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RUN ON A BANK. e Rumors of a Deficit are Declared to be Abso* lutely False. Buffalo, May 9.-There was a run on the Fidelity Trust Company today. The board of trustees of the institution has issued a statement which alludes to rumors- current during the last week that there was a large deficit in one of the banks, and pronounces them utterly false. The bank offers a reward for the person originating the rumor.
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RUN ON A BANK. Rumor of Defalcation Causes Stampede of the Depositors. Buffalo, May 9.-Owing to a rumor of heavy defalcations there was a run on the Fidelity Trust Company today. The trustees denounced the shortage story to be absolutely false and say there is no defalcation whatever and company has four million available to provide against any demands.
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RUMOR OF SHORTAGE LEADS TO RUN ON BANK Buffalo, May 9.-On a rumor of heavy defalcations there was a run on the Fidelity Trust company : today. The trustees denounced the shortage story as absolutely false. and say there is no defalcation whatever.
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RUN ON BUFFALO BANK Rumors of a Deficit or Defalcation Caused a Stampede of Depositors. Buffalo, N. Y., May 9.-There was a run on the Fidelity Trust company today. The board of trustees of the institution has issued a statement which alludes to rumors current during the last week that there was a large deficit in one of the banks, and says: "On Thursday and Friday the rumor took the form of a statement that the defalcation existed in the Fidelity Trust company of Buffalo. It was said that the president had used $400,000 of the money. Another statement was that George L. Williams had used $400,000 of the money of the company." The results thus far have been the withdrawals of some accounts, aggregating possibly $100,000. The bank has offered a reward for information disclosing the name of the person originating the rumor. The trustees pronounce the story to be absolutely false in every particular. Neither Mr. Forman nor Mr. Williams nor any other trustee or official owes to the bank a single dollar. There has been no defalcation of any kind, and the company has $4,000,000 to provide against any demand. The run had almost ceased when the trust company closed its doors for the day. Owing to the known stability of the company, the presidents of the other banks in the city volunteered the announcement that they stand ready to deposit $1,000,000 in the Fidelity bank at once.
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RUN ON A TRUST COMPANY Fidelity of Buffalo Experiences Dimculty Due to Rumors of Defalcation. | BUFFALO, N. Y., May 9.-There was a run on the Fidelity Trust company today. The board of trustees of the institution has issued a statement which first alludes to rumors current during the last week, but there was a large deficit in one of the banks, and says: On Thursday and Friday the rumor took the form of a statement that the defalcation existed in the Fidelity Trust company of Buffalo. It was said that the president had used $400,000 of the money. Another statement was that George L. Williams had used $400,000 of the money of the company. The results thus far have been the withdraway of some accounts aggregating possibly $100,000. The bank has offered a reward for information disclosing the name of the person originating the rumor." The trustees pronounce the story to be absolutely false in every particular. Neither Mr. Forman nor Mr. Williams nor any other trustee or officer owes the bank a single dollar. There has been no defalcation to the extent of a dollar, they say, and the company has $4,000,000 available to provide against any demand.
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RUN ON BUFFALO BANK. But Panic Is Averted by a Proffered Deposit of $1,000,000. Buffalo, May 9.-There was a run on the Fidelity Trust Company to-day. It was caused by a rumor of a defalcation which has been afloat about two weeks. Owing to the known stability of the company, the presidents of other banks in the city, without any solicitation on the part of the Fidelity company, volunteered the announcement that they stood ready to deposit $1,000,000 in the Fidelity Bank at once. Although the usually large number of withdrawals on Saturdays was increased to-day, the line had dwindled, when the bank closed its doors, to not more than a score of persons who desired to draw their money. In consequence of this President Forman, who had intended keeping the doors open until evening, decided to close at the usual hour. A statement issued by the trustees pronounced the rumor absolutely false, and added: The company never was stronger than it is today. To provide against any demands that may be made we have $4,000,000 of cash available, and can readily have $3,000,0000 more the moment its use becomes necessary. The public can rest satisfied that there is no occasion for any anxiety whatever touching the company or its absolute solvency. It is earning its dividends of 12 per cent per annum, and carrying about as much more in surplus.
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RUN ON FIDELITY TRUST CO. Startling Rumors Cause Depositors to Withdraw. Buffalo, N. Y., May -There was a run on the FideMty Trust Company to-day, The board of trustees of the institution has issued a statement which first alludes to rumors current during the last week that there was a large deficit in one of the banks, and says: "On Thursday and Friday the rumor took the form of a statement that the defalcation existed in the Fidelity Trust Company of Buffalo. It was said that the president has used $400,000 of the money. Another statement was that George L. Williams had used $100,000 of the money of the company. The results thus far have been the withdrawal of some accounts aggregating possibly $100,000. The bank has offered a reward for information disclosing the name of the person originating the rumor." The trustees pronounce the story to be absolutely false in every particular. Neither Mr. Forman nor Mr. Williams nor any other trustee or officer owes the bank a single dollar. There has been no defalcation to the extent of a dollar, they say, and the company has $4,000,000 available to provide against any demand. The run had almost ceased when the trust company closed Its doors for the day. Owing to the known stability of the company, the presidents of the other banks in the city volunteered the announcement that they stand ready to deposit a million dollars In the Fidelity Bank at once.
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RUN ON A BUFFALO TRUST CO. RUMORS OF A DEFALCATION ALARMED DEPOSITORS. The Fidelity Trust Company's Office Filled to the Doors With Men Demanding Their Money-The Company Offers $5,000 to Leorn the Source of Rumor. BUFFALO, May 9.-A run was started on the Fidelity Trust Company here this morning as a result of rumors which have been circulated in Buffalo for about three weeks. The run is the second one within two years in the history of the institution. and like the first run, the bank officials assert, will be weathered without trouble. The run to-day started at about 10 o'clock and was at its height shortly before noon, when the bank was crowded to the doors with persons who were anxious to take out their money. The rumors which started this run were to the effect that there had been a large defalcation in some bank in this city. The sum that was mentioned was $400,000 The first story was that the defalcation consisted of trust funds. The rumor died down, then it was revived, and this time the name of the Fidelity Trust Company was mentioned. It is believed that the run made on the institution upward of a year ago had its effect in starting the second run. The first run also originated from a baseless rumor involving a branch bank which the company had at the PanAmerican Exposition. A reward of $5,000 has been offered by President George V. Forman of the Fidelity Trust Company for information leading to the source of the present rumor. A meeting of the trustees of the bank was held immediately after the bank was closed at noon to-day. After the meeting the following statement was issued: For some three or four weeks persistent rumors have been in circulation to the effect that there was a large defalcation in some bank in this city. Different banks have been mentioned as involved. On Thursday and Friday the rumor took the form of a statement that the defalcation existed in the Fidelity Trust Company of Buffalo. It was said that the president had used $400,000 of the money Another statement was that George L Williams had used $400,000 of the money of the company The results thus far have been the withdrawal of some accounts aggregating, possibly, $100,000. The bank has offered a reward for information disclosing the name of the person originating the rumor The story is absolutely false in every particular. Neither Mr. Forman nor Mr. Williams nor any other trustee or officer owes the bank a single dollar. There has been no defaleation to the extent of a dollar. Every account is in perfect shape. The company never was stronger than it is to-day. To provide against any demands that may be made we have $4,000,000 of capital available. and can readily have $3,000,000 more the moment its use becomes necessary. The public can rest satisfied that there is no occasion for any anxiety whatever touching the company or its absolute solvency. It is earning its dividends of 12 per cent. per annum, and carrying about as much more to surplus.
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SHORT SPECIALS. The Fidelity Trust company of Buffalo withstood a run caused by circulation of rumors. The Wisconsin assembly passeda bill to prohibit bucket-shops or bucketshopping in the state. The Bookbinders' union of Chicago is made defendant in suits for $35,000 damages growing out of strikes. Admiral Walker has returned from an inspection of the Panama canal route and reports it in excellent condition. A. D. Davidson. of Duluth, and his associates have closed a deal for 3,000,000 acres of Canada land, paying $12,000,000. Fireman Charles Bowers was killed and Ernest Shelton fatally injured in a boiler explosion at the Indianapolis hominy mills. A fireman employed in the post office department has been dismissed for making reckless charges against his superior officers. Conductor Frank Faulkes, Fireman Yerden and John T. Glynn, a newsboy, were killed in a Mohawk and Malone railorad wreck near Malone, N. Y. Earl B. Smith, of the graduating class of the high school at Dixon, III., died from injuries received by being struck with a discus while practicing for a field meet. J. F. Kuntz fatally shot his wife and killed J. E. Walsh, a wealthy contraetor, of whom he was jealous, at Pittsburg. Mrs. Kuntz had instituted proceedings for divorce. John C. Havemeyer challenges trade unions in Yonkers, N. Y., to defend their policy in public, offering to pay expenses of the "quiz" if he is allowed to do the questioning. The head and arm of a woman were found floating in the Yellowstone river, near Gardner, Mont.. leading to the belief that a murder was committed in Yellowstone park. The Chicago, Indiana and Michigan Traction company, capital $500,000, was incorporated at Indianapolis. An independent trolley line with Chicago as its terminus is being built. The assertion is made in New York that Daniel J. Sully has made $6,000,000 in recent raid on cotton market. He will neither confirm nor deny the report, and is thought to have big financial powers behind him. T. P. O'Connor writes that the world at large and England especially is just beginning to realize the kingly qualities of Edward VII., and ascribes much of his strength to his wide observation while prince of Wales.
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THIS AND THAT. Crisp Items of Information From Every Clime. An explosion of dynamite blinded Thomas Angus of Stanhope, N. J. A false report started a run on the Fidelity Trust company at Buffalo. A heavy defalcation was alleged. An infernal machine was found aboard the big Atlantic liner Umbria. The Mafia is said to have been in the plot- to wreck the ship. Twenty-five thousand members of the National Association of Brick and Tile Makers of America are on strike in Pennsylvania, Ohio and West Virginal. Cornelius Badger, Wooster, O., deliberately plunged into a well headforemost. The body was found sticking feet upward in several inches of mud. Despondency. Jessie Morrison was declared guilty of killing Mrs. Olin Castle three years ago at the Castle home in Eldorado, Kan. The supreme court upheld the decision, which means 20 years' imprisonment.