89c582f8Accommodated withdrawals
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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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DEPOSITORS ALARMED. But the Willlamsburgh Savings Bank Meets the Run, and Is Ready for Another. The false rumortouching the financialstanding of the Williamsburgh Savings Rank circulated on Faturday. and which caused about one hundred depositors to withdraw their savings. was followed iy another run on the bank yesterdar. everal hundred depositors crowded around the doors. and. when the bank was opened. made a rush to withdraw their money. They were m stly Hebrews and Germans. women pr-dominating an before noon all of them were served. After that time the business of the bank went on as usual until 3 P. M., when the ank closed until 4 o'clock. a d reopened until 7 P.M. when it closed for the day. I order to provide for the rush which was expected. six wi dows were opened instead ( Las r. and the entire force of officials and clerks was pl ced on du y. Gen. Meserole. the President of the bank. said last evening that th. bank's surplus of -5,000,000, was vailabl at all times. "As a matte of fact." he added. 0.8 money was withdrawn on S. ur ay than on the simi ar days. July 1. of the two preceding years. Ju y 1891. there being 401,000 withdrawn. and on July 1. 1892. $430,000 was withdrawn. while on Sat rday only $256,000 was taken out. We do not anticipate any further rush, but if it comes we are prepared for it."
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BANK FAILURE. The Albuquerqne National Temporarily Suspends Business. ALBUQUERQUE (N. M.), July 3.-The following note 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 the 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 resuine 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. Other banks are exceptionally strong, and have large cash reserves. Full confidence is expressed by citizens, and no runs whatever are being made. The liabilities of the Albuquerque National Bank are $270,000, and the assets $420,000. The New Mexico Savings Bank and Trust Company is also closed, but they say the depositors will be paid in full. RESUMING BUSINESS. WASHINGTON, July 3. - Comptroller Eckels is advised that the First National Bank at San Diego, Cal., which failed one month ago, will resume business Wednesday, having complied with the conditions imposed by the Comptroller. It is probable, also, that the failed Washington National Bank of Spokane, Wash., will resume business in ten days. A RUN AT LEADVILLE. LEADVILLE (Col.), July 3.-A run was made on the California, Carbondale and American Banks to-day, but all demands of depositors were promptly met with cash, 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 statement shows the resources to be $536,134 and the liabilities $347,625. RUN ON A BROOKLYN BANK. BROOKLYN, July 3.-There was a slight run on the Williamsburg Savings Bank this morning. Nearly 1,000 persons crowded into the bank as it opened, and until noon, anxious inquiries made show the proportion of those withdrawing deposits as to 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 doing business fast, and preparing for a run should it come." HAS PLENTY OF FUNDS. Cisco (Tex.), July 3.-The doors of the National Bank of Cisco were closed by the Inspector to-day, while the inspections of the bank's condition are being made, to prevent a run. The Cashier stated that the bank had two and a half dollars for every dollar of liabilities. DECLARED INSOLVENT. WINNIPEG (Man.), July 3.-The Commercial Bank of Manitoba has been declared insolvent and liquidators appointed to wind up its business. Bills of the bank are as good as gold under the Dominion law.
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CONDENSED TELEGRAMS. Johnson, the famous California outlaw, died in jail at Fresno yesterday. General Warner denies the story that there has been a secret conference of the free silver congressmen. Edward McCarthy jumped from the Brooklyn bridge last night and sustained fatal injuries. Ho wanted to emulate the example of Steve Brodie. A run on the Carbonato and American banks at Leadville, Col., was instituted yesterday. The bank meets all demands, and depositors are being paid in full. Fifteen hundred miners at Long Run, Dillonvale and Laurelton mines on the Wheeling & Lake Erio are out on strike because of the discharge of the check weighman. A dispatch from Hong Kong reports another fanatical outbreak against mis. sionaries in China. The dispatch says that a mob of natives attacked two Swedish missionaries at Macheng and killed them. The militia were withdrawn from Tonawanda, N. Y., yesterday atternoon. The situation has become such that deputy sheriffs can take the place of the soldiers in guarding the property of tho lumbermon. There wns a slight run on the Will. iamsburg (N. Y,) Savings Bank yesterday morning. Nearly n thousand porsons crowded to got into the bank as it opened and at noon hundreds of anxlous inquiries were made. The bank is in no danger.
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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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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.
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A LITTLE EXCITEMENT IN BROOKLYN, SCENES ABOUT THE VARIOUS INSTITUTIONS-RE ASSURING WORDS OF THE OFFICERS. There was a little excitement among the depositors in several of the savings banks in Brooklyn over the enforcement of the time rule regarding the withdrawal of large sums. All save the smaller banks put up notices requiring from thirty to ninety days' notice to secure amounts over 850 or $100. Most of the banks paid out less sums than $50, but some would not pay over $10 unless exceptional need of the money was shown. Almost the only humorous incident of the day occurred at the South Brooklyn Savings Institution. There was a long line at the paying teller's window when a man in a nervous manner asked: Are you ready to pay me my money?' "That depends on how much you want," was the reply. "I want it all," he said. "if you haven't got it, and if 1 am sure you have got it, I don't want any." There was a laugh among the other depositors and he was assured that the bank had the money and he went away without it. The directors of the bank issued a notice to all depositors to quiet any alarm they might feel over the safety of their deposits. In It they said: There should not be any anxiety on your part concerning the safety of your deposits. Our report to the banking department of this State, rendered up to July 1. 1893, shows that our assets were $14,114,283 85 due depositors, $12,304,327 15; surplus, $1,809,956.70. You will therefore perceive that there was a reserve fund of over $1,000,000 to protect you against the possibility of loss. We are required by law to keep invested at least 90 per cent of our deposits and surplus in the very best class of securities that can be had, as a means of obtaining revenue from which to pay interest, and this income has enabled us to pay you each year 4 per cent on your deposits, and there is no reason why we should not continue to do so if they are not unduly discurbed. Finding. however, that some of our depositors were quietly withdrawing (their funds in much larger volume than heretofore- evidently the result of needless alarm-the trustees, with the desire of seeing that all are placed on an equal footing and as a precautionary measure have decided to require from depositors intending to withdraw their funds, the notice which is printed on the last page of each of your bank deposit books. The officers are authorized to pay from time to time to depositors whose necessities require such accommodation moderate amounts without requiring notice. There was at no time any large number of people at the South Brooklyn Bank. The depositors who showed their need of money got all they wanted. but those who evidently were seeking to get their money because of fears for 1ts safety went away empty handed. Only a few gave the requisite notice of withdrawal. At the Brooklyn Savings Bank the decision of Saturday not to require notice for the withdrawal of large amounts was reversed, and the rule was posted after President Morgan, who had returned from his vacation trip, conferred with his fellow directors. Money was paid out in small sums to all who sought it, but the number of those who made deposits was nearly as great as the number who drew out funds. There was a considerable crush of people when the doors of the Dime Savings Bank of Brooklyn were thrown open, and a long line of men and women stood in front of the window of the paying-teller. Ex-Mayor Hunter. long the treasurer of this bank, said that the scare was senseless and unreasonable, and the enforcement of the time rule would benefit the depositors and protect the banks until people recovered their confidence. There was more excitement about the WHillamsburg Savings Bank than anywhere else in the city, owing to the large number of depositors and the fact that many of them are ignorant foreigners. Nearly 500 men and women were outside the doors before the bank had opened, and all day there was a throng. No one was allowed to draw more than $10 or
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BROOKLYN BANKS PAID TO THE NEEDY Williamsburgh Bank Couldn't Help an Italian Whose Mortgage IN Due To-day. All the Brooklyn and Williamsburgh savings banks. with the exception of the Brooklyn City and the Brevoort. which do a comparatively small business. have notified their depositors that they must give the specified time notice of their intention to withdraw sums of over $100. There was an unusually large number of depositors on hand yesterday morning when the banks opened. and in some cases the services of policemen were required to preserve order among them. Many persons. who were urgently in need of money to meet pressing demands. made special appeals to the officers and in most of these cases the money was paid out. There was a great crush at the Dime Savings Bank. the women being the most elamorous for their money. The reassuring announcement of Treasurer John W. Hunter. however. had a quieting effect. For several hours after the opening of the Brooklyn Savings Bank there were about three times as many women AS men in the surrounding crowd of depositors who wanted to draw out their money. Among the women were some who came to deposit money. When this was observed one of the other women whispered to her neighbor: It is a put-up job. The money is given to these women to deposit in order to make it appear that the bank is all right." This passed along the line. and. absurd as the suggestion was, a great many believed it. When the doors of the Williamsburgh Savings Bank. at Broadway and Driggs avenue. Williamaburgh. were opened yesterday morning. fully 500 depositors pushed their way into the building to withdraw their savings. Those depositors who were in need of money were told that they could withdraw $10. but no larger amount. The news that no more than $10 could be obtained at the bank spread rapidly. and within an hour there were at least a thousand people inside and outside the institution clamoring for their money. A weeping Italian begged Gen. A. V. Meserole. the President of the bank. to let him have his money. He said that the mortgage on his house was due to-day. and unless he paid it the mortgage would be foreclosed. Gen. Meserole told the depositor that he couldn't help him. Another man had arranged to go to Europe to-morrow and wanted $275. There was a small run on the Kings County Savings Bank at Broadway and Bedford nvenue and the Dime Savings Bank of Williamsburgh at Wythe avenue and Broadway.