13714. Broadway Central Bank (New York, NY)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 8, 1927
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
8e37c90cba289d24

Response Measures

None

Description

Multiple contemporaneous newspapers report a run beginning Jan. 8, 1927 after three officers were arrested for embezzlement. The bank paid out large sums (imported $1,000,000; later $2,000,000 displayed) but closed its doors during the run and was subsequently sold to Central Mercantile Bank & Trust Company (per articles Jan. 11), i.e., a permanent transfer/closure to protect depositors. Classified as run → suspension → closure (sale). Dates derived from publication dates and article text. 'Clerks too tired' explains temporary closing, but sale indicates permanent change of ownership.

Events (3)
1. January 8, 1927 Run
Cause
Bank Specific Adverse Info
Cause Details
Run was triggered by arrests/embezzlement of three bank officials (cashier, assistant cashier, vice president) who allegedly stole/embezzled large sums ($100,000–$400,000 reported).
Measures
Paid depositors presenting withdrawal slips; imported $1,000,000 in cash from other banks; over $2,000,000 in bills displayed in window; Federal Reserve and Chemical/other banks sent funds; officials later arranged sale to Central Mercantile Bank & Trust.
Newspaper Excerpt
A million-dollar run on the Broadway Central Bank ... ended late this afternoon when the bank closed its doors because the clerks were tired.
Source
newspapers
2. January 8, 1927 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed its doors during the run (clerks 'tired' and to stop further payouts) after the embezzlement and arrest of three officials; temporary suspension of payments/closure of lobby to stem outflows.
Newspaper Excerpt
Broadway Bank closes to end run. Clerks too tired to continue when $1,000,000 is withdrawn after arrests.
Source
newspapers
3. January 11, 1927 Other
Newspaper Excerpt
Central Mercantile Bank and Trust ... had purchased the Central Bank, assuming all of its liabilities ... two million dollars in cash reposed on table in the front lobby ... to stop run on the Central Bank which started with news of the arrest of three officials charged with embezzlement . . . the institution had been purchased by Central Mercantile Bank and Trust Company, with resources over $50,000,000 . . . the bank had been taken over by the Central Mercantile Bank & Trust Company, and the excitement subsided and deposits began to replace withdrawals. (multiple articles Jan. 11).
Source
newspapers

Newspaper Articles (22)
1. January 9, 1927 The Goldsboro News Goldsboro, NC
Article from The Goldsboro News, January 9, 1927

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MILLION DOLLAR Officers Declare New York Institution is in Safe Condition NEW YORK, Jan. mil. convince the people of the countrylion dollar run on the Broadway Cen side of the damage do as I've worktral Bank, from whose coffers three ed to recruit them to my forces enemployees are alleged to have em gaged in destroying community probezzled $100,000 lost in stock specu- So said Mail Order Catalog lation ended late this afternoon when read over sucker-list of some the banks closed their doors be- housands of Wayne County farmers cause the clerks were tired. and Goldsboro citizens who have har About 250 persons remnant of the him in and aided carlier crowd of 2,000 shouted dis. his campaign for years. And approval as the doors were locked ontinued: Chas Heydt, told the depositors barning me, not have that the staff was and there killed the idea represent. My kind was no use in paying out more legion. Millions of me scatmoney as the bank solvent. over the country- many healTo meet the emergency caused by by leeches fattening the gullithe run the bank imported $1,000,00* bility and the thoughtlessness of the in cash from other banks. The offi thousands who seek to save penntes dals maintained that the bank has at the expense of community welfare. not been harmed by the So long as your people receive me employees since all losses wer and my kind into their homes and gulled by the pretty things covered by bonds.

2. January 9, 1927 Evening Star Washington, DC
Article from Evening Star, January 9, 1927

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BROADWAY BANK CLOSES TO END RUN Clerks Too Tired to Continue When $1,000,000 Is Withdrawn After Arrests. By the Associated Press. NEW YORK, January 8-A million-dollar run on the Broadway Central Bank-from whose coffers three employes are alleged to have embez zled $100,000 lost in stock, speculation-ended late this afternoon. when the bank closed its doors because the clerks were tired. About 250 persons. a remnant of the earlier crowd of 2,000. shouted disap proval as the doors were locked. Charles W. Heydt, vice president, told the depositors that the staff was tired and there was no use in paying out more money, as the bank was solvent. To meet the emergency caused by the "run" the bank imported $1,000.000 in cash from other banks. The officials maintained that the bank has not been harmed by the defalcations of its employes, since all losses were covered by bonds. The three men arrested for the al leged enfbezzlement were Harry Rebholz, cashier, of Union City, N. J.: George H. Cook, assistant cashier. and Anthony Giesat, a vice president. The specific charge at the arraign ment was larceny of $10,000. but the court was told that the total would be more than $100,000. State bank examiners, officials of the bank said, had made examinations of the books during the day and pronounced the institution in a satis. factory condition.

3. January 9, 1927 Daily News New York, NY
Article from Daily News, January 9, 1927

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20 POLICE KEEP ORDER IN CROWD STORMING BANK (Continued from page 3, col. 5) this transaction are settled by the courts, the fund will be held and the bondholders must wait to find out whether they will get it, or whether it will go into the general assets. Cloyd La Porte, of Root, Clark, Howland & Ballantine, counsel for the bondholders' committee, told the bondholders that, in about fifty issues involving buildings where interest had been defaulted, foreclosure proceedings might be necessary. With thirty law firms untangling affairs of G. L. Miller & Co. startling disclosures loom. Follow developments in the Pink and other editions of THE NEWS tomorrow. $300,000 Defalcation Starts Run On Bank Alarmed by the defalcation of three officials of the Broadway Central bank, at Broadway and 97th st., who are-charged with taking in the old of $300,000 of the bank's funds, hundreds of positors yesterday stormed the institution. Early in the day it was reported the bank would remain open until late at night. But the doors closed at 4:45 p. m. Fourteen patrolmen, under Capt. Archie McNeel of the West 100th st. station, and six plainclothes men stayed on duty at the building, keeping the crowd in order. More than $800,000 in cash was brought up from the Federal Reserve to stem the run, and every depositor presenting a withdrawal slip was promptly paid. Harry Gorham, adjuster of the National Surety company, said the defalcation was covered by a heavy blanket bond, and that the bank will not lose a penny. He said the defalcation figure will not pass $300,000. The three accused officials are Anthony Ziesat, 36, vice president and note teller, of 11-12 198th st., Hollis, L. I.; Harry Repholz, 37, cashier, of 48 Hudson ave., Union City, N. J., and George Cook, 29, assistant cashier, of Baldwin, L. I. Yesterday the three were arraigned before Magistrate Earl Smith in West Side court. The men were held without bail for a further hearing next Tuesday. (Other picture on page 1)

4. January 9, 1927 Daily News New York, NY
Article from Daily News, January 9, 1927

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20 POLICE KEEP ORDER IN CROWD STORMING BANK (Continued from page 3, col. 4) whether it will go into the general assets. Cloyd La Porte, of Root, Clark, Howland & Ballantine, counsel for the bondholders' committee, told the bondholders that, in about fifty issues involving buildings where, interest had been defaulted, foreclosure proceedings might be necessary. With thirty law firms stangling affairs of G. L. Miller & Co. startling disclosures loom. Follow developments in the Pink and other editions of THE NEWS tomorrow. $300,000 Defalcation Starts Run On Bank Alarmed by the defalcation of three officials of the Broadway Central bank, at Broadway and 97th st., who are charged with taking in the 0 od of $300,000 of the bank's funds, hundreds of positors yesterday stormed the institution. Early in the day it was reported the bank would remain open until late at night. But the doors closed at 4:45 p. m. Fourteen patrolmen, under Capt. Archie McNeel of the West 100th st. station, and six plainclothes men stayed on duty at the building, keeping the crowd in order. More than $800,000 in cash was brought up from the Federal Reserve to stem the run, and every depositor presenting a withdrawal slip was promptly paid. In all, more than $1,000,000 was paid out. Harry Gorham, adjuster of the National Surety company, said the defalcation was covered by a heavy blanket bond, and that the bank will not lose a penny. He said the defalcation figure will not pass $300,000. The three accused officials are Anthony Ziesat, 36, vice president and note teller, of 11-12 198th st., Hollis, L. I.; Harry Repholz, 37, cashier, of 48 Hudson ave., Union City, N. J., and George Cook, 29, assistant cashier, of Baldwin, L. I. Yesterday the three were arraigned before Magistrate Earl Smith in West Side court. The men were held without bail for a further hearing next Tuesday. (Other picture on page 1) "Stage Tragedies- On and on." by Burns 15, second seetion.

5. January 9, 1927 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, January 9, 1927

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BANK CLERKS TIRE PAYING OUT FUNDS Tellers Grow Weary and Close Doors of Institution: Cash Supply Adequate NEW YORK, Jan. mildollar run on the Broadway Central bank-from coffers three are alleged to have embezzled $100.000 lost in stock ed late this when the bank closed its doors the clerks were tired. About 250 persons, remnant of the earlier 2,000, shouted disapproval as the doors were locked. Chas. W. Heydt, vice-presIdent, told the depositors that the staff tired there was use in paying out more money as the bank was To meet the caused by the "run" the bank Imported $1,000.000 in cash from other banks. The officials maintained that the bank has not been harmed by the defalcations ered by bonds. The three arrested for the alleged were Harry hols, cashier. of Union City, George H. Cook, assistant cashier, and Anthony Glesat. vice-president. The specific charge at the arraignment was larceny $10,000 but the told that total would than State bank officials of had made of the books during the day and pronounced the Institution in satsifactory condition.

6. January 9, 1927 The Knoxville Journal Knoxville, TN
Article from The Knoxville Journal, January 9, 1927

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Bank Pays Out Funds Until Clerks Tire; Still Sound NEW YORK. Jan. 8 (AP) million dollar run on the Broadway Central bank- from whose coffers thre ployers are alleged to have embersied $100,000 lost ni stock speculation -ended late this after non when the bank closed its doors because the clerks were tired. About 250 persons, remnant of the earlier crowd of 6,000 shouted disapproval as the doors were lock ed. Charles W. Heydt vice president told the despositors that the staff was tired and there was no use in paying out more money as the bank was solvent. To meet the emergency caused by the the bank imported 1,000,000 in cash from other banks. The officials maintained that the bank had not been harmed by the of its employes. since all losses were novered by bonds.

7. January 9, 1927 Evening star Washington, DC
Article from Evening star, January 9, 1927

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BROADWAY BANK CLOSES TO END RUN Clerks Too Tired to Continue When $1,000,000 Is Withdrawn After Arrests. By the Press lion-dollar run on the Broadway Cen tral Bank whose coffers three employes are alleged to have embez zled $100,000 lost in stock, specula tion-ended late this afternoon. when the bank closed its doors because the clerks were tired. About 250 persons remmant of the earlier of 2,000 shouted disap proval as the doors were locked Charles W Heydt. vice president, told the depositors that the staff was tired and there was no use in paying out more money as the bank was solvent To meet the emergency caused by the "run" the bank imported $1,000 in cash from other banks The officials maintained that the bank has not been harmed by the defalcations of its employes, since all losses were covered by bonds The three men arrested for the al leged enfbezzlement were Harry Reb holz. cashier. of Union City, George Cook assistant cashier and Anthony Giesat, vice president The specific charge at the arraign ment was larceny of $10,000. but the court was told that the total would be more than $100,000 State bank examiners. officials of the bank said, had made examinations of the books during the day and pro nounced the Institution in satis factory condition.

8. January 10, 1927 The Washington Daily News Washington, DC
Article from The Washington Daily News, January 10, 1927

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Arrests Start Bank Run NEW YORK-Hearing that three officials of the Broadway Central Bank had been arrested on a charge of embezzling $10,000, customers started a run. The bank had to send for $1,000,000 to meet the demand.

9. January 10, 1927 The Houston Post Houston, TX
Article from The Houston Post, January 10, 1927

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Bank Doors Shut As Clerks Tire Run In $1,000,000 NEW YORK, Jan. the Broadway coffers Central alleged have three $100,000 Saturday bank closed its doors when clerks tired." 250 persons, remnant About earlier crowd 2000, the locked. disapproval president, Charles told the that the staff tired paying as the bank was money caused by To meet the emergency the the officials the harmed defalcations since all losses were employes, bonds. men for the The three cashier of Union George assistant cashier, Giesat, presiand The specific charge raignment $10,000, but that the total officials of the had examinathe books during the day and tions the isfactory condition.

10. January 10, 1927 Kirksville Daily Express and Kirksville Daily News Kirksville, MO
Article from Kirksville Daily Express and Kirksville Daily News, January 10, 1927

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TODAY'S MARKET Produce Market # St. Louis, Jan. 10. Eggs: First country candled 38 cents. Butter Creamery extras 49 cents; standards 47 cents; firsts 38 cents: seconds 36 cents. Poultry Hens 19 @ 23 1-2 cents; turkeys 33 @ 39 cents; spring chickens 28 cents: ducks 23 @ 25 cents; geese 15 @ 17 cents; cocks 15 cents. East St. Louis, Jan. 10. Hog receipts 19,500. Market 10 to 15 low- 250-350 lbs. $11.65 to $11.90 200-250 lbs. 11.75 to 12.05 160-200 lbs. 11.75 to 12.15 130-160 lbs. to 12.15 90-130 lbs. 11.00 to 11.55 Packing SOWS to 10.90 Cattle receipts 6500. Market slow. Beef steers $ 7.75 to 9.00 Light yr. and heifers 6.00 to 8.00 Beef cows 5.00 to 6.00 Cutters 3.60 to 4.60 Vealers 14.75 to 15.00 Heavy calves 6.50 to 8.00 Stockers and feeders 7.00 to 8.00 Sheep receipts 1,000. Maket stea- Top fat lambs $.12.75 Bulk fat lambs $12.25 to 12.50 Bulk cull lambs $8.50 Bulk fat ewes to $6.00 KIRKSVILLE PRODUCE MARKET Prices Furnished by F. M. Stamper Company Eggs No. Hens No. Springs Leghorns Leghorns Staggs Old roosters No. Turkeys No. Turkeys No. ducks No. geese Hides Packing butter Cream 30c 21c 18c 17c 15c 14c Clerks Tired. So Bank Closes New York Jan A million dollar run on the Broadway Central Bank. from whose coffers three employes are alleged to have embezzled $100,000 lost in stock speculation. closed its doors because the clerks were tired About 250 persons, a remnant of

11. January 11, 1927 The News-Enterprise Elizabethtown, KY
Article from The News-Enterprise, January 11, 1927

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The Latest News. Doris Duke, 15, is worth $53,451,069. 3,000 were rendered homeless by a fire in Manila. Clemency acts of Governor Ferguson number 3,101. Incomplete show 280,Col Nelson 75, former mayor is Four persons death in gang died in Lita Chaplin yesterday sued for divorce. Fall is being kept by the use of stimulants. in is planned Third and Broadway, Louisville. Congressman Wingo, of Arkansas, yesto collapsed in the Capitol Rev. J. Frank Norris, murder, began yesterday at Austin. play with Giants two years at Two engineers killed in a train wreek near WinstonGasoline sales Kentucky during November 1,461,873 gallons less than in Gov. Paulen as Governor of Kansas yesterday on the day father Five men escaped jait Somerset after beating the turnkey into unRadio formalVictor Donahey inauguratthe of Maryland, yesterday Democrats to nominate a yesterday sent a special message to Congress, defending his Nicaruaguan policy The third fire on Main Street in Louisville, in several weeks Trday circi damage of $40,000. A League has been organized to preserve the court-house, the oldest in the State. Joyce Hawley, notorious after Earl Carroll's bathtub party, is missing from ner parents home. About seventy-five persons, mostly children, lost their lives in a theatre fire at Montreal Sunday. Jack Coleman, 27, son of State Commissioner of Agriculture Cleil Coleman, died at his home 10 Harrodsburg. One man was killed when two sections of a New York Central train crashed in a fog near Syracuse. Judge A. M. J. Cochran went to Washington to oppose the creation of a new federal district in Kentucky. Two fishermen were rescued after they lived for two days and three nights on an ice floe in Lake Superior. John Robert White was appointed County Judge of Barren county to succeed the late Judge G. M. Bohannon, Frank W. Savin, 73, wealthy New York broker, married the woman who had been his housekeeper for 14 years. Three employees, embezzling $100,000 from the Broadway Central Bank, of New York, caused a $1,000,000 run on the bank. Mrs. Lawrence Lewis, niece of Mrs. Henry Flagler, III., and heiress to $60,000,000, was married to Hugh R. Lewis, in New York. After officiating at 645 hangings, Ignace Ghabin, hangman for the late Czar, was hanged at Moscow for the "death of many innocent political prisoners." Mrs. Henry Everett, of Chicago, her husband held captive in the next room, withstood torture for three hours before revealing to bandits the hiding place of $10,000 worth of her jewels.

12. January 11, 1927 Democrat and Chronicle Rochester, NY
Article from Democrat and Chronicle, January 11, 1927

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$2,000,000 CASH AWES DEPOSITORS Display of Wealth Stops Run on New York Bank New York. Jan. the Chicago Tribune Press millions dollars in cash reposed on table in the front lobby of the Broadway Central Bank on Upper Broadway this afternoon. The huge pile wealth loomed that more than 500 depositors. with saucer-eyes, see from the street outside. That exhibit lions currency coupled with the that the Central Mercantile Bank and Trust in of had purchased the Central Bank. assuming all of its liabilities, and intendede to stop run on the Central Bank which started with news of the of three officials charged with Beside the unusual display of wealth Stanley Mitchell president of the Central Mercantile Bank and Trust Company, stood on table in the lobby He gestured toward the fortune in bills of all denominat Two million dollars would be placed alongside. he said. were they needed. About 400 it was withdrew their deposits to-day despite the reas. surances. believe it fact that singing extremely beneficial certain of deafness. in Daily Paper. And

13. January 11, 1927 The Philadelphia Inquirer Philadelphia, PA
Article from The Philadelphia Inquirer, January 11, 1927

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$2,000,000 IN SIGHT DURING RUN ON BANK Fortune Placed in Window to Allay Fears of Depositors NEW Jan. run Broadway Central Bank continued strong today despite the announcement made in the afternoon that early the institution had been purchased by Central Mercantile Bank and Trust Company, with resources over $50.000,000. Although depositors flocked withdraw their savings in greater numthan Saturday, when the run officials estimated withdrawals totaled less than $500,000. of change of was made Stanley Mitchell, president the Central the height of the bank's rush hour, estimated that at least 500 mostly were awaiting turn Both and the sight $2,000,000 currency which had been placed view the bank's window quiet the anxiety many waiting This brought early the from morning Federal Reserve Bank in armored which also $100,000 contained Chemical National Bank

14. January 11, 1927 Chicago Tribune Chicago, IL
Article from Chicago Tribune, January 11, 1927

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MILLION IN $1,000 BILLS IN WINDOW FAIL TO STOP RUN ON BANK New York, Jan. [Special million dollars in $1,000 bills was displayed this afternoon in the windows of the Broadway Central bank and the purchase of the institution by the Central Mercantile Bank and Trust com pany was announced, but neither measure stopped entirely the run at the Broadway Central. The annobncement of the change of ownership was made by C. Stanley Mitchell, president of the Central Mercantile, while at least 400 persons, mostly women. were lined up in the lobby of the Central bank in a queue that led through the revolving door to 97th street and Broadway and up the block to Amsterdam avenue. A few of the depositors, after listen ing to a speech by Mr. Mitchell who mounted lobby bench to address them. turned away. But most of them stood their ground. Those on the outside, unable to hear Mr. Mitchell's remarks, were given printed statements showing the Central Merchantile's resources to be $45,914,876 and the deposits $40,149,091. river basin and from Fukien province along the coast The Nationalist government has taken over temporarily the adminis tration of the British concessions at Hankow and Kieu-Kiang, cities on the Yangtse where coolie mobs incited by anti-foreign speeches and propaganda a few days ago tore down British con cessions barriers and swept in riotous fashion over the foreign section. American and British women and children placed on river steamers to escape jeerIng. hostile coolie mobs have arrived in Shanghai to receive protection of white residents there. The Cantonese soldiers of the Na tionalist government, unpaid for months, have become surly and for eigners expressed little confidence that they could be controlled. Transporta tion was sought at Hankow to convey more American women and children to Shanghai, following those who departed last week. Erect Barricades in Shanghai. SHANGHAI, China, Jan. 10.-[U.P.] Barbed wire barricades were erected in Shanghai today as the municipal council prepared for eventualities in connection with the possible movement of the Cantonese Nationalist armies against this rich prize. Foreign holdings in Shanghai are valued at $375,000,000. The council decided to accept milltary forces for the defense of the city in the event the Cantonese swarmed down the Yangtse valley. We will rigorously suppress violence. the council announced. "And we will not hesitate to use all the means at our disposal.

15. January 11, 1927 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, January 11, 1927

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Broaway President Piles in Show Window INSTITUTION SOLVENT Scramble for Cash Started By Arrest of Officials for Embezzlement SAM LOVE United News Staff Correspondent New million dolin piled up like waste paper in the show window of Broadway Monday afternoon convince army of depositors that the solvent. unparalleled display of ready money caused the the grow like saucers but did stop the depositors stood firm. The unique gesture stop run Broadway Central Bank began Saturday officials been for zlement dol. lars did not The for ready cash contin- Scene Grew Oddity. The Word along the line six herded by police cash plain sight. spread They wanted Police. fearful bandits the display foolhardy piece of bravado the crowds line from from the Croesuswindow display. Stanley president of the Central Trust table beside the He his and Another was alongside if needed, he told the Mitchell declared that the Broadperfectly despite run been purchase over the by the resources excess $50,000,000 Long Line Held The held firm. Most women. Many had the cold the like Stadium opening day Entersmall selling hot Mitchell continued his speech, while

16. January 12, 1927 The South Bend Tribune South Bend, IN
Article from The South Bend Tribune, January 12, 1927

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RUN ON BANK Depositors Outnumber Those Who Withdraw Funds. REPEAL SEEMS IMPROBABLE IN NEW YORK, Jan. run of STATE LEGISLATURE. the Broadway Central bank which began last Saturday when three officers were arrested for thefts totaling Representatives From Thirteenth $100,000, and which resulted withDistrict Divided in Opinions drawals of about $1,600,000, has ended. Proposed Action. Only seven persons appeared at the bank Tuesday withdraw funds, while 25 new or old customers made Indianapolis Bureau, The South Bend deposits. The bank was taken over Monday INDIANAPOLIS, Jan. by the Central Mercantile Bank of the absent voters' law, which was Trust company, which has assets of advocated bill introduced in the approximately $50,000,000.

17. January 22, 1927 New Britain Herald New Britain, CT
Article from New Britain Herald, January 22, 1927

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Bank President Grieves To Death at Run on Bank New York, Jan, 22 (AP) - Grief over a run on the Broadway Central bank, of which he was president, is believed by friends to have caused the death of Frank Wllliams, 51 years old. The run occurred two weeks agai after the arrest of three trusted employes of the bank. It continued for two days during which more than a million dollars were withdrawn in deposits. The run ended when officials sold the institution to the Mercantile Bank and Trust company to protect the depositors. The closing of the bank was a severe blow to Mr. Williams, who founded the institution with group of associates, in 1914.

18. January 22, 1927 Daily News New York, NY
Article from Daily News, January 22, 1927

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GRIEF KILLS FOUNDER OF BANK IN RUN Nephew's Dishonesty Last Straw for Frank Williams By EDWARD DOHERTY. Frank Williams, banker, died at his home, 995 5th ave., early yesterday morning. Death was due to apoplexy, and to grief. Frank Williams, a few weeks ago, was one of the happiest men in the world. He was president of the Broadway Central bank at 97th st. and Broadway; he was rich, in good health, he had thousands of friends; he was respected, even venerated. Within 48 hours he was the unhappiest man in the world. He learned that his bank had been looted of close to half a million dollars. The public learned it too and started a run on the bank. Over a million and a half of dollars was paid out to depositors, and there was plenty of more money to pay out-the assets of the bank, over $8,000,000, were displayed in the bank windows, but the run continued. And the bank was sold. Blow That Killed. Frank Williams could have borne all that with a smile. But three of his employes had been arrested, charged with looting the bank. And one of the three was his nephew, George H. Cook. That was the blow he could not survive. Frank Williams's brother Fred talked about him yesterday-talked with a little surprise in his voice, as if he couldn't exactly believe yet that Frank was dead. "My brother," he said, "was 62 on Jan. 12-the bitterest birthday of his life. He was born in Pierrepont Manor, Jefferson county, N. Y. He was the oldest of a family of nine. He ran away from home when he was 10, and got a job, and paid for his own board and schooling. Everybody Liked Him. "In 1885 he came to New York and started in the hay business. He was one of the largest factors in that business for thirty years. Everybody knew him. Everybody liked him. He had friends all over the country. "About twenty years ago he became interested in the Chelsea Exchange bank's branch at 97th st. and Broadway, becoming a director in it. In 1914 he and some of his associates bought this branch and formed the Broadway Central. They had a hard time for the first year. At the end of that year they had but $250,000 in deposits. When the Central Mercantile bought it the bank had $8,500,000 on deposit. "My brother worked hard to build up that bank. Frank started George Cook in there as errand boy, watched over him, guided him, advised him. He loved the boy, and trusted him. Member of Many Clubs. "Well, one morning Frank learned that the bank must- sold to saye the depositors. And he learned that his nephew had been accused as a thief. It was too much." Frank Williams was married twice. His first wife was a Miss Currie, his second was the widow of Max Anderson, who built the Hippodrome and Luna park. She survives him. He is also survived by his brother, Fred, and four sisters, one of them the mother of Cook, who lives at 33 New York ave., Baldwin, L. I. He was one of the oldest members of the New York Athletic club and the National Republican club, and a member of many other civic and fraternal organizations. Funeral services will be held Monday afternoon at 2 o'clock in Campbell's funeral chapel. Burial at Woodlawn. an hour along Park ave., Oct. 25. He didn't show up in court. Then it was discovered that Abelman was wanted in Brooklyn for speeding Aug. 29 and July 26, and hadn't shown up there. He was also wanted in the Bronx. "Such popularity must be deserved," quoth the court, as he sent him to jail. The widow scores one on Andy. Read The Gumps on page 12 today.

19. January 23, 1927 The Daily Oklahoman Oklahoma City, OK
Article from The Daily Oklahoman, January 23, 1927

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Banker's Death Due To Grief Over Run NEW Jan. Frank Williams, president of the Broadway Central bank, was gen. erally ascribed Saturday to grief over run on the bank. sensational newspaper of the amount the thefts of three were blamed by bank ficials for the run that continued two days about weeks ago. DurIng the run more than of deposits were withdrawn. The run ended when the officials sold the institution the Mercantile Bank Trust company

20. January 24, 1927 The Jersey Journal Jersey City, NJ
Article from The Jersey Journal, January 24, 1927

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CHEERS FOR BROWNING AT TRIAL Invalid Woman Rescued As Fire Sweeps House 3 BANK OFFICIALS ADMIT THEFTS TOTAL STOLEN WAS $400,000; BANKERS STATE New York. Jan Three former officials of the Broadway Central Bank. who took money from the institution to bet on horse races and caused a run on the bank which only ended when it was sold to another bank. pleaded guilty today The former officials are Harry B. Rebholz, 948 Hudson Avenue, Union City, N. J., cashier: Anthony Ziesat, vice president. and George H. Cook. assistant They all pleaded guilty to first degree grand lareeny with which they were accused in an indictment charging. 14 they had stolen $4,000. Officials of the bank informed the court that the money stolen would amount to $400,000 or more when an audit of the books is completed. Sentence was deferred until Feb. 18. The Court was asked by the District Attorney's office to order the prisoners to help bank officials in straightening out the financial tangle they created by their thefts. which was said were made so that the men might speculate stocks After the three men arrested and had told police of stealing so that they might speculate in stocks. in doing which they lost the money they had stolen. hundreds of depositors stormed the Broadway Central Bank demanding their money Officials addressed the crowd. saying that all the loss was by bonds, but the could not be halted The bank kept open and on the first day of the run .000,000 withdrawn. On the next day additional funds were brought in from other banks and $2,000,000 in bills was piled in window of the bank in futile effort to give the withdrawing depositors conAdence in the stability of the Institution Withdrawals that day amounted to about $700,000 The next day it was announced that the bank had been with the Central Bank & Trust Company, and the excitement subsided and deposits began to replace withdrawals Frank Williams president of the Broadway Central until it was taken over by the other bank. died a few days later

21. January 24, 1927 The Lewiston Daily Sun Lewiston, ME
Article from The Lewiston Daily Sun, January 24, 1927

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RUN ON BANK BELIEVED TO HAVE KILLED PRES. York, run the Broadway Central Bank, which president, friends have the death of Frank Williams, old. run two weeks ago after trusted ployes bank. continued two during which more than million dollars withdrawn posits. The run ended when officials the the Trust Co., protect the The closing of bank vere founded with group of associates in

22. January 25, 1927 The Brooklyn Daily Times Brooklyn, NY
Article from The Brooklyn Daily Times, January 25, 1927

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SENTENCE BANKERS FEB. 18 Three Broadway Central Officials Enter Guilty Pleas. The three former officials of the Broadway Central Bank, whose thefts from the institution's Tunds caused run on the bank and its sale, will be sentenced February 18 to from one to ten years in prison on their pleas of guilty to first degree grand which were entered yesterday in General Sessions. Although the are charged with stealing taken was than $100,000. originally mated,' according to bank officials The embezzling bankers are: Anthony Ziesat. president, 198th Hollis: George New York ave., and Harry B. Rebols. a cashier, of Union City,