Williamsburg Savings Bank (New York, NY)

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A SCARE AT A SAVINGS BANK

A Crowd Gathers 118 Its, Doors in Conse. quence of a False Rumor. Because sixty or seventy depositors stood in a line on the sidewalk in front of the Williamsburgh Savings Bank. at Driggs avenue and Broadway. before 9 o'clock yesterday morning. waiting for the doors to open so that they could draw their semi-annual interest. some people thought there was a run on the bank. Many car lines pass the bank, and the rumor spread rapidly. By o'clock there were at least a thousand persons there. eager to draw out their money when the bank should open for the day. When the doors were opened the crowd made a rush for the paying teller's window. The special policemen employed in the bank had all they could do to preserva order. Finally the people were made to understand that the rumor had no foundation. and nearly all went away. About one hundred depositors drew their savings. and some of these returned later in the day to redeposit the money. Gen. J. V. Meserole. the President of the bank. arrived during the excitement. and assured all that the bank was in no financial trouble. To a reporter Mr. Meserole said: "The bank has a surplus of over $5,000,000. To-day three things contribute to make the scene unusual. It is the last day for depositing money that will draw interest for the next three months. and there is a rush to get the money in. It is dividend day. and persons come to draw their interest. Then people who want to go out of town over the Fourth of July come to us to draw money to pay expenses. It being a half holiday the attempt is made to do in two hours' work what on other days we would do in five hours. We have about 70,000 depositors, and R small percentage of them makes a big crowd."

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THERE TO DEPOSIT MONEY

. FALSE RUMORS DUE TO A CROWD ABOUT A SAVINGS BANK. PEOPLE GOT AN IDEA THAT A. RUN HAD BEEN STARTED AND FLOCKED TO THE INSTITUTION-CONFIDENCE RESTORED. A big rush of depositors of the Williamsburg Savings Bank, Broadway and Driggs-ave., Brooklyn, yesterday morning caused a rumor that a run was being made on the bank. Men and women could be seen hurrying in different directions. They soon returned with bank books In hand and tried to force their way through the crowd of excited people who were gathering rapidly in front of the bank. So rapidly did the crowd increase that in less than half all hour from the time the bank opened the sidewalks and streets in front of the building were one mass of people. So dense was the crowd that several policemen were sent from the Fifth Precinct to preserve order and to assure the excited crowd that there was no cause for any alarm. It is estimated that fully 3,000 people were on the scene. The tellers stood ready to pay all claims that might be presented. The police, after much difficulty, formed a line. As the depositors passed into the bank they found that their anxiety was uncalled for, and the majority went away without drawing a penny. Not more than 100 of the people withdrew their money, while up to noon it is said 3,000 deposits were received. The bank is in the busiest section of the Eastern District. On Bedford-ave. near Broadway, a block from the bank, are two intelligence offices. A number of domestic servants were In the two offices at 10:30 o'clock when they received word that a run had begun on the bank. The majority of the girls had deposits there and the entire crowd surged out to the street and started for the bank. Some of them were weeping when they reached the building. They found out their mistake by seeing that the greater part of the crowd was putting money in the bank instead of taking it out. They then returned to the employment offices with smiles. It was long after the hour of noon, the time for closing the bank, before the crowd dispersed. When Abram Meserole, the president, was seen by a reporter, he said it was one of the strangest things that had happened in years. "With banks failing all over the country," he said, "It would not be strange to have a run on even so solid an institution as ours. As a rule. we have an extra number of depositors on January 1 and July 1. as the interest dates from these dates, but the crowd that surrounded our doors today was unprecedented. We have $5,000,000 surplus for any such emergency in fact, have more money than we can use or know what to do with. Had there been a run we would have been glad of 11. It was just to the contrary. It is Impossible to say how much money has been taken in. but I believe that fully 3,000 deposit slips have been made out to-day."

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Able to Satisfy All Demands

BROOKLYN, N. Y., July 3.-There was a light run on the Williamsburg Savings Bank at 10 o'clock this morning. Nearly 1,000 persons crowded to get into the bank as it opened, and until noon hundreds of anxious inquirito were made. Gen. A. V. Meserole, president of the bank, said: "We are prepared for any demands that can be made and are willing and anxious to meet them."

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THEMONETARY STRINGENCY Hard Lines in IndianapolisBank Trouble. INDIANAPOLIS, Ind., July 3.-As a result of the continued stringency in the money market, nearly 5,000 men employed in various manufacturing industries in this city are out of work Nearly every factory in the city is discharging some of its men, and many of them say that they are collecting barely enough money to keep up their pavroils. BROOKLYN, July 3. - There was a slight run on the Williamsburg Savings Bank at 10 o'clock this morning. Nearly 10,000 persons crowded to get into the bank. In most cases the inquirers went away satisfied.

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THE SOUTH'S GOOD RECORD

She Withstands the Financial Crisis Better Than Any Other Section. CHATTANOOGA July 3.-An analysis of the statistics of business failures in the United States for the first six months of this year by the Tradesman discloses the fact that the Southern States have withstood the financial crisis better than any other section of the country. The Tradesman's figures show that while the total number of failures in the United States were 16 2-5 per cent. greater for the first half of 1893 than for the corresponding period of 1892, in the Southern States the increase was only 1 3-4 per cent. The assets of embarrassed firms in the same period for the whole of the United States increased 260 per cent, whereas in the South the increase was only 100. Liabilities for the whole country Increased 200 per cent. over the same period of last year, and for the South the increase was 100 per cent. More Bank Failures. ALBUQUERQUE, N. M., July 3.-The Albuquerque National Bank suspended this morning GOLDEN, COL., July 3.-The McPherson County Bank this morning made an assignement for the benefit of its creditors. No statement as to assets and liabilities has so far been made public. GOLDEN, COL., July -The Jefferson County Bank, in this city, made an assignment this morning. The total liabilities of the bank are placed at $76,538, while the assets are $111,380. Run on a Savings Bank. BROOKLYN, N. Y., July 3.-There was a slight run on the Williamsburg Savings Bank at 10 o'clock this morning. Nearly 1,000 persons crowded to get into the bank as it opened, and until noon hundreds of anxious inquiries were made. In most cases the inquirers went away satisfied. The proportion of those withdrawing their deposits was five to one of those depositing.

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A Run on a Savings Bank. Brooklyn, N. Y., July 3.-There was a slight run on the Williamsburg Savings bank at 10 o'clock this morning. Nearly 1000 persons crowded to get into the bank as it opened and until noon, hundreds of anxious inquiries were made. In most cases the inquirers went away satisfied. The proportion of those withdrawing their ing. deposits was five to one of those deposit-

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BUSINESS REVERSES

Many Banks Unable to Withstand the Pressure. ALBUQUERQUE, N. M., July 3.-The following notice was posted on the door of the Albuquerque National Bank this morning: "The Albuquerque National Bank is compelled temporarily to suspend business. This is brought about by the unusual demands of depositors since the suspension of California banks about ten days ago, and the absolute impossibility during the present business depression to call in our loans. It is confidently hoped that we can soon resume business and that every creditor will be paid in full, as the assets greatly exceed the liabilities. "JOHN A. LEE, Vice-President." The suspension will cause no loss to depositors, as the bank has a surplus of $40,000. The other local banks are exceptionally strong and have a large cash reserve. Full confidence is expressed by citizens in their soundness and no runs whatever are being made. The liabilities of the Albuquerque National are $275,000 and the assets $420,000. The New Mexico Savings Bank and Trust Company also closed to-day. Its officers say the depositors will be paid in full. LEADVILLE, Colo., July 3.-A run was made on the California, Carbondale and American banks to-day, but all the demands of depositors were promptly met, and at the closing hour the run had ceased. The American National Bank closed its doors this morning, but the directors say the depositors will be paid in full. The bank's statement shows resources amounting to $3,536,134 and liabilities of $342,625. GOLDEN, Colo., July 3.-The Jefferson County Bank failed this morning. There is DO statement of assets or liabilities. The total liabilities are $76,538 and the assets $111,380. The officers are confident that every cent will be paid. CINCINNATI, Ohio, July 3.-Freiberg Bros.. liquor-dealers, have failed; liabilities, $200,000; assets, same. BROOKLYN, July 3.-There was a run on the Williamsburg Savings Bank this morning. Nearly 1000 persons crowded into the bank as it opened, and until noon anxious inquiries were made. The proportion. of those with drawing deposits was as five to one of those depositing. General A. V. Meserole, president of the bank. said: "We paid out $230,000 on Saturday and took in $140,000. mostly from the depositors. We are doing business fast, and are prepared for a run, should it come." CHICAGO, July 3.-A. G. Postlethwalte filed a bill to-day for a receiver for the Illinois Fuel Company of Sangamon County, which confessed judgment some days ago for $70,000. The complainant is holder of the company's stock. He claims that the officers put all his investment in the company and have mismanaged its affairs. He claims the company owes him $42,000 money loaned. WINNIPEG, July 3.-The Commercial

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PREPARED FOR THE (RUN

Brooklyn, N. Y., July 3.-There was a slight run on the Williamsburg Savings bank this morning. Nearly 1,000 people crowded into the bank as it opened, and until noon anxious inquiries were made. The proportion of those withdrawing deposits was as five to one of those depositing. The president of the bank said: "We paid out $230,000 on Saturday, and took in $140,000, mostly from new depositors. We were doing business fast and were prefor a run, should it come."

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RUN ON A BANK

Nearly 1,000 Persons Crowd Into the Williamsburg Savings Bank. BROOKLYN, July 3.-There was a slight run on the Williamsburg Savings bank this morning. Nearly 1,000 persons were crowded into the bank as it opened and until noon anxious inquiries were made. The proportion of those withdrawing deposits were 08 five to one of those depositing. General A. V. Meserole, president of the bank said "We paid out $230,000 on Saturday and took in $140,000, mostly from new depositors. We are

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NEWS AFTERMATH

The Brazilian cabinet has resigned. Gov. Altigeld's mother is dead in Mansfield, Ohio. Edward McOarthy, aged 22, a bartender, jumped from the Brooklyn bridge and will die The Albuquerque National bank has closed its doors. Its liabilities are $175,000 and assets $425,000. The New Mexico Savings Bank and Trust company also closed but depositors will be paid in full. The American National bank at Leadville has closed. Its resources are $536,134 and liabilities $342,625. The Williamsburg Savings bank of Brooklyn enjoyed a harmless run. Two Swedish missionaries, named Wickholm and Johannsen, were killed by the Chinese. Fire cansed $150,000 loss in the dry goods store of Fish, Joseph & Co. The clerks got out after a violent scramble. The store is located in Chicago.