two Hebrew women were Injured in a run on the State bank in Grand street in the heart of the. businews section of the east stile. The run was started through & misunderstanding. The bank paid all those who asked for withdrawals and is said to be sound.

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RUN IS KEPT UP

Crush at New York Bank Not so Great Thursday. Throughout a freezing rain Wednesday night and a chilly fog early Thursday a score of depositors waited at the doors of the State Bank in New York City to head the line when the run on the bank was resumed. Apparently it is the women who are keeping up the run, and in the big crush Wednesday they predominated. When the doors of the bank opened Thursday there was not nearly as great a crush as the day before and the crowd was orderly. About 400 people, mostly women, were in line. A truckload of $50,000 was brought to the bank early. It was announced $200,000 in gold would be brought up from the subtreasury and held in readiness if needed.

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VAN NORDEN GIVES IN

Accepts Clearing House Reserve Rule and Asks "Non-Membership." The Van Norden Trust Company has broken away from the other members of the Trust Company Association in their fight with the banks over the question of trust company reserves, and is seeking Clearing House privileges. The Van Norden company made application yesterday to clear .through the Fourth National Bank and to become a "non-member" of the Clearing House Association. It will take about three weeks for the application to be acted on, but no doubt was expressed yesterday that the result would be favorable to the trust company. If the Van Norden company is admitted there will be three trust companies which have accepted the conditions laid down by the Clearing House Association. The others are the Knickerbocker, which clears through the National Bank of Commerce, and the Manhattan, clearing through the Chase National. The trust companies gave up their Clearing House privileges last June, when the rule was adopted that all trust companies, to hold nonmemberships in the Clearing House Association, must keep a 10 per cent cash reserve in their vaults. The trust companies rebelled against this rule, and sought to have the reserve requirement reduced to 5 per cent. The Van Norden Trust Company has carried a reserve of 7 1/2 per cent, and now accepts the Clearing House rule of 10 per cent. The other companies in the association are awaiting the action of the legislature. The State Bank, in Grand-st., has made application for full membership in the Clearing House Association. This is the bank that, a short time ago successfully withstood a heavy East Side run. It has a capital stock. of $100,000, surplus of $100,000. and undivided profits of $667,000. Its deposits are about $15,000,000.