Multiple contemporaneous articles (Aug 15–17, 1929) report a large but short-lived run on Bay Ridge Savings Bank in Brooklyn triggered by false rumors (including a false report of the president's death and speakeasy gossip by a disgruntled loan applicant). Bank officials were warned, brought large cash reserves from other banks, hired extra tellers and paid out withdrawals; many depositors returned funds the next day. There was no suspension or receivership mentioned.
Events (2)
1.August 15, 1929Run
Cause
Rumor Or Misinformation
Cause Details
False rumors spread (including a report the president Maurice Lewis had died) and gossip in a speakeasy by a disgruntled man refused a loan; these rumors prompted depositors to withdraw funds.
Random Run
Yes
Random Run Snippet
False rumors of president's death spread in speakeasy; proved false
Measures
Summoned extra tellers (total 17), brought large cash reserves/armored trucks from Brooklyn Trust and other banks, stationed attendants at doors, summoned police, posted assurances from State Superintendent of Banks.
Newspaper Excerpt
False rumors that there was a run on the Bay Ridge Savings bank in Brooklyn today started an actual run on the bank.
Source
newspapers
2.August 16, 1929Other
Newspaper Excerpt
Depositors in the Bay Ridge Savings Bank ... began today to put their money back. By 9 a.m. 174 old depositors had returned, bringing back $9,000 of the nearly $2,000,000 withdrawn yesterday.
Source
newspapers
Newspaper Articles (20)
1.August 15, 1929Baker City HeraldBaker City, OR
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False Rumors Start Run on New York Bank
NEW YORK Aug. False rumors that there was a run on the Bay Ridge Savings bank in Brooklyn today started an actual run on the bank. and by noon hundreds of Depositors had rushed in to draw out their money Warned in advance by the false rumors, officials had time to prepare. In a big armored truck they brought over $1,000,008 in cash they had had in the vault of the Brooklyn Trust company, and they hired nine extra tellers. making a total of 17. to take care of the crowd. The 17 tellers handed out money as fast as they could. The amount that was paid out could not be determined. bank officials said, until the bank closed for the day The false rumors were believea by the institution to have been circulated by a man who tried to borrow money and was refused.
2.August 15, 1929The Daily AdvertiserLafayette, LA
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TELLERS HAND OUT CASH IN WILD RUN ON SAVINGS BANK
(By The Associated Press) NEW YORK. Aug. 15-False rumors of run on the Bay Ridge Savings Bank of Brooklyn started real run this morning and by noon more than 1,000 depositors had rushed to the bank withdraw their Warned by the false rumors the bank officials had an opportunity. to be prepared. A big armored truck brought over $14,000,000 in cash from the Brooklyn Trust company and the bank hired nine extra tellers to take care of the crowd. The tellers handed out money just as fast as they could work. Officers of the bank said that they
3.August 16, 1929The Springfield Daily RepublicanSpringfield, MA
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Brooklyn Banker's Carbuncle Helps Start Run on Institution
2000 Depositors Withdraw $2,000,000 Before Panic is is Circulated That Executive Dead and Bank Short of Funds
New Aug. buncle the back the president's neck helped to start run the Bay Ridge Savings bank today in Brooklyn. Two depositors rushed before they had into the place quieted before some of them. rather sheepishly, had gone reopened had drawn out days Dr Maurice Lewis. hospital moved from the his neck. False that and his had run the bank. Rumors caused started the actual In addition, officials of the bank said today, who had tried borrow on only collateral and said he had been unable to because the bank was any money short The heads the bank heard about the rumors of run days head off, they Lewis back by wire and appealed to Joseph Broderick, state superintendent of banks. Broderick wrote in which stated that bank found the officials posted excited today rushed right past it. Being bank's officials about in way to take of the rush. They hired care extra tellers, making total 17. They attendants at the to hand out to the And the in from truck had there. Police they to keep the milling crowd in order.
4.August 16, 1929Daily SentinelRome, NY
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Brooklyn Bank Depositors Return With Their Money the Bay Ridge Savings Bank Brooklyn, who became yesterday rumors that there on the bank and thereupon today to put their money By o'clock, 174 old depositors returned, bringing back $9,000 the nearly withdrawn yesterday. They continued coming back throughout
5.August 16, 1929Wilkes-Barre Times LeaderWilkes-Barre, PA
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DEPOSITORS PUT MONEY BACK IN BROOKLYN BANK
New York. Aug. 16.-Depositors in the Bay Ridge Savings Bank of Brooklyn, who became excited yesterday over rumors that there was run on the bank and started an actual run, began today to put their money back. Although bank officials opened the place at 7:30 today, with extra tellers all prepared to continue paying out, only 20 depositors were on hand to withdraw their money. By m. 174 old depositors had returned, bringing back $9,000 of the nearly $2,000,000 withdrawn yesterday. They continued coming back throughout banking hours.
6.August 16, 1929News-PressFort Myers, FL
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Depositors Rush To Put Money Back In Brooklyn Bank
Associated Press) NEW YORK Aug. tors in the Bay Ridge Savings bank of Brooklyn, who got excited yesterday after rumors that there was on the bank and started an actual run, began today to put their money back. Although bank officials opened the place today, with extra tellers prepared to continue paying only 20 depositors on hand to withdraw their were By 174 old depositors had returned, bringing back the nearly withdrawn yesterday. They continued coming throughout banking hours. Rumors run on the bank, believed have been started by man disgruntled because he was refused loan. were enlarged by report that Dr. Maurice president, was dead. It developed that Dr. Lewis was Connecticut hospital having removed from his neck.
7.August 16, 1929Hartford CourantHartford, CT
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Carbuncle Starts Rush: Bank Gets 'It In The Neck'
President's Illness Indirectly Causes Run on Brooklyn Institution
New York, Aug carbuncle on the back of the President's neck today Bay Ridge Savings Bank in Brooklyn Two thousand depositors rushed into the place before they had quieted before some them. rather sheepishly, had gone back and reopened had drawn out Several ago Dr Maurice president went to hospital in have carbuncle removed from the back of his neck False rumors were circulated that he was dead and his death had caused the bank Rumors run started the actual addition, officials the bank today man had tried borrow only $10,000 collatwent nearby speakeasy and said he been unable to get any money because the bank was short of The heads of the bank heard about rumors run To head off they summoned Lewis back by wire and appealed to Joseph state superintendent banks Broderick wrote letter. in which stated that bank examiners had found the institution to in lent the officials posted the entrance But excited today rushed right past Being the bank's officials set about in methodical way to take care of the rush. They hired nine tra tellers, making They attendants at the door hand out withdrawal to the and they brought from the Brooklyn Trust Company in an truck that they had in reserve there Police were sum-
8.August 16, 1929The Daily AmericanSomerset, PA
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CARBUNCLE FEDERAL MEN CAUSE OF RUN RAID AFTER OPEN BUYS" BANK
Starts After President Goes to Hospital-Speakeasy Gossip Says No Banks Refuse DeOut Millions
REQUIRE EXTRA TELLERS
New York, Aug. carbuncle on the back of the President's neck indirectly helped to start run on the Bay Ridge Savings Bank in Brooklyn today. Two thousand depositors rushed into the place and, before they had quieted down-and before some of them, rather sheepishly, had gone back and reopened accounts -they had drawn out $2,000,000. Several days ago Dr. Mauric Lewis, president, went to hospital in Connecticut to have carbuncle removed from the back of his neck, Rumors were circulated that he was dead and that his death had caused a run on the bank. Rumors of a run started the actual run. In addition bank officials said, man who had tried to borrow $16,000 on only $10,000 collateral went to nearby speakeasy and said he had been unable to get any money because the bank was short of funds. The heads of the bank heard about the rumors of run several days ago. To head off, they summoned Dr. Lewis back by wire and appealed to Joseph Broderick, state superintendent of banks. Being warned, the bank's officials set about in methodical way to take care of the rush. They hired nine extra tellers, making total of 17. They stationed attendants at the door to hand out withdrawal slips to the depositors, and they brought over from the Brooklyn Trust Company that they had in reserve there. Police were summoned to keep the milling crowd in order. While the run was at its height, other banks in the vicinity refused accept for deposit money that had been drawn out of the Bay Ridge bank.
9.August 16, 1929The Brooklyn Daily TimesBrooklyn, NY
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more than 1,500 of the bank's withdrew their counts. Early estimates between $4,000,000 and $5,000,000 had been withdrawn today and the total estimated at almost 000. Detectives under direction of Capt. John Ryan of the 10th Inspection District and ten private detectives tracing the originators of the false reports. Other Banks Help In the meantime, each of the 25 savings banks in Group V. comprising the Long Island and Staten Isldistrict, pledged full confidence in the Bay Ridge institution, while $3,000,000 in cash was delivered to the bank yesterday from other institutions, more, due the Bay Ridge Savings Bank. ready in other institutions to be rushed to the bank needed. The peak of the run was reached yesterday at noon when 1,200 persons were line. Appearance of Maurice Lewis, president. falsely reported dead: the pleas of to their money remain in the sight millions carted into the institution: the of Joseph Broderick, State Superintendent of Banks, giving assurance of solvency: had the proper effect and at closing time there were fewer than 200 in line. Many Reopen Accounts Many who had withdrawn their savings returned before the day was and reopened their accounts. One man and his wife, who with. drew their deposits just o'clock, experienced change of mind before they left the building and asked the paying teller they might redeposit the money. They were told to turn after o'clock today. Although not confirmed, there report the original rumors based statement disgruntied man attempted to get loan of $16,000 on his home valued at $10,000. He said to have gone into nearby speakeasy and passed the afternoon in drinking and talking, declaring the bank unsound, that no money loan on good curity and that Dr. Lewis dead. Dr. Lewis at Lake resting after minor operation for removal of carbuncle. When the report of his death came his ears, Dr. Lewis returned. arriving late Wednesday. He was his desk early yesterday seeing the crowds about the doors, ordered the bank to open hour and quarter before the usual time. James president of the Fort Hamilton Savings Bank, business rival, visited the Bay Ridge yesterday at the height of the and opened personal account $1,000. At his bank. former customers of the Bay Ridge bank were told to put their money back their institution. Prospective customers of department National Bank, which branch street the Bank, were treated president Lewis deposit disposal bank said another $100,000 available him the sufficient cash available for all mands.
Takes Hand The Carol Norwegian lobby and made alone. comnight affair. against interest
MAID HELD IN KILLING colored the
10.August 16, 1929The Brooklyn Daily TimesBrooklyn, NY
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REDEPOSITS ON BANK than the bank's more depositors withdrew their counts. Early estimates between and had been were corrected today and withdrawn the total estimated almost under direction of Capt John Ryan of the 10th Inspection District and ten private detectives tracing the originators of false reports. Other Banks Help In the each of the banks in Group comprising the Long Island and Isl. and district. pledged full confidence the Bay Ridge Instituwhile in cash was delivered the bank yesterday from other institutions. $11,000,000 due the Bay Ridge Savings Bank. other Institutions to be rushed to the bank needed. The peak of the run was yesterday noon when perwere line. Appearance Maurice Lewis, president falsely reported dead: the pleas merchants let their money remain in the sight millions being carted into the Institution: the letter of Joseph Banks, giving assurance solvency all had the proper effect and closing time there were than 200 line. Many Reopen Accounts Many had withdrawn their savings returned before the day was reopened their accounts. One man and his wife, who withdrew their deposits just experienced change mind before they left the building and asked paying teller they might redeposit the money. They told to after o'clock today. Although confirmed, report original rumors were statement loan his home valued He said gone into and passed the nearby drinking talking the bank that money loan on good that Dr. Lewis was dead Lewis Lake Placid resting after minor removal the report his death came to his Lewis arriving Wednesday He at his desk early seeing crowds about doors, bank to hour and quarter before the time James president Hamilton Savings rival. visited the Bay Ridge the height of opened personal account his former the Bay Ridge their money back institution Prospective customers of the department National Bank Duffy. president masons another available for
Clergyman Takes Hand Peterson lobby and begged largely made their money Broderick resulting in depositors
MAID HELD KILLING
11.August 16, 1929The Spokesman-ReviewSpokane, WA
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RUN ON BANK
Rumor of President's Death Causes Big Withdrawal.
By Associated Press. Aug. 15.-A buncle on back of the presineck indirectly helped dent's start today the Bay Ridge Savings thousand depositors rushed into the place, and before had quieted them, rather had come back and had drawn out Several days Dr. Maurice T. president, went to hospiLewis, Connecticut have carbuncle removed rumors that dead and that death had run of on started
Tried to Head It Off.
The of the bank heard they days Dr. and appealed Joseph Broderick, of Broderick wrote letter, which he stated bank found and the bank posted the enbut excited depositors trance, rushed right past warned, officials set Being about methodical take the hired nine care tellers, total They the door hand out withdrawal the And they brought over from the Brooklyn Trust in truck pany 000 that they had in there. Police to keep the milling crowd order.
Plenty of Money. went off smoothly nobody was worried or delayed getting his money, and from Dr Lewis that the was that there and that the bank was perfectly willing them accounts they declose their By time one of the 17 the run height. other banks the vicinity refused to Accept for deposit money that had been of the Bay Ridge bank The and
12.August 16, 1929Appeal-DemocratMarysville, CA
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GOSSIP CAUSES 1200 TO JOIN RUN ON BANK
BROOKLYN, N. Y., Aug. 16. disgruntled Norwegian whose gossip in a speakeasy caused 1200 epositors to storm the doors of Bay Ridge Savings bank for their money yesterday, was sought by police and bank detectives today. Refused a $16,000 loan on a $1000 house, he is said to have told riends in a speakeasy that the Bay Ridge Bank was unsound. A report that the bank's president Maurice Lewis, had died also was irculated widely. The Bay Ridge institution which as built up deposits of 31,000,000 nostly with a Scandinavian clienele, was the scene of a great run hen the gossip spead. All receivng tellers switched to paying ages as depositors crowded into he institution. Armored trucks rought $3,000,000 cash from othbanks. Twenty-six banks pubshed notices advising depositors ot to withdraw their funds from he Bay Ridge institution. Leaders the neighborhood mounted tales in the bank and advised deositors to leave their money here it was drawing interest. Finally the crowd left, and toay business at the bank was reorted "as usual."
13.August 16, 1929Yonkers StatesmanYonkers, NY
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Seek Gossiper
Speakeasy Talk Blamed for Near-Riot
International News Service NEW YORK, Aug. 16-Authorities today were investigating the report that disparaging remarks in speakeasy by man refused loan were responsible for the run on the Bay Ridge Savings Bank Fifth and 35th Street Avenue Brooklyn, yesterday. The bank paid out over $1,000,2,000 depositors Another rumor believed to have aided in starting the run, was false report of the death of Mau. rice Lewis, president of the bank.
Officials of the bank have sent private detectives to investigate the report that who had refused loan of $16,000 on $10, 000 house had gone to speakeasy and spread the reports of the president's death and false information tending to show the bank was insolvent.
The depositors, most of whom Nordic extraction, besieged the bank all day. ordered closed by Lewis, who, however, told depositors would open today. are shutting the doors now, it being our usual closing hour," an officer of the bank the long line of depositors waiting to withdraw their savings. 'When you go out on the street, and find your friends not being admitted don't tell them the bank is closed We will open at tomorrow and all will be paid." State Superintendent of Banks Joseph Broderick today said that fine of $1,000 may be imposed upon person convicted of circulating information defamatory to bank.
14.August 16, 1929Bartlesville Examiner-EnterpriseBartlesville, OK
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Bits of News Plucked Breezy From All Corners the World the Telegraph the Associated Press) on the of President start on the Bay Ridge savings in Brooklyn. Lewis' visit hospital brought rumors of his $2,000,000 was withdrawn depositors est compact extant is believed in possession of Captain dates back to the stone Wenning. and winsome Miss says, Bearskin used about the equipment as her flapper sister there no mirror.
Raiders of farm found larger poster bearing of the Lord's praycopy over three barrels mash another with the Psalm over the still.
NEW Dick Antarctic radioed Edgar Allan Poe society
15.August 16, 1929The Valdosta Daily TimesValdosta, GA
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farm prayer and thing than an of Byrd the his for after Byrd Wiregrass Farmer at Ashburn to The celebration is going be one of the big events of the year in Cordele and Valdosta is going to be well represented.
REDEPOSIT CASH New York. Aug. 16. positors in the Bay Ridge Savings bank of Brooklyn. who got excited yesterday over rumors that there run on the bank to and thereupon started an actual run, began today to put their money back Although bank officials opened the place at 7:30 a. m. today, with extra tellers prepared to continue paying out, only 20 depositors were on hand to with draw their money By 9 m. 174 old depositors had returned. bringing back $9.000 of the nearly $2,000,000 withdrawn yesterday.
16.August 17, 1929Drumright Weekly DerrickDrumright, OK
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DEPOSITORS RETURN AFTER RUN ON BANK
Begin Putting Money Back In Brooklyn Institution As Rumor Is Discredited
NEW YORK, Aug. 17 Depositors in the Bay Ridge Savings bank of Brooklyn, who became excited yesterday over rumors that there was a run on the bank and thereupon started an actual run. began today to put their money back.
Although bank officials opened the place today prepared to continue paying out money only 20 depositors were on hand to make withdrawals. Within an hour and a half 17 old depositors had returned, bringing back $9,000 of the nearly $2,000,000 withdrawn yesterday. They continued coming back throughout morning hours.
Rumors of a run on the bank, be lieved to have been started by a man disgruntled because he was refused a $16.000 loan on $10,000 collateral. were enlarged by a report that Dr. Maurice T. Lewis, president, was dead. It developed that Doctor Lewis had been in a Connecticut hospital having a carbuncle removed from his neck.
17.August 17, 1929Brooklyn EagleBrooklyn, NY
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PROBE TO FIND BAY RIDGE BANK RUN GOSSIPER
Depositors Are Summoned in Quest for Rigid Prosecution Pledged.
District Attorney Charles S. Dodd today that had summoned number depositors of the Bay Ridge Bank to appear morning and tell what they can the rumors that led the recent on the bank. Dodd said he hopes to trace dow! the author the rumor in this way and obtain evidence of criminal act which will lay before the Grand Jury. Definite ending of the "run" was indicated the bank opened for business this Officers said that only two persons waiting the Much of the money withdrawn Thursday came back yesterday. but officers the amount could definitely fixed, since was impossible segregate redeposits from regular business Apparently the only loss resulting the of interest the those who withdrew part their deposits. They will lose the interest three months what timated drawals. Dodd's follows: spread false and baseless that especially cruel cause the wrong did upright, hard-working people. Bay Ridge Savings the financial well sufferers this rumor the their money, the interest which they worked accumulate. for the covered by for which Nothing will be left reveal rise found will to the limit of the
18.August 17, 1929Brooklyn EagleBrooklyn, NY
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had DODD PROBE pleted. they fliers for TO FIND BAY RIDGE ney. RUN GOSSIPER CAPTAIN INJURED
Depositors Are Summoned in CIGAR CAUSES Quest Rumor-Monger. Rigid Prosecution Pledged.
District Attorney Charles S. Dodd today that had summoned number depositors of the Bay Ridge Savings Bank appear office Monday morning and tell him what they can of the rumors that led to the recent unwarranted the bank. Dodd said hopes trace down the author of the rumor in this way and to obtain evidence of criminal act which he will lay before the Grand Jury Definite ending of the "run" was indicated when the bank opened for this Officers that only two persons waiting at the window. Much the money on Thursday back yesterday, officers pointed out the amount could not be definitely fixed, since it was segregate redeposits from regular business Apparently the only loss resulting from the run loss of interest on the part of who withdrew their deposits. They will lose interest for the current three months somewhat $20,000 timated of $2,000,000 drawals. Dodd's statement follows: who spread that false and baseless crime that was especially cruel because the wrong did to many upright, hard-working people. Bay Ridge Savings one the financial institutions and well managed. The this were who, through the their money, lost the interest which they had worked accumulate. "The responsible for the that by law which provided. Nothing will be left the one who rise the and if he out, prosecuted the limit the
19.August 17, 1929The Modesto BeeModesto, CA
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Disgruntled Man Starts Run On Brooklyn Bank
B ROOKLYN, N. Y., Aug. 17.(IP)-A disgruntled Norwegian whose gossip in a speakeasy caused 1200 depositors to storm the doors of the Bay Ridge Savings Bank for their money Thursday, was sought by police and bank detectives to-day. Refused $16,000 on $10,000 house, he is said to have told friends in speakeasy that the Bay Ridge bank un sound. report that the bank's president, Maurice had died also was circulated widely. The Bay Ridge institution, which has built up deposits of $31,000,000. mostly with Scandinavian clientele, was the scene of great run when the gossip spread. All receiving tellers switched paying cages as depositors crowded into the institution. Armored trucks brought $3,000,000 cash from other banks. Twenty banks blished notices advising depositors not to withdraw their funds from the Bay Ridge institution. Leaders of the neighborhood mounted tables in the bank and advised depositors to leave their money where it was drawing interest. Finally the crowd left. and today business at the bank was reported "as usual.'
20.August 23, 1929The Brooklyn Daily TimesBrooklyn, NY
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Suitor Kills Girl and Himself Inflamed by Her Cooled Love
Poughkeepsie Baker Lost Affections of Edith Clum When She Moved to Brooklyn.
Friendship for a young with city manners that made her former sweetheart seem dull, caused Edith Clum, of 477 Clinton st., to break her engagement to Paul Larsen, 23, Dane, who worked as a baker in Poughkeepsie. But Larsen. set in his ideas. last night balanced the scales, he thought. by killing Miss Clum and FINDS then sending bullet his own brain as the girl lay dying on the floor. Miss Club taken to Long IslRUN ON BANK College Hospital but only lived after arrival. Lardeath was Larsen. who 23, fell in love with the Edith when he was Rumor, Which Started in July, boarder parents' home Renewed With Success, Poughkeepsie He gave the girl ring and they planned to be married some Says Official. time Then to Copenhagen to his family June While in The recent run on the Bay Ridge Denmark he received letter which Savings Bank the result of broke their same deliberate plot, originating more than ter that taken from Edith's month according stateelenched hand she died last night. ment today by District Attorney
Final Letter The letter read: "Dear Paul: "Just few lines let know am K. am all through have new boy friend. am very sorry to tell you. have seen you for 80 long that lost all my love for you. Well. have more so close. sending you back picture. Please send mine. Larsen over the jilting but returned to job Poughkeepsie bakery. never once trying to communicate with Edith. From former friends of the girl. who had moved to Brooklyn her family last April, Larsen heard reports on Edith's new simply called He at work in Poughkeepsie early yesterday morning. chatting and joking with his brothers, Fred and Einer. They did not know planned coming New York. But o'clock yesterday he peared at the Clum apartment on Clinton Mrs. Minnie Clum, the mother. welcomed him. Edith had not returned from work, and Laraccepted Mrs. Clum's invitation He seemed depressed. Mrs. Clum later told police. and appeared to drinking At o'clock Edith arrived from her work the Mighty Fine Products Co., st. and Third ave. She greeted Larsen coolly and he asked her step the parlor Mrs. Clum busy her kitchen. other and sisters of Edith playing about the Presently there An instant later Larsen came into the kitchen. In hand he held the smoking calibre have you Mrs. Clum cried tried kill Larsen said and then
Mother Catches Slayer Mrs. Clum caught him the street Her cries attracted and while they running up Larsen broke free and ran back the house. There another report and found Larsen lying on the floor beside the body of the girL bullet had penetrated his brain. John McGovern station Dr. Kunzrock of Long Island College Hospital took the girl to the hospital. She died shortly after arrival Appearing the verge of lapse, family and the Larsens had been friendly for years and that Paul visitor. He had been attentive an older sister Edith. she said but the family did not he marry. and his attentions were discouraged. When the affair with Edith began bud she young no particular attention was paid untill matters assumed serious turn. Both bodies are Kings County Hospital. and no funeral arrangements been made. At the hospital said brother route from Poughkeepsie to claim the body of Larsen. That Larsen coolly planned the double killing letter his brother Rey in Dear Brother: Open my suit you find for you good give the others out the names.
